Rising Demand for Organic Food: Key Driver Transforming the Controlled Environment Agriculture Market in 2024

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The controlled environment agriculture market size has experienced significant growth over the last few years. Projections show a rise from $79.03 billion in 2023 to $90.25 billion in 2024, reflecting a compound annual growth rate CAGR of 14.2%. This growth can be attributed to an increase in the popularity of vertical farming, a surge in urban agriculture projects, escalating consumer demand for high-value crops, and a heightened awareness of food security along with a growing consumer preference for organic and pesticide-free food.

What Is the Anticipated Growth Rate And Market Size Of The Global Controlled Environment Agriculture Market?

The above measures only signal the upward trajectory the controlled environment agriculture market is on. It is projected to reach $153.93 billion in 2028, showcasing a compound annual growth rate CAGR of 14.3%. This growth during the forecast period can be attributed to burgeoning populations, urbanization, the necessity for increased food production, amplified food demand, and rising demand for fresh and locally grown produce.

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What Are The Primary Drivers Of The Controlled Environment Agriculture Market?

One of the main drivers propelling the controlled environment agriculture market is the surging demand for organic food. Organic food, free from synthetic pesticides, fertilizers, genetically modified organisms, and artificial additives, focuses on natural processes and sustainable practices. Their increasing popularity is propelled by greater consumer awareness of health benefits, environmental sustainability, and the desire for natural and chemical-free products. Controlled environment agriculture provides a key solution by eliminating the need for synthetic pesticides and fertilizers and allows for year-round optimized growth of organic crops with precise control over light, temperature, and nutrients.

Who Are The Key Players Amplifying The Growth Of The Controlled Environment Agriculture Market?

Major companies operating in this market, include 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.

What Emerging Trends Are Shaping The Controlled Environment Agriculture Market?

Showcasing a commitment to efficiency and sustainability, key players in the market are focused on innovative technologies, such as vertical hydroponic farming. These farms are a type of indoor farming system where plants are grown in vertically stacked layers, or towers, using a hydroponic growing method. An example of such innovation is the Hydroponic Fodder Farm launched in September 2022 by US-based FarmBox Foods LLC, designed to grow livestock feed efficiently.

How Is The Global Controlled Environment Agriculture Market 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

What Are The Regional Insights Into The Controlled Environment Agriculture Market?

Europe emerged as the largest region in the controlled environment agriculture market in 2023. The report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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