The organic production and demand for fruits & vegetables and the production of seasonal food throughout the year because of indoor farming are driving the growth of the US Plant Factory Market in the forecast period, 2023-2027. According to TechSci Research report, “United States Plant Factory Market – By Region, Competition Forecast & Opportunities, 2017-2027”, the US Plant Factory Market stood at USD1423.04 million in 2021 and is anticipated to reach USD2589.85 million by 2027.
The Important Aspects of the United States Plant Factory Market
This can be attributed to the growing demand for organic fruits and vegetables and the inclination toward a healthy lifestyle among the population. The easy availability and fresh delivery of fruits and vegetables are possible because of plant factory-based farming techniques. However, the number of crops produced through plant factories is limited, which is hampered in the plant factory. Thus, crop production of a limited kind is achieved, due to which many companies operating in the United States plant factory market are inclined towards the production of tomatoes and leafy green vegetables. Thus, these are just a few of the factors that hinder the growth of the US Plant Factory Market.
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The United States Plant Factory Market is segmented into facility type, light, growing system, type, region, and by company. Based on facility type, (Greenhouses, Indoor Farms, Others {Shipping Containers, Building Based Plant Factory, etc.}), Greenhouse facilities held the largest market share of around 52.81% in 2021. Technological advancement and innovations are replacing manpower with artificial intelligence, therefore, the plant factory with sufficient advancements and technologies which are all provided in its inbuilt facility nowadays is going to dominate the market in the forecast year.
Based on the light, the market is segmented into artificial light and sunlight. Artificial light dominated the market in 2021 and is anticipated to maintain its dominance during the forecast period. The dominance of artificial sunlight is justified because of the amount of heat that can be regulated and maintained manually according to the sensitiveness of the plants towards light and to the phototrophic plants which respond to the stimulation of the light and requires sunlight for growth.
Based on the growing system, the market is segmented into soil-based, non-soil-based, and hybrid. The conventional way of farming has been practiced globally as the monetary investment required for the non-soil-based growing system is huge. But with the increasing economy, companies are opting for non-soil-based growing systems like hydroponics, aquaponics, etc. which produce pesticide-free and organic fruits and vegetables. The non-soil-based growing system facility is the fastest growing and held a market share of USD559.40 million in the year 2021 which is deliberately going to increase in the forecast year and is expected to dominate over the traditional way of soil-based farming. This can be attributed to the more focus on the conservation of water and the adoption of new ways of indoor farming which can be utilized in arid lands for more production with minimum soil and water supply.
The leading companies operating in the United States Plant Factory Market are:
- 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
The United States Plant Factory Market is a highly fragmented market with few established companies holding significant shares in the industry followed by several domestic players.
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“The plant factories run with ground-breaking technologies, which are more environmentally friendly than their conventional version and are anticipated to be driven by the urgent demand for sustainability in the contemporary climate. With 99% less land use and 98% less water use than conventional farms, vertical farming systems established inside plant factories may produce nearly 240 times the agricultural yields inside plant factories. They are opposed to being dispersed across a large area of land. Modern farmers and major players in the agricultural industry can monitor and manage plant development and regulation of growth according to the demand and supply of food products among their customers. Moreover, non-soil-based growing systems such as hydroponics and aeroponics is revolutionizing the way of farming as these process compliments the environment of plant factories and enhances crop growth and yield, which ensures food safety along with other advantages which can make plant factory-based farming the only best way of the future farming”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“United States Plant Factory Market By Facility Type (Greenhouses, Indoor Farms, Others), By Light (Sunlight v/s Artificial Light), By Growing System (Non-Soil-Based, Soil-Based, Hybrid), By Type (Fruits & Vegetables, Ornamental Plants & Flowers, Others) By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of the United States Plant Factory Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United States Plant Factory Market.
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