Plant Factory Market Size, Share, Demands, Key Players Analysis: AeroFarms, Gotham Greens, BOWERY FARMING INC, Oishii, Plenty Unlimited Inc

The plant factory market is projected to grow from USD 138 Million in 2023 to USD 196 Million by 2028, at a CAGR of 7.3% during the forecast period. Climate change is causing more frequent and severe weather events, which can damage crops and disrupt traditional farming methods. Plant factory systems offer a way to produce crops in a controlled environment, which is less vulnerable to weather-related disruptions.

Prominent companies include AeroFarms (US), Gotham Greens (US), BOWERY FARMING INC. (US), Oishii (US), Plenty Unlimited Inc. (US)among others.

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A plant factory, also known as a vertical farm or a controlled environment agriculture (CEA) facility, is a closed environment in which plants are grown under controlled conditions such as temperature, humidity, light, and nutrient supply. The plant factory market refers to the market for these facilities, equipment, and technologies used for growing plants indoors.

The market for plant factories is driven by factors such as increasing demand for locally grown and pesticide-free produce, declining arable land, and advancements in technology.

The plant factory market is categorized into various segments based on equipment type, lighting type, and crop type. The major equipment types include hydroponics, aeroponics, and aquaponics. The major lighting types include LED, high-pressure sodium (HPS), and others. The major crop types include leafy greens, herbs, fruits, and others.

The Asia-Pacific region is expected to witness significant growth in the plant factory market due to the increasing demand for locally grown and fresh produce, government support for vertical farming, and advancements in technology. North America is currently the largest market for plant factories due to the presence of major players and the high adoption rate of technology in the region.

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