Categories: Market Research

Urban Farming Market By Product Type, By Manufacturers, By End-User And Market Trend Analysis Forecast 2033

Overview and Scope
Urban farming is the activity of cultivating agricultural produce, raising animals, or generating food in an urban setting that includes residential and commercial structures in the form of indoor controlled environment farming, community gardens, and rooftop gardens. Urban farming encourages sustainable agriculture, reduces food miles, and improves local food security by growing crops inside city borders and exploiting unoccupied places for fresh vegetables.

Sizing and Forecast
The urban farming market size has grown strongly in recent years. It will grow from $146.21 billion in 2023 to $159.92 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to increasing population and urbanization, climate change and environmental concerns, local food movement, government support and policies, rising awareness of health and nutrition.

The urban farming market size is expected to see strong growth in the next few years. It will grow to $217.49 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to post-industrialization and abandoned spaces, community gardens movement, green revolution and industrial agriculture critique, rooftop farming in ancient cultures, city beautiful movement and urban planning. Major trends in the forecast period include tech integration and automation, circular economy practices, hybrid farming models, corporate and institutional partnerships, aquaponics and integrated farming systems.

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The urban farming market covered in this report is segmented –

1) By Type: Aquaponics, Hydroponics, Aeroponics, Other Types
2) By Structure: Indoor, Outdoor
3) By Crop Type: Non-Food Crops, Food Crops
4) By Application: Commercial, Agriculture, Other Applications

North America was the largest region in the urban farming market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the urban farming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The decreasing availability of farmland is expected to propel the growth of the urban farming market in the coming years. Farmland is described as land employed for or ideal for farming, comprising cultivable land cultivated by plowing, planting, and reaping crops, as well as pasture or countryside used to graze cattle. Urban farming creatively addresses the challenge of diminishing farmland in urban centers by maximizing land utilization, promoting sustainability, and providing residents with access to fresh produce, thereby mitigating the impact of urbanization on traditional agriculture. For instance, in January 2024, according to the survey conducted by the U.S. Department of Agriculture, a US-based federal institution responsible for overseeing agriculture, there were 2.00 million farms in the United States in 2022, a decrease from 2.20 million compared to the last two decades. Similarly, farmland acres continue to decline, falling to 893 million acres in 2022 from 915 million acres. Therefore, the decreasing availability of farmland is driving the urban farming market.

Key Industry Players
Major companies operating in the urban farming market report are Infarm, Richel Group, UrbanFarmers AG, Plenty Unlimited Inc., Bowery Farming, Dalsem, Certhon, Aerofarms, Pasona, Plantagon International AB, Agrilution GmbH, BrightFarms Inc., Square Roots Urban Growers Inc., Brooklyn Grange Farm, Green Spirit Farm, Urban Crop Solutions, American Hydroponics, Sky Greens, GrowUP Urban Farms, Edenworks Inc., Garden Fresh Farms Inc, Metropolitan Farms, General Hydroponics, Green Sense Farms LLC, Eden Green Technology, Gotham Greens, Mirai Co. Ltd., SproutsIO Inc., Spread Co. Ltd, Harnois Greenhouses

The urban farming market report table of contents includes:

1. Executive Summary

2. Urban Farming Market Characteristics

3. Urban Farming Market Trends And Strategies

4. Urban Farming Market – Macro Economic Scenario

5. Global Urban Farming Market Size and Growth
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32. Global Urban Farming Market Competitive Benchmarking

33. Global Urban Farming Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Urban Farming Market

35. Urban Farming Market Future Outlook and Potential Analysis

36. Appendix

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