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植物工場市場ー業界洞察、主要プレーヤー・企業別、成長機会別、最新傾向別、開発別、主要な成長ドライバー別、主要な課題別によってセグメンテーション、予測 2026年


[ 英語タイトル ] 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


Product Code : MNMAG00115233
Survey : MarketsandMarkets
Publish On : September, 2021
Category : Agriculture and Allied Activities
Study Area : Global
Report format : PDF
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[Report Description]

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 One of the major drivers is that it provides higher yield compared to traditional agricultural techniques, owing to the increase in harvest cycles.


“By facility type, greenhouses are projected to dominate the market during the forecast period.”
Greenhouses are high-tech structures dedicated to the cultivation of plants, particularly vegetables, flowers, and fruits. Environmental elements such as temperature, light exposure, irrigation, fertilization, humidity, and ventilation can be controlled and monitored for optimal crop growth. Commercial greenhouses typically cultivate crops in large volumes for consumers; research greenhouses are suited for plant science and medicinal horticulture.

“By light type, sunlight is projected to dominate the market during the forecast period.”
Some plant factories prefer and utilize natural light sources, i.e., sunlight. However, it is suitable for places with a significant amount of sunlight necessary for the growth of indoor plants. Greenhouse farms generally use natural sunlight. For sustainable production, the use of freely available sunlight is preferred.

“The European region is projected to record the highest growth rate during the forecast period.”
The evolution of plant factories or Controlled Environment Agriculture (CEA) and commercial greenhouses took place in Europe due to the favorable situations for adopting the CEA technique of farming and automation technologies and the encouragement from governments. Many Europe-based companies have invested significantly in the research of various areas of greenhouse automation, hydroponics, aeroponics, aquaponics, including climate control, lighting, and material handling, among others. As a result of the all-around development in plant factories, Europe has become a major market for plant factory.
The plant factory market is segmented region-wise, with a detailed analysis of each region. These regions include Asia Pacific, North America, Europe, South America and Rest of the World including Africa and the Middle East.
Break-up of Primaries
 By Company: Tier 1– 60%, Tier 2– 25%, Tier 3– 15%,
 By Designation: CXO – 35%, Directors - 45%, and Others - 20%
 By Region: North America - 10%, Europe - 25%, APAC- 45%, South America – 5%, RoW- 15%

Leading players profiled in this report include the following:
 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. (US)
 Iron Ox (US)
 Agricool (France)
 Crop One (UAE)
 Vertical Harvest (US)


Research Coverage
This report segments the plant factory market based on facility type, growing system, light type, crop type, and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, pricing insights, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the plant factory market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
Reasons to buy this report
• To get a comprehensive overview of the plant factory market
• To gain wide-ranging information about the top players in this industry, their product portfolio details, and the key strategies adopted by them
• To gain insights about the major countries/regions, in which the plant factory market is flourishing

1 INTRODUCTION 23
1.1 OBJECTIVES OF THE STUDY 23
1.2 MARKET DEFINITION 23
1.3 INCLUSIONS & EXCLUSIONS 24
1.4 STUDY SCOPE 24
FIGURE 1 MARKET SEGMENTATION 24
1.5 REGIONS COVERED 25
1.6 PERIODIZATION CONSIDERED 25
1.7 CURRENCY CONSIDERED 26
TABLE 1 USD EXCHANGE RATES CONSIDERED, 2018–2020 26
1.8 STAKEHOLDERS 26
2 RESEARCH METHODOLOGY 27
2.1 RESEARCH DATA 27
FIGURE 2 PLANT FACTORY MARKET: RESEARCH DESIGN 27
2.1.1 SECONDARY DATA 28
2.1.1.1 Key data from secondary sources 28
2.1.2 PRIMARY DATA 29
FIGURE 3 PLANT FACTORY MARKET: PRIMARY VALIDATIONS 29
2.1.2.1 Key industry insights 30
2.1.2.2 Breakdown of primaries 30
2.2 MARKET SIZE ESTIMATION 31
FIGURE 4 PLANT FACTORY MARKET SIZE ESTIMATION: SUPPLY SIDE (1/2) 31
FIGURE 5 PLANT FACTORY MARKET SIZE ESTIMATION: SUPPLY SIDE (2/2) 32
FIGURE 6 PLANT FACTORY MARKET SIZE ESTIMATION: DEMAND SIDE 32
2.2.1 MARKET SIZE ESTIMATION NOTES 33
FIGURE 7 PLANT FACTORY MARKET SIZE ESTIMATION – TOP-DOWN APPROACH 33
FIGURE 8 PLANT FACTORY MARKET SIZE ESTIMATION – BOTTOM-UP APPROACH 34
2.3 DATA TRIANGULATION 35
FIGURE 9 DATA TRIANGULATION METHODOLOGY 35
2.4 ASSUMPTIONS FOR THE STUDY 36
2.5 RESEARCH LIMITATIONS & ASSOCIATED RISKS 37
2.6 MARKET SCENARIOS CONSIDERED FOR THE IMPACT OF COVID-19 37
FIGURE 10 SCENARIO-BASED MODELLING 38
2.7 COVID-19 HEALTH ASSESSMENT 38
FIGURE 11 COVID-19: GLOBAL PROPAGATION 38
FIGURE 12 COVID-19 PROPAGATION: SELECT COUNTRIES 39

2.8 COVID-19 ECONOMIC ASSESSMENT 40
FIGURE 13 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020 40
2.8.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT 41
FIGURE 14 CRITERIA IMPACTING GLOBAL ECONOMY 41
FIGURE 15 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY 42
3 EXECUTIVE SUMMARY 44
TABLE 2 PLANT FACTORY MARKET SNAPSHOT, 2021 VS. 2026 45
FIGURE 16 PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2021 VS. 2026 (USD BILLION) 45
FIGURE 17 PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2021 VS. 2026 (USD BILLION) 46
FIGURE 18 PLANT FACTORY MARKET SIZE, BY CROP TYPE, 2021 VS. 2026 (USD BILLION) 46
FIGURE 19 PLANT FACTORY MARKET SIZE, BY LIGHT TYPE, 2021 VS. 2026 (USD BILLION) 47
FIGURE 20 PLANT FACTORY MARKET SHARE, BY REGION, 2021 47
4 PREMIUM INSIGHTS 49
4.1 BRIEF OVERVIEW OF THE PLANT FACTORY MARKET 49
FIGURE 21 RISING POPULATION AND CONCERNS OVER FOOD SECURITY TO DRIVE THE GROWTH OF THE PLANT FACTORY MARKET 49
4.2 PLANT FACTORY MARKET: MAJOR REGIONAL SUBMARKETS 50
FIGURE 22 US IS THE LARGEST MARKET GLOBALLY FOR PLANT FACTORIES IN 2021 50
4.3 NORTH AMERICA: PLANT FACTORY MARKET, BY TYPE & COUNTRY 50
FIGURE 23 US TO ACCOUNT FOR THE LARGEST SHARE OF THE NORTH AMERICAN MARKET 50
4.4 PLANT FACTORY MARKET, BY FACILITY TYPE & REGION 51
FIGURE 24 GREENHOUSES TO DOMINATE THE PLANT FACTORY MARKET IN 2021 51
4.5 PLANT FACTORY MARKET, BY GROWING SYSTEM 51
FIGURE 25 SOIL-BASED PLANT FACTORIES TO DOMINATE THE MARKET 51
4.6 PLANT FACTORY MARKET, BY CROP TYPE 52
FIGURE 26 THE VEGETABLES SEGMENT TO DOMINATE THE PLANT FACTORY MARKET 52
4.7 PLANT FACTORY MARKET, BY LIGHT TYPE 52
FIGURE 27 SUNLIGHT-BASED PLANT FACTORIES TO DOMINATE THE PLANT FACTORY MARKET 52
4.8 PLANT FACTORY MARKET, BY KEY COUNTRY 53
FIGURE 28 NETHERLANDS TO BE THE MOST LUCRATIVE MARKET FOR PLANT FACTORIES 53
5 MARKET OVERVIEW 54
5.1 INTRODUCTION 54
5.2 MACROECONOMIC INDICATORS 54
5.2.1 INCREASING GLOBAL POPULATION 54
TABLE 3 POPULATION COMPARISON, 2009–2019 54
FIGURE 29 POPULATION GROWTH TREND, 1950–2050 55
5.2.2 RAPID URBANIZATION 55
TABLE 4 URBAN POPULATION PERCENTAGE, 2019 55
5.3 MARKET DYNAMICS 56
FIGURE 30 PLANT FACTORY MARKET: MARKET DYNAMICS 56
5.3.1 DRIVERS 56
5.3.1.1 Higher yield as compared to traditional agriculture practices 56
TABLE 5 YIELD OF CROPS: SOIL CULTIVATION VS. HYDROPONICS (LBS/ACRE) 57
5.3.1.2 Lesser impact of external weather conditions 57
FIGURE 31 GLOBAL AVERAGE YIELD FOR INDOOR FARMING, BY CROP TYPE,
2015 (‘000 POUNDS PER ACRE) 58
FIGURE 32 GLOBAL AVERAGE YIELD FOR INDOOR FARMING, BY CROP TYPE,
2015 (‘000 POUNDS PER ACRE) 58
5.3.1.3 Rise in demand for food due to increasing population and challenges of climate change 59
5.3.1.3.1 Rise in disposable incomes are leading to increased expenditure on food, fueling demand for food products 59
FIGURE 33 US: SHARE OF HOUSEHOLD CONSUMER EXPENDITURES BY MAJOR CATEGORIES, 2019 59
5.3.2 RESTRAINTS 60
5.3.2.1 High capital investments 60
5.3.2.2 Requirement of high-precision environment 60
5.3.3 OPPORTUNITIES 61
5.3.3.1 Increased adoption of plant factories by restaurants and grocery stores amid the COVID-19 pandemic 61
5.3.3.1.1 Increased agri-food export among countries fuels the demand for ample yield all-year-round 61
FIGURE 34 MAJOR AGRI-FOOD EXPORTERS, 2016–2018 (USD BILLION) 61
5.3.3.2 Rise in demand for floriculture and ornamental horticulture 62
5.3.3.2.1 Availability of disposable income allows consumers to spend on floriculture and other ornamental horticulture products 62
FIGURE 35 PER CAPITA GDP, BY COUNTRY, 2019 (USD) 62
5.3.4 CHALLENGES 63
5.3.4.1 Tapping into the organic food market 63
5.3.4.1.1 Augmented demand for organic food products in developed countries 63
FIGURE 36 COUNTRIES WITH THE HIGHEST PER CAPITA CONSUMPTION OF ORGANIC FOOD, 2015 (USD) 63
5.3.4.1.2 Debate over certification of food grown in plant factories as “organic” 64
5.3.4.2 Risk of equipment failure and delay in the learning curve among growers 64
5.3.4.3 Spread of waterborne diseases and algae in closed systems 64
5.4 COVID-19 IMPACT ON THE PLANT FACTORY MARKET 65

6 INDUSTRY TRENDS 66
6.1 INTRODUCTION 66
6.2 VALUE CHAIN ANALYSIS 66
FIGURE 37 VALUE CHAIN OF THE PLANT FACTORY MARKET 66
6.3 SUPPLY CHAIN ANALYSIS & MARKET ECOSYSTEM MAPPING 67
6.3.1 SUPPLY CHAIN ANALYSIS 67
FIGURE 38 SUPPLY CHAIN OF THE PLANT FACTORY MARKET 67
6.3.2 RAW MATERIAL SOURCING 67
6.3.3 SYSTEM AND TECHNOLOGY PROVISION 67
6.3.4 CONSULTING, MANAGEMENT, AND END USERS 68
6.3.5 MARKET ECOSYSTEM MAPPING 68
6.3.5.1 Demand side 68
6.3.5.2 Supply side 68
6.3.6 PLANT FACTORY: MARKET MAP 68
TABLE 6 PLANT FACTORY MARKET: SUPPLY CHAIN (ECOSYSTEM) 69
6.4 TECHNOLOGY ANALYSIS 69
6.5 YC-YCC SHIFT 70
FIGURE 39 YC-YCC SHIFT FOR THE PLANT FACTORY MARKET 70
6.6 PATENT ANALYSIS 71
FIGURE 40 LIST OF MAJOR PATENTS FOR PLANT FACTORIES 71
6.6.1 LIST OF MAJOR PATENTS [PLANT FACTORY/CONTROLLED ENVIRONMENT AGRICULTURE (CROPS & TECHNOLOGIES)] 72
6.7 PORTER’S FIVE FORCES ANALYSIS 76
TABLE 7 PLANT FACTORY MARKET: PORTER’S FIVE FORCES ANALYSIS 77
6.7.1 DEGREE OF COMPETITION 77
6.7.2 BARGAINING POWER OF BUYERS 78
6.7.3 BARGAINING POWER OF SUPPLIERS 78
6.7.4 THREAT OF SUBSTITUTES 78
6.7.5 THREAT OF NEW ENTRANTS 78
6.8 PRICING ANALYSIS 79
TABLE 8 AVERAGE COST PRICE, BY TYPE, 2019–2020 79
6.9 TRADE ANALYSIS 79
TABLE 9 HS TRADE CODES FOR HYDROPONICS 80
6.10 CASE STUDIES 80
TABLE 10 NEED FOR DEVELOPMENT AND INNOVATION IN DEVELOPING NATIONS 80
TABLE 11 NEED FOR INNOVATION IN THE FRAMEWORK OF VERTICAL FARMS FOR OPTIMIZATION TO GET THE HIGHEST YIELD 80
7 REGULATIONS 81
7.1 NORTH AMERICA 81
7.2 EUROPE 81
7.3 NORTH AMERICA 82
7.4 ASIA PACIFIC 83
7.4.1 INDIA 83
7.4.2 CHINA 83
7.4.3 JAPAN 83
8 PLANT FACTORY MARKET, BY GROWING SYSTEM 84
8.1 INTRODUCTION 85
FIGURE 41 PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2021 VS. 2026 (USD BILLION) 85
TABLE 12 PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 86
8.1.1 COVID-19 IMPACT ON THE PLANT FACTORY MARKET SIZE,
BY GROWING SYSTEM 86
8.1.1.1 Realistic scenario 86
TABLE 13 REALISTIC SCENARIO: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2018–2021 (USD BILLION) 86
8.1.1.2 Optimistic scenario 86
TABLE 14 OPTIMISTIC SCENARIO: PLANT FACTORY MARKET SIZE,
BY GROWING SYSTEM, 2018–2021 (USD BILLION) 86
8.1.1.3 Pessimistic scenario 87
TABLE 15 PESSIMISTIC SCENARIO: PLANT FACTORY MARKET SIZE,
BY GROWING SYSTEM, 2018–2021 (USD BILLION) 87
8.2 NON-SOIL-BASED 87
8.2.1 NON-SOIL-BASED SYSTEMS OFFER BETTER YIELD AND QUALITY OF PRODUCE COMPARED TO SOIL-BASED SYSTEMS 87
TABLE 16 NON-SOIL-BASED: PLANT FACTORY MARKET SIZE, BY SUB-SEGMENT,
2019–2026 (USD BILLION) 87
TABLE 17 NON-SOIL-BASED: PLANT FACTORY MARKET SIZE, BY REGION,
2019–2026 (USD BILLION) 88
8.2.2 HYDROPONICS 88
8.2.3 AEROPONICS 88
8.2.4 AQUAPONICS 88
8.3 SOIL-BASED 89
8.3.1 SOIL-BASED GROWING SYSTEMS—A TACTICAL ALTERNATIVE TO TRADITIONAL SOIL-BASED AGRICULTURE 89
TABLE 18 SOIL-BASED: PLANT FACTORY MARKET SIZE, BY REGION,
2019–2026 (USD BILLION) 89
8.4 HYBRID 90
8.4.1 HYBRID SYSTEMS TO OFFER A DUAL ADVANTAGE FOR OPTIMUM PRODUCTION 90
TABLE 19 HYBRID: PLANT FACTORY MARKET SIZE, BY REGION,
2019–2026 (USD BILLION) 90

9 PLANT FACTORY MARKET, BY FACILITY TYPE 91
9.1 INTRODUCTION 92
FIGURE 42 PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2021 VS. 2026 (USD BILLION) 92
TABLE 20 PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2019–2026 (USD BILLION) 93
9.1.1 COVID-19 IMPACT ON THE PLANT FACTORY MARKET SIZE, BY FACILITY TYPE 93
9.1.1.1 Realistic scenario 93
TABLE 21 REALISTIC SCENARIO: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2018–2021 (USD BILLION) 93
9.1.1.2 Optimistic scenario 94
TABLE 22 OPTIMISTIC SCENARIO: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2018–2021 (USD BILLION) 94
9.1.1.3 Pessimistic scenario 94
TABLE 23 PESSIMISTIC SCENARIO: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2018–2021 (USD BILLION) 94
9.2 GREENHOUSES 94
9.2.1 GREENHOUSES PROVIDE HIGHER PROFITABILITY AND GROWTH PROSPECTS COMPARED TO OTHER CEA FACILITIES 94
TABLE 24 GREENHOUSES PLANT FACTORY MARKET SIZE, BY REGION,
2019–2026 (USD BILLION) 95
9.3 INDOOR FARMS 95
9.3.1 INDOOR FARMS HELP BRING PRODUCTION OPERATIONS CLOSER TO POPULATION CENTERS 95
TABLE 25 INDOOR FARMS MARKET SIZE, BY REGION, 2019–2026 (USD BILLION) 96
9.4 OTHER FACILITY TYPES 96
9.4.1 THE UNAVAILABILITY OF ARABLE LAND DRIVES THE MARKET FOR CEA FACILITIES 96
TABLE 26 OTHER PLANT FACTORY FACILITY TYPES MARKET SIZE, BY REGION,
2019–2026 (USD BILLION) 96
10 PLANT FACTORY MARKET, BY CROP TYPE 97
10.1 INTRODUCTION 98
FIGURE 43 PLANT FACTORY MARKET SIZE, BY CROP TYPE, 2021 VS. 2026 (USD BILLION) 98
TABLE 27 PLANT FACTORY MARKET SIZE, BY CROP TYPE, 2019–2026 (USD BILLION) 99
10.1.1 COVID-19 IMPACT ON THE PLANT FACTORY MARKET SIZE, BY CROP TYPE 99
10.1.1.1 Realistic scenario 99
TABLE 28 REALISTIC SCENARIO: PLANT FACTORY MARKET SIZE, BY CROP TYPE,
2018–2021 (USD BILLION) 99
10.1.1.2 Optimistic scenario 100
TABLE 29 OPTIMISTIC SCENARIO: PLANT FACTORY MARKET SIZE, BY CROP TYPE, 2018–2021 (USD BILLION) 100
10.1.1.3 Pessimistic scenario 100
TABLE 30 PESSIMISTIC SCENARIO: PLANT FACTORY MARKET SIZE, BY CROP TYPE, 2018–2021 (USD BILLION) 100

10.2 FRUITS 100
10.2.1 BENEFITS OF YEAR-ROUND HARVESTS SUPPLEMENT FRUIT CULTIVATION IN PLANT FACTORIES 100
TABLE 31 FRUITS: PLANT FACTORY MARKET SIZE, BY FRUIT TYPE,
2019–2026 (USD BILLION) 101
TABLE 32 FRUITS: PLANT FACTORY MARKET SIZE, BY REGION,
2019–2026 (USD BILLION) 101
10.2.2 BERRIES 102
10.2.2.1 Seasonal availability of berries to fuel the need for production in plant factories 102
10.2.3 OTHER FRUITS 102
10.2.3.1 Melons and grapes are among the optimum choices for controlled environment production 102
10.3 VEGETABLES 102
10.3.1 EASE OF PRODUCTION IN PLANT FACTORIES TO DRIVE THE DEMAND FOR VEGETABLES 102
TABLE 33 VEGETABLES: PLANT FACTORY MARKET SIZE, BY VEGETABLE TYPE,
2019–2026 (USD BILLION) 103
TABLE 34 VEGETABLES: PLANT FACTORY MARKET SIZE, BY REGION,
2019–2026 (USD BILLION) 103
10.3.2 TOMATO 104
10.3.2.1 Enhanced nutritive value of tomatoes grown in plant factories to drive the demand 104
10.3.3 LEAFY GREENS 104
10.3.3.1 Enhanced shelf-life due to CEA to propel the demand for leafy greens 104
TABLE 35 LEAFY GREENS: PLANT FACTORY MARKET SIZE, BY LEAFY GREENS TYPE, 2019–2026 (USD BILLION) 104
10.3.3.1.1 Lettuce 105
10.3.3.1.2 Kale 105
10.3.3.1.3 Spinach 105
10.3.3.1.4 Other leafy greens 105
10.3.4 EGGPLANT 105
10.3.4.1 High sensitivity to external conditions to augment the production of eggplant in plant factories 105
10.3.5 HERBS & MICROGREENS 106
10.3.5.1 Microgreens are increasingly grown in plant factories to retain the peak flavor intensity 106
TABLE 36 HERBS AND MICROGREENS: PLANT FACTORY MARKET SIZE,
BY HERBS AND MICROGREENS TYPE, 2019–2026 (USD BILLION) 106
10.3.5.1.1 Basil 106
10.3.5.1.2 Herbs 106
10.3.5.1.3 Tarragon 107
10.3.5.1.4 Wheatgrass 107
10.3.6 OTHER VEGETABLES 107
10.3.6.1 Vining properties of vegetables to augment the need for enclosed agricultural methods 107
10.4 FLOWER & ORNAMENTAL 107
10.4.1 THE FAST-GROWING FLORICULTURE INDUSTRY TO DRIVE THE PLANT FACTORY MARKET 107
TABLE 37 FLOWER AND ORNAMENTAL: PLANT FACTORY MARKET SIZE,
BY FLOWER AND ORNAMENTAL TYPE, 2019–2026 (USD BILLION) 108
TABLE 38 FLOWER & ORNAMENTAL: PLANT FACTORY MARKET SIZE, BY REGION,
2019–2026 (USD BILLION) 108
10.4.2 PERENNIALS 108
10.4.2.1 Ease of production to drive the market for perennials produced in plant factories 108
10.4.3 ANNUALS 109
10.4.3.1 Ornamental annuals widely cultivated in indoor farms and greenhouses 109
10.4.4 BIENNIAL 109
10.4.4.1 Longer growth periods of biennials to propel their production in secure environments 109
10.5 OTHER CROP TYPES 109
10.5.1 LEGALIZATION TO DRIVE THE DEMAND FOR CANNABIS PRODUCED IN PLANT FACTORIES 109
TABLE 39 OTHER CROP TYPES: PLANT FACTORY MARKET SIZE, BY REGION,
2019–2026 (USD BILLION) 109
11 PLANT FACTORY MARKET, BY LIGHT TYPE 110
11.1 INTRODUCTION 111
FIGURE 44 PLANT FACTORY MARKET, BY LIGHT TYPE, 2021 VS. 2026 (USD BILLION) 111
TABLE 40 PLANT FACTORY MARKET, BY LIGHT TYPE, 2019–2026 (USD BILLION) 111
11.2 COVID-19 IMPACT ANALYSIS, BY LIGHT TYPE 112
TABLE 41 OPTIMISTIC SCENARIO: PLANT FACTORY MARKET SIZE, BY LIGHT TYPE, 2018–2021 (USD BILLION) 112
TABLE 42 REALISTIC SCENARIO: PLANT FACTORY MARKET SIZE, BY LIGHT TYPE,
2018–2021 (USD BILLION) 112
TABLE 43 PESSIMISTIC SCENARIO: PLANT FACTORY MARKET SIZE, BY LIGHT TYPE, 2018–2021 (USD BILLION) 112
11.3 FULL ARTIFICIAL LIGHT 113
TABLE 44 FULL ARTIFICIAL LIGHT: PLANT FACTORY MARKET, BY REGION,
2019–2026 (USD BILLION) 113
11.4 SUNLIGHT 114
TABLE 45 SUNLIGHT: PLANT FACTORY MARKET, BY REGION,
2019–2026 (USD BILLION) 114
12 PLANT FACTORY MARKET, BY REGION 115
12.1 INTRODUCTION 116
FIGURE 45 NETHERLANDS TO BE THE MOST LUCRATIVE MARKET IN THE PLANT FACTORY MARKET BY 2026 117
TABLE 46 PLANT FACTORY MARKET SIZE, BY REGION, 2019–2026 (USD BILLION) 117
12.1.1 COVID-19 IMPACT ON THE PLANT FACTORY MARKET, BY REGION 118
12.1.1.1 Realistic Scenario 118
TABLE 47 REALISTIC SCENARIO: COVID-19 IMPACT ON THE PLANT FACTORY MARKET SIZE, BY REGION, 2018–2021 (USD BILLION) 118
12.1.1.2 Optimistic Scenario 119
TABLE 48 OPTIMISTIC SCENARIO: COVID-19 IMPACT ON THE PLANT FACTORY MARKET SIZE, BY REGION, 2018–2021 (USD BILLION) 119
12.1.1.3 Pessimistic Scenario 119
TABLE 49 PESSIMISTIC SCENARIO: COVID-19 IMPACT ON THE PLANT FACTORY MARKET SIZE, BY REGION, 2018–2021 (USD BILLION) 119
12.2 NORTH AMERICA 120
FIGURE 46 NORTH AMERICA: REGIONAL SNAPSHOT 121
TABLE 50 NORTH AMERICA: PLANT FACTORY MARKET SIZE, BY COUNTRY,
2019–2026 (USD BILLION) 122
TABLE 51 NORTH AMERICA: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION) 122
TABLE 52 NORTH AMERICA: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 122
TABLE 53 NORTH AMERICA: PLANT FACTORY MARKET SIZE, BY LIGHT TYPE,
2019–2026 (USD BILLION) 123
TABLE 54 NORTH AMERICA: PLANT FACTORY MARKET SIZE, BY CROP TYPE,
2019–2026 (USD BILLION) 123
12.2.1 US 123
12.2.1.1 Favorable government schemes and introduction of newer farming kits and techniques by plant factory system providers 123
TABLE 55 US: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 124
TABLE 56 US: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 124
12.2.2 CANADA 125
12.2.2.1 High awareness about modern farming techniques 125
TABLE 57 CANADA: MAJOR CROPS GROWN IN GREENHOUSES, 2015 126
FIGURE 47 CANADA: SPECIES OF GREENHOUSE-GROWN FLOWERS, 2015 126
TABLE 58 CANADA: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 126
TABLE 59 CANADA: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 127
12.2.3 MEXICO 127
12.2.3.1 Larger greenhouse area used for cultivation 127
TABLE 60 MEXICO: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 128
TABLE 61 MEXICO: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 128
12.3 EUROPE 129
FIGURE 48 EUROPEAN PLANT FACTORY MARKET SNAPSHOT 130
12.3.1 COVID-19 IMPACT ON THE PLANT MARKET IN EUROPE 131
TABLE 62 EUROPE: PLANT FACTORY TYPE MARKET SIZE, BY COUNTRY/REGION,
2019–2026 (USD BILLION) 131
TABLE 63 EUROPE: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 132
TABLE 64 EUROPE: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 132
TABLE 65 EUROPE: PLANT FACTORY MARKET SIZE, BY LIGHT TYPE,
2019–2026 (USD BILLION) 132
TABLE 66 EUROPE: PLANT FACTORY MARKET SIZE, BY CROP TYPE,
2019–2026 (USD BILLION) 133
12.3.2 NETHERLANDS 133
12.3.2.1 Increasing inclination toward efficient farming 133
TABLE 67 NETHERLANDS: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION) 134
TABLE 68 NETHERLANDS: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 134
12.3.3 SPAIN 135
12.3.3.1 Increase in investments in sustainable farming practices and advanced set-ups to achieve higher volumes of produce 135
TABLE 69 SPAIN: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 135
TABLE 70 SPAIN: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 135
12.3.4 ITALY 136
12.3.4.1 Growth in organic croplands and rise in demand for and supply of organic products 136
TABLE 71 ITALY: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 136
TABLE 72 ITALY: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 136
12.3.5 UK 137
12.3.5.1 Various players are expanding indoor farming and vertical farming businesses 137
TABLE 73 UK: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 137
TABLE 74 UK: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 137
12.3.6 FRANCE 138
12.3.6.1 Gradual adoption of modern farming techniques 138
TABLE 75 FRANCE: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 138
TABLE 76 FRANCE: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 138
12.3.7 TURKEY 139
12.3.7.1 Increase in protected cultivation 139
TABLE 77 TURKEY: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 139
TABLE 78 TURKEY: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 139

12.3.8 REST OF EUROPE 140
12.3.8.1 Demand for controlled environment agriculture 140
TABLE 79 REST OF EUROPE: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION) 140
TABLE 80 REST OF EUROPE: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 140
12.4 ASIA PACIFIC 141
FIGURE 49 ASIA PACIFIC: PLANT FACTORY MARKET SNAPSHOT 142
TABLE 81 ASIA PACIFIC: PLANT FACTORY MARKET SIZE, BY COUNTRY/REGION,
2019–2026 (USD BILLION) 143
TABLE 82 ASIA PACIFIC: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 143
TABLE 83 ASIA PACIFIC: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 143
TABLE 84 ASIA PACIFIC: PLANT FACTORY MARKET SIZE, BY LIGHT TYPE,
2019–2026 (USD BILLION) 144
TABLE 85 ASIA PACIFIC: PLANT FACTORY MARKET SIZE, BY CROP TYPE,
2019–2026 (USD BILLION) 144
12.4.1 CHINA 145
12.4.1.1 High adoption rate of plant factories and increasing population 145
TABLE 86 CHINA: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 145
TABLE 87 CHINA: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 146
12.4.2 JAPAN 146
12.4.2.1 Staunch initiatives from the government and member companies 146
TABLE 88 JAPAN: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 146
TABLE 89 JAPAN: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 147
12.4.3 SINGAPORE 147
12.4.3.1 Food security concerns and extensive R&D 147
TABLE 90 SINGAPORE: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 147
TABLE 91 SINGAPORE: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 148
12.4.4 INDIA 148
12.4.4.1 Local players establishing partnerships with global companies 148
TABLE 92 INDIA: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 148
TABLE 93 INDIA: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 149
12.4.5 AUSTRALIA & NEW ZEALAND 149
12.4.5.1 Freshwater scarcity and harsh terrains of land bolstering the need for plant factories 149
TABLE 94 AUSTRALIA & NEW ZEALAND: PLANT FACTORY MARKET SIZE,
BY GROWING SYSTEM, 2019–2026 (USD BILLION) 149
TABLE 95 AUSTRALIA & NEW ZEALAND: PLANT FACTORY MARKET SIZE,
BY FACILITY TYPE, 2019–2026 (USD BILLION) 150
12.4.6 SOUTH KOREA 150
12.4.6.1 Favorable government legislation and investments by major players 150
TABLE 96 SOUTH KOREA: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 151
TABLE 97 SOUTH KOREA: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 151
12.4.7 TAIWAN 152
12.4.7.1 Lack of space and destructive calamities augmenting the plant factory market 152
TABLE 98 TAIWAN: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 152
TABLE 99 TAIWAN: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 152
12.4.8 REST OF ASIA PACIFIC 153
12.4.8.1 Lack of space and destructive calamities augmenting the plant factory market 153
TABLE 100 REST OF ASIA PACIFIC: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION) 153
TABLE 101 REST OF ASIA PACIFIC: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2019–2026 (USD BILLION) 153
12.5 SOUTH AMERICA 154
TABLE 102 SOUTH AMERICA: PLANT FACTORY MARKET SIZE, BY COUNTRY/REGION, 2019–2026 (USD BILLION) 154
TABLE 103 SOUTH AMERICA: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM, 2019–2026 (USD BILLION) 154
TABLE 104 SOUTH AMERICA: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 155
TABLE 105 SOUTH AMERICA: PLANT FACTORY MARKET SIZE, BY LIGHT TYPE,
2019–2026 (USD BILLION) 155
TABLE 106 SOUTH AMERICA: PLANT FACTORY MARKET SIZE, BY CROP TYPE,
2019–2026 (USD BILLION) 155
12.5.1 BRAZIL 156
12.5.1.1 High adoption rate of plant factories 156
TABLE 107 BRAZIL: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 156
TABLE 108 BRAZIL: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 156
12.5.2 ARGENTINA 157
12.5.2.1 Growth in the agricultural sector 157
TABLE 109 ARGENTINA: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 157
TABLE 110 ARGENTINA: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 157

12.5.3 REST OF SOUTH AMERICA 158
12.5.3.1 Lack of water availability and inconvenient land structures facilitating the need for plant factories 158
TABLE 111 REST OF SOUTH AMERICA: PLANT FACTORY MARKET SIZE,
BY GROWING SYSTEM, 2019–2026 (USD BILLION) 158
TABLE 112 REST OF SOUTH AMERICA: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE, 2019–2026 (USD BILLION) 158
12.6 REST OF THE WORLD 159
TABLE 113 ROW: PLANT FACTORY MARKET SIZE, BY REGION, 2019–2026 (USD BILLION) 159
TABLE 114 ROW: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 159
TABLE 115 ROW: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 160
TABLE 116 ROW: PLANT FACTORY MARKET SIZE, BY LIGHT TYPE,
2019–2026 (USD BILLION) 160
TABLE 117 ROW: PLANT FACTORY MARKET SIZE, BY CROP TYPE,
2019–2026 (USD BILLION) 160
12.6.1 AFRICA 161
12.6.1.1 Conscious efforts by the government 161
TABLE 118 AFRICA: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 161
TABLE 119 AFRICA: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 161
12.6.2 MIDDLE EAST 162
12.6.2.1 Lack of fresh water augmenting the demand for CEA practices 162
TABLE 120 MIDDLE EAST: PLANT FACTORY MARKET SIZE, BY GROWING SYSTEM,
2019–2026 (USD BILLION) 162
TABLE 121 MIDDLE EAST: PLANT FACTORY MARKET SIZE, BY FACILITY TYPE,
2019–2026 (USD BILLION) 162
13 COMPETITIVE LANDSCAPE 163
13.1 OVERVIEW 163
13.2 MARKET SHARE ANALYSIS OF PLANT FACTORY COMPANIES 163
TABLE 122 PLANT FACTORY MARKET: DEGREE OF COMPETITION 164
13.3 KEY PLAYER STRATEGIES 164
13.4 REVENUE ANALYSIS OF KEY PLAYERS 165
FIGURE 50 PLANT FACTORY MARKET: REVENUE ANALYSIS, 2016–2020 (USD MILLION) 165
13.5 COVID-19 SPECIFIC COMPANY RESPONSE 165
13.6 COMPANY EVALUATION QUADRANT: DEFINITIONS & METHODOLOGY
(OVERALL MARKET) 166
13.6.1 STARS 166
13.6.2 EMERGING LEADERS 166
13.6.3 PERVASIVE PLAYERS 166
13.6.4 PARTICIPANTS 166
FIGURE 51 PLANT FACTORY MARKET: COMPANY EVALUATION QUADRANT,
2019 (KEY PLAYERS) 167
13.7 PRODUCT FOOTPRINT 168
TABLE 123 PLANT FACTORY MARKET: COMPANY PRODUCT FOOTPRINT 168
TABLE 124 PLANT FACTORY MARKET: COMPANY INDUSTRY FOOTPRINT 169
13.8 REGIONAL FOOTPRINT 170
TABLE 125 PLANT FACTORY MARKET: COMPANY REGIONAL FOOTPRINT 170
TABLE 126 PLANT FACTORY MARKET: COMPANY FOOTPRINT 171
13.9 COMPANY EVALUATION QUADRANT (START-UPS/SMES) 172
13.9.1 PROGRESSIVE COMPANIES 172
13.9.2 STARTING BLOCKS 172
13.9.3 RESPONSIVE COMPANIES 172
13.9.4 DYNAMIC COMPANIES 172
FIGURE 52 PLANT FACTORY MARKET: COMPANY EVALUATION MATRIX,
2020 (START-UPS/SMES) 173
13.10 COMPETITIVE SCENARIO 174
13.10.1 DEALS 174
TABLE 127 DEALS, 2018–2021 174
13.10.2 OTHERS 175
TABLE 128 OTHERS, 2018–2021 175
14 COMPANY PROFILES 177
(Business overview, Products offered, Recent developments & MnM View)*
14.1 KEY PLAYERS 177
14.1.1 AEROFARMS 177
TABLE 129 AEROFARMS: BUSINESS OVERVIEW 177
TABLE 130 AEROFARMS: PLANT FACTORY MARKET: DEALS 178
TABLE 131 AEROFARMS: PLANT FACTORY MARKET: OTHERS 178
14.1.2 GOTHAM GREENS 180
TABLE 132 GOTHAM GREENS: BUSINESS OVERVIEW 180
TABLE 133 GOTHAM GREENS: PLANT FACTORY MARKET: OTHERS 181
14.1.3 BOWERY FARMING 182
TABLE 134 BOWERY FARMING: BUSINESS OVERVIEW 182
14.1.4 OISHII 184
TABLE 135 OISHII: BUSINESS OVERVIEW 184
14.1.5 PLENTY UNLIMITED INC 186
TABLE 136 PLENTY UNLIMITED INC.: BUSINESS OVERVIEW 186
TABLE 137 PLENTY UNLIMITED INC. PLANT FACTORY MARKET: DEALS 187
TABLE 138 PLENTY UNLIMITED INC. PLANT FACTORY MARKET: OTHERS 187
14.1.6 MIRAI CO., LTD. 189
TABLE 139 MIRAI CO LTD. BUSINESS OVERVIEW 189
TABLE 140 MIRAI CO. LTD. PLANT FACTORY MARKET: DEALS 190
14.1.7 AGRICOOL 191
TABLE 141 AGRICOOL: BUSINESS OVERVIEW 191
14.1.8 APPHARVEST 193
TABLE 142 APPHARVEST: BUSINESS OVERVIEW 193
TABLE 143 PLANT FACTORY MARKET: APPHARVEST: OTHERS 194
TABLE 144 APPHARVEST: PLANT FACTORY MARKET: DEALS 194
14.1.9 CROP ONE 196
TABLE 145 CROP ONE: BUSINESS OVERVIEW 196
14.1.10 BRIGHTFARMS 198
TABLE 146 BRIGHTFARMS: BUSINESS OVERVIEW 198
14.2 OTHER PLAYERS 200
14.2.1 FARMINOVA PLANT FACTORY N.V. 200
TABLE 147 FARMINOVA PLANT FACTORY N.V. BUSINESS OVERVIEW 200
14.2.2 TAIKISHA LTD. 202
TABLE 148 TAIKISHA LTD.: BUSINESS OVERVIEW 202
FIGURE 53 TAIKISHA CO LTD: COMPANY SNAPSHOT 202
14.2.3 IRON OX 204
TABLE 149 IRON OX: BUSINESS OVERVIEW 204
TABLE 150 IRON OX: PLANT FACTORY MARKET: OTHERS 204
14.2.4 VERTICAL HARVEST 206
TABLE 151 VERTICAL HARVEST: BUSINESS OVERVIEW 206
14.2.5 SMALLHOLD 208
TABLE 152 SMALLHOLD: BUSINESS OVERVIEW 208
14.2.6 BADIA FARMS 210
14.2.7 FARMONE 211
14.2.8 KALERA 212
14.2.9 SKY GREENS 213
14.2.10 DREAM HARVEST FARMING COMPANY LLC 213
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
15 ADJACENT & RELATED MARKETS 214
15.1 INTRODUCTION 214
TABLE 153 ADJACENT MARKETS FOR PLANT FACTORY 214
15.2 LIMITATIONS 214
15.3 HYDROPONICS MARKET 215
15.3.1 MARKET DEFINITION 215
15.3.2 MARKET OVERVIEW 215
15.4 HYDROPONICS MARKET, BY TYPE 215
15.4.1 INTRODUCTION 215
TABLE 154 HYDROPONICS MARKET SIZE, BY TYPE, 2018–2026 (USD MILLION) 216

15.5 INDOOR FARMING TECHNOLOGY MARKET 216
15.5.1 MARKET DEFINITION 216
15.5.2 MARKET OVERVIEW 216
15.6 INDOOR FARMING TECHNOLOGY MARKET, BY FACILITY TYPE 217
TABLE 155 INDOOR FARMING TECHNOLOGY MARKET SIZE, BY FACILITY TYPE,
2015–2018 (USD MILLION) 217
16 APPENDIX 218
16.1 DISCUSSION GUIDE 218
16.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 223
16.3 AVAILABLE CUSTOMIZATIONS 225
16.4 RELATED REPORTS 225
16.5 AUTHOR DETAILS 226

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