Plant Factory Market by Growing System (Soil-based, Non-soil-based, and Hybrid), Facility Type (Greenhouses, Indoor Farms, Other Facility Types), Light Type, Crop Type (Vegetables, Fruits, Flowers & Ornamentals), and Region - Global Forecast to 2026
[226 Pages Report] According to MarketsandMarkets, the global plant factory market size is estimated to be valued at USD 121.8 billion in 2021 and projected to reach USD 172.5 billion by 2026, recording a CAGR of 7.2% during the forecast period. Various factors have played a major role in driving the market growth across the globe. It is an efficient alternative to the rising concerns on food security and shrinking arable land since it provides growers the ability to cultivate crops even in the absence of soil. One of the major drivers is that it provides a higher yield compared to traditional agricultural techniques, owing to the increase in harvest cycles. Furthermore, plant factories eliminate the use of artificial ripening agents and pesticides, which helps create nutritionally superior vegetable products.
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Impact of Covid-19 on Global Plant Factory Market:
There has been an escalated demand for safe and quality-assured food products due to the pandemic. COVID-19 pandemic has had a significant global impact, due to which several industries are facing dire consequences. The pandemic continues to have complex and far-reaching effects across the water-energy-ecosystem-food nexus. As an enabler of hundreds of millions of agricultural jobs in rural areas, the plant factory sector allows the functioning of the world’s critical food production systems, livelihoods of the majority of the world’s poor and is responsible for shifting to water-saving sustainable practices. Plant factory companies around the world have continued to function despite challenging circumstances. However, there have been multiple shocks impacting service delivery, such as fiscal constraints, interruption of supply chains due to travel restrictions, and lack of availability of labor.
Market Dynamics
Drivers: Higher yield as compared to traditional agriculture practices
Plant factories reduce the farmer’s consumption of resources, thereby enabling this farming technique to be adopted by most stakeholders, ranging from home gardeners to professional growers and supermarkets to restaurants. According to the UN reports on the global population, in 2018, plants grown in hydroponic systems have achieved a 20%–25% higher yield than the traditional agriculture system, with its productivity being 2–5 times higher. Also, owing to their controlled environmental conditions, the effect of climatic changes can be balanced with the help of these systems, thereby not affecting the annual crop production.
Restraints: High capital investments
The investment required to set up a plant factory is substantial; the equipment needed for a plant factory is extensive and often expensive to buy and maintain. Different types of equipment, including HVAC systems, fans, ventilation, irrigation systems, control systems, rails, and lights, are the key cost factors in a plant factory. On average, a 500-sq. ft. plant factory can cost up to USD 110,000 for a base level system that is not fully automated. Larger and more automated farms can cost upwards of USD 500,000–800,000 per 1,000 sq. ft., depending upon the level of autonomous function to be achieved. The costs in this instance are considering only the set-up costs of the farm; however, when upgrades are factored in, it can result in a recurring cost for the farm as the equipment will need to be upgraded every 3–4 years to improve the yield and productivity of the farm.
Opportunities Increased adoption of plant factories by restaurants and grocery stores amid the Covid-19 pandemic
The pandemic has successfully highlighted the impact food industry businesses can have when the supply and distribution chains are affected, and hydroponic, aquaponic, greenhouse systems are the best alternative that they could adopt. Thus, the market is estimated to grow with such scenarios in the food and agriculture industries changing rapidly. Restaurants and grocery stores are starting to incorporate plant factory systems such as hydroponic systems into their business models as a way to provide fresh produce. This also reduces transportation and packaging costs.
Challenges: Risk of equipment failure and delay in the learning curve among growers
A challenging factor that restricts market growth involves higher risks of equipment failure, resulting in limiting the production, further resulting in hindering adoption rates. For instance, if a piece of the system fails, such as a water pump, then it might lead to results, including the death of the plants, within a matter of hours. Without soil, there is no water or nutrient storage for plants to feed on. Much like any typical grow room, in case of a power outage, the backup must be ready. This might result in additional costs, consequently affecting the cost of production and profit margins.
Europe is projected to account for the largest market during the forecast period
The European plant factory market has been experiencing tremendous growth. Its urban population is growing at a constant rate and is expected to constitute around 80% of the total population of Europe. The imports of goods are observed to be one of the solutions to meet the increasing demand for food by urban citizens in the region. In addition to the challenge for food provisioning, a further risk is represented by big changes, such as climate changes, which make the global food supply chain even more vulnerable. Moreover, being vulnerable, the food system is putting a continuous impact on environmental degradation. With the advent of such issues, urban agriculture came into the picture as one of the breakthrough technologies to produce crops with sustainable practices without harming the environment to a great extent. It has been observed that the agriculture sector is the major source of pressure on Europe’s environment, which has somehow created the need to develop technologies that can enhance food production in the region without pressurizing the environment anymore.
Key Market Players:
Key players in this market include AeroFarms (US), BrightFarms (US), Gotham Greens (US), Bowery Farming (US), AppHarvest (US), Plenty Unlimited Inc. (US), Mirai Co. Ltd. (Japan), Kalera (Norway), Farminova (Turkey), Taiksha Ltd. (Japan), Iron Ox (US), Agricool (France), Crop One (UAE), Vertical Harvest (US), Smallhold (US), Oishii (US), Badia Farms (UAE), Farmone (US), Sky Greens (Singapore), and Dream Harvest Farming LLC (US).
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Report Metric |
Details |
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Market size estimation |
2016–2019 |
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Base year considered |
2020 |
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Forecast period considered |
2021–2026 |
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Units considered |
Value (USD) |
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Segments Covered |
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Regions covered |
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Companies studied |
AeroFarms (US), BrightFarms (US), Gotham Greens (US), Bowery Farming (US), AppHarvest (US), Plenty Unlimited Inc. (US), Mirai Co. Ltd. (Japan), Kalera (Norway), Farminova (Turkey), Taiksha Ltd. (Japan), Iron Ox (US), Agricool (France), Crop One (UAE), Vertical Harvest (US), Smallhold (US), Oishii (US), Badia Farms (UAE), Farmone (US), Sky Greens (Singapore), and Dream Harvest Farming LLC (US) |
This research report categorizes the plant factory market based on facility type, growing system, light type, crop type, and region.
Based on facility type, the has been segmented as follows:
- Greenhouses
- Indoor farms
- Other facility types (container farms and water culture farms)
Based on light type, the market has been segmented as follows:
- Sunlight
- Full artificial light
Based on growing system, the market has been segmented as follows:
- Non-soil-based
- Soil-based
- Hybrid
Based on crop type, the market has been segmented as follows:
- Fruits
- Vegetables
- Flower & ornamental
- Other crop types (plantation and forage crops)
Based on the region, the market has been segmented as follows:
- North America
- Europe
- Asia Pacific
- South America
- RoW
Recent Developments
- In June 2021, AppHarvest completed the deal with Rabu Agri Finance to expand the high-tech indoor farm network. The company secured a USD 75 million credit facility via flagship Morehead farm mortgage following announcement; it announced hopes to have five farms operating by the end of 2022.
- In October 2020, Plenty Unlimited Inc. announced a joint development agreement with Driscoll’s (US), using its indoor vertical farming to grow Driscoll’s proprietary flavorful strawberries year-round.
- In February 2019, MIRAI Co., Ltd. and Chiyoda Corporation (Japan) entered a business partnership agreement for a closed-type artificial light vertical farming business to respond to the increasing demand for vegetable products and production systems.
Frequently Asked Questions (FAQ):
Does the report covers the market size and estimations for the country level markets for plant factory?
The report has overall number at regional and country level. The further country wise analysis can be further provided as a customization. Please let us know your geography/regional preferences.
Does the scope covers plant factory by crop type?
The report covers plant factory by crop type as given under by crop type segment.
Is it possible to provide further segmentation and analysis of plant factory?
Yes, further segmentation is possible for plant factory market on the basis of technology outlook.
We are looking for quantification at each stage in the supply chain. Can this be provided?
The report covers value chain analysis and supply chain analysis at global levels. Further drill down at regional level can be provided for required products.
Can you provide an estimation for countries of Middle Eastern region?
We can provide additional country wise estimations for different regions, such as Egypt, Sudan, Turkey, Jordan, Oman, and Saudi Arabia. .
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 23)
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 INCLUSIONS & EXCLUSIONS
1.4 STUDY SCOPE
FIGURE 1 MARKET SEGMENTATION
1.5 REGIONS COVERED
1.6 PERIODIZATION CONSIDERED
1.7 CURRENCY CONSIDERED
TABLE 1 USD EXCHANGE RATES CONSIDERED, 2018–2020
1.8 STAKEHOLDERS
2 RESEARCH METHODOLOGY (Page No. - 27)
2.1 RESEARCH DATA
FIGURE 2 PLANT FACTORY MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
FIGURE 3 MARKET FOR PLANT FACTORY: PRIMARY VALIDATIONS
2.1.2.1 Key industry insights
2.1.2.2 Breakdown of primaries
2.2 MARKET SIZE ESTIMATION
FIGURE 4 PLANT FACTORY MARKET SIZE ESTIMATION: SUPPLY SIDE (1/2)
FIGURE 5 MARKET SIZE ESTIMATION: SUPPLY SIDE (2/2)
FIGURE 6 MARKET SIZE ESTIMATION: DEMAND SIDE
2.2.1 MARKET SIZE ESTIMATION NOTES
FIGURE 7 MARKET SIZE ESTIMATION – TOP-DOWN APPROACH
FIGURE 8 MARKET SIZE ESTIMATION – BOTTOM-UP APPROACH
2.3 DATA TRIANGULATION
FIGURE 9 DATA TRIANGULATION METHODOLOGY
2.4 ASSUMPTIONS FOR THE STUDY
2.5 RESEARCH LIMITATIONS & ASSOCIATED RISKS
2.6 MARKET SCENARIOS CONSIDERED FOR THE IMPACT OF COVID-19
FIGURE 10 SCENARIO-BASED MODELLING
2.7 COVID-19 HEALTH ASSESSMENT
FIGURE 11 COVID-19: GLOBAL PROPAGATION
FIGURE 12 COVID-19 PROPAGATION: SELECT COUNTRIES
2.8 COVID-19 ECONOMIC ASSESSMENT
FIGURE 13 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020
2.8.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT
FIGURE 14 CRITERIA IMPACTING GLOBAL ECONOMY
FIGURE 15 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY
3 EXECUTIVE SUMMARY (Page No. - 44)
TABLE 2 MARKET SNAPSHOT, 2021 VS. 2026
FIGURE 16 MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2021 VS. 2026 (USD BILLION)
FIGURE 17 MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2021 VS. 2026 (USD BILLION)
FIGURE 18 MARKET SIZE FOR PLANT FACTORY, BY CROP TYPE, 2021 VS. 2026 (USD BILLION)
FIGURE 19 MARKET SIZE FOR PLANT FACTORY, BY LIGHT TYPE, 2021 VS. 2026 (USD BILLION)
FIGURE 20 MARKET SHARE, BY REGION, 2021
4 PREMIUM INSIGHTS (Page No. - 49)
4.1 BRIEF OVERVIEW OF THE MARKET
FIGURE 21 RISING POPULATION AND CONCERNS OVER FOOD SECURITY TO DRIVE THE GROWTH OF THE MARKET
4.2 MARKET FOR PLANT FACTORY MAJOR REGIONAL SUBMARKETS
FIGURE 22 US IS THE LARGEST MARKET GLOBALLY FOR PLANT FACTORIES IN 2021
4.3 NORTH AMERICA: MARKET FOR PLANT FACTORY, BY TYPE & COUNTRY
FIGURE 23 US TO ACCOUNT FOR THE LARGEST SHARE OF THE NORTH AMERICAN MARKET
4.4 MARKET FOR PLANT FACTORY, BY FACILITY TYPE & REGION
FIGURE 24 GREENHOUSES TO DOMINATE THE PLANT FACTORY MARKET IN 2021
4.5 MARKET FOR PLANT FACTORY, BY GROWING SYSTEM
FIGURE 25 SOIL-BASED PLANT FACTORIES TO DOMINATE THE MARKET
4.6 MARKET FOR PLANT FACTORY, BY CROP TYPE
FIGURE 26 THE VEGETABLES SEGMENT TO DOMINATE THE MARKET
4.7 MARKET FOR PLANT FACTORY, BY LIGHT TYPE
FIGURE 27 SUNLIGHT-BASED PLANT FACTORIES TO DOMINATE THE MARKET
4.8 MARKET FOR PLANT FACTORY, BY KEY COUNTRY
FIGURE 28 NETHERLANDS TO BE THE MOST LUCRATIVE MARKET FOR PLANT FACTORIES
5 MARKET OVERVIEW (Page No. - 54)
5.1 INTRODUCTION
5.2 MACROECONOMIC INDICATORS
5.2.1 INCREASING GLOBAL POPULATION
TABLE 3 POPULATION COMPARISON, 2009–2019
FIGURE 29 POPULATION GROWTH TREND, 1950–2050
5.2.2 RAPID URBANIZATION
TABLE 4 URBAN POPULATION PERCENTAGE, 2019
5.3 MARKET DYNAMICS
FIGURE 30 MARKET FOR PLANT FACTORY: MARKET DYNAMICS
5.3.1 DRIVERS
5.3.1.1 Higher yield as compared to traditional agriculture practices
TABLE 5 YIELD OF CROPS: SOIL CULTIVATION VS. HYDROPONICS (LBS/ACRE)
5.3.1.2 Lesser impact of external weather conditions
FIGURE 31 GLOBAL AVERAGE YIELD FOR INDOOR FARMING, BY CROP TYPE, 2015 (‘000 POUNDS PER ACRE)
FIGURE 32 GLOBAL AVERAGE YIELD FOR INDOOR FARMING, BY CROP TYPE, 2015 (‘000 POUNDS PER ACRE)
5.3.1.3 Rise in demand for food due to increasing population and challenges of climate change
5.3.1.3.1 Rise in disposable incomes are leading to increased expenditure on food, fueling demand for food products
FIGURE 33 US: SHARE OF HOUSEHOLD CONSUMER EXPENDITURES BY MAJOR CATEGORIES, 2019
5.3.2 RESTRAINTS
5.3.2.1 High capital investments
5.3.2.2 Requirement of high-precision environment
5.3.3 OPPORTUNITIES
5.3.3.1 Increased adoption of plant factories by restaurants and grocery stores amid the COVID-19 pandemic
5.3.3.1.1 Increased agri-food export among countries fuels the demand for ample yield all-year-round
FIGURE 34 MAJOR AGRI-FOOD EXPORTERS, 2016–2018 (USD BILLION)
5.3.3.2 Rise in demand for floriculture and ornamental horticulture
5.3.3.2.1 Availability of disposable income allows consumers to spend on floriculture and other ornamental horticulture products
FIGURE 35 PER CAPITA GDP, BY COUNTRY, 2019 (USD)
5.3.4 CHALLENGES
5.3.4.1 Tapping into the organic food market
5.3.4.1.1 Augmented demand for organic food products in developed countries
FIGURE 36 COUNTRIES WITH THE HIGHEST PER CAPITA CONSUMPTION OF ORGANIC FOOD, 2015 (USD)
5.3.4.1.2 Debate over certification of food grown in plant factories as “organic”
5.3.4.2 Risk of equipment failure and delay in the learning curve among growers
5.3.4.3 Spread of waterborne diseases and algae in closed systems
5.4 COVID-19 IMPACT ON THE PLANT FACTORY MARKET
6 INDUSTRY TRENDS (Page No. - 66)
6.1 INTRODUCTION
6.2 VALUE CHAIN ANALYSIS
FIGURE 37 VALUE CHAIN OF THE MARKET
6.3 SUPPLY CHAIN ANALYSIS & MARKET ECOSYSTEM MAPPING
6.3.1 SUPPLY CHAIN ANALYSIS
FIGURE 38 SUPPLY CHAIN OF THE MARKET
6.3.2 RAW MATERIAL SOURCING
6.3.3 SYSTEM AND TECHNOLOGY PROVISION
6.3.4 CONSULTING, MANAGEMENT, AND END USERS
6.3.5 MARKET ECOSYSTEM MAPPING
6.3.5.1 Demand side
6.3.5.2 Supply side
6.3.6 PLANT FACTORY: MARKET MAP
TABLE 6 MARKET FOR PLANT FACTORY: SUPPLY CHAIN (ECOSYSTEM)
6.4 TECHNOLOGY ANALYSIS
6.5 YC-YCC SHIFT
FIGURE 39 YC-YCC SHIFT FOR THE MARKET
6.6 PATENT ANALYSIS
FIGURE 40 LIST OF MAJOR PATENTS FOR PLANT FACTORIES
6.6.1 LIST OF MAJOR PATENTS [PLANT FACTORY/CONTROLLED ENVIRONMENT AGRICULTURE (CROPS & TECHNOLOGIES)]
6.7 PORTER’S FIVE FORCES ANALYSIS
TABLE 7 MARKET FOR PLANT FACTORY: PORTER’S FIVE FORCES ANALYSIS
6.7.1 DEGREE OF COMPETITION
6.7.2 BARGAINING POWER OF BUYERS
6.7.3 BARGAINING POWER OF SUPPLIERS
6.7.4 THREAT OF SUBSTITUTES
6.7.5 THREAT OF NEW ENTRANTS
6.8 PRICING ANALYSIS
TABLE 8 AVERAGE COST PRICE, BY TYPE, 2019–2020
6.9 TRADE ANALYSIS
TABLE 9 HS TRADE CODES FOR HYDROPONICS
6.10 CASE STUDIES
TABLE 10 NEED FOR DEVELOPMENT AND INNOVATION IN DEVELOPING NATIONS
TABLE 11 NEED FOR INNOVATION IN THE FRAMEWORK OF VERTICAL FARMS FOR OPTIMIZATION TO GET THE HIGHEST YIELD
7 REGULATIONS (Page No. - 81)
7.1 NORTH AMERICA
7.2 EUROPE
7.3 NORTH AMERICA
7.4 ASIA PACIFIC
7.4.1 INDIA
7.4.2 CHINA
7.4.3 JAPAN
8 PLANT FACTORY MARKET, BY GROWING SYSTEM (Page No. - 84)
8.1 INTRODUCTION
FIGURE 41 MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2021 VS. 2026 (USD BILLION)
TABLE 12 MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
8.1.1 COVID-19 IMPACT ON THE MARKET SIZE, BY GROWING SYSTEM
8.1.1.1 Realistic scenario
TABLE 13 REALISTIC SCENARIO: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2018–2021 (USD BILLION)
8.1.1.2 Optimistic scenario
TABLE 14 OPTIMISTIC SCENARIO: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2018–2021 (USD BILLION)
8.1.1.3 Pessimistic scenario
TABLE 15 PESSIMISTIC SCENARIO: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2018–2021 (USD BILLION)
8.2 NON-SOIL-BASED
8.2.1 NON-SOIL-BASED SYSTEMS OFFER BETTER YIELD AND QUALITY OF PRODUCE COMPARED TO SOIL-BASED SYSTEMS
TABLE 16 NON-SOIL-BASED: MARKET SIZE FOR PLANT FACTORY, BY SUB-SEGMENT, 2019–2026 (USD BILLION)
TABLE 17 NON-SOIL-BASED: MARKET SIZE FOR PLANT FACTORY, BY REGION, 2019–2026 (USD BILLION)
8.2.2 HYDROPONICS
8.2.3 AEROPONICS
8.2.4 AQUAPONICS
8.3 SOIL-BASED
8.3.1 SOIL-BASED GROWING SYSTEMS—A TACTICAL ALTERNATIVE TO TRADITIONAL SOIL-BASED AGRICULTURE
TABLE 18 SOIL-BASED: PLANT FACTORY MARKET SIZE, BY REGION, 2019–2026 (USD BILLION)
8.4 HYBRID
8.4.1 HYBRID SYSTEMS TO OFFER A DUAL ADVANTAGE FOR OPTIMUM PRODUCTION
TABLE 19 HYBRID: MARKET SIZE FOR PLANT FACTORY, BY REGION, 2019–2026 (USD BILLION)
9 PLANT FACTORY MARKET, BY FACILITY TYPE (Page No. - 91)
9.1 INTRODUCTION
FIGURE 42 MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2021 VS. 2026 (USD BILLION)
TABLE 20 MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
9.1.1 COVID-19 IMPACT ON THE PLANT FACTORY MARKET SIZE, BY FACILITY TYPE
9.1.1.1 Realistic scenario
TABLE 21 REALISTIC SCENARIO: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2018–2021 (USD BILLION)
9.1.1.2 Optimistic scenario
TABLE 22 OPTIMISTIC SCENARIO: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2018–2021 (USD BILLION)
9.1.1.3 Pessimistic scenario
TABLE 23 PESSIMISTIC SCENARIO: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2018–2021 (USD BILLION)
9.2 GREENHOUSES
9.2.1 GREENHOUSES PROVIDE HIGHER PROFITABILITY AND GROWTH PROSPECTS COMPARED TO OTHER CEA FACILITIES
TABLE 24 GREENHOUSES PLANT FACTORY MARKET SIZE, BY REGION, 2019–2026 (USD BILLION)
9.3 INDOOR FARMS
9.3.1 INDOOR FARMS HELP BRING PRODUCTION OPERATIONS CLOSER TO POPULATION CENTERS
TABLE 25 INDOOR FARMS MARKET SIZE, BY REGION, 2019–2026 (USD BILLION)
9.4 OTHER FACILITY TYPES
9.4.1 THE UNAVAILABILITY OF ARABLE LAND DRIVES THE MARKET FOR CEA FACILITIES
TABLE 26 OTHER PLANT FACTORY FACILITY TYPES MARKET SIZE, BY REGION, 2019–2026 (USD BILLION)
10 PLANT FACTORY MARKET, BY CROP TYPE (Page No. - 97)
10.1 INTRODUCTION
FIGURE 43 MARKET SIZE FOR PLANT FACTORY, BY CROP TYPE, 2021 VS. 2026 (USD BILLION)
TABLE 27 MARKET SIZE FOR PLANT FACTORY, BY CROP TYPE, 2019–2026 (USD BILLION)
10.1.1 COVID-19 IMPACT ON THE PLANT FACTORY MARKET SIZE, BY CROP TYPE
10.1.1.1 Realistic scenario
TABLE 28 REALISTIC SCENARIO: MARKET SIZE FOR PLANT FACTORY, BY CROP TYPE, 2018–2021 (USD BILLION)
TABLE 29 OPTIMISTIC SCENARIO: MARKET SIZE FOR PLANT FACTORY, BY CROP TYPE, 2018–2021 (USD BILLION)
10.1.1.3 Pessimistic scenario
TABLE 30 PESSIMISTIC SCENARIO: MARKET SIZE FOR PLANT FACTORY, BY CROP TYPE, 2018–2021 (USD BILLION)
10.2 FRUITS
10.2.1 BENEFITS OF YEAR-ROUND HARVESTS SUPPLEMENT FRUIT CULTIVATION IN PLANT FACTORIES
TABLE 31 FRUITS: MARKET SIZE FOR PLANT FACTORY, BY FRUIT TYPE, 2019–2026 (USD BILLION)
TABLE 32 FRUITS: MARKET SIZE FOR PLANT FACTORY, BY REGION, 2019–2026 (USD BILLION)
10.2.2 BERRIES
10.2.2.1 Seasonal availability of berries to fuel the need for production in plant factories
10.2.3 OTHER FRUITS
10.2.3.1 Melons and grapes are among the optimum choices for controlled environment production
10.3 VEGETABLES
10.3.1 EASE OF PRODUCTION IN PLANT FACTORIES TO DRIVE THE DEMAND FOR VEGETABLES
TABLE 33 VEGETABLES: PLANT FACTORY MARKET SIZE, BY VEGETABLE TYPE, 2019–2026 (USD BILLION)
TABLE 34 VEGETABLES: MARKET SIZE FOR PLANT FACTORY, BY REGION, 2019–2026 (USD BILLION)
10.3.2 TOMATO
10.3.2.1 Enhanced nutritive value of tomatoes grown in plant factories to drive the demand
10.3.3 LEAFY GREENS
10.3.3.1 Enhanced shelf-life due to CEA to propel the demand for leafy greens
TABLE 35 LEAFY GREENS: MARKET SIZE FOR PLANT FACTORY, BY LEAFY GREENS TYPE, 2019–2026 (USD BILLION)
10.3.3.1.1 Lettuce
10.3.3.1.2 Kale
10.3.3.1.3 Spinach
10.3.3.1.4 Other leafy greens
10.3.4 EGGPLANT
10.3.4.1 High sensitivity to external conditions to augment the production of eggplant in plant factories
10.3.5 HERBS & MICROGREENS
10.3.5.1 Microgreens are increasingly grown in plant factories to retain the peak flavor intensity
TABLE 36 HERBS AND MICROGREENS: MARKET SIZE FOR PLANT FACTORY, BY HERBS AND MICROGREENS TYPE, 2019–2026 (USD BILLION)
10.3.5.1.1 Basil
10.3.5.1.2 Herbs
10.3.5.1.3 Tarragon
10.3.5.1.4 Wheatgrass
10.3.6 OTHER VEGETABLES
10.3.6.1 Vining properties of vegetables to augment the need for enclosed agricultural methods
10.4 FLOWER & ORNAMENTAL
10.4.1 THE FAST-GROWING FLORICULTURE INDUSTRY TO DRIVE THE MARKET
TABLE 37 FLOWER AND ORNAMENTAL: MARKET SIZE FOR PLANT FACTORY, BY FLOWER AND ORNAMENTAL TYPE, 2019–2026 (USD BILLION)
TABLE 38 FLOWER & ORNAMENTAL: MARKET SIZE FOR PLANT FACTORY, BY REGION, 2019–2026 (USD BILLION)
10.4.2 PERENNIALS
10.4.2.1 Ease of production to drive the market for perennials produced in plant factories
10.4.3 ANNUALS
10.4.3.1 Ornamental annuals widely cultivated in indoor farms and greenhouses
10.4.4 BIENNIAL
10.4.4.1 Longer growth periods of biennials to propel their production in secure environments
10.5 OTHER CROP TYPES
10.5.1 LEGALIZATION TO DRIVE THE DEMAND FOR CANNABIS PRODUCED IN PLANT FACTORIES
TABLE 39 OTHER CROP TYPES: MARKET SIZE FOR PLANT FACTORY, BY REGION, 2019–2026 (USD BILLION)
11 PLANT FACTORY MARKET, BY LIGHT TYPE (Page No. - 110)
11.1 INTRODUCTION
FIGURE 44 MARKET FOR PLANT FACTORY, BY LIGHT TYPE, 2021 VS. 2026 (USD BILLION)
TABLE 40 MARKET FOR PLANT FACTORY, BY LIGHT TYPE, 2019–2026 (USD BILLION)
11.2 COVID-19 IMPACT ANALYSIS, BY LIGHT TYPE
TABLE 41 OPTIMISTIC SCENARIO: MARKET SIZE FOR PLANT FACTORY, BY LIGHT TYPE, 2018–2021 (USD BILLION)
TABLE 42 REALISTIC SCENARIO: MARKET SIZE FOR PLANT FACTORY, BY LIGHT TYPE, 2018–2021 (USD BILLION)
TABLE 43 PESSIMISTIC SCENARIO: MARKET SIZE FOR PLANT FACTORY, BY LIGHT TYPE, 2018–2021 (USD BILLION)
11.3 FULL ARTIFICIAL LIGHT
TABLE 44 FULL ARTIFICIAL LIGHT: MARKET FOR PLANT FACTORY, BY REGION, 2019–2026 (USD BILLION)
11.4 SUNLIGHT
TABLE 45 SUNLIGHT: MARKET FOR PLANT FACTORY, BY REGION, 2019–2026 (USD BILLION)
12 PLANT FACTORY MARKET, BY REGION (Page No. - 115)
12.1 INTRODUCTION
FIGURE 45 NETHERLANDS TO BE THE MOST LUCRATIVE MARKET IN THE PLANT FACTORY MARKET BY 2026
TABLE 46 MARKET SIZE FOR PLANT FACTORY, BY REGION, 2019–2026 (USD BILLION)
12.1.1 COVID-19 IMPACT ON THE PLANT FACTORY MARKET, BY REGION
12.1.1.1 Realistic Scenario
TABLE 47 REALISTIC SCENARIO: COVID-19 IMPACT ON THE PLANT FACTORY MARKET SIZE, BY REGION, 2018–2021 (USD BILLION)
12.1.1.2 Optimistic Scenario
TABLE 48 OPTIMISTIC SCENARIO: COVID-19 IMPACT ON THE MARKET SIZE, BY REGION, 2018–2021 (USD BILLION)
12.1.1.3 Pessimistic Scenario
TABLE 49 PESSIMISTIC SCENARIO: COVID-19 IMPACT ON THE MARKET SIZE, BY REGION, 2018–2021 (USD BILLION)
12.2 NORTH AMERICA
FIGURE 46 NORTH AMERICA: REGIONAL SNAPSHOT
TABLE 50 NORTH AMERICA: PLANT FACTORY MARKET SIZE, BY COUNTRY, 2019–2026 (USD BILLION)
TABLE 51 NORTH AMERICA: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 52 NORTH AMERICA: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
TABLE 53 NORTH AMERICA: MARKET SIZE FOR PLANT FACTORY, BY LIGHT TYPE, 2019–2026 (USD BILLION)
TABLE 54 NORTH AMERICA: MARKET SIZE FOR PLANT FACTORY, BY CROP TYPE, 2019–2026 (USD BILLION)
12.2.1 US
12.2.1.1 Favorable government schemes and introduction of newer farming kits and techniques by plant factory system providers
TABLE 55 US: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 56 US: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.2.2 CANADA
12.2.2.1 High awareness about modern farming techniques
TABLE 57 CANADA: MAJOR CROPS GROWN IN GREENHOUSES, 2015
FIGURE 47 CANADA: SPECIES OF GREENHOUSE-GROWN FLOWERS, 2015
TABLE 58 CANADA: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 59 CANADA: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.2.3 MEXICO
12.2.3.1 Larger greenhouse area used for cultivation
TABLE 60 MEXICO: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 61 MEXICO: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.3 EUROPE
FIGURE 48 EUROPEAN PLANT FACTORY MARKET SNAPSHOT
12.3.1 COVID-19 IMPACT ON THE PLANT MARKET IN EUROPE
TABLE 62 EUROPE: PLANT FACTORY TYPE MARKET SIZE, BY COUNTRY/REGION, 2019–2026 (USD BILLION)
TABLE 63 EUROPE: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 64 EUROPE: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
TABLE 65 EUROPE: MARKET SIZE FOR PLANT FACTORY, BY LIGHT TYPE, 2019–2026 (USD BILLION)
TABLE 66 EUROPE: MARKET SIZE FOR PLANT FACTORY, BY CROP TYPE, 2019–2026 (USD BILLION)
12.3.2 NETHERLANDS
12.3.2.1 Increasing inclination toward efficient farming
TABLE 67 NETHERLANDS: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 68 NETHERLANDS: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.3.3 SPAIN
12.3.3.1 Increase in investments in sustainable farming practices and advanced set-ups to achieve higher volumes of produce
TABLE 69 SPAIN: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 70 SPAIN: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.3.4 ITALY
12.3.4.1 Growth in organic croplands and rise in demand for and supply of organic products
TABLE 71 ITALY: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 72 ITALY: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.3.5 UK
12.3.5.1 Various players are expanding indoor farming and vertical farming businesses
TABLE 73 UK: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 74 UK: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.3.6 FRANCE
12.3.6.1 Gradual adoption of modern farming techniques
TABLE 75 FRANCE: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 76 FRANCE: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.3.7 TURKEY
12.3.7.1 Increase in protected cultivation
TABLE 77 TURKEY: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 78 TURKEY: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.3.8 REST OF EUROPE
12.3.8.1 Demand for controlled environment agriculture
TABLE 79 REST OF EUROPE: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 80 REST OF EUROPE: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.4 ASIA PACIFIC
FIGURE 49 ASIA PACIFIC: PLANT FACTORY MARKET SNAPSHOT
TABLE 81 ASIA PACIFIC: MARKET SIZE FOR PLANT FACTORY, BY COUNTRY/REGION, 2019–2026 (USD BILLION)
TABLE 82 ASIA PACIFIC: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 83 ASIA PACIFIC: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
TABLE 84 ASIA PACIFIC: MARKET SIZE FOR PLANT FACTORY, BY LIGHT TYPE, 2019–2026 (USD BILLION)
TABLE 85 ASIA PACIFIC: MARKET SIZE FOR PLANT FACTORY, BY CROP TYPE, 2019–2026 (USD BILLION)
12.4.1 CHINA
12.4.1.1 High adoption rate of plant factories and increasing population
TABLE 86 CHINA: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 87 CHINA: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.4.2 JAPAN
12.4.2.1 Staunch initiatives from the government and member companies
TABLE 88 JAPAN: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 89 JAPAN: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.4.3 SINGAPORE
12.4.3.1 Food security concerns and extensive R&D
TABLE 90 SINGAPORE: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 91 SINGAPORE: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.4.4 INDIA
12.4.4.1 Local players establishing partnerships with global companies
TABLE 92 INDIA: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 93 INDIA: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.4.5 AUSTRALIA & NEW ZEALAND
12.4.5.1 Freshwater scarcity and harsh terrains of land bolstering the need for plant factories
TABLE 94 AUSTRALIA & NEW ZEALAND: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 95 AUSTRALIA & NEW ZEALAND: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.4.6 SOUTH KOREA
12.4.6.1 Favorable government legislation and investments by major players
TABLE 96 SOUTH KOREA: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 97 SOUTH KOREA: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.4.7 TAIWAN
12.4.7.1 Lack of space and destructive calamities augmenting the plant factory market
TABLE 98 TAIWAN: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 99 TAIWAN: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.4.8 REST OF ASIA PACIFIC
12.4.8.1 Lack of space and destructive calamities augmenting the plant factory market
TABLE 100 REST OF ASIA PACIFIC: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 101 REST OF ASIA PACIFIC: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.5 SOUTH AMERICA
TABLE 102 SOUTH AMERICA: PLANT FACTORY MARKET SIZE, BY COUNTRY/REGION, 2019–2026 (USD BILLION)
TABLE 103 SOUTH AMERICA: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 104 SOUTH AMERICA: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
TABLE 105 SOUTH AMERICA: MARKET SIZE FOR PLANT FACTORY, BY LIGHT TYPE, 2019–2026 (USD BILLION)
TABLE 106 SOUTH AMERICA: MARKET SIZE FOR PLANT FACTORY, BY CROP TYPE, 2019–2026 (USD BILLION)
12.5.1 BRAZIL
12.5.1.1 High adoption rate of plant factories
TABLE 107 BRAZIL: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 108 BRAZIL: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.5.2 ARGENTINA
12.5.2.1 Growth in the agricultural sector
TABLE 109 ARGENTINA: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 110 ARGENTINA: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.5.3 REST OF SOUTH AMERICA
12.5.3.1 Lack of water availability and inconvenient land structures facilitating the need for plant factories
TABLE 111 REST OF SOUTH AMERICA: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 112 REST OF SOUTH AMERICA: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.6 REST OF THE WORLD
TABLE 113 ROW: PLANT FACTORY MARKET SIZE, BY REGION, 2019–2026 (USD BILLION)
TABLE 114 ROW: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 115 ROW: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
TABLE 116 ROW: MARKET SIZE FOR PLANT FACTORY, BY LIGHT TYPE, 2019–2026 (USD BILLION)
TABLE 117 ROW: MARKET SIZE FOR PLANT FACTORY, BY CROP TYPE, 2019–2026 (USD BILLION)
12.6.1 AFRICA
12.6.1.1 Conscious efforts by the government
TABLE 118 AFRICA: MARKET SIZE FOR PLANT FACTORY, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 119 AFRICA: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
12.6.2 MIDDLE EAST
12.6.2.1 Lack of fresh water augmenting the demand for CEA practices
TABLE 120 MIDDLE EAST: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
TABLE 121 MIDDLE EAST: MARKET SIZE FOR PLANT FACTORY, BY FACILITY TYPE, 2019–2026 (USD BILLION)
13 COMPETITIVE LANDSCAPE (Page No. - 163)
13.1 OVERVIEW
13.2 MARKET SHARE ANALYSIS OF PLANT FACTORY COMPANIES
TABLE 122 MARKET FOR PLANT FACTORY: DEGREE OF COMPETITION
13.3 KEY PLAYER STRATEGIES
13.4 REVENUE ANALYSIS OF KEY PLAYERS
FIGURE 50 MARKET FOR PLANT FACTORY: REVENUE ANALYSIS, 2016–2020 (USD MILLION)
13.5 COVID-19 SPECIFIC COMPANY RESPONSE
13.6 COMPANY EVALUATION QUADRANT: DEFINITIONS & METHODOLOGY (OVERALL MARKET)
13.6.1 STARS
13.6.2 EMERGING LEADERS
13.6.3 PERVASIVE PLAYERS
13.6.4 PARTICIPANTS
FIGURE 51 PLANT FACTORY MARKET: COMPANY EVALUATION QUADRANT,2019 (KEY PLAYERS)
13.7 PRODUCT FOOTPRINT
TABLE 123 PLANT FACTORY MARKET: COMPANY PRODUCT FOOTPRINT
TABLE 124 MARKET FOR PLANT FACTORY: COMPANY INDUSTRY FOOTPRINT
13.8 REGIONAL FOOTPRINT
TABLE 125 PLANT FACTORY MARKET: COMPANY REGIONAL FOOTPRINT
TABLE 126 MARKET FOR PLANT FACTORY: COMPANY FOOTPRINT
13.9 COMPANY EVALUATION QUADRANT (START-UPS/SMES)
13.9.1 PROGRESSIVE COMPANIES
13.9.2 STARTING BLOCKS
13.9.3 RESPONSIVE COMPANIES
13.9.4 DYNAMIC COMPANIES
FIGURE 52 MARKET FOR PLANT FACTORY: COMPANY EVALUATION MATRIX, 2020 (START-UPS/SMES)
13.10 COMPETITIVE SCENARIO
13.10.1 DEALS
TABLE 127 DEALS, 2018–2021
13.10.2 OTHERS
TABLE 128 OTHERS, 2018–2021
14 COMPANY PROFILES (Page No. - 177)
(Business overview, Products offered, Recent developments & MnM View)*
14.1 KEY PLAYERS
14.1.1 AEROFARMS
TABLE 129 AEROFARMS: BUSINESS OVERVIEW
TABLE 130 AEROFARMS: PLANT FACTORY MARKET: DEALS
TABLE 131 AEROFARMS: MARKET FOR PLANT FACTORY: OTHERS
14.1.2 GOTHAM GREENS
TABLE 132 GOTHAM GREENS: BUSINESS OVERVIEW
TABLE 133 GOTHAM GREENS: PLANT FACTORY MARKET: OTHERS
14.1.3 BOWERY FARMING
TABLE 134 BOWERY FARMING: BUSINESS OVERVIEW
14.1.4 OISHII
TABLE 135 OISHII: BUSINESS OVERVIEW
14.1.5 PLENTY UNLIMITED INC
TABLE 136 PLENTY UNLIMITED INC.: BUSINESS OVERVIEW
TABLE 137 PLENTY UNLIMITED INC. PLANT FACTORY MARKET: DEALS
TABLE 138 PLENTY UNLIMITED INC. MARKET FOR PLANT FACTORY: OTHERS
14.1.6 MIRAI CO., LTD.
TABLE 139 MIRAI CO LTD. BUSINESS OVERVIEW
TABLE 140 MIRAI CO. LTD. PLANT FACTORY MARKET: DEALS
14.1.7 AGRICOOL
TABLE 141 AGRICOOL: BUSINESS OVERVIEW
14.1.8 APPHARVEST
TABLE 142 APPHARVEST: BUSINESS OVERVIEW
TABLE 143 MARKET FOR PLANT FACTORY: APPHARVEST: OTHERS
TABLE 144 APPHARVEST: PLANT FACTORY MARKET: DEALS
14.1.9 CROP ONE
TABLE 145 CROP ONE: BUSINESS OVERVIEW
14.1.10 BRIGHTFARMS
TABLE 146 BRIGHTFARMS: BUSINESS OVERVIEW
14.2 OTHER PLAYERS
14.2.1 FARMINOVA PLANT FACTORY N.V.
TABLE 147 FARMINOVA PLANT FACTORY N.V. BUSINESS OVERVIEW
14.2.2 TAIKISHA LTD.
TABLE 148 TAIKISHA LTD.: BUSINESS OVERVIEW
FIGURE 53 TAIKISHA CO LTD: COMPANY SNAPSHOT
14.2.3 IRON OX
TABLE 149 IRON OX: BUSINESS OVERVIEW
TABLE 150 IRON OX: PLANT FACTORY MARKET: OTHERS
14.2.4 VERTICAL HARVEST
TABLE 151 VERTICAL HARVEST: BUSINESS OVERVIEW
14.2.5 SMALLHOLD
TABLE 152 SMALLHOLD: BUSINESS OVERVIEW
14.2.6 BADIA FARMS
14.2.7 FARMONE
14.2.8 KALERA
14.2.9 SKY GREENS
14.2.10 DREAM HARVEST FARMING COMPANY LLC
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
15 ADJACENT & RELATED MARKETS (Page No. - 214)
15.1 INTRODUCTION
TABLE 153 ADJACENT MARKETS FOR PLANT FACTORY
15.2 LIMITATIONS
15.3 HYDROPONICS MARKET
15.3.1 MARKET DEFINITION
15.3.2 MARKET OVERVIEW
15.4 HYDROPONICS MARKET, BY TYPE
15.4.1 INTRODUCTION
TABLE 154 HYDROPONICS MARKET SIZE, BY TYPE, 2018–2026 (USD MILLION)
15.5 INDOOR FARMING TECHNOLOGY MARKET
15.5.1 MARKET DEFINITION
15.5.2 MARKET OVERVIEW
15.6 INDOOR FARMING TECHNOLOGY MARKET, BY FACILITY TYPE
TABLE 155 INDOOR FARMING TECHNOLOGY MARKET SIZE, BY FACILITY TYPE, 2015–2018 (USD MILLION)
16 APPENDIX (Page No. - 218)
16.1 DISCUSSION GUIDE
16.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
16.3 AVAILABLE CUSTOMIZATIONS
16.4 RELATED REPORTS
16.5 AUTHOR DETAILS
The study involved four major activities in estimating the plant factory market size. Exhaustive secondary research was conducted to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet, were referred to, to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold & silver standard websites, regulatory bodies, trade directories, and databases.
Primary Research
The market comprises several stakeholders, such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of the market is characterized by the presence of manufacturing companies and government organizations, service providing company officials, government and research organizations, and research officers. The supply side is characterized by the presence of key CEOs and vice presidents, marketing directors, product innovation directors and related key executives from manufacturing companies and organizations operating in the market, and manufacturing and marketing companies. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
Given below is the breakdown of the primary respondents:
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total size of the market. These approaches were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following details:
- The key players were identified through extensive secondary research.
- The COVID-19 impact on market size of plant factory was determined through primary and secondary research.
- All percentage share splits and breakdowns were determined using secondary sources and verified through primary sources.
- All the possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
Data Triangulation
After arriving at the overall market size from the estimation process described above, the total market was split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides. In addition, the market size was validated using both top-down and bottom-up approaches. It was then verified through primary interviews. Hence, three approaches were adopted—top-down approach, bottom-up approach, and the one involving expert interviews. Only when the values arrived at from the three points match, the data is assumed to be correct.
Report Objectives
- Determining and projecting the size of the market, with respect to growing system, facility type, light type, crop type, and regional markets, over a period, ranging from 2021 to 2026.
- Identifying the attractive opportunities in the market by determining the largest and fastest-growing segments across regions.
- Providing detailed information about the impact of COVID-19 on plant factory supply chain and its impact on various stakeholders such as suppliers, manufacturers, and retailers across the supply chain.
- Providing detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- Analyzing the micromarkets, with respect to individual growth trends, prospects, and their contribution to the total market
- Identifying and profiling the key players in the market and impact of COVID-19 on the key vendors.
- Providing a comparative analysis of market leaders on the basis of the following:
- Product offerings
- Business strategies
- Strengths and weaknesses
- Understanding the competitive landscape and identifying the major growth strategies adopted by players across the key regions.
- Analyzing the value chain and products offered across key regions and their impact on the growth of the prominent market players
- Providing insights on key product innovations and investments in the market.
Available Customizations
Geographical Analysis
- Further breakdown of the Rest of Europe plant factory market, by key country
- Further breakdown of the Rest of Asia Pacific plant factory market, by key country
Segmentation Analysis
- Market segmentation analysis of other facility types of plant factory
- Market segmentation by other crop types
Company Information
- Analyses and profiling of additional market players (up to five)
Growth opportunities and latent adjacency in Plant Factory Market