Strong Growth Ahead: Plant Factory Market Size To Grow At Arecord 7.6% Cagr By 2029

The Plant Factory Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Plant Factory Market Size Expected to Be by 2034?
Over the past few years, the size of the plant factory market has seen robust growth. The market, which stands at $130.6 billion in 2024, is projected to increase to $140.43 billion in 2025, with a compound annual growth rate (CAGR) of 7.5%. The significant growth during the historic period can be partly linked to the rising demand for fresh and locally-grown produce due to the paucity of arable land and urbanization. Additionally, the growing concerns revolving around food security and supply chain durability, advancements in the sphere of controlled environment agriculture (cea) technologies, the requirement for consistent crop production throughout the year, and a keen focus on sustainable and efficient agricultural practices have contributed to this growth.

The anticipated expansion of the plant factory market is set to be robust in the coming years, with projections of a surge to $188.23 billion by 2029, recording a compound annual growth rate (CAGR) of 7.6%. This anticipated upturn for the forecast period is linked to factors such as the growing acceptance of hydroponic and aeroponic cultivation techniques, the broadening of urban farming and rooftop greenhouse projects, advancements in plant factory automation and robotics research, the demand for pesticide-free and non-gmo crops, along with a focus on high-yield and high-density crop growth. Noteworthy trends predicted for the same forecast period comprise the amalgamation of artificial intelligence and machine learning, modular and stackable growth systems, upgraded LED grow lights and spectral tuning, hybrid systems blending natural and artificial illumination, and the inclusion of blockchain and traceability in urban agriculture.

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What Are the Emerging Segments Within the Plant Factory Market?
The plant factory market covered in this report is segmented -

1) By Facility Type: Greenhouse, Indoor Farms, Other Facility Types
2) By Light Type: Sunlight, Full Artificial Light
3) By Growing System: Non-Soil-Based, Soil-Based, Hybrid
4) By Crop type: Fruits, Vegetables, Flower And Ornamental, Other Crop Types

Subsegments:
1) By Greenhouse: Hydroponic Greenhouses, Aeroponic Greenhouses, Soil-Based Greenhouses
2) By Indoor Farms: Vertical Farms, Container Farms, Controlled Environment Agriculture (CEA) Systems
3) By Other Facility Types: Rooftop Farms, Ship-Integrated Farms, Community Gardens

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What Long-Term Drivers Are Shaping Plant Factory Market Trends?
Growing population levels and the obstacles posed by climate change, which have escalated the demand for food, are substantial contributors to the plant factory market's expansion. The escalating world population and food demand, combined with a decrease in yield due to soil infertility, demographic shifts, climate change, and pest infestations, are all driving a larger adoption of innovative plant factory methods to cultivate crops. For instance, the U.S. Department of Agriculture, a US federal agency, stated that Canada's convenience food market experienced a growth, reaching 11.65 billion CAD in 2023, up from 10.39 billion CAD in 2022. Concurrently, Europe's convenience food market expanded to 2.09 billion EUR, growing from 2 billion EUR. As such, the mounting demand for food, spurred by the intensifying population and climate change adversities, is propelling the expansion of the plant factory market.

Who Are the Top Competitors in Key Plant Factory Market Segments?
Major companies operating in the plant factory market include AeroFarms LLC, BrightFarms Inc., Gotham Greens Holdings LLC, Bowery Farming Inc., AppHarvest Inc., Lufa Farms, Beijing IEDA Protected Horticulture Co. Ltd., Green Sense Farms Holdings Inc., Plenty Unlimited Inc., Mirai Co. Ltd., Farminova Plant Factory, Urban Crops Solutions, Sky Greens, Kalera Inc., Smallhold, Sky Vegetables, TruLeaf Sustainable Agriculture, Wulian, Crop One Holdings Inc., Vertical Harvest Farms, Growing Greener Ltd., Heliospectra AB, Infarm GmbH, Intelligent Growth Solutions, LettuceGrow, Light Science Technologies, MechaFarm, Phytoponics, Plug and Play Tech Center, Radiant Food Company, SmartFarm Systems, Vertical Greens

What Plant Factory Market Trends Are Gaining Traction Across Different Segments?
Major corporations engaged in plant factory markets, like Plenty, are establishing new indoor farms to meet the growing need for a consistent, year-round source of fresh produce. Plenty's indoor vertical farm employs cutting edge 3D vertical structure that facilitates the cultivation of up to 4.5 million pounds of vegetables like lettuce every year. For instance, in May 2023, Plenty, an American vertical farming corporation, launched a new indoor vertical farm in Compton, California. This farm, equipped with 3D vertical architecture, has the capability to yield 4.5 million pounds of leafy greens yearly. This innovative method results in up to 350 times more yield per acre compared to conventional farming, and it also conserves water. The whole growth process is automated at the farm where produce is grown on vertical towers that are equivalent to a two-story building.

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Which Regions Are Becoming Hubs for Plant Factory Market Innovation?
Western Europe was the largest region in the plant factory market in 2024. The regions covered in the plant factory market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Plant Factory Market?
2. What is the CAGR expected in the Plant Factory Market?
3. What Are the Key Innovations Transforming the Plant Factory Industry?
4. Which Region Is Leading the Plant Factory Market?

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