The Global Urban Farming Market Size Was US$ 137.5 Billion In 2021. It Is Forecast To Grow To US$ 281.9 Billion By 2030 By Registering A CAGR Of 3.1% During The Forecast Period From 2022 To 2030.

Urban Farming Market Overview:

The size of the urban farming market was very big in 2021, and it is expected to have a high revenue CAGR over the next few years. Over the next few years, the market is expected to make more money because more people are using better production methods and learning more about nutrition, health, education, and food security. Also, the growing number of people living in cities, the growing demand for food products and high-quality produce, the use of technology-driven agriculture and advanced agriculture strategies are all key factors that can help the market earn more money.

Urban farming, which is also called "urban agriculture," is a way to grow or raise food in cities and within city limits. Urban farming is done in cities to improve people's quality of life, as well as their access to food and their chances of making money. Also, making money is a big difference between urban farming and other things like gardening, community gardening, and even homesteading. Urban farms are like small versions of traditional farms that are used to grow crops, process them, and sell them in cities. Urban farming isn't just limited to farms on people's own land. It can also include techniques like vertical farming, farms on rooftops, warehouse and community farming, and so on. Urban farming can also include raising livestock, aquaculture, agroforestry, and horticulture. This is similar to farming in the country or in a village, and it can be done anywhere in the city on small orchards or in small spaces.

Urban farming not only makes it easier to get high-quality food, but it also gets people involved in growing food and in other ways. It helps build green infrastructure and improve the urban environment. It also plays a big part in recycling organic waste from cities. But over the next few years, the market's revenue growth could be slowed down a bit by the high costs of the first installment. The Covid-19 pandemic also caused logistical problems, lockdowns, a lack of skilled workers, and other problems that hurt the growth of the market.

Market Dynamics:

Driver:

Urban farming uses advanced farming techniques and methods that can be used at any time of the year. This makes it easier to get a steady crop yield all year long. By cutting down on the time it takes to harvest, these methods also make it easier to get high-quality crops in a short amount of time. Urban farming has the advantage that it can be done both indoors and outdoors. This makes it a popular way to grow crops and do other things to make and process food. A few other important factors that drive urban farming market revenue are being independent of climate change and environmental conditions and making sure there is enough food for everyone in the world. As the world's population and demand for food continue to grow by leaps and bounds, urban farming is becoming more and more important. Over the next few years, the urban farming market is expected to make a lot more money because transportation and delivery costs for fresh and healthy foods will go down.

Restraint:

Some of the main things that can slow revenue growth in the urban farming market are high operational costs, high costs to get started, and a lack of skilled workers. Heavy metals in urban soil can make people worry about food safety. Urban farming can make the soil and water dirty and cause other problems for the environment. Also, urban farming needs to control things like temperature, lighting, humidity, and water, which can be hard to do and can make it more expensive to grow and harvest crops. Also, keeping these conditions going requires a lot of power, which raises the total cost of production. These things make it harder for urban farming to be used around the world and can slow the growth of the market.

Opportunity:

The goal of urban farming is to meet the demand for high-quality products around the world without using a lot of pesticides or herbicides. It also helps to increase the amount of vegetables, fruits, and other food products that are grown and processed within the city limits and in small urban areas. With a growing population and more people living in cities, urban farming is likely to become much more important. So, during the forecast period, there are likely to be more city plans that include farming and more government programs that help farmers. Also, we need advanced technologies to reduce the need for labour and our dependence on the environment. This means that there are more chances for research and development. Fewer places to grow crops and more people wanting to eat food that is grown in a sustainable way are likely to create new business opportunities for the big companies in the urban farming market.

Segmentation Analysis:

By Type Analysis:

Hydroponics is the type of growth that is expected to bring in the most money in the global market over the next few years. Hydroponics is a way to help plants grow better indoors without soil. Hydroponics is becoming more popular because it is easy to set up, doesn't cost much to maintain, and produces a lot of crops. Hydroponics is also good for the environment because it uses less water and space and saves water. In addition, reduced usage of pesticides, high yield of nutrient rich produce, and higher crop growth rate have further boosted adoption of hydroponic technique and contributed to the revenue growth of the urban farming market.

By Structure Analysis:

Based on the type of structure, the indoor urban farming segment is expected to bring in a lot more money over the next few years. Due to rapid urbanisation and industrialization, there is less land that can be used for farming. This has led to an increase in indoor urban farms. Using artificial lights, irrigation systems, and growth systems like hydroponics and aquaponics, indoor farming is done in rooms with controlled temperatures and humidity. Indoor farms can also be built to fit any small space or building, and they don't cost much. This makes them a profitable choice on the market. Using urban farming techniques, it's easy to grow crops like kale, strawberries, herbs, and shrubs. Over the next few years, the segment's revenue growth is likely to be driven by these key factors.

Regional Insights:

North America is expected to bring in the most money over the next few years. This is because a lot of money is being put into the agricultural sector, new technologies and farming strategies are being used, and more urban farming techniques like vertical farming are being used in these areas.

The US is a big player in the urban farming market in North America. The U.S. Department of Agriculture (USDA) said that the Federal Advisory Committee for Urban Agriculture and Innovative Production will hold its first public meeting in March 2022. The goal of the committee is to help urban farmers by giving them information and advice. This will strengthen the local food systems, make it easier for people to get high-yielding crops and healthy local food, and make things more fair.

Over the next few years, Asia Pacific is expected to have a high revenue growth rate. This is because the region's population is growing, crops are becoming less dependent on the weather, more people want high-yield crops, and more people are paying attention to healthy, chemical-free food. Countries in the Asia-Pacific region are also becoming more urban, and there are less farmable lands available. This is expected to make urban farming more popular there. A few other major factors that are driving the revenue share of the urban farming market are the use of advanced urban farming techniques and equipment to increase the amount of crops grown each year and the fact that major companies are investing more money in the market.

Scope Analysis

Recent Development:

• In February 2020, Urban Crop Solutions teamed up with CropKing to improve service delivery.
• In March 2022, the Delhi Government launched a campaign to promote urban agriculture in Delhi. Through this campaign, the Delhi Government hopes to encourage community and garden farming to make optimal use of space in concrete houses and buildings and provide a ward-wide action plan for the implementation of urban agriculture. The Delhi government is also planning to increase production of high-quality food and reduce the use of chemicals and pesticides. It also envisioned the Delhi Environmental Protection Commission (DEPC) to increase awareness and adoption of urban agriculture. DEPC aims to provide education, training and solutions for urban agriculture.

Market Segmentation

By Type:

• Aquaponics
• Hydroponics
• Aeroponics
• Others

By Structure:

• Indoor
• Outdoor
• Others

By Companies:

• Bowery Farming (U.S.)
• GrowUP Urban Farms (U.K.)
• Freight Farms (U.S.)
• Edenworks Inc. (U.S.)
• Brooklyn Grange Farm (U.S.)
• Sky Green (Singapore)
• BrightFarms (U.S.)
• Metropolitan Farms (U.S.)
• Garden Fresh Farms (U.S.)
• Square Roots (U.S.)
• SproutsIO (U.S.)
• Others