Plant Factory Market: By Facility Type (Greenhouses, Indoor farms, Other Facility Types), By Light Type (Sunlight, Full Artificial Light), By Technology (Non-soil-based, Soil-based, Hybrid), By Crop Type (Fruits, Vegetables, Flower & Ornamental and Other Crop Types) and Geography  

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Plant Factory Market was valued at USD 143.2 million in 2023 and is poised to grow at a CAGR of 7.8% from 2024 to 2030. A plant factory is also termed as an indoor farm, which is a highly developed form of organized environment agriculture in which plants are cultivated in indoor facilities under artificial light. This indoor farm aims to create stable environment for plant growth, allowing crops to grow faster in a more controlled manner compared to outdated outdoor farming methods. These facilities comprise advanced technologies, such as LED grow lights, aeroponic systems, automated climate control, and accurate nutrient delivery. The demand for the plant factory market is continually increasing for a few years due to several factors. The increase in the global population and the need to produce more food sustainably is the main driver in the plant factory market growth.

A plant factory is expected to achieve maximum yield, harvesting density, and financial impact by artificially controlling the plant growth environment. Plant factories' ability to grow vegetables 24 hours a day, create organic produce, and manage the quality of crops is driving market growth. In Addition, the increased production of larger yields compared to traditional agricultural practices due to expanding harvesting intervals, and the ability to remove the usage of pesticides and synthetic maturation chemicals, leading to significantly better vegetable products are also driving the market growth. Furthermore, Advantages like complete closure, low environmental impact, decreased plant crop management, irrigation, fertilizer conservation, and pesticide-free cultivation which results in reduced industrial effluent to the ecosystem all contribute to the growth during the forecast period. The trend of vertical farming and urban agriculture by incorporating the IoT and AI technologies in plant factory market is gaining momentum in the market.

Plant Factory Market Key Developments:
  • In February 2023, Public Investment fund and AeroFarms have entered into a joint venture, to establish a company in Riyadh, to build and operate indoor vertical farms in Saudi Arabia and the wider Middle East and North Africa (MENA) region. This joint venture will help in year-round, sustainable local sourcing of high quality crops cultivated on AeroFarms unique smart agriculture technology platform, which will help in address more general supply chain issues in the sector.
  • In February 2023, Realty Income Corporation signed a strategic real estate alliance with Plenty Unlimited Inc. to support in the advancement of plenty’s indoor vertical farms. under the terms of the agreement, Realty income will help in the development by funding for properties that will house plenty’s indoor farms.

Plant Factory Market Summary

Study Period

2024 - 2030

Base Year

2023

CAGR

7.8%

Largest Market

North America

Fastest Growing Market

Asia Pacific
Plant Factory Market Dynamics

The demand for effective and efficient techniques of agricultural practices is creating the plant factory market growth.  The alternative farming techniques like indoor farming have evolved in order to increase food production due to the increase in the food demand and the decrease in cropland and fertile soils which drives the market growth globally. Mounting pressure on the agriculture sector due to the quick increase in population propel the market growth in the plant factory market. The expansion and innovation within the market is driven by technological advancements. Moreover, The Technology advancement helps in adjustment of environmental factors such as temperature, moisture, and nutrient delivery, ensuring optimal plant growth. These technological advancements boost operational efficiency, increase productivity, and improve resource utilization within Plant Factories.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies.
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario.

Plant Factory Market Segmentation

By Facility Type
  • Greenhouses
  • Indoor farms
  • Others
By Light Type
  • Sunlight
  • Full Artificial light
By Technology
  • Non-Soil based
  • Soil based
  • Hybrid
By Crop Type
  • Fruits
  • Vegetables
  • Flower and Ornamental
  • Others

Frequently Asked Questions

North American region is expected to dominate the plant factory market over the forecast period.

The leading players in the Plant Factory Market are AeroFarms, Gotham Greens, AppHarvest, and Bowery Farming.

The growing demand for fresh, locally grown produce has become a significant driver in the plant factory market over the forecast period (2024-2030).

Historic years considered for the market study are 2019 to 2022, 2023 is considered as the base year for market estimation and the forecast presented from 2024 to 2030.

1. Executive Summary
2. Global Plant Factory Market Introduction
2.1. Global Plant Factory Market Taxonomy
2.2. Global Plant Factory Market Definitions
2.2.1. By Facility Type
2.2.2. By Light Type
2.2.3. By Growing System
2.2.4. By Crop Type
2.2.5. By Region
3. Global Plant Factory Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Plant Factory Market Dynamic Factors - Impact Analysis
3.6. Global Plant Factory Market Competition Landscape
4. Global Plant Factory Market Analysis, 2019-2023 and Forecast, 2024-2030
4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Plant Factory Market, By Facility Type, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
5.1. Greenhouses
5.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Indoor farms
5.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
5.3. Other Facility Types
5.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
6. Global Plant Factory Market, By Light Type, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
6.1. Sunlight
6.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Full Artificial Light
6.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
7. Global Plant Factory Market, By Technology, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
7.1. Non-soil-based
7.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Soil-based
7.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Hybrid
7.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
8. Global Plant Factory Market Forecast, By Crop Type, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
8.1. Fruits
8.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Vegetables
8.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Flower & Ornamental
8.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Other Crop Types
8.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
9.  Global Plant Factory Market Forecast, By Region, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
9.1. North America
9.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.1.3. Market Opportunity Analysis
9.2. Europe
9.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.2.3. Market Opportunity Analysis
9.3. Asia-Pacific
9.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.3.3. Market Opportunity Analysis
9.4. Latin America
9.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.4.3. Market Opportunity Analysis
9.5. Middle East and Africa
9.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.5.3. Market Opportunity Analysis
9.6. Global Plant Factory Market - Opportunity Analysis Index, By Facility Type, By Light Type, By Technology, By Crop Type, and Region, 2024-2030
10. North America Plant Factory Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
10.1. Facility Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Greenhouses
10.1.2. Indoor Farms
10.1.3. Other Facility Types
10.2. Light Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. Sunlight
10.2.2. Full Artificial Light
10.3. Growing System Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.3.1. Non-soil-based
10.3.2. Soil-based
10.3.3. Hybrid
10.4. Crop Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.4.1. Fruits
10.4.2. Vegetables
10.4.3. Flower & Ornamental
10.4.4. Other Crop Types
10.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.5.1. USA
10.5.2. Canada
10.6. North America Plant Factory Market - Opportunity Analysis Index, By Facility Type, By Light Type, By Technology, By Crop Type, and Country, 2024-2030
10.7. North America Plant Factory Market Dynamics Trends
11. Europe Plant Factory Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
11.1. Facility Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Greenhouses
11.1.2. Indoor Farms
11.1.3. Other Facility Types
11.2. Light Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. Sunlight
11.2.2. Full Artificial Light
11.3. Growing System Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.3.1. Non-soil-based
11.3.2. Soil-based
11.3.3. Hybrid
11.4. Crop Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.4.1. Fruits
11.4.2. Vegetables
11.4.3. Flower & Ornamental
11.4.4. Other Crop Types
11.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.5.1. Germany
11.5.2. UK
11.5.3. France
11.5.4. Spain
11.5.5. Italy
11.5.6. Russia
11.5.7. Rest of Europe
11.6. Europe Plant Factory Market - Opportunity Analysis Index, By Facility Type, By Light Type, By Technology, By Crop Type, and Country, 2024-2030
11.7. Europe Plant Factory Market Dynamics Trends
12. Asia-Pacific Plant Factory Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
12.1. Facility Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Greenhouses
12.1.2. Indoor Farms
12.1.3. Other Facility Types
12.2. Light Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. Sunlight
12.2.2. Full Artificial Light
12.3. Growing System Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.3.1. Non-soil-based
12.3.2. Soil-based
12.3.3. Hybrid
12.4. Crop Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.4.1. Fruits
12.4.2. Vegetables
12.4.3. Flower & Ornamental
12.4.4. Other Crop Types
12.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.5.1. China
12.5.2. India
12.5.3. Japan
12.5.4. ASEAN
12.5.5. Australia & New Zealand
12.5.6. Rest of Asia-Pacific
12.6. Asia-Pacific Plant Factory Market - Opportunity Analysis Index, By Facility Type, By Light Type, By Technology, By Crop Type, and Country, 2024-2030
12.7. Asia-Pacific Plant Factory Market Dynamics Trends
13. Latin America Plant Factory Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
13.1. Facility Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. Greenhouses
13.1.2. Indoor Farms
13.1.3. Other Facility Types
13.2. Light Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.2.1. Sunlight
13.2.2. Full Artificial Light
13.3. Growing System Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.3.1. Non-soil-based
13.3.2. Soil-based
13.3.3. Hybrid
13.4. Crop Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.4.1. Fruits
13.4.2. Vegetables
13.4.3. Flower & Ornamental
13.4.4. Other Crop Types
13.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.5.1. Brazil
13.5.2. Mexico
13.5.3. Rest of Latin America
13.6. Latin America Plant Factory Market - Opportunity Analysis Index, By Facility Type, By Light Type, By Technology, By Crop Type, and Country, 2024-2030
13.7. Latin America Plant Factory Market Dynamics Trends
14. Middle East and Africa Plant Factory Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
14.1. Facility Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.1.1. Greenhouses
14.1.2. Indoor Farms
14.1.3. Other Facility Types
14.2. Light Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.2.1. Sunlight
14.2.2. Full Artificial Light
14.3. Growing System Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.3.1. Non-soil-based
14.3.2. Soil-based
14.3.3. Hybrid
14.4. Crop Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.4.1. Fruits
14.4.2. Vegetables
14.4.3. Flower & Ornamental
14.4.4. Other Crop Types
14.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
14.5.1. Gulf Cooperation Council (GCC) Countries
14.5.2. South Africa
14.5.3. Rest of MEA
14.6. MEA Plant Factory Market - Opportunity Analysis Index By Facility Type, By Light Type, By Technology, By Crop Type, and Country, 2024-2030
14.7. MEA Plant Factory Market Dynamics Trends
15. Competition Landscape 
15.1. Strategic Dashboard of Top Market Players
15.2. Company Profiles (Introduction, Financial Analysis, Key Facility Types, Key Developments, Strategies, and SWOT Analysis)
15.2.1. Aerofarms
15.2.2. Agricool
15.2.3. Appharvest
15.2.4. Badia Farms
15.2.5. Bowery Farming Inc.
15.2.6. Brightfarms
15.2.7. Crop One
15.2.8. Dream Harvest Farming Company LLC
15.2.9. Farminova Plant Factory N.V.
15.2.10. Farmone
15.2.11. Gotham Greens
15.2.12. Iron Ox
15.2.13. Kalera
15.2.14. Mirai Co. Ltd.
16. Research Methodology
17. Key Assumptions and Acronyms
  • Aerofarms
  • Agricool
  • Appharvest
  • Badia Farms
  • Bowery Farming Inc.
  • Brightfarms
  • Crop One
  • Dream Harvest Farming Company LLC
  • Farminova Plant Factory N.V.
  • Farmone
  • Gotham Greens
  • Iron Ox
  • Kalera
  • Mirai Co. Ltd.

Adjacent Markets