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Plant Factory Market Trends

  • Report ID: 6287
  • Published Date: Jul 26, 2024
  • Report Format: PDF, PPT

Global Plant Factory Market

  1. An Outline of the Global Plant Factory Market
    1. Study Objective
    2. Market Definition
    3. Market Segmentation
  2. Assumptions and Abbreviations
  3. Research Methodology & Approach
    1. Research Process
    2. Primary Research
      1. Manufacturers
      2. Suppliers/Distributors
      3. End Users
    3. Secondary Research
    4. Market Size Estimation
  4. Summary of the Report for Key Decision Makers
  5. Market Drivers
  6. Market Restraints
  7. Major Opportunities
  8. Major Trends
  9. Technology Analysis
  10. Industry Risk Analysis
  11. SWOT Analysis
  12. Industry Growth Outlook
  13. Japanese Startup Analysis
  14. Industry Supply Chain Analysis
  15. Factory Type Analysis
  16. Regional Demand Analysis
  17. Patent Analysis
  18. Light Type Analysis
  19. Comparative Feature Analysis
  20. Competitive Positioning: Key Players
  21. Competitive Model
    1. Company Market Share
    2. Business Profile of Key Enterprise
      1. AeroFarms
        1. Detailed Overview
        2. Assessment of Key Offerings
        3. Analysis of Growth Strategies
        4. Exhaustive Analysis on Key Financial Indicators
        5. Recent Developments and Strategies
      2. BrightFarms
      3. Bowery Farming Inc.
      4. Gotham Greens
      5. Freight Farms
      6. Hydrofarm Holdings Group Inc.   
      7. Urban Crop Solutions BV 
      8. FF Agro Technologies Pvt Ltd 
      9. Triton Foodworks  
      10. Letcetra Agritech Private Limited 
      11. UrbanKisaan
      12. MIRAI Co., Ltd. 
      13. Plenty Unlimited Inc. 
      14. Indoor Harvest Farms Pvt Ltd 
      15. Vertical Harvest 
      16. Mitsubishi Chemical Group 
      17. Keystone Technology Inc. 
      18. ESPEC MIC CORP.
  22. Global Plant Factory Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Million), and Compound Annual Growth Rate (CAGR)
    3. Global Plant Factory Market Segmentation Analysis (2024-2037)
      1. By Facility
        1. Greenhouses, Market Value (USD Million), and CAGR, 2024-2037F
        2. Indoor farms, Market Value (USD Million), and CAGR, 2024-2037F
        3. Others, Market Value (USD Million), and CAGR, 2024-2037F
      2. By Light Type
        1. Sunlight, Market Value (USD Million), and CAGR, 2024-2037F
        2. Full artificial light Market Value (USD Million), and CAGR, 2024-2037F
      3. By Region
        1. North America, Market Value (USD Million), and CAGR, 2024-2037F
        2. Europe, Market Value (USD Million), and CAGR, 2024-2037F
        3. Asia Pacific Excluding Japan, Market Value (USD Million), and CAGR, 2024-2037F
        4. Japan, Market Value (USD Million), and CAGR, 2024-2037F
        5. Latin America, Market Value (USD Million), and CAGR, 2024-2037F
        6. Middle East and Africa, Market Value (USD Million), and CAGR, 2024-2037F
    4. Cross Analysis Facility w.r.t. Light Type
  23. America Plant Factory Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Million), and Compound Annual Growth Rate (CAGR)
    3. North America Plant Factory Market Segmentation Analysis (2024-2037)
      1. By Facility
        1. Greenhouses, Market Value (USD Million), and CAGR, 2024-2037F
        2. Indoor farms, Market Value (USD Million), and CAGR, 2024-2037F
        3. Others, Market Value (USD Million), and CAGR, 2024-2037F
      2. By Light Type
        1. Sunlight, Market Value (USD Million), and CAGR, 2024-2037F
        2. Full artificial light Market Value (USD Million), and CAGR, 2024-2037F
      3. By Country
        1. US, Market Value (USD Million), and CAGR, 2024-2037F
        2. Canada, Market Value (USD Million), and CAGR, 2024-2037F
  24. Europe Plant Factory Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Million), and Compound Annual Growth Rate (CAGR)
    3. Europe Plant Factory Market Segmentation Analysis (2024-2037)
      1. By Facility
        1. Greenhouses, Market Value (USD Million), and CAGR, 2024-2037F
        2. Indoor farms, Market Value (USD Million), and CAGR, 2024-2037F
        3. Others, Market Value (USD Million), and CAGR, 2024-2037F
      2. By Light Type
        1. Sunlight, Market Value (USD Million), and CAGR, 2024-2037F
        2. Full artificial light Market Value (USD Million), and CAGR, 2024-2037F
      3. By Country
        1. UK, Market Value (USD Million), and CAGR, 2024-2037F
        2. Germany, Market Value (USD Million), and CAGR, 2024-2037F
        3. France, Market Value (USD Million), and CAGR, 2024-2037F
        4. Italy, Market Value (USD Million), and CAGR, 2024-2037F
        5. Spain, Market Value (USD Million), and CAGR, 2024-2037F
        6. Netherland, Market Value (USD Million), and CAGR, 2024-2037F
        7. Russia, Market Value (USD Million), and CAGR, 2024-2037F
        8. Rest of Europe, Market Value (USD Million), and CAGR, 2024-2037F
  25. Asia Pacific Excluding Japan Plant Factory Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Million), and Compound Annual Growth Rate (CAGR)
    3. Asia Pacific Excluding Japan Plant Factory Market Segmentation Analysis (2024-2037)
      1. By Facility
        1. Greenhouses, Market Value (USD Million), and CAGR, 2024-2037F
        2. Indoor farms, Market Value (USD Million), and CAGR, 2024-2037F
        3. Others, Market Value (USD Million), and CAGR, 2024-2037F
      2. By Light Type
        1. Sunlight, Market Value (USD Million), and CAGR, 2024-2037F
        2. Full artificial light Market Value (USD Million), and CAGR, 2024-2037F
      3. By Country
        1. China, Market Value (USD Million), and CAGR, 2024-2037F
        2. India, Market Value (USD Million), and CAGR, 2024-2037F
        3. Indonesia, Market Value (USD Million), and CAGR, 2024-2037F
        4. South Korea, Market Value (USD Million), and CAGR, 2024-2037F
        5. Australia, Market Value (USD Million), and CAGR, 2024-2037F
        6. Singapore, Market Value (USD Million), and CAGR, 2024-2037F
        7. Rest of Asia Pacific Excluding Japan, Market Value (USD Million), and CAGR, 2024-2037F
  26. Japan Plant Factory Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Million), and Compound Annual Growth Rate (CAGR)
    3. Japan Plant Factory Market Segmentation Analysis (2024-2037)
      1. By Facility
        1. Greenhouses, Market Value (USD Million), and CAGR, 2024-2037F
        2. Indoor farms, Market Value (USD Million), and CAGR, 2024-2037F
        3. Others, Market Value (USD Million), and CAGR, 2024-2037F
      2. By Light Type
        1. Sunlight, Market Value (USD Million), and CAGR, 2024-2037F
        2. Full artificial light Market Value (USD Million), and CAGR, 2024-2037F
  27. Latin America Plant Factory Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Million), and Compound Annual Growth Rate (CAGR)
    3. Latin America Plant Factory Market Segmentation Analysis (2024-2037)
      1. By Facility
        1. Greenhouses, Market Value (USD Million), and CAGR, 2024-2037F
        2. Indoor farms, Market Value (USD Million), and CAGR, 2024-2037F
        3. Others, Market Value (USD Million), and CAGR, 2024-2037F
      2. By Light Type
        1. Sunlight, Market Value (USD Million), and CAGR, 2024-2037F
        2. Full artificial light Market Value (USD Million), and CAGR, 2024-2037F
      3. By Country
        1. Brazil, Market Value (USD Million), and CAGR, 2024-2037F
        2. Argentina, Market Value (USD Million), and CAGR, 2024-2037F
        3. Mexico, Market Value (USD Million), and CAGR, 2024-2037F
        4. Rest of Latin America, Market Value (USD Million), and CAGR, 2024-2037F
  28. Middle East & Africa Plant Factory Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Million), and Compound Annual Growth Rate (CAGR)
    3. Middle East & Africa Plant Factory Market Segmentation Analysis (2024-2037)
      1. By Facility
        1. Greenhouses, Market Value (USD Million), and CAGR, 2024-2037F
        2. Indoor farms, Market Value (USD Million), and CAGR, 2024-2037F
        3. Others, Market Value (USD Million), and CAGR, 2024-2037F
      2. By Light Type
        1. Sunlight, Market Value (USD Million), and CAGR, 2024-2037F
        2. Full artificial light Market Value (USD Million), and CAGR, 2024-2037F
      3. By Country
        1. GCC, Market Value (USD Million), and CAGR, 2024-2037F
        2. Israel, Market Value (USD Million), and CAGR, 2024-2037F
        3. South Africa, Market Value (USD Million), and CAGR, 2024-2037F
        4. Rest of Middle East & Africa, Market Value (USD Million), and CAGR, 2024-2037F
  29. Global Economic Scenario
  30. About SDKI

Plant Factory Market Trends

Growth Drivers

  • Gradual shift towards plant factories to cater to extreme climate changes – Climate change is one of the primary factors affecting the productivity and livelihood of fisheries and agribusinesses. Extreme climate changes like droughts affect food and nutrient consumption. According to a survey by NASA, climate change can affect the production of crops like maize by 24% and wheat by 17% as early as 2030. To cater to these issues, farmers are inclining towards plant factories that produce food in controlled environments and optimum temperatures.
  • Growing adoption of advanced technologies in agriculture production - Companies are heavily investing in advanced technologies for plant factories to enhance crop yield and quality and increase the produce even in remote areas. Some of these technologies include LED lighting systems for customized lighting, catering to the specific needs of the crop, automated systems for planting and harvesting crops, and AI-based systems to analyze data from various sensors. For instance, in February 2023, the Philippines Department of Science and Technology collaborated with Bukidamara Agri Farm to launch a fully automated greenhouse system with these technologies to automate climate sensing, drip irrigation, and nutrient dosing solutions. 

Challenges

  • Requirement of high initial investment – Plant factories require substantial investments in infrastructure, advanced technologies as well as equipment. This can be a barrier, especially for small-scale farmers and new entrants. In addition to this, machinery and systems need regular maintenance and require upgrades every 3-4 years, adding up the overall costs.
  • Growing risk to the environment – Plant factories emit huge quantities of greenhouse gases, contributing the climate change. Though these factories reduce the need for pesticides and herbicides, they consume a lot of energy and waste, that needs to be managed efficiently.

Plant Factory Market: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

8.29%

Base Year Market Size (2024)

USD 164 million

Forecast Year Market Size (2037)

USD 458.7 million

Regional Scope
  • North America (United States, and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, Brazil India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (United Kingdom, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Browse Key Market Insights with Data Illustration:

Author Credits:  Nilanjana Ray


  • Report ID: 6287
  • Published Date: Jul 26, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of plant factory was USD 164 million.

The global plant factory market size is projected to reach USD 164 million in 2024 and is anticipated to generate USD 458.7 million by the end of 2037, expanding at a CAGR of 8.29% during the forecast period, i.e., 2025-2037. In 2025, the industry size of the plant factory will be valued at USD 177.5 million.

The major players in the market are BrightFarms, Bowery Farming Inc., Gotham Greens, Freight Farms, Inc., and others.

The indoor farms segment is anticipated to set a share of USD 264.9 million during 2025-2037.

Asia Pacific region is expected to open new avenues for the plant factory business in the coming years.
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