Agritecture Market to Grow with a CAGR of 10.24% through 2028
Increase in the Sustainability and Environmental
Awareness and increase in the concern of food safety is expected to drive the North
America Agritecture Market growth in the forecast period, 2024-2028.
According to
TechSci Research report, “Agritecture Market – North America Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the North
America Agritecture Market stood at USD 1774.16 million in 2022 and is anticipated
to grow with a CAGR of 10.24% in the forecast period, 2024-2028. The awareness
among individuals regarding Agritecture has led to favorable market conditions
for the North America Agritecture market. Several factors contribute to the
growth of various Agritecture products.
Agritecture, a
fusion of agriculture and architecture, has evolved significantly over the
years. From traditional farming methods to innovative urban agriculture
solutions, this industry's growth has been driven by a need to sustainably meet
the demands of a rapidly urbanizing world. Additionally, Sustainability
takes center stage as the first major driver. In an era plagued by
environmental concerns, the agricultural sector seeks greener pastures.
Sustainable agritecture practices reduce carbon footprints, promote efficient
resource usage, and lower waste production. The imperative to combat climate
change has ignited the adoption of eco-friendly solutions.
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Companies that
adopt sustainable agritecture practices not only contribute to a greener world
but also appeal to environmentally conscious consumers. Moreover, regulatory
incentives and consumer preferences favor sustainability, making it a strategic
choice for businesses in the North America Agritecture Market. Automated
systems for planting, harvesting, and monitoring crop health reduce labor costs
and increase precision, which will further fuel market growth.
In February
2023, Bowery Farming, another leading vertical farming company, opened a new
facility in Chicago, Illinois. The facility is expected to produce over 100,000
pounds of leafy greens annually.
Increasing
environmental awareness and concerns about the carbon footprint of food
production have led consumers to seek more sustainable and locally sourced
options. Agritecture allows for year-round, localized production, reducing transportation
emissions. Recent food safety incidents have highlighted the importance of
knowing the origin of food products. Agritecture offers transparency and
traceability, assuring consumers of safe and responsibly produced food.
In our
fast-paced, modern world, the concept of agritecture, which blends agriculture
and architecture, has emerged as a transformative solution to several pressing
challenges. Agritecture represents a paradigm shift in how we produce and
access food, and its use is poised to have a profound impact on sustainability,
urbanization, and food security. Agritecture plays a pivotal role in promoting
sustainability, addressing the environmental consequences of traditional
agriculture. By integrating food production into urban environments,
agritecture reduces the carbon footprint associated with transporting food over
long distances. It also minimizes the use of harmful pesticides and herbicides
by providing controlled environments for cultivation. Sustainable practices
such as recycling water and utilizing energy-efficient technologies further
reduce the environmental impact. In a world grappling with climate change and
resource depletion, agritecture offers a path toward more sustainable food
systems. As the world's population continues to migrate to urban areas,
agritecture addresses the challenges of limited arable land and the need for
localized food production. By repurposing underutilized urban spaces, such as
rooftops, abandoned warehouses, and parking lots, agritecture maximizes land
efficiency. Vertical farms, greenhouses, and aquaponic systems transform urban
spaces into thriving food production hubs, reducing the dependence on rural
agriculture. This urban integration of food production aligns with the rapid
pace of global urbanization.
The use of AI
and data analytics enables precise monitoring and management of agritecture
systems. This leads to optimized resource allocation, reduced waste, and higher
crop yields, making agritecture more economically viable. AI-powered predictive
maintenance systems help prevent equipment breakdowns, reducing downtime and
operational disruptions. This technology lowers maintenance costs and improves
system reliability.
In recent times,
agritecture, the fusion of agriculture and architecture, has emerged as a
highly valuable and innovative approach to addressing a range of contemporary
challenges. This dynamic field offers practical solutions and advantages that
have proven instrumental in improving various aspects of our lives. Agritecture
plays a vital role in sustainable food production. With the global population
steadily increasing, the demand for food grows as well. However, traditional
agriculture is often resource-intensive and contributes to environmental
degradation. Agritecture offers sustainable alternatives, such as vertical
farms, hydroponic systems, and rooftop gardens, which utilize less water,
minimize pesticide use, and reduce the carbon footprint associated with food
production. However, the safety of urban-grown produce is a concern that may
hinder market growth. Moreover, challenges related to skilled workforce and price
perception may pose obstacles to the Agritectures market in the near future.
The North
America Agritecture Market is segmented into integration, structure, application,
country distribution, and company.
Based on its
formulation, the indoor segment's dominance is its ability to offer year-round
production. Controlled environments, such as greenhouses and vertical farms,
provide a consistent climate and light conditions regardless of external
weather. This results in a continuous and predictable supply of fresh produce,
which is highly appealing to consumers and businesses alike. Indoor agritecture
systems are designed for maximum space utilization. Vertical farming, for
instance, stacks trays of crops vertically, allowing for a higher crop density
per square foot compared to traditional farming. This space efficiency is
crucial, especially in densely populated urban areas where land is scarce and
expensive. Indoor agritecture systems are engineered for resource efficiency.
They often use less water than traditional farming and can recycle and reuse
nutrient-rich water. Additionally, controlled environments reduce the need for
pesticides and herbicides, contributing to sustainability goals. The controlled
conditions in indoor agritecture systems enable the cultivation of a wide
variety of crops, including those that might not thrive in outdoor
environments. Moreover, these systems often produce crops of exceptional quality,
appealing to consumers and chefs who demand premium ingredients.
Based on region,
United States emerged as the dominant player in the North America Agritecture
market in 2022, holding the largest market share in terms of value. There are
several reasons for California's leadership in this market. Firstly, its
favorable climate allows for year-round outdoor and indoor crop production.
Secondly, the state has a long history of agricultural innovation, making it a
hub for agritecture research and development. Additionally, California's
commitment to sustainability and environmental awareness aligns with the core
values of agritecture, attracting businesses and investors seeking eco-friendly
solutions. California boasts a well-established agritecture ecosystem that
includes startups, research institutions, and established businesses. This
ecosystem fosters innovation, collaboration, and the sharing of best practices,
making it an attractive destination for agritecture ventures. The state's
robust economy and access to venture capital make it easier for agritecture
businesses to secure funding for research, development, and expansion. The
availability of capital accelerates market growth and innovation. California's
population is known for its preference for locally sourced, sustainable, and
organic products. This aligns with the principles of agritecture, which places
it in a strong position to meet consumer demand for fresh and eco-friendly
produce.
The Pacific
Northwest region, comprising Washington and Oregon, is poised to witness the
fastest market growth in the North America Agritecture Market. The region
offers a diverse climate, ranging from coastal areas to inland regions. This
diversity allows for a wide variety of crops to be grown year-round, making it
an ideal location for agritecture systems. Like California, the Pacific
Northwest places a strong emphasis on sustainability and environmental
consciousness. This aligns with the principles of agritecture and attracts
businesses and consumers seeking eco-friendly solutions. The region is home to
several tech hubs, including Seattle and Portland. These hubs are hotbeds of
innovation, providing access to advanced technologies and skilled professionals
that can enhance agritecture practices. There is a growing trend among
businesses and consumers in the Pacific Northwest to prioritize local sourcing.
Agritecture systems can provide a consistent supply of fresh, locally grown
produce that caters to this demand. The presence of renowned research institutions
in the region fosters agritecture research and development, driving innovation
and market growth.
Major companies
operating in North America Agritecture Market are:
- Eden Green
Technology
- Elevate Farms Inc.
- iFarm Corp
- OSRAM GmbH
- Plenty Unlimited
Inc.
- Agrilution GmbH
- AeroFarms LLC
- Sky Greens Inc
- Altius Farms Corp
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“The technology integration
and increasing urbanization are key drivers of the Agritecture market. In
recent years, Consumers are increasingly demanding fresh, pesticide-free, and
high-quality produce. Agritecture systems offer a solution by providing a
consistent supply of such products. Moreover, the growing consumer emphasis on
preventative agricultural products has enhanced production and marketing
efforts. To meet the demands of the market, manufacturers are increasingIn
recent times, agritecture, the fusion of agriculture and architecture, has emerged
as a highly valuable and innovative approach to addressing a range of
contemporary challenges. This dynamic field offers practical solutions and
advantages that have proven instrumental in improving various aspects of our
livesly incorporating cutting-edge technologies with high production
efficiency. Rising consumer acceptance and continuous product innovation will
further ensure the growth of the Agritectures and supplements market in the
coming years.,” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based management consulting firm.
“North
America Agritecture Market Segmented By Integration (Indoor, Outdoor), By
Structure (Retrofitting, Extension, New Building), By Application (Residential,
Commercial), By Country, Competition, Forecast & Opportunities, 2018-2028”,
has evaluated the future growth potential of North America Agritecture Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in North America Agritecture Market.
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