The controlled environment agriculture global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Controlled Environment Agriculture Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The controlled environment agriculture market size has grown rapidly in recent years. It will grow from $79.03 billion in 2023 to $90.25 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to rise in the popularity of vertical farming, growth in the number of urban agriculture projects, rise in consumer demand for high-value crops, increasing awareness of food security, and increasing consumer preference for organic and pesticide-free food.
The controlled environment agriculture market size is expected to see rapid growth in the next few years. It will grow to $153.93 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. The growth in the forecast period can be attributed to growing populations, rising urbanization, increasing food production, rising food demand, and increasing demand for fresh and locally grown produce. Major trends in the forecast period include advances in controlled environment agriculture technology, advanced packaging technologies, vertical farming techniques, climate control systems, and energy-saving technologies.
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Scope Of Controlled Environment Agriculture Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Controlled Environment Agriculture Market Overview
Market Drivers –
The rising demand for organic food is expected to propel the growth of the controlled environment agriculture market going forward. Organic food is produced using methods that avoid synthetic pesticides, fertilizers, genetically modified organisms, and artificial additives, emphasizing natural processes and sustainable practices. Organic foods are increasing in popularity due to growing consumer awareness of health benefits, environmental sustainability, and the desire for natural, chemical-free products. Controlled environment agriculture is used for organic food by providing a controlled environment that eliminates the need for synthetic pesticides and fertilizers, allowing organic crops to be grown year-round in optimized conditions with precise control over light, temperature, and nutrients. For instance, in May 2023, according to the Organic Trade Association, a US-based organization for protecting the organic trade, sales of organic food in the US surpassed $60 billion for the first time in 2022, and when non-food items are included, total organic sales hit a record $67.6 billion. Moreover, in February 2023, according to The Organic Research Centre, a UK-based non-profit organization, sales from the production of organic food and beverages in the United Kingdom grew from £3.05 billion ($3.88 billion) in 2021 to £3.11 billion ($3.95 billion) in 2022. Therefore, rising demand for organic food is driving the growth of the controlled environment agriculture market.
Market Trends –
Major companies operating in the controlled environment agriculture market are focused on developing innovative technologies, such as vertical hydroponic farms, to enhance efficiency and sustainability in agricultural practices. Vertical hydroponic farms are a type of indoor farming system where plants are grown in vertically stacked layers, or towers, using a hydroponic growing method. For instance, in September 2022, FarmBox Foods LLC, a US-based producer of solutions for container farming, launched the Hydroponic Fodder Farm, a vertical hydroponic system designed to grow livestock feed efficiently. The system uses cutting-edge hydroponic technology to provide a nutrient-rich water solution straight to the roots of the plants, guaranteeing quick and consistent growth. It incorporates monitoring and automation technologies to guarantee the production of high-quality feed and to improve growing conditions.
The controlled environment agriculture market covered in this report is segmented –
1) By Components: Lighting, Climate Control, Nutrients, Other Components
2) By Growing Method: Hydroponics, Aeroponics, Aquaponics, Other Growing Methods
3) By Crop Types: Tomato, Leafy Greens, Strawberries, Cucumber, Pepper, Cannabis, Other Crop Types
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Regional Insights –
Europe was the largest region in the controlled environment agriculture market in 2023. The regions covered in the controlled environment agriculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the controlled environment agriculture market are Siemens AG, Bowery Farming Inc., Priva Holding BV, Infarm, Gotham Greens Holdings LLC, BrightFarms Inc., AgriCool SAS, Terra Firma Capital Partners Limited, Lufa Farms Inc., Freight Farms Inc., AeroFarms LLC, Certhon, Vertical Harvest Farms, Green Sense Farms Holdings Inc., Sky Greens Pte Ltd., Urban Crop Solutions NV, Agrilution GmbH, Agritecture Consulting LLC, GreenTech Agro LLC, Kalera Inc., CubicFarm Systems Corp., Heliospectra AB, Hort Americas LLC, Mirai Co. Ltd.
Table of Contents
1. Executive Summary
2. Controlled Environment Agriculture Market Report Structure
3. Controlled Environment Agriculture Market Trends And Strategies
4. Controlled Environment Agriculture Market – Macro Economic Scenario
5. Controlled Environment Agriculture Market Size And Growth
…..
27. Controlled Environment Agriculture Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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