Plant Factory Market

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

Report Code: AGI 7962 Aug, 2021, by marketsandmarkets.com

[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 plant factory 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.

Plant Factory Market

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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.

Plant Factory Market by Region

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).

Scope of the report

Report Metric

Details

Market size estimation

2016–2019

Base year considered

2020

Forecast period considered

2021–2026

Units considered

Value (USD)

Segments Covered

  • Growing system
  • Facility type
  • Light type
  • Crop type

Regions covered

  • North America
  • Europe
  • Asia Pacific
  • South America
  • RoW

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 plant factory market has been segmented as follows:

  • Greenhouses
  • Indoor farms
  • Other facility types (container farms and water culture farms)

Based on light type, the plant factory market has been segmented as follows:

  • Sunlight
  • Full artificial light

Based on growing system, the plant factory market has been segmented as follows:

  • Non-soil-based
  • Soil-based
  • Hybrid

Based on crop type, the plant factory market has been segmented as follows:

  • Fruits
  • Vegetables
  • Flower & ornamental
  • Other crop types (plantation and forage crops)

Based on the region, the plant factory 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):

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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 PLANT FACTORY MARKET: 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 PLANT FACTORY MARKET SIZE ESTIMATION: SUPPLY SIDE (2/2)
           FIGURE 6 PLANT FACTORY MARKET SIZE ESTIMATION: DEMAND SIDE
           2.2.1 MARKET SIZE ESTIMATION NOTES
                    FIGURE 7 PLANT FACTORY MARKET SIZE ESTIMATION – TOP-DOWN APPROACH
                    FIGURE 8 PLANT FACTORY 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 PLANT FACTORY MARKET SNAPSHOT, 2021 VS. 2026
    FIGURE 16 PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2021 VS. 2026 (USD BILLION)
    FIGURE 17 PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2021 VS. 2026 (USD BILLION)
    FIGURE 18 PLANT FACTORY MARKET SIZE, BY CROP TYPE, 2021 VS. 2026 (USD BILLION)
    FIGURE 19 PLANT FACTORY MARKET SIZE, BY LIGHT TYPE, 2021 VS. 2026 (USD BILLION)
    FIGURE 20 PLANT FACTORY MARKET SHARE, BY REGION, 2021

4 PREMIUM INSIGHTS (Page No. - 49)
    4.1 BRIEF OVERVIEW OF THE PLANT FACTORY MARKET
           FIGURE 21 RISING POPULATION AND CONCERNS OVER FOOD SECURITY TO DRIVE THE GROWTH OF THE PLANT FACTORY MARKET
    4.2 PLANT FACTORY MARKET: MAJOR REGIONAL SUBMARKETS
           FIGURE 22 US IS THE LARGEST MARKET GLOBALLY FOR PLANT FACTORIES IN 2021
    4.3 NORTH AMERICA: PLANT FACTORY MARKET, BY TYPE & COUNTRY
           FIGURE 23 US TO ACCOUNT FOR THE LARGEST SHARE OF THE NORTH AMERICAN MARKET
    4.4 PLANT FACTORY MARKET, BY FACILITY TYPE & REGION
           FIGURE 24 GREENHOUSES TO DOMINATE THE PLANT FACTORY MARKET IN 2021
    4.5 PLANT FACTORY MARKET, BY GROWING SYSTEM
           FIGURE 25 SOIL-BASED PLANT FACTORIES TO DOMINATE THE MARKET
    4.6 PLANT FACTORY MARKET, BY CROP TYPE
           FIGURE 26 THE VEGETABLES SEGMENT TO DOMINATE THE PLANT FACTORY MARKET
    4.7 PLANT FACTORY MARKET, BY LIGHT TYPE
           FIGURE 27 SUNLIGHT-BASED PLANT FACTORIES TO DOMINATE THE PLANT FACTORY MARKET
    4.8 PLANT FACTORY MARKET, 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 PLANT FACTORY MARKET: 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 PLANT FACTORY MARKET
    6.3 SUPPLY CHAIN ANALYSIS & MARKET ECOSYSTEM MAPPING
           6.3.1 SUPPLY CHAIN ANALYSIS
                    FIGURE 38 SUPPLY CHAIN OF THE PLANT FACTORY 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 PLANT FACTORY MARKET: SUPPLY CHAIN (ECOSYSTEM)
    6.4 TECHNOLOGY ANALYSIS
    6.5 YC-YCC SHIFT
           FIGURE 39 YC-YCC SHIFT FOR THE PLANT FACTORY 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 PLANT FACTORY MARKET: 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 PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2021 VS. 2026 (USD BILLION)
           TABLE 12 PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
           8.1.1 COVID-19 IMPACT ON THE PLANT FACTORY 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: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2018–2021 (USD BILLION)
                    8.1.1.3 Pessimistic scenario
                               TABLE 15 PESSIMISTIC SCENARIO: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY SUB-SEGMENT, 2019–2026 (USD BILLION)
                    TABLE 17 NON-SOIL-BASED: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY REGION, 2019–2026 (USD BILLION)

9 PLANT FACTORY MARKET, BY FACILITY TYPE (Page No. - 91)
    9.1 INTRODUCTION
           FIGURE 42 PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2021 VS. 2026 (USD BILLION)
           TABLE 20 PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2018–2021 (USD BILLION)
                    9.1.1.3 Pessimistic scenario
                               TABLE 23 PESSIMISTIC SCENARIO: PLANT FACTORY MARKET SIZE, 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 PLANT FACTORY MARKET SIZE, BY CROP TYPE, 2021 VS. 2026 (USD BILLION)
             TABLE 27 PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY CROP TYPE, 2018–2021 (USD BILLION)

                                     TABLE 29 OPTIMISTIC SCENARIO: PLANT FACTORY MARKET SIZE, BY CROP TYPE, 2018–2021 (USD BILLION)
                        10.1.1.3 Pessimistic scenario
                                     TABLE 30 PESSIMISTIC SCENARIO: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY FRUIT TYPE, 2019–2026 (USD BILLION)
                        TABLE 32 FRUITS: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, 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 PLANT FACTORY MARKET
                        TABLE 37 FLOWER AND ORNAMENTAL: PLANT FACTORY MARKET SIZE, BY FLOWER AND ORNAMENTAL TYPE, 2019–2026 (USD BILLION)
                        TABLE 38 FLOWER & ORNAMENTAL: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY REGION, 2019–2026 (USD BILLION)

11 PLANT FACTORY MARKET, BY LIGHT TYPE (Page No. - 110)
     11.1 INTRODUCTION
             FIGURE 44 PLANT FACTORY MARKET, BY LIGHT TYPE, 2021 VS. 2026 (USD BILLION)
             TABLE 40 PLANT FACTORY MARKET, BY LIGHT TYPE, 2019–2026 (USD BILLION)
     11.2 COVID-19 IMPACT ANALYSIS, BY LIGHT TYPE
             TABLE 41 OPTIMISTIC SCENARIO: PLANT FACTORY MARKET SIZE, BY LIGHT TYPE, 2018–2021 (USD BILLION)
             TABLE 42 REALISTIC SCENARIO: PLANT FACTORY MARKET SIZE, BY LIGHT TYPE, 2018–2021 (USD BILLION)
             TABLE 43 PESSIMISTIC SCENARIO: PLANT FACTORY MARKET SIZE, BY LIGHT TYPE, 2018–2021 (USD BILLION)
     11.3 FULL ARTIFICIAL LIGHT
             TABLE 44 FULL ARTIFICIAL LIGHT: PLANT FACTORY MARKET, BY REGION, 2019–2026 (USD BILLION)
     11.4 SUNLIGHT
             TABLE 45 SUNLIGHT: PLANT FACTORY MARKET, 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 PLANT FACTORY MARKET SIZE, 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 PLANT FACTORY MARKET SIZE, BY REGION, 2018–2021 (USD BILLION)
                        12.1.1.3 Pessimistic Scenario
                                     TABLE 49 PESSIMISTIC SCENARIO: COVID-19 IMPACT ON THE PLANT FACTORY 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: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
             TABLE 52 NORTH AMERICA: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2019–2026 (USD BILLION)
             TABLE 53 NORTH AMERICA: PLANT FACTORY MARKET SIZE, BY LIGHT TYPE, 2019–2026 (USD BILLION)
             TABLE 54 NORTH AMERICA: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
                                     TABLE 56 US: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2019–2026 (USD BILLION)
             12.2.3 MEXICO
                        12.2.3.1 Larger greenhouse area used for cultivation
                                     TABLE 60 MEXICO: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
                                     TABLE 61 MEXICO: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
                        TABLE 64 EUROPE: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2019–2026 (USD BILLION)
                        TABLE 65 EUROPE: PLANT FACTORY MARKET SIZE, BY LIGHT TYPE, 2019–2026 (USD BILLION)
                        TABLE 66 EUROPE: PLANT FACTORY MARKET SIZE, BY CROP TYPE, 2019–2026 (USD BILLION)
             12.3.2 NETHERLANDS
                        12.3.2.1 Increasing inclination toward efficient farming
                                     TABLE 67 NETHERLANDS: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
                                     TABLE 68 NETHERLANDS: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
                                     TABLE 72 ITALY: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
                                     TABLE 74 UK: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2019–2026 (USD BILLION)
             12.3.7 TURKEY
                        12.3.7.1 Increase in protected cultivation
                                     TABLE 77 TURKEY: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
                                     TABLE 78 TURKEY: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2019–2026 (USD BILLION)
     12.4 ASIA PACIFIC
             FIGURE 49 ASIA PACIFIC: PLANT FACTORY MARKET SNAPSHOT
             TABLE 81 ASIA PACIFIC: PLANT FACTORY MARKET SIZE, BY COUNTRY/REGION, 2019–2026 (USD BILLION)
             TABLE 82 ASIA PACIFIC: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
             TABLE 83 ASIA PACIFIC: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2019–2026 (USD BILLION)
             TABLE 84 ASIA PACIFIC: PLANT FACTORY MARKET SIZE, BY LIGHT TYPE, 2019–2026 (USD BILLION)
             TABLE 85 ASIA PACIFIC: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
                                     TABLE 87 CHINA: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
                                     TABLE 91 SINGAPORE: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
                                     TABLE 93 INDIA: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
                                     TABLE 95 AUSTRALIA & NEW ZEALAND: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
                                     TABLE 97 SOUTH KOREA: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
             TABLE 104 SOUTH AMERICA: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2019–2026 (USD BILLION)
             TABLE 105 SOUTH AMERICA: PLANT FACTORY MARKET SIZE, BY LIGHT TYPE, 2019–2026 (USD BILLION)
             TABLE 106 SOUTH AMERICA: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2019–2026 (USD BILLION)
             12.5.2 ARGENTINA
                        12.5.2.1 Growth in the agricultural sector
                                     TABLE 109 ARGENTINA: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
                                     TABLE 110 ARGENTINA: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
             TABLE 115 ROW: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2019–2026 (USD BILLION)
             TABLE 116 ROW: PLANT FACTORY MARKET SIZE, BY LIGHT TYPE, 2019–2026 (USD BILLION)
             TABLE 117 ROW: PLANT FACTORY MARKET SIZE, BY CROP TYPE, 2019–2026 (USD BILLION)
             12.6.1 AFRICA
                        12.6.1.1 Conscious efforts by the government
                                     TABLE 118 AFRICA: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION)
                                     TABLE 119 AFRICA: PLANT FACTORY MARKET SIZE, 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: PLANT FACTORY MARKET SIZE, 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 PLANT FACTORY MARKET: DEGREE OF COMPETITION
     13.3 KEY PLAYER STRATEGIES
     13.4 REVENUE ANALYSIS OF KEY PLAYERS
             FIGURE 50 PLANT FACTORY MARKET: 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 PLANT FACTORY MARKET: COMPANY INDUSTRY FOOTPRINT
     13.8 REGIONAL FOOTPRINT
             TABLE 125 PLANT FACTORY MARKET: COMPANY REGIONAL FOOTPRINT
             TABLE 126 PLANT FACTORY MARKET: 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 PLANT FACTORY MARKET: 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: PLANT FACTORY MARKET: 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. PLANT FACTORY MARKET: 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 PLANT FACTORY MARKET: 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:

Plant Factory Market 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 plant factory 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 plant factory 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 plant factory 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 plant factory 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)
COVID-19

Get in-depth analysis of the COVID-19 impact on the Plant Factory Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Plant Factory Market

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Published ON
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