Market Research Report

Global Floating Farm Market Research Report: Forecast (2023-2028)

By Farm Type (Aquaculture Farm, Agriculture Farm), By Product Type (Fruits & Vegetables, Fish, Others), By Equipment Type (Cages, Harvesting Equipment, Monitoring System, Tanks, Ot...hers), By Technology (Hydroponics, Aquaponics, Vertical Farming), By Region (Americas, Europe, The Middle East & Africa, Asia-Pacific), By Company (AgriSea, Singapore Aquaculture Technologies, Lingalaks AS, SalMar ASA, Saudi Basic Industries Corporation, N-ARK Co. Ltd., Ocean Arks Tech, AI Qamra holding, Bangladesh Agricultural Research Institute (BARI), Others) Read more

  • Environment
  • May 2023
  • 187
  • ET55033

Market Definition

Floating farms consist of artificial farms that are created over a water body like a wetland, lake, or pond that is usually located in urban areas. The idea of a floating farm is an emerging concept that is considered beneficial to cope with the issue of food security and climate change. These farms support agricultural farming, dairy farming, poultry farming, or a combination of both. Under it, artificial structures or platforms are created to grow crops, and water is supplied directly from the source. These farms run on renewable energy that is generated using water, as a result, the floating farms are more sustainable and environmentally friendly.

Market Insights & Analysis

The Global Floating Farm market is projected to grow at a CAGR of around 14.27% during the forecast period, i.e., 2023-28. The key factor attributing to its growth is the rising inclination of governments of several countries towards sustainable agricultural practices. To meet the global sustainable development goals that countries across the globe have adopted & also to ensure food availability to all. The population worldwide is constantly growing & considering this, the demand for food grains & food products is expected to rise in the coming years. In such a scenario, the adoption of these farms is presumed to grow, as conventional farming is inadequate to further upscale the food grain production capacity & meet the growing demand.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 14.27%
Regions Covered Americas: The US, Canada, Mexico, Rest of Americas
Europe: The UK, Germany, The Netherland, France, Spain, Rest of Europe
Asia-Pacific: China India Bangladesh Vietnam Rest of Asia Pacific
Middle East & Africa: The UAE, Saudi Arabia, Qatar, Egypt, Rest of Middle East & Africa
Key Companies Profiled AgriSea, Singapore Aquaculture Technologies, Lingalaks AS, SalMar ASA, Saudi Basic Industries Corporation, N-ARK Co. Ltd., Ocean Arks Tech, AI Qamra holding, Bangladesh Agricultural Research Institute (BARI), Others
Unit Denominations USD Million/Billion

 

Apart from it, economic viability & environmental protection are the other major reasons, which is why the concept of these farms is being encouraged. As per US Environmental Protection Agency, agriculture alone contributes to nearly 11% of global greenhouse emissions. Farming, cattle rearing, and livestock management release harmful gases such as methane & nitrous oxides. To prevent the release of such toxic gases & decarbonize the agricultural sector, governments across the globe are encouraging the practice of sustainable agriculture, such as vertical farming, aquaculture floating farm, etc. Owing to this, the adoption of these farms is anticipated to grow in the coming years, therefore aiding in enhancing the Global Floating Farm market size.

In addition to environmental protection, the limited availability of natural resources like water & land is also a crucial factor supporting the adoption of sustainable agriculture on a wide scale. Conventional agriculture leads to soil degradation, causes infertility of the land, and directs to water salinization, thereby depleting the limited natural resources that the environment has. Hence, to prevent the degradation of the limited natural resources, the adoption of these farms is being encouraged as the floating farm structure is created over the water body, thereby saving the land & the water. Therefore, owing to these benefits, the adoption of these farms is expected to witness a surge, hence positively impacting the Global Solar Floating market during 2023-2028.


Global Floating Farm Market Research Report: Forecast (2023-2028)

Market Dynamics

Significant Driver: Increasing Demand for Sustainable Food Production

The soaring global population is leading to escalating the demand for sustainable food around the globe. According to the World Bank, the population is expected to reach around 9.7 billion by 2050, which positively generates the demand for food. Thus, sustainable food production helps to meet this demand while reducing the environmental impact of agriculture. In addition, the rising effect of agriculture on the environment, including soil degradation, water pollution, and greenhouse gas emissions, has become a primary concern. Sustainable farming practices, such as aquaponics & vertical farming, can help to mitigate these impacts.

Henceforth, the surging demand for sustainable food production across the globe is driving the growth of the floating farms market as farmers seek out new & innovative ways to produce food that is environmentally friendly, healthy, and economically viable. Furthermore, in the coming years, several other countries are expected to adopt these farm practices for the purpose of vegetable & fruit plantations, growing seafood, and many other purposes, which is presumed to have a positive impact on the market during 2023-28.

Possible Restraint: Limited Production Capacity to Hinder the Growth

The floating farm structure or the platform on which the entire setup is created has limited space. The structure is not as large as conventional farming land, which can support the production of agricultural produce on a wide scale. Due to this, the production capacity of these farms is limited, and hence they are unviable to support commercial agriculture.

These farms' structures are suitable for promoting self-sustainable farming or small-scale farming. The limited production capacity is the major challenge due to which the commercial farmers would restrict to transition to these farms instead of traditional land-based farming. Thus, emerging as a major challenge impeding the growth of the market in the following years. 

Growth Opportunity: Ability to Cultivate Specialized Crops to lead to Greater Adoption of Floating Farms

The concept of floating farms allows the producers to grow a variety of crops that could not be grown on natural land. As these farm platforms are created artificially, they can easily be modified as per the requirement of the plant or crop without hampering the natural composition of the land, thereby allowing farmers to grow different varieties of crops & fruits on the same farm.

These farms enable the growth of various types of sea foods such as seaweeds, shrimp, finfish, etc., as these farms hold the potential to grow regular water-intensive crops such as rice, pulses, and others, in addition to specialized crops like seaweeds. The capability to grow multiple crops is anticipated to enhance the adoption of floating farm practices among farmers, as they can generate more revenue by diversifying crop production. Thus, the ability to grow conventional & specialized crops on the same farm is emerging as an opportunity for market growth during 2023-28.

Key Trend: Technological Advancements to Improve the Overall Efficiency of the Farms

The advancement in technology, including the usage of data, advanced analytics, etc., has entitled the operation of sensors & monitoring equipment in the floating farm setup. The utilization of technology has enabled efficiency in framing practices & improvements in overall productivity levels. For instance, the usage of water sensors in these farms’ watering system allows the farmer to monitor the salinity of the water, its ph level, and dissolved oxygen levels. The information enables the farmer to use fertilizers & pesticides following the requirement, which, in turn, leads to improved productivity levels.

Further, the farms enabled with such sensors & monitoring devices are becoming increasingly important in modern floating farm practices. It allows the farmers to make informed decisions, optimize their operational activities to reduce risk & improve the overall productivity levels of the farms. This, in turn, is anticipated to lead to the higher adoption of these farms by farmers across the globe, therefore positively impacting the market during the forthcoming period.  

Market Segmentation

Based on the Farm Type:

  • Aquaculture Farm
  • Agriculture Farm

Aquaculture farming is anticipated to hold the dominant share in the Global Floating Farm market, as it has the potential to provide a reliable source of protein & other essential nutrients, particularly in areas where traditional farming practices are limited. Thus, these farms help to expand the reach of aquaculture farming, providing a more sustainable & accessible source of food for growing populations. Moreover, these farms provide additional space for aquaculture farming, allowing for increased production capacity without needing additional land.

Further, it helps to meet the growing demand for seafood products while reducing pressure on wild fish populations. Hence, to reduce the environmental impact, these farms are designed to operate using renewable energy sources, which is expected to increase the requirement for them during 2023-28.

Based on Equipment Type:

  • Cages
  • Harvesting Equipment
  • Monitoring System
  • Tanks
  • Others (Control System, Tarpaulins, etc.)

Of them all, the Harvesting Equipment is projected to lead the Global Floating Farm market, as this equipment helps to ensure that crops are harvested at the optimal time, leading to improved quality & longer shelf life of fruits, vegetables, etc. Proper harvesting techniques can help to reduce waste by ensuring that only mature & healthy crops are harvested, reducing the need for additional sorting & processing. Thus, these farms allow the producers to grow a variety of crops that could not be grown on natural land, as they are artificially created & can easily be modified as per the requirement of the plant or crop without hampering the natural composition of the land.

Regional Projection

Geographically, the market expands across:

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

Of all the regions across the globe, Asia-Pacific is anticipated to witness greater adoption of floating farm practices because of the limited availability of land & the greater demand for food products due to the high population density in the region. Countries such as India, Bangladesh, and China, are constantly working on innovating their agricultural practices to adopt sustainable farming practices & ensure food security for all. In addition to it, these countries already have an extensive presence of water bodies such as rivers, lakes, and ponds, as well as agricultural dominant economies, hence creating a fertile ground for the growth of these farms in the Asia-Pacific region in the forthcoming years.  

Recent Developments by the Leading Companies

2021: Floating Farm, a global company, announced the development of its 2nd floating farm. The farm would support dairy & vegetable farming. The aim is to improve productivity & bring innovation to food production practices keeping in mind its sustainability.

Gain a Competitive Edge with Our Global Floating Farm Market Report

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  2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  3. Global Floating Farm Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. Floating Farm Market is expected to grow at a CAGR of 14.27% during 2023-28.

   A. The increasing demand for sustainable food production is expected to drive the Floating Farm Market during 2023-28.

   A. The top players in the Algeria Drinking Milk Products market are AgriSea, Singapore Aquaculture Technologies, Lingalaks AS, SalMar ASA, Saudi Basic Industries Corporation, N-ARK Co. LTD. Ocean Arks Tech, AL Qamra Holding, Bangladesh Agricultural Research Institute (BARI), and Others.

   A. Within the farm type segment, aquaculture farms hold the dominant share in the Floating Farm Market during 2023-28.

   A. Technological advancements to improve the overall efficiency of the farms is the key trend shaping the growth of the Floating Farm Market during 2023-28.

   A. The ability to cultivate specialized crops to create lucrative opportunity for the Floating Farm Market through 2028.

   A. The limited production capacity to hinder the growth of the Floating Farm Market during 2023-28.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Global Sustainable Agriculture Industry Outlook, 2023
    1. Current Scenario
    2. Government Initiatives, By Top Countries
    3. Technological Advancement
    4. Others
  5. Global Floating Farm Market Trends & Insights
  6. Global Floating Farm Market Dynamics
    1. Growth Drivers
    2. Challenges
  7. Global Floating Farm Market Hotspots & Opportunities
  8. Global Floating Farm Supply Chain Analysis
  9. Global Floating Farm Market Policies & Regulations
  10. Global Floating Farm Market Outlook, 2020-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Farm Type
        1. Aquaculture Farm
        2. Agriculture Farm
      2. By Product Type
        1. Fruits & Vegetables
        2. Fish
        3. Others (Grains, etc.)
      3. By Equipment Type
        1. Cages
        2. Harvesting Equipment
        3. Monitoring System
        4. Tanks
        5. Others (Control System, Tarpaulins, etc.)
      4. By Technology
        1. Hydroponics
        2. Aquaponics
        3. Vertical Farming
      5. By Region
        1. Americas
        2. Europe
        3. The Middle East & Africa
        4. Asia-Pacific
      6. By Competitors
        1. Competition Characteristics
        2. Market Share & Analysis
  11. Americas Floating Farm Market Outlook, 2020-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Farm Type
      2. By Product Type
      3. By Equipment Type
      4. By Technology
      5. By Country
        1. The US
        2. Canada
        3. Mexico
        4. Rest of Americas
    3. The US Floating Farm Market Outlook, 2020-2028F
      1. Market Size & Analysis
      2. By Revenues (USD Million)
      3. Market Share & Analysis
        1. By Farm Type
        2. By Product Type
    4. Canada Floating Farm Market Outlook, 2020-2028F
      1. Market Size & Analysis
      2. By Revenues (USD Million)
      3. Market Share & Analysis
        1. By Farm Type
        2. By Product Type
    5. Mexico Floating Farm Market Outlook, 2020-2028F
      1. Market Size & Analysis
      2. By Revenues (USD Million)
      3. Market Share & Analysis
        1. By Farm Type
        2. By Product Type
  12. Europe Floating Farm Market Outlook, 2020-2028F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
    2. Market Share & Analysis
      1. By Farm Type
      2. By Product Type
      3. By Equipment Type
      4. By Technology
      5. By Country
        1. The UK
        2. Germany
        3. The Netherland
        4. France
        5. Spain
        6. Rest of Europe
    3. The UK Floating Farm Market Outlook, 2020-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Farm Type
        2. By Product Type
    4. Germany Floating Farm Market Outlook, 2020-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Farm Type
        2. By Product Type
    5. The Netherlands Floating Farm Market Outlook, 2020-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Farm Type
        2. By Product Type
    6. France Floating Farm Market Outlook, 2020-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Farm Type
        2. By Product Type
    7. Spain Floating Farm Market Outlook, 2020-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Farm Type
        2. By Product Type
  13. The Middle East & Africa Floating Farm Market Outlook, 2020-2028F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
    2. Market Share & Analysis
      1. By Farm Type
      2. By Product Type
      3. By Equipment Type
      4. By Technology
      5. By Country
        1. The UAE
        2. Saudi Arabia
        3. Qatar
        4. Egypt
        5. Rest of Middle East & Africa
    3. The UAE Floating Farm Market Outlook, 2020-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Farm Type
        2. By Product Type
    4. Saudi Arabia Floating Farm Market Outlook, 2020-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Farm Type
        2. By Product Type
    5. Qatar Floating Farm Market Outlook, 2020-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Farm Type
        2. By Product Type
  14. Asia-Pacific Floating Farm Market Outlook, 2020-2028F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
    2. Market Share & Analysis
      1. By Farm Type
      2. By Product Type
      3. By Equipment Type
      4. By Technology
      5. By Country
        1. China
        2. India
        3. Bangladesh
        4. Vietnam
        5. Rest of Asia Pacific
    3. China Floating Farm Market Outlook, 2020-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Farm Type
        2. By Product Type
    4. India Floating Farm Market Outlook, 2020-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Farm Type
        2. By Product Type
    5. Bangladesh Floating Farm Market Outlook, 2020-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Farm Type
        2. By Product Type
    6. Vietnam Floating Farm Market Outlook, 2020-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Farm Type
        2. By Product Type
  15. Global Floating Farm Market Key Strategic Imperatives for Success & Growth
  16. Competition Outlook
    1. Competition Matrix
      1. Target Markets
      2. Research & Development
      3. Collaborations & Strategic Alliances
      4. Key Business Expansion Initiatives
      5. Business Restructuring- Mergers, Acquisitions, JVs
      6. Strategic Initiatives
    2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. AgriSea
      2. Singapore Aquaculture Technologies
      3. Lingalaks AS
      4. SalMar ASA
      5. Saudi Basic Industries Corporation
      6. N-ARK Co. Ltd.
      7. Ocean Arks Tech
      8. AI Qamra holding
      9. Bangladesh Agricultural Research Institute (BARI)
      10. Others
  17. Disclaimer


Floating Farm Market - Segmentation Slide