New York, Oct. 05, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Global Plant Factory Market, By Facility Type, By Light, By Growing System, By Type, By Region, Competition Forecast & Opportunities, 2027 – https://www.reportlinker.com/p06325865/?utm_source=GNW
The global plant mills market is expected to witness robust growth over the forecast period, 2023-2027. This can be attributed to the growing need to meet the food demands of an ever-increasing world population.
The world population is expected to increase by about 35% to reach 9.74 billion in 2050. This, in turn, will increase the demand for various agricultural products. Growing population with growing demand for food is creating pressure on global land resources due to declining agricultural produce, loss of biodiversity and climate change. Climate change has had a significant impact on agricultural yields and farming income for farmers. Additionally, factors such as soil erosion have contributed to desertification and an increase in barren land unsuitable for cultivation. This in turn has increased the demand for alternative farming techniques for growing fruits and vegetables, herbs, etc., thereby creating lucrative growth opportunities for vertical farming techniques such as plant factories.
Higher yield compared to traditional farming practices
Plant factories reduce the resource consumption of the farmer, allowing this farming technique to be adopted by most growers, ranging from home gardeners to professional growers and from supermarkets to restaurants. According to a report published by the UN, in 2018, plants grown in hydroponic systems achieved 20-25% higher yield than the traditional farming system, with 2-5 times higher productivity.
Additionally, in a plant factory setup, fruits and vegetables are grown under controlled environmental conditions, and therefore there is potentially no effect of climate change, so annual crop production remains unchanged. year regardless of seasonality.
In addition, in this configuration, no damage is caused to crops due to attacks by pests, birds or other external factors. All these factors help to increase the overall yield and production, thereby driving the growth of the global production plant market.
Impact of COVID-19
The sudden onset and spread of the COVID-19 pandemic has highlighted the importance of food security and how supply chain disruption can lead to food shortages. Additionally, the closures have resulted in the unavailability of labor to work on the farmland.
In addition, due to the traffic ban, farmers were unable to sell their products. This has pushed producers to adopt alternative farming practices that are much more technology-driven and less labor-intensive.
The COVID-19 pandemic crisis has created long-term opportunities for the growth of advanced agricultural techniques such as plant factories, vertical farming, etc. This has brought many new start-ups into this space of alternative farming techniques and attracted a lot of investment, funding and collaborations by major players operating in the market.
For example, in October 2020, Plenty Unlimited Inc. announced a joint development agreement with Driscoll’s (USA), using its indoor vertical cultivation to grow Driscoll’s exclusive tasty strawberries all year round.
Technological advances
Technological advancements are one of the major trends that are gaining popularity in the factory market. Leading companies operating in the factory market are focusing on providing continuous innovations to strengthen their market position by implementing various innovations and technologies such as LED light, AI, Machine Learning, Dynamic Resource Allocation and advanced computing to optimize plant growth and increase productivity.
Growing concerns about food security and dwindling arable land demand new technology that can help produce higher yields. This in turn is expected to create lucrative opportunities for the growth of the production plant market in the coming years.
Market segmentation
The global plant mills market can be segmented by plant type, by light, by cultivation system, by type and by region. Based on the type of facility, the market can be segmented into greenhouses, indoor farms and others.
Based on light, the market can be divided into artificial light and sunlight. Based on the cultivation system, the market can be differentiated into soil-based, non-soil-based hybrid.
Based on type, the market can be further segmented into fruits & vegetables, ornamental plants & flowers, and others. Regionally, North America led the market, followed by Europe, Asia-Pacific, South America, Middle East and Africa.
The United States dominated the global plant plant market in 2021 and is expected to continue to maintain its dominance during the forecast period. This can be attributed to the growing adoption of indoor farming techniques in the country. In 2016, there were approximately 41,351 covered farms in the United States.
Market players
Gotham Greens Farms LLC, Bowery Farming Inc., Freight Farms, Plenty Unlimited Inc., AeroFarms, LLC, BrightFarms Inc., Iron Ox, Inc, AppHarvest, Inc, Vertical Harvest Farms, Dream Harvesting Farming Company LLC, Bustanica – Emirates CropOne, Farminova (Cantek Group), Taikisha Ltd., Mirai Co. Ltd., Badia Farms are some of the major players operating in the global plant mills market.
Report Scope:
In this report, the global production plant market has been segmented into the following categories, in addition to industry trends which have also been detailed below:
• Plant plant market, by type of installation:
o Greenhouses
o Interior farms
o Others
• Plant Factory Market, by Light:
o Artificial light
o Sunlight
• Plant Factory Market, by Growth System:
o Soil-based
o Not ground based
o Hybrid
• Production plant market, by type:
o Fruits & Vegetables
o Ornamental plants and flowers
o Others
• Factory factory market, by region:
o North America
United States
Canada
Mexico
o Europe
France
UK
Italy
Germany
Spain
o Asia-Pacific
China
India
Japan
South Korea
Australia
o South America
Brazil
Argentina
Colombia
o Middle East and Africa
South Africa
United Arab Emirates
Saudi Arabia
Turkey
Egypt
Competitive landscape
Company Profiles: Detailed analysis of the major companies present in the global production plant market.
Customizations available:
With the market data provided, we offer customizations based on a company’s specific needs. The following customization options are available for the report:
Company information
• Detailed analysis and profiling of other market players (up to five).
Read the full report: https://www.reportlinker.com/p06325865/?utm_source=GNW
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