Global urban farming market size, share and growth analysis for 2024-2033

The Business Research Company's Urban Farming Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, June 27, 2024 /EINPresswire.com/ -- The urban farming market has experienced robust growth in recent years, expanding 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.
Strong Future Growth Anticipated

The urban farming market is projected to continue its strong growth, reaching $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.

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Growth driver of the urban farming market

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.

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Major Players and Market Trends

Key players in the urban farming market include Infarm, Richel Group, UrbanFarmers AG, Plenty Unlimited Inc., Bowery Farming, Dalsem, Certhon, Aerofarms, Pasona, Plantagon International AB.
Major companies operating in the urban farming market are focusing on developing technologically advanced products, such as cloud-connected growing centers, to better meet the needs of their existing consumers. Cloud-connected growing centers are agricultural facilities with integrated technology that enables remote monitoring and data analysis through cloud-based systems for optimized crop cultivation.

Segments:

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

Geographical Insights: North America Leading the Market

North America was the largest region in the urban farming market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of urban farming.
Urban Farming Market Definition

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.

Urban Farming Global Market Report 2024 from TBRC covers the following information:

• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.

The Urban Farming Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on urban farming market size, urban farming market drivers and trends, urban farming market major players, competitors' revenues, market positioning, and market growth across geographies. The urban farming market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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