New York, According to a new market research report published by Global Insight Services “Plant Factory Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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A plant factory is a facility in which plants are grown under controlled conditions. These facilities can be used to produce food, medicine, or other products. Plant factories may be used to grow crops in regions with limited space or resources, or to produce plants that are resistant to pests or diseases.
Key Trends
One of the key trends in Plant Factory technology is the use of LED lighting. LEDs are more efficient than traditional incandescent bulbs, and they generate less heat.
Another key trend is the use of vertical farming techniques. In vertical farming, crops are grown in vertically stacked layers, with each layer having its own controlled environment.
Overall, Plant Factory technology is an exciting field with great potential. The use of efficient LED lighting and vertical farming techniques can help to increase yields, while also reducing the amount of land required for farming.
Key Drivers
The key drivers of the plant factory market are the ever-increasing demand for food, the need for efficient and sustainable production methods, and the advances in technology that have made plant factories more efficient and cost-effective.
The demand for food is increasing globally as the population continues to grow. The United Nations estimates that the world population will reach 9.7 billion by 2050, which is an increase of more than 2 billion people from the current 7.3 billion.
The need for efficient and sustainable production methods is also a key driver of the plant factory market. With the world’s resources becoming increasingly scarce, it is essential to find ways to produce food that use less land, water, and energy.
Finally, the advances in technology that have made plant factories more efficient and cost-effective are also driving the market.
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Market Segments
The plant factory market is segmented by facility type, growing system, crop type, and region. By facility type, the market is classified into greenhouses, indoor farms, and others. Based on growing system, it is bifurcated into soil-based, non-soil based, and hybrid. On the basis of crop type, it is divided into fruits, vegetables, flowers, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
Key Players
The global plant factory market includes players such as Bright Farms, Gotham Greens, Aero Farms, Bowery Farming, AppHarvest, Kalera, Iron Ox, Agricool, Crop One, Sky Greens, and others.
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Reasons to buy Plant Factory Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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