Controlled Environment Agriculture Market Overview:
MMR delivers an in-depth evaluation of the given sector’s current status and important drivers in its meticulous investigation Controlled Environment Agriculture Market from 2022 to 2027. It accurately delivers the necessary data and advanced analysis to aid in the development of the best corporate plan and the establishment of the best path for market players to achieve maximum growth. This is accomplished by a current awareness of the most important drivers, current trends, untapped opportunities, risks and restrictions, issues, and the most promising areas for development.
The investigation begins with a look at the Controlled Environment Agriculture foundations, including definitions, classifications, and a market overview. The research then aids in understanding product specifications, supplier chains, production processes, and cost structures, providing a deeper grasp of the industry’s building blocks as well as the significant drivers of market dynamics change.
Estimated Growth In Revenue:
The Controlled Environment Agriculture Market was valued at US$ 74.45 Bn. in 2021 and is estimated to reach a value of US$ 124.9 Bn. in 2027. The Global Controlled Environment Agriculture Market size is estimated to grow at a CAGR of 9.8% over the forecast period.
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Controlled Environment Agriculture Market Dynamics:
Increasing Global Demand for Food- The world’s population is expected to grow to almost 10 billion by 2025. It is becoming increasingly difficult to satisfy the rising global demand for food sustainably. Due to this, to meet the food demand of an increasing population, the government and farmers are adopting more advanced farming techniques such as hydroponics, aquaponics, aeroponics, solid-based, and other hybrid methods. The rising popularity of controlled environmental agriculture techniques is resulting in an increase in the number of small and large indoor farms across the globe and these farms are also encouraging the consumption of other supplies such as nutrients, growing media, etc. Today, 55% of the world’s population lives in urban areas, a proportion that is expected to increase to 69% by 2030. The population living in the urban areas is demanding locally grown foods such as fruits, vegetables, etc. CEA producers across the globe are setting up their production centers near urban consumers to take advantage of this trend due to their proximity to urban centers. Other advantages of CEA as the requirement of less time and expenses in the transportation of crop products and better product quality are expected to strengthen the growth of the CEA market in the forecasted period.
Controlled Environment Agriculture Market Highlights:
- Key industry developments and key insights
- Significant marketing factors such as driver, restraints, opportunity, and challenges
- Number of significant companies and their revenue and net income
- Other market trends
COVID19 Impact:
Our team is analyzing the influence of COVID 19 on several industry verticals and providing authenticated data to the client. This information is useful in determining market conditions. To comprehend the impact and factors of COVID 19 on the worldwide Controlled Environment Agriculture Market, consult our expert monitoring, which describes all of the influencing elements and COVID impact on each key player. Interviews with executives from various market-related firms, as well as survey reports, research institutes, and the most recent research reports, are used to do primary research. Meanwhile, the analytic team is putting together a set of questionnaires, and after the appointee list is obtained, the target audience is tapped and segmented through various mediums and channels.
Controlled Environment Agriculture Market Segmentation:
According to crop segment, tomato is the market’s dominant segment and also accounted for the largest revenue in the global market. Based on both traditional farming methods and CEA, US$ 190.04 billion in revenue was generated, but CEA currently accounts for 45% of this revenue and is expected to increase over the course of the forecasted period. Due to its suitability for both indoor and outdoor use and its ability to increase yield and value, these are the drivers driving expansion. The tomato is mostly utilised in food processing and has significant exports.
Controlled Environment Agriculture Market Competitors:
• Aero Farms
• Gotham Greens
• Plenty (Bright Farms)
• Lufa Farms
• IDEA Protected Horticulture
• Green Sense Farms
• Metro Farms
• Mirai
• Sky Greens
• Greenland
• Scafil
• Jingpeng
• Metropolis Farms
• Garden Fresh Farms
• Infinite Harvest
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Research Methodology:
- The top-down and bottom-up approaches are used to estimate and validate the size of the Controlled Environment Agriculture Market.
- In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Controlled Environment Agriculture Market.
- In order to make a priority list sorting is done based on revenue generated based on the latest reporting with the help of paid databases such as Factiva, Bloomberg, etc.
- Finally, the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting a prior appointment by targeting a key target audience that includes.
- Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, Annual reports, press releases, etc.
Controlled Environment Agriculture Market By Regions:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy)
- Asia Pacific (China, India, Japan, Singapore, Malaysia, South Korea )
- Latin America (Brazil, Mexico, Argentina, Chile)
- Middle East & Africa (Saudi Arabia, South Africa, Egypt)
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