Urban Farming Market Size Projected to Garner USD 261.1 Million by 2032 growing at 2.7% CAGR - Exclusive Report by Acumen Research and Consulting

Author: Acumen Research and Consulting

The Global Urban Farming Market Size is predicted to reach USD 261.1 Million by 2032 from USD 202.9 Million in 2022, at a CAGR of 2.7% between 2023 and 2032, as per the Acumen Research and Consulting

The market growth of urban farming has been substantial in recent years and is projected to continue expanding in the coming years. Urban farming refers to the practice of cultivating, processing, and distributing food in urban areas, typically within the confines of a city or town. It involves the production of crops and raising animals in small-scale agricultural systems such as rooftop gardens, community gardens, indoor vertical farms, and hydroponic systems. Urban farming aims to address food security, sustainability, and community development challenges by bringing food production closer to urban populations.

In recent years, urban farming has experienced significant growth due to various factors. One key driver is the increasing awareness of the environmental impact of conventional agriculture, including the depletion of natural resources, greenhouse gas emissions, and long-distance transportation of food. Urban farming offers a more sustainable alternative by reducing transportation requirements, utilizing unused urban spaces, and implementing efficient water and energy management systems. Moreover, the demand for locally sourced, fresh, and organic produce has been on the rise. Urban farming allows consumers to have direct access to locally grown food, thereby reducing the time and distance between production and consumption. This localized approach also promotes a stronger connection between urban dwellers and their food sources, fostering a sense of community and supporting the local economy.

Urban Farming Market Analysis

Urban Farming Market Statistics

  • Global urban farming market value was worth USD 202.9 Million in 2022, with a 2.7% CAGR from 2023 to 2032
  • Asia-Pacific urban farming market share occupied around 42% in 2022
  • By growth type, the hydroponics segment captured the largest market share in 2022
  • By crop type, the food crops segment is expected to show noticeable growth during the predicted period
  • Rising consumer demand for organic and local produce, propel the urban farming market revenue

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Urban Farming Market Trends

The urban farming market is entering an evolving era characterized by advancements in technology, changing consumer preferences, and increasing support from governments and organizations. These factors are reshaping the landscape of urban farming and paving the way for its further growth and development.

One significant trend in the evolving era of urban farming is the integration of smart technologies and automation. IoT (Internet of Things) sensors, data analytics, and automation systems are being employed to monitor and manage various aspects of urban farming, including temperature, humidity, nutrient levels, and irrigation. This integration enables precise control and optimization of growing conditions, leading to increased productivity and resource efficiency.

Another aspect driving the evolution of urban farming is the focus on vertical farming and indoor agriculture. Vertical farming involves cultivating crops in stacked layers or shelves, often in vertically designed buildings or containers. This approach maximizes space utilization and allows for year-round production in controlled environments. The advancements in LED lighting, hydroponic systems, and vertical farming technologies are enabling urban farmers to produce high-quality crops efficiently, even in limited urban spaces.

Urban Farming Market Segmentation

Acumen Research and Consulting has segmented the global urban farming market by growth type, structure type, crop type, and region.

  • By growth type, the industry is categorized into aquaponics, hydroponics, and aeroponics.
  • By structure type, the market is divided into indoor, and outdoor.
  • By crop type, the market is bifurcated into food crops (grains & cereals, fruits, vegetables, and others), and non-food crops (medicinal herbs, aromatic herbs, ornamental plants, and others).
  • By region, the market is classified into Asia-Pacific, Latin America, North America, Europe, and the MEA.

Urban Farming Market Regional Overview

According to the urban farming industry analysis, North America is emerging as a growing region in the coming year. One of the primary reasons is the increasing demand for locally sourced and fresh produce among consumers. There is a growing awareness of the environmental impact of long-distance food transportation and a desire to support local food systems. Urban farming allows for the cultivation of crops closer to urban centers, reducing transportation distances and providing consumers with access to high-quality, freshly harvested produce. Additionally, North America is witnessing a surge in the adoption of innovative technologies and entrepreneurial spirit in the urban farming sector. The region is home to numerous startups and companies that are developing and implementing advanced farming techniques such as hydroponics, vertical farming, and aquaponics. These technologies offer higher productivity, year-round cultivation, and efficient resource utilization, making urban farming a viable and attractive option for entrepreneurs and investors in North America. Furthermore, governments and organizations in North America are actively promoting and supporting urban farming initiatives.

Urban Farming Market Players

Some of the prominent urban farming market companies are AeroFarms, BrightFarms, Gotham Greens, Plenty, Square Roots, Bowery Farming, Farm.One, Infarm, LocalGarden, and Freight Farms.

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