Plant Factory Industry Outlook 2025-2029: Market Set to Cross $188.23 Billion Milestone

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How Large Will the Plant Factory Market Size By 2025?
The market size for plant factories has seen robust growth in recent times. The expected growth trajectory shows an increase from $130.6 billion in 2024 to $140.43 billion in 2025, with a compound annual growth rate (CAGR) of 7.5%. The historic growth can be linked to several factors. This includes the rising demand for fresh local produce, the reduction in available arable lands due to urbanization, growing worries about food security and the reliability of supply chains, advancements in controlled environment agriculture technology, the need for crops to be produced throughout the year with less seasonal variability, and a concentrated effort towards sustainable and resource-efficient farming practices.

How Big Is the Plant Factory Market Size Expected to Grow by 2029?
Anticipations are high for robust expansion in the plant factory market in the coming years, with prospects showing that it could reach $188.23 billion by 2029, realizing a compound annual growth rate (CAGR) of 7.6%. This anticipated trajectory during the forecasted period is due to factors such as the adoption of hydroponic and aeroponic growing methods, increased urban farming and rooftop greenhouse initiatives, investment in research and development for plant factory automation and robotics, an increasing demand for crops free of pesticides and non-GMO, as well as a focus on crop cultivation that is both high-yield and high-density. Foreseen trends for this period incorporate the inclusion of artificial intelligence and machine learning, modular and stackable growing systems, progressive LED grow lights and spectral tuning, hybrid systems that utilize both artificial and natural light, as well as the application of blockchain and traceability in urban agriculture.

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Which Key Market Drivers Powering Plant Factory Market Expansion and Growth?
The escalating need for food, prompted by the surging global population and climate change obstacles, is a significant factor in expanding the plant factory market. The continually growing world's population, coupled with the escalating demand for food, coupled with setbacks in yield growth due to soil infertility, demographic shifts, drastic changes in climate, and insect infestation are pushing the need for the adoption of innovative plant factory strategies for crop cultivation. For example, data from the U.S. Department of Agriculture, a federal agency based in the United States, revealed that in 2022, the Canadian convenience food market witnessed a jump from 10.39 billion CAD in 2021 to 11.65 billion CAD in 2023. Concurrently, the European convenience food market experienced an expansion from 2 billion EUR to 2.09 billion EUR. Thus, the surging demand for food, driven by the booming population and the pressing issues of climate change, is propelling the progression of the plant factory market.

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Which Fast-Growing Trends Are Poised to Disrupt the Plant Factory Market?
Leading businesses in the plant factory market, including the Plenty indoor farm, are launching new indoor farming establishments to meet the rising need for reliable, year-round access to fresh produce. Plenty's indoor vertical farm, an advanced facility, utilizes 3D vertical architecture to cultivate up to 4.5 million pounds of leafy greens each year. For example, in May 2023, Plenty, an American vertical farming enterprise, inaugurated a new indoor vertical farm in Compton, California. It is equipped to yield 4.5 million pounds of leafy greens each year by harnessing its 3D vertical architecture. This method results in up to 350 times the harvest per acre as opposed to conventional farming, while also saving water. The crops are grown on vertical towers that are two stories high, with the entire growth process being automated.

What Are the Emerging Segments in 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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Who Are the Global Leaders in the Plant Factory Market?
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

Which are the Top Profitable Regional Markets for the Plant Factory Industry?
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.

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