United States Agritecture Market is Expected to be Dominated by Indoor Agritecture through 2028
The lack of arable land is anticipated to fuel
expansion in the United States agritecture market.
According to TechSci
Research report, “United States
Agritecture- By Region,
Competition, Forecast and Opportunities, 2028”, the United States agritecture market is anticipated to expand at
a remarkable rate. The demand for organic
and locally sourced food products is rising, farming practices must be more
productive and efficient, and new technologies for indoor and vertical farming
are emerging. These factors are all contributing to the rapid growth of the United
States agritecture market. The agritecture companies continues to face several
challenges, including high capital costs, restricted access to financing, and
the requirement for specialized labor to operate innovative farming equipment.
The rise of indoor and vertical farming practices are also being fueled by the
trend towards urbanization and the reduction of areas that can be used for
traditional outdoor farming practices.
The COVID-19 pandemic
had a significant impact on the United States agritecture market. While the
initial stage of the pandemic disrupted the food supply chain and created
significant challenges for farmers and food producers, it also led to an
increased focus on the importance of locally sourced and sustainable food
products. As a result, the demand for indoor and vertical farming techniques
grew, as they provide a reliable and efficient source of fresh produce that is
less susceptible to supply chain disruptions. Additionally, the pandemic
accelerated the adoption of technologies such as automation and robotics in
farming practices, reducing the need for human labor, and minimizing the risk
of infection. However, the pandemic also created financial challenges for many
farmers and entrepreneurs, as disruptions in the supply chain and changes in
consumer behavior impacted their revenue streams.
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The United States
agritecture market can be segmented by integration, structure, application,
and region.
Based on integration,
the market can be segmented into indoor and outdoor. In the upcoming years, the
indoor segment is expected to dominate the United States
Agritecture market for a few factors. The rising demand for foods that are
sustainably produced and locally sourced is one of the main motivators. By
providing a controlled and effective environment for growing crops, indoor
farming methods such as hydroponics and vertical farming make it simpler to
produce high-quality produce without the need of pesticides and fertilizers. Furthermore,
the indoor segment is more reliable as a source of fresh produce because it is
less influenced by environmental factors like weather and climate change. Due
to the trend towards urbanization, there is less land available for traditional
outdoor farming, making indoor farming a more appealing alternative. In
addition, indoor farming technologies are more affordable, making it easier for
farmers and business to adopt.
In terms of application,
the market can be divided into commercial and residential. Due to several
factors, the commercial segment is anticipated to rule the United States agritecture
market in the upcoming years. Restaurants, supermarkets, and other commercial
establishments' rising need for sustainably and locally sourced food is one of
the main motivating factors. Commercial farming is best served by indoor and
vertical growing methods since they provide a continuous and reliable source of
fresh food without being dependent on outside variables like weather. Commercial
agritecture companies are also more likely to have access to funding and are
better able to handle the large upfront expenses associated with sophisticated
farming technologies. Due to the trend towards urbanization, traditional
outdoor farming's land availability is decreasing, making indoor and vertical
farming a more appealing alternative for commercial farming. Additionally, it
is anticipated that the use of data analytics and precision agriculture would
grow, significantly enhancing the effectiveness and productivity of commercial
farming operations.
Based on the region,
the market can be classified into following categories, Northeast Region,
Midwest Region, South Region, and West Region. In the coming years, the
Northeast is expected to dominate the United States Agritecture market for
numerous factors. The region's dense population is one of the main drivers since
it increases the need for foods that are sustainably produced and obtained
locally. Additionally, the Northeast region has a cooler climate, which makes
traditional outdoor farming more difficult and increases the appeal of indoor
and vertical farming. Additionally, the area has a well-established network of
food establishments, including restaurants and supermarkets, which gives nearby
farmers a steady market. Additionally, the Northeast is home to several
prominent universities, research facilities, and technology centers that
support innovation and promote the adoption of cutting-edge farming techniques.
Major companies
operating in United States agritecture market include:
- BrightFarms Inc.
- AeroFarms LLC
- Gotham Greens Holdings LLC
- Plenty Unlimited Inc.
- Bowery Farming Inc.
- Farm.One
- Local Roots Farms
- Urban Oasis'
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“The desire for organic and
locally sourced foods, the move towards urbanization, and the implementation of
cutting-edge farming technologies are all contributing to the enormous rise of
the United States agritecture market. Growing crops in a regulated and
effective environment is made possible by indoor and vertical farming
techniques, which are becoming more and more popular. Additionally,
technological developments like the application of data analytics and precision
agriculture are enhancing the effectiveness and productivity of farming
operations. Robotics and automation are being used more frequently on the
market, which will reduce the demand for human labor and the risk of infection.
Solar panels and other renewable energy sources are also being used more
frequently, which improves the sustainability and lowers the carbon footprint
of farming operations.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“United States
Agritecture Market, By Integration (Indoor, Outdoor), By Structure
(Retrofitting, Extension, and New Building), By Application (Commercial, Residential),
By Region, Competition, Forecast and Opportunities, 2028”, has evaluated the future
growth potential of United States 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 United States agritecture market.
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