Plant Factory Market

The global Plant factory market foreseen to grow by 6.9%, from USD 126.87 Billion in 2021 to USD 216.36 Billion in 2029. Higher yield as compared to traditional agriculture practices, lesser impact of external weather conditions, rise in demand for food due to increasing population and challenges of climate change are some of the factors driving the overall growth of the market. However, high capital investments, requirement of high-precision environment yet remains one of the factors to hinder the market growth.

Market Definition

What is Plant Factory?

The plant factory is a facility that aids the steady production of high-quality vegetables all year round by artificially controlling the cultivation environment (e.g., light, temperature, humidity, carbon dioxide concentration, and culture solution), allowing growers to plan production.

Market Overview

The plant factory market search study helps to thoroughly understand the current trend in the market competitive analysis of the players in the emerging market .Moreover, the DRO in the plant factory market offers valuable perspicuity and a current scenario for making the right decision. The research study covers the eminent players in the market with a detailed analysis of the company and a financial overview containing their net sales, business mix and geographical reach It mainly focuses on the key developments of the products/services offered by the company in recent years. Besides, we at Zettabyte have the expertise to analyses the global plant factory market player's competitive landscape helping the client comprehend their specific strategic growth approaches.

Plant factory market study by "Zettabyte Analytics" offers details about the market scope, market segmentation, technological advancement in the plant factory market and highlights the optimistic, competitive landscape and trends enduring over the years.

Major players in the plant factory market Aerofarms, Agricool, Appharvest, Badia Farms Bowery Farming, Brightfarms, Brightfarms, Crop One, Dream Harvest Farming Company Llc, Farminova plant Factory N.V., Farmone, Gotham Greens, Iron Ox, Kalera, Mirai Co., Ltd., Oishii, Plenty Unlimited Inc, Sky Greens, Smallhold, Taikisha Ltd., Vertical Harvest.

COVID-19 Impact on Global Plant Factory Market

The global impact of COVID-19 has lost millions of lives with a massive cost to the healthcare system. Moreover, the treatment cost for patients with COVID-19 has also had a financial impact globally. The impact of COVID-19 on the Plant factory market has forced the companies to change their sourcing, pricing, and promotion strategies. The Plant factory market players are seen focusing more on optimizing the E-commerce networks with the rising innovations in the digital sector, which are creating new business models for the agriculture industry player.

Research Scope

The report provides market value for the base year 2021 and a yearly forecast from 2022 to 2029 in revenue (USD Million/ Billion). The market for each segment is present in North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and the regional basis for the forecast mentioned above.

Key industry dynamics, regulatory scenarios, major material dynamics and plant factory market future markets are analyzed to understand their impact on demand for the forecast period. Growth rates have been estimated using correlation, regression and time-series analysis.

Market Segmentation

For the purpose of this report, the global Plant factory market segmented on the basis of Facility Type, light Type, crop type, Growing System and region:

Facility Type Outlook:

On the basis of facility type, the market is segmented into greenhouses, indoor farms, other facility types.

Figure 1 Plant Factory Market By Facility Type (Market Size And Forecast By Value - USD Million, 2021 & 2029)

light Type Outlook:

On the basis of light type, the market is segmented into full artificial light, sunlight.

Figure 2 light Type Outlook (Revenue, USD Million, 2021)

Crop Type Outlook:

On the basis of crop type, the market is segmented into flower & ornamental, fruits, vegetables, other crop types.

Figure 3– Crop Type Outlook (Revenue, USD Million, 2021)