Floating Farms Market to Grow at CAGR of 13.7% through 2033; Environmentally Friendly Farming at Sea to Propel Growth

Floating farms, particularly those near cities, could help satisfy this demand by providing fresh, locally grown vegetables. Collaboration between companies, governments, and educational institutions could speed up the development and deployment of floating farms. These partnerships may facilitate research initiatives, the exchange of knowledge, and the growth of prosperous projects.

Newark, Feb. 29, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 4.7 billion in 2023 floating farms market will reach USD 14.9 billion by 2033. Floating farms are constructed in bodies of water, enabling the raising of livestock and food crops in metropolitan settings. Over the course of the projected period, this is anticipated to considerably boost revenue growth. Furthermore, a study carried out by the United Nations (UN) predicts that population dynamics would mostly focus on South Asia and Africa. Technological developments in farming are anticipated to promote increased revenue for the floating farms industry, as ongoing changes in population demographics are projected to exacerbate the prevalent hunger and malnutrition.

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Key Insight of the Floating Farms Market

Europe is anticipated to expand at the fastest CAGR of 13.8% over the projection period.

Europe is expected to grow at the fastest CAGR of 13.8% over the forecast period. The main force behind aquaculture’s growth in Europe is the increasing need for seafood as a healthful supper. Seafood and fish are superior sources of protein. Growing dietary preferences for high-protein foods among young people are expected to fuel the growth of the European floating farm industry. Young people’s demand for protein is growing as health and fitness fads become more and more fashionable. Additionally, protein aids in tissue repair. As such, seafood is an excellent way to fulfill the body’s protein needs.

In the floating farm market, the poultry farms segment is anticipated to expand at the highest CAGR of 11.2% over the projection period.

The poultry farm segment is anticipated to expand at the highest CAGR of 10.6% over the projection period. Traditional agriculture faces the problem of limited land availability, which is addressed with floating poultry farms. These farms offer an alternate method of producing chicken in populated regions with limited acreage. To reduce their negative effects on the environment, floating chicken farms may also be built with ecology in mind and eco-friendly design elements. This can involve integrating energy from renewable sources, managing waste, and using resources efficiently.

In the floating farms market, the Vegetable segment is anticipated to expand at the highest CAGR of 12.2% over the projection period.

The Vegetable segment is anticipated to expand at the highest CAGR of 12.2% over the projection period. The vegetable is expected to lead the industry during the projected period and create the biggest and fastest revenue. But the nature of the market is what accounts for its development and contribution. Since floating farms are immune to sudden changes in the weather and the speed at which the climate is changing, the dense population expects and demands high-quality vegetables.

In the floating farms market, the shipping-based segment is anticipated to expand at the highest CAGR of 11.8% over the projection period.

The shipping-based segment is anticipated to expand at the highest CAGR of 11.8% over the projection period. Agricultural products could be distributed globally by shipping-based floating farms. These farms might reach markets all over the world by using waterways, thereby promoting global trade and the security of food. Furthermore, farms that are floating atop transport boats may be able to adjust to new environments, enabling farmers to relocate their operations to regions with better weather or shifting consumer preferences.

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Market Dynamics

Driver

Resource usage can be optimized in the design of floating farms. Closed-loop systems can reduce waste, and floating farm systems can effectively use water, a resource that is scarce in many areas. Furthermore, cutting-edge agricultural techniques including aquaponics, hydroponics, and other sophisticated production techniques are frequently used in floating farms. These procedures may result in higher production and efficiency.

Opportunity

Opportunities for growing aquaculture operations are presented by floating farms. The increased demand for seafood can be attributed to the controlled and sustainable growth of fish or other aquatic species on floating platforms. Additionally, the distinct characteristics of floating farms call for specific tools and technology. Opportunities exist for the creation of innovative equipment, technology, and systems designed to meet the unique requirements of aquaculture and floating agriculture.

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Some of the major players operating in the floating farms market are:

• Qingdao Conson Development Group Co Ltd
• SalMar ASA
• Lingalaks AS
• Saudi Basic Industries Corporation (SABIC)
• Ocean Arks Tech.
• Al Qamra holding
• Ocean Era, Inc.
• Cellucor
• Floating Farms
• AgriSea
• Singapore Aquaculture Technologies
• Bangladesh Agricultural Research Institute (BARI)

Key Segments cover in the market:

By Livestock

• Cow shelters
• Poultry farms
• Fishing market
• Others

By Consumable product

• Dairy products
• Vegetable
• Fruit
• Grain
• Others

By Building structure

• Building
• Shipping

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About the report:

The market is analyzed based on value (USD Trillion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.

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