Global Vertical Farming Market Overview
The global Vertical Farming Market was valued at USD 3.67 billion in 2023 and is expected to reach USD 12.14 billion by the year 2032, at a CAGR of 14.23%.
The vertical farming market is rapidly gaining traction as an innovative solution to meet global food demands while addressing environmental sustainability. Vertical farming involves growing crops in vertically stacked layers, often using controlled-environment agriculture (CEA) technology to optimize growth conditions. This method minimizes land usage and reduces water consumption by up to 90% compared to traditional farming. Key components include hydroponics, aeroponics, and aquaponics systems, combined with advanced technologies like artificial intelligence (AI), Internet of Things (IoT), and LED grow lights.
- A significant driver of the vertical farming market is the growing global population, coupled with urbanization, which increases the demand for fresh produce in urban areas. Additionally, concerns over food security, climate change, and arable land depletion push governments and private enterprises to invest in vertical farming solutions. These systems are particularly beneficial for producing leafy greens, herbs, and small fruits, as they can be grown year-round in a controlled setting without pesticides or herbicides.
- North America currently leads the market due to the early adoption of vertical farming technologies, followed by Europe and the Asia-Pacific region. Countries like Japan, China, and Singapore are heavily investing in vertical farms to enhance domestic food production. However, high initial setup costs and energy requirements for lighting and climate control remain significant challenges.
- Future market growth is expected to be fueled by advancements in automation and AI technologies, which will reduce operational costs and enhance scalability. Companies are also exploring renewable energy sources to make operations more sustainable. As consumer demand for organic and locally grown produce rises, vertical farming is poised to become a transformative force in modern agriculture, offering a sustainable and efficient alternative to traditional farming practices.
Market Dynamics and Factors for the Vertical Farming Market:
Drivers:
Growing Demand and Necessity for the Innovative Farming
- The increased demand for a range of foods and crops, as well as the growing worldwide population, necessitates a focus on alternative agricultural settings as a supplement to traditional cultivation. The vertical farming business is growing because of the decreasing quantity of arable land throughout the world and the growing need for food security. Growing climate changes, random metrological and geological phenomena such as tornadoes, hailstorms, floods, and droughts are all contributing to the continual loss of agriculture. Vertical farming techniques reduce reliance on current climatic conditions and maximize the utilization of fertile land. The technology is rapidly being used around the world to protect crops from natural disasters and other unpredictably changing conditions. Food security issues like usage, stability, accessibility, and availability can be addressed with the vertical farming method. With groundwater levels depleting and climatic change having a significant impact on agricultural activity, there is an increasing emphasis on alternative farming practices. Vertical farming is gaining significance over traditional agriculture because of population increase and the ever-widening imbalance between demand and availability of food. Vertical farming is a solution to the problem since it allows crops to be produced in small spaces and is not dependent on the environment or climatic conditions, assuring a constant supply of food. Vertical farming has grown as a profitable agricultural technology in recent years, owing to several advantages such as reduced pesticide and water usage, low reliance on soil fertility, and human labor. Consumer demand for clean, organic food devoid of pesticides and genetically modified organisms is also driving the market. Consumers are seeking healthier options as the frequency of heart disease, obesity, and other life-threatening conditions rise, creating chances for growth.
- As population populations grow and urban living becomes more popular, the worldwide vertical farming business has been steadily growing in recent years. According to Statista, the vertical farming business was worth 4.4 billion dollars in 2019, but that figure is predicted to rise to 15.7 billion dollars by 2025. Vertical farming's attraction in major cities stems from its ability to utilize vertical space while avoiding the need for extra land and construction activity. Vertical farming has been discovered to produce 240 times greater agricultural production with 99 percent less land, 95 percent less water, and zero chemicals. This means that, despite higher running expenses, vertical farms produce more crops, resulting in higher profits.
Restraints:
Lack of Technology and Limited Crop Type
- Although many vertical farming technologies are still in their infancy, the market growth could be negative. Vertical farming should be able to produce cheaper crops with a long shelf life shortly, thanks to cutting-edge technology like Artificial Intelligence (AI) and Machine Learning (ML). This may not be economically feasible at this time, given current technology. Although a vertical farm can be tailored to accommodate the growth of any plant species, only a small number of them can be economically grown.
Opportunities:
AI For Vertical Farming: How Plenty Is Using Robotics to Revolutionize Urban Agriculture
- According to Algorithmia's 2021 Enterprise Trends in Machine Learning report, more than half of the organizations questioned aim to rise spending on AI and ML in 2021, with 20% having already boosted their budgets. This indicates that a significant portion of recent business spending will go into the creation of AI-based technologies and tools in a variety of industries. One of the industries that are making use of AI's potential in farming and agriculture. Modern farmers and important agricultural sector stakeholders can track and control plant development using AI-powered tools and robotics, from soil, water, and light exposure to crop yield data. For instance, as part of its efforts to reinvent farming, a San Francisco-based agricultural technology business called Plenty has created an advanced climate-controlled vertical farming structure. These vertical farms, which are outfitted with AI-powered robots that handle watering, temperature, and lighting, can produce the equivalent of 720 acres of fruit and vegetable crops in just 2 acres of farmland. The facility also uses LED screens to simulate sunshine, allowing for more optimal development conditions around the clock.
Market Segmentation
- By component, the lighting segment is expected to dominate the vertical farming market over the forecast period. LED systems are, in many respects, the best solution for indoor vertical growers. LED lighting systems can save anywhere from 40% to 70% more energy than systems that employ high-pressure sodium (HPS) or metal halide (MH) lamps, according to research (two of the most common lighting types used in indoor farming). LEDs also have a far longer lifespan than other lighting solutions. A typical LED bulb has a useable life of roughly 50,000 hours, which corresponds to nearly six years of continuous usage. Aside from these two major benefits, there are several other reasons why LEDs and vertical farming is a good match. Many vertical farming facilities develop crops using a series of stacked grow trays, often as many as a dozen layers high, to make the most of limited space. Thrive lights must be spread between each crop level for these crops to grow efficiently.
- By growth mechanisms, the hydroponics segment is anticipated to hold the maximum vertical farming market share during the forecast period. For its inexpensive installation costs and ease of use, hydroponics is a popular growing method. It is a method of growing plants without soil in which a mineral solution is put around the plant roots to replace the soil. Furthermore, hydroponics technology eliminates the potential of disease transmission from soil organisms. The demand for hydroponics is projected to rise as customers become more aware of the dangers of pesticides. Because the nutrients are controlled better in hydroponically grown plants, they produce a higher yield than equivalent plants cultivated on the soil. Plant roots are submerged in a chemical solution and tested regularly to ensure that the proper chemical composition for growth is maintained.
- By structure, the shipping container segment is expected to register the significant growth of the market over the forecast period due to the benefits it provides which allows the crops to grow without the limitation of geographic location. Benefits include portability and a reduction in the amount of space needed to cultivate the crops. Vertical farming systems are increasingly being housed in recycled shipping containers. The shipping containers are commonly outfitted with LED lighting, vertically stacked hydroponics, sophisticated climate controls, and monitoring sensors to act as standardized, modular chambers for growing a variety of plants. Furthermore, farms can save even more room by stacking shipping containers, resulting in a larger yield per unit area.
- By crop type, the fruits and vegetable segment is expected to dominate the vertical farming market during the forecast period. Tomatoes, strawberries, lettuce, bell and chili peppers, cucumber, and leafy greens are among the most regularly grown vegetables, herbs, and fruits in various locales. One of the most significant considerations when growing any crop in vertical farming is to determine its economic feasibility, which ensures that the company will profit handsomely from its cultivation.
Players Covered in Vertical Farming market are :
- FarmVisionAI (US)
- AmHydro (US)
- Mirai Co. Ltd (Japan)
- Osram Licht AG (Germany)
- Freight Farms (US)
- AeroFarms LLC (US)
- Bright Farms (US)
- Sky Greens (Singapore)
- Spread Co. Ltd.; (Japan)
- Plenty Unlimited Inc. (the US)
- Future Crops (Netherlands)
- Vertical Farm Systems (Australia)
- Valoya (Finland)
- Everlight Electronics Co. Ltd. (Taiwan)
- Heliospectra AB (Sweden)
- Intelligent Growth Solutions (Scotland)
- Green Sense Farms (US)
- Agrilution Systems GmbH (Germany)
- Vertical Future Ltd (UK)
- Urban Crop solutions (Belgium)
- Bowery Farming (US)
- Agricool (France)
- Swegreen (Sweden)
- Sananbio (US)
- Growpod Solutions (US)
- Infarm (Germany)
- Altius Farms (US)
- Signify Holding (Netherlands)
- 4D BIOS INC (US)
- General Hydroponics Inc. (US) and other major players.
Regional Analysis for the Vertical Farming Market:
- North America region is expected to dominate the vertical farming market over the forecast period. Growing worries about food security and nutrition are projected to provide the business with a slew of new chances to thrive. The US is expected to contribute a large amount to facilitating the ecosystem for future foods. The availability of freshly picked veggies across retail outlets is projected to rise in the country as more consumer insights toward "fresh-from-farm-to-table" develop (which is also the pioneer in adopting this concept). The emergence of urban population dwellings in cities like New York, Chicago, and Milwaukee has propelled the environment for vertical farming with activities like revamping derailed vacant warehouses, derelict buildings, and high rises, which has increased the production of fresh grown foods overall. New Aeroponics systems are being built in several promising sections of the country. AeroFarms, for example, is constructing a 69,000-square-foot farm near Newark that will produce 2.0 million pounds of leafy greens per year. The vertical farming concept has made inroads into the expanding cannabis sector in recent years, as corporations are incorporating various revenue streams to boost profits.
- Due to the growing expansion of genetically modified crop technologies, Europe is expected to see significant growth throughout the forecast period. Furthermore, the growing use of nanotechnology and robots in agriculture is increasing regional market demand. Nanotechnology aids in the improvement of food packaging as well as disease and insect control. The European Environment Agency has undertaken several projects to construct vertical farms to address the difficulties of population increase and climate change, as well as to produce food in an environmentally responsible manner. As a result, there is potential for the market in the region to flourish.
- Asia Pacific region is expected to witness remarkable growth in upcoming years owing to raising the consciousness among the farmers and people about the significance of alternative farming, due to less accessibility of fertile agricultural land and growing population in the region is the key factor expected to hasten the demand.
Key Industry Developments in the Vertical Farming Market:
- In March 2024, Vertical Future (VF) partnered with the World Green Economy Organisation (WGEO) to advance shared sustainability objectives. VF's role as a technology-driven advocate for resource-efficient crop production aligns with WGEO's mission to promote a green economy as the optimal path to global prosperity and safety.
- In November 2023, Urban Crop Solutions introduced modernized vertical farming technology, Research Indoor Farm Solutions, at BASF's Limburgerhof facility in Germany. This facility would play a crucial role in fast-tracking several sustainable agricultural plans. The partnership aims to design more operative and environmentally sustainable agricultural solutions.
COVID-19 Impact on the Vertical Farming Market:
- All types of farming systems were influenced, more or less severely, by the various measures implemented by governments, such as reduced mobility, closure of public and private venues, and border restrictions, ranging from corporate agricultural production systems to small and medium scale entrepreneurs and smallholder subsistence farm households. To deal with the COVID-19 pandemic, all types of farming systems implemented a series of mechanisms, including the development of alternative value chains, food and agricultural product delivery systems, and the exponential use of digital means to communicate and maintain the viability of the various agricultural systems. Farmers' collective action and organization also proved to be an essential coping mechanism for certain farmers, allowing them to get inputs and provide outputs despite limited mobility, price fluctuation, and general uncertainty. Supply chain operations and logistics-related services were disrupted in almost every industry throughout the world. Vertical farming's growth has also been hampered by limited consumer and corporate spending, lockdown measures, and supply chain interruptions. The market is experiencing a downturn as a result of the Covid-19 epidemic, which has resulted in the closure of many SMEs, logistical disruptions, lockdowns, and other issues. The pandemic has forced governments all around the world to redirect their attention and resources to the healthcare sector. In addition, end-user demand decreased dramatically in 2020.
Global Vertical Farming Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 3.67 Bn. |
Forecast Period 2024-32 CAGR: |
14.23% |
Market Size in 2032: |
USD 12.14 Bn. |
Segments Covered: |
By Type |
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By Growth Mechanism |
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By Structure |
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By Crop Type |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
ā1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
ā3.1 Market Dynamics
āā3.1.1 Drivers
āā3.1.2 Restraints
āā3.1.3 Opportunities
āā3.1.4 Challenges
ā3.2 Market Trend Analysis
ā3.3 PESTLE Analysis
ā3.4 Porter's Five Forces Analysis
ā3.5 Industry Value Chain Analysis
ā3.6 Ecosystem
ā3.7 Regulatory Landscape
ā3.8 Price Trend Analysis
ā3.9 Patent Analysis
ā3.10 Technology Evolution
ā3.11 Investment Pockets
ā3.12 Import-Export Analysis
Chapter 4: Vertical Farming Market by Type
ā4.1 Vertical Farming Market Snapshot and Growth Engine
ā4.2 Vertical Farming Market Overview
ā4.3 Lighting
āā4.3.1 Introduction and Market Overview
āā4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
āā4.3.3 Key Market Trends, Growth Factors and Opportunities
āā4.3.4 Lighting: Geographic Segmentation Analysis
ā4.4 Hydroponic Components
āā4.4.1 Introduction and Market Overview
āā4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
āā4.4.3 Key Market Trends, Growth Factors and Opportunities
āā4.4.4 Hydroponic Components: Geographic Segmentation Analysis
ā4.5 Climate Control
āā4.5.1 Introduction and Market Overview
āā4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
āā4.5.3 Key Market Trends, Growth Factors and Opportunities
āā4.5.4 Climate Control: Geographic Segmentation Analysis
ā4.6 Sensors
āā4.6.1 Introduction and Market Overview
āā4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
āā4.6.3 Key Market Trends, Growth Factors and Opportunities
āā4.6.4 Sensors: Geographic Segmentation Analysis
ā4.7 Software & Services
āā4.7.1 Introduction and Market Overview
āā4.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
āā4.7.3 Key Market Trends, Growth Factors and Opportunities
āā4.7.4 Software & Services: Geographic Segmentation Analysis
Chapter 5: Vertical Farming Market by Growth Mechanism
ā5.1 Vertical Farming Market Snapshot and Growth Engine
ā5.2 Vertical Farming Market Overview
ā5.3 Hydroponics
āā5.3.1 Introduction and Market Overview
āā5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
āā5.3.3 Key Market Trends, Growth Factors and Opportunities
āā5.3.4 Hydroponics: Geographic Segmentation Analysis
ā5.4 Aeroponics
āā5.4.1 Introduction and Market Overview
āā5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
āā5.4.3 Key Market Trends, Growth Factors and Opportunities
āā5.4.4 Aeroponics: Geographic Segmentation Analysis
ā5.5 Aquaponics
āā5.5.1 Introduction and Market Overview
āā5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
āā5.5.3 Key Market Trends, Growth Factors and Opportunities
āā5.5.4 Aquaponics: Geographic Segmentation Analysis
Chapter 6: Vertical Farming Market by Structure
ā6.1 Vertical Farming Market Snapshot and Growth Engine
ā6.2 Vertical Farming Market Overview
ā6.3 Shipping Container
āā6.3.1 Introduction and Market Overview
āā6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
āā6.3.3 Key Market Trends, Growth Factors and Opportunities
āā6.3.4 Shipping Container: Geographic Segmentation Analysis
ā6.4 Building-based
āā6.4.1 Introduction and Market Overview
āā6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
āā6.4.3 Key Market Trends, Growth Factors and Opportunities
āā6.4.4 Building-based: Geographic Segmentation Analysis
Chapter 7: Vertical Farming Market by Crop type
ā7.1 Vertical Farming Market Snapshot and Growth Engine
ā7.2 Vertical Farming Market Overview
ā7.3 Fruits & Vegetables
āā7.3.1 Introduction and Market Overview
āā7.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
āā7.3.3 Key Market Trends, Growth Factors and Opportunities
āā7.3.4 Fruits & Vegetables: Geographic Segmentation Analysis
ā7.4 Other Crop Types
āā7.4.1 Introduction and Market Overview
āā7.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
āā7.4.3 Key Market Trends, Growth Factors and Opportunities
āā7.4.4 Other Crop Types: Geographic Segmentation Analysis
Chapter 8: Company Profiles and Competitive Analysis
ā8.1 Competitive Landscape
āā8.1.1 Competitive Benchmarking
āā8.1.2 Vertical Farming Market Share by Manufacturer (2023)
āā8.1.3 Industry BCG Matrix
āā8.1.4 Heat Map Analysis
āā8.1.5 Mergers and Acquisitions
āā
ā8.2 FARMVISIONAI (US)
āā8.2.1 Company Overview
āā8.2.2 Key Executives
āā8.2.3 Company Snapshot
āā8.2.4 Role of the Company in the Market
āā8.2.5 Sustainability and Social Responsibility
āā8.2.6 Operating Business Segments
āā8.2.7 Product Portfolio
āā8.2.8 Business Performance
āā8.2.9 Key Strategic Moves and Recent Developments
āā8.2.10 SWOT Analysis
ā8.3 AMHYDRO (US)
ā8.4 MIRAI CO. LTD (JAPAN)
ā8.5 OSRAM LICHT AG (GERMANY)
ā8.6 FREIGHT FARMS (US)
ā8.7 AEROFARMS LLC (US)
ā8.8 BRIGHT FARMS (US)
ā8.9 SKY GREENS (SINGAPORE)
ā8.10 SPREAD CO. LTD. (JAPAN)
ā8.11 PLENTY UNLIMITED INC. (US)
ā8.12 FUTURE CROPS (NETHERLANDS)
ā8.13 VERTICAL FARM SYSTEMS (AUSTRALIA)
ā8.14 VALOYA (FINLAND)
ā8.15 EVERLIGHT ELECTRONICS CO. LTD. (TAIWAN)
ā8.16 HELIOSPECTRA AB (SWEDEN)
ā8.17 INTELLIGENT GROWTH SOLUTIONS (SCOTLAND)
ā8.18 GREEN SENSE FARMS (US)
ā8.19 AGRILUTION SYSTEMS GMBH (GERMANY)
ā8.20 VERTICAL FUTURE LTD (UK)
ā8.21 URBAN CROP SOLUTIONS (BELGIUM)
ā8.22 BOWERY FARMING (US)
ā8.23 AGRICOOL (FRANCE)
ā8.24 SWEGREEN (SWEDEN)
ā8.25 SANANBIO (US)
ā8.26 GROWPOD SOLUTIONS (US)
ā8.27 INFARM (GERMANY)
ā8.28 ALTIUS FARMS (US)
ā8.29 SIGNIFY HOLDING (NETHERLANDS)
ā8.30 4D BIOS INC (US)
ā8.31 GENERAL HYDROPONICS INC. (US)
ā8.32 AND OTHER MAJOR PLAYERS.
Chapter 9: Global Vertical Farming Market By Region
ā9.1 Overview
ā9.2. North America Vertical Farming Market
āā9.2.1 Key Market Trends, Growth Factors and Opportunities
āā9.2.2 Top Key Companies
āā9.2.3 Historic and Forecasted Market Size by Segments
āā9.2.4 Historic and Forecasted Market Size By Type
āā9.2.4.1 Lighting
āā9.2.4.2 Hydroponic Components
āā9.2.4.3 Climate Control
āā9.2.4.4 Sensors
āā9.2.4.5 Software & Services
āā9.2.5 Historic and Forecasted Market Size By Growth Mechanism
āā9.2.5.1 Hydroponics
āā9.2.5.2 Aeroponics
āā9.2.5.3 Aquaponics
āā9.2.6 Historic and Forecasted Market Size By Structure
āā9.2.6.1 Shipping Container
āā9.2.6.2 Building-based
āā9.2.7 Historic and Forecasted Market Size By Crop type
āā9.2.7.1 Fruits & Vegetables
āā9.2.7.2 Other Crop Types
āā9.2.8 Historic and Forecast Market Size by Country
āā9.2.8.1 US
āā9.2.8.2 Canada
āā9.2.8.3 Mexico
ā9.3. Eastern Europe Vertical Farming Market
āā9.3.1 Key Market Trends, Growth Factors and Opportunities
āā9.3.2 Top Key Companies
āā9.3.3 Historic and Forecasted Market Size by Segments
āā9.3.4 Historic and Forecasted Market Size By Type
āā9.3.4.1 Lighting
āā9.3.4.2 Hydroponic Components
āā9.3.4.3 Climate Control
āā9.3.4.4 Sensors
āā9.3.4.5 Software & Services
āā9.3.5 Historic and Forecasted Market Size By Growth Mechanism
āā9.3.5.1 Hydroponics
āā9.3.5.2 Aeroponics
āā9.3.5.3 Aquaponics
āā9.3.6 Historic and Forecasted Market Size By Structure
āā9.3.6.1 Shipping Container
āā9.3.6.2 Building-based
āā9.3.7 Historic and Forecasted Market Size By Crop type
āā9.3.7.1 Fruits & Vegetables
āā9.3.7.2 Other Crop Types
āā9.3.8 Historic and Forecast Market Size by Country
āā9.3.8.1 Bulgaria
āā9.3.8.2 The Czech Republic
āā9.3.8.3 Hungary
āā9.3.8.4 Poland
āā9.3.8.5 Romania
āā9.3.8.6 Rest of Eastern Europe
ā9.4. Western Europe Vertical Farming Market
āā9.4.1 Key Market Trends, Growth Factors and Opportunities
āā9.4.2 Top Key Companies
āā9.4.3 Historic and Forecasted Market Size by Segments
āā9.4.4 Historic and Forecasted Market Size By Type
āā9.4.4.1 Lighting
āā9.4.4.2 Hydroponic Components
āā9.4.4.3 Climate Control
āā9.4.4.4 Sensors
āā9.4.4.5 Software & Services
āā9.4.5 Historic and Forecasted Market Size By Growth Mechanism
āā9.4.5.1 Hydroponics
āā9.4.5.2 Aeroponics
āā9.4.5.3 Aquaponics
āā9.4.6 Historic and Forecasted Market Size By Structure
āā9.4.6.1 Shipping Container
āā9.4.6.2 Building-based
āā9.4.7 Historic and Forecasted Market Size By Crop type
āā9.4.7.1 Fruits & Vegetables
āā9.4.7.2 Other Crop Types
āā9.4.8 Historic and Forecast Market Size by Country
āā9.4.8.1 Germany
āā9.4.8.2 UK
āā9.4.8.3 France
āā9.4.8.4 Netherlands
āā9.4.8.5 Italy
āā9.4.8.6 Russia
āā9.4.8.7 Spain
āā9.4.8.8 Rest of Western Europe
ā9.5. Asia Pacific Vertical Farming Market
āā9.5.1 Key Market Trends, Growth Factors and Opportunities
āā9.5.2 Top Key Companies
āā9.5.3 Historic and Forecasted Market Size by Segments
āā9.5.4 Historic and Forecasted Market Size By Type
āā9.5.4.1 Lighting
āā9.5.4.2 Hydroponic Components
āā9.5.4.3 Climate Control
āā9.5.4.4 Sensors
āā9.5.4.5 Software & Services
āā9.5.5 Historic and Forecasted Market Size By Growth Mechanism
āā9.5.5.1 Hydroponics
āā9.5.5.2 Aeroponics
āā9.5.5.3 Aquaponics
āā9.5.6 Historic and Forecasted Market Size By Structure
āā9.5.6.1 Shipping Container
āā9.5.6.2 Building-based
āā9.5.7 Historic and Forecasted Market Size By Crop type
āā9.5.7.1 Fruits & Vegetables
āā9.5.7.2 Other Crop Types
āā9.5.8 Historic and Forecast Market Size by Country
āā9.5.8.1 China
āā9.5.8.2 India
āā9.5.8.3 Japan
āā9.5.8.4 South Korea
āā9.5.8.5 Malaysia
āā9.5.8.6 Thailand
āā9.5.8.7 Vietnam
āā9.5.8.8 The Philippines
āā9.5.8.9 Australia
āā9.5.8.10 New Zealand
āā9.5.8.11 Rest of APAC
ā9.6. Middle East & Africa Vertical Farming Market
āā9.6.1 Key Market Trends, Growth Factors and Opportunities
āā9.6.2 Top Key Companies
āā9.6.3 Historic and Forecasted Market Size by Segments
āā9.6.4 Historic and Forecasted Market Size By Type
āā9.6.4.1 Lighting
āā9.6.4.2 Hydroponic Components
āā9.6.4.3 Climate Control
āā9.6.4.4 Sensors
āā9.6.4.5 Software & Services
āā9.6.5 Historic and Forecasted Market Size By Growth Mechanism
āā9.6.5.1 Hydroponics
āā9.6.5.2 Aeroponics
āā9.6.5.3 Aquaponics
āā9.6.6 Historic and Forecasted Market Size By Structure
āā9.6.6.1 Shipping Container
āā9.6.6.2 Building-based
āā9.6.7 Historic and Forecasted Market Size By Crop type
āā9.6.7.1 Fruits & Vegetables
āā9.6.7.2 Other Crop Types
āā9.6.8 Historic and Forecast Market Size by Country
āā9.6.8.1 Turkey
āā9.6.8.2 Bahrain
āā9.6.8.3 Kuwait
āā9.6.8.4 Saudi Arabia
āā9.6.8.5 Qatar
āā9.6.8.6 UAE
āā9.6.8.7 Israel
āā9.6.8.8 South Africa
ā9.7. South America Vertical Farming Market
āā9.7.1 Key Market Trends, Growth Factors and Opportunities
āā9.7.2 Top Key Companies
āā9.7.3 Historic and Forecasted Market Size by Segments
āā9.7.4 Historic and Forecasted Market Size By Type
āā9.7.4.1 Lighting
āā9.7.4.2 Hydroponic Components
āā9.7.4.3 Climate Control
āā9.7.4.4 Sensors
āā9.7.4.5 Software & Services
āā9.7.5 Historic and Forecasted Market Size By Growth Mechanism
āā9.7.5.1 Hydroponics
āā9.7.5.2 Aeroponics
āā9.7.5.3 Aquaponics
āā9.7.6 Historic and Forecasted Market Size By Structure
āā9.7.6.1 Shipping Container
āā9.7.6.2 Building-based
āā9.7.7 Historic and Forecasted Market Size By Crop type
āā9.7.7.1 Fruits & Vegetables
āā9.7.7.2 Other Crop Types
āā9.7.8 Historic and Forecast Market Size by Country
āā9.7.8.1 Brazil
āā9.7.8.2 Argentina
āā9.7.8.3 Rest of SA
Chapter 10 Analyst Viewpoint and Conclusion
10.1 Recommendations and Concluding Analysis
10.2 Potential Market Strategies
Chapter 11 Research Methodology
11.1 Research Process
11.2 Primary Research
11.3 Secondary Research
Global Vertical Farming Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 3.67 Bn. |
Forecast Period 2024-32 CAGR: |
14.23% |
Market Size in 2032: |
USD 12.14 Bn. |
Segments Covered: |
By Type |
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By Growth Mechanism |
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By Structure |
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By Crop Type |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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The forecast period in the Vertical Farming Market research report is 2024-2032.
FarmVisionAI (US), AmHydro (US), Mirai Co. Ltd (Japan), Osram Licht AG (Germany), Freight Farms (US), AeroFarms LLC (US), Bright Farms (US), Sky Greens (Singapore), Spread Co. Ltd.; (Japan), Plenty Unlimited Inc. (the US), Future Crops (Netherlands), Vertical Farm Systems (Australia), Valoya (Finland), Everlight Electronics Co. Ltd. (Taiwan), Heliospectra AB (Sweden), Intelligent Growth Solutions (Scotland), Green Sense Farms (US), Agrilution Systems GmbH (Germany), Vertical Future Ltd (UK), Urban Crop solutions (Belgium), Bowery Farming (US), Agricool (France), Swegreen (Sweden), Sananbio (US), Growpod Solutions (US), Infarm (Germany), Altius Farms (US), Signify Holding (Netherlands), 4D BIOS INC (US), General Hydroponics Inc. (US), and other major players.
The Vertical Farming Market is segmented into Type, Material, Application, and region. By Type, the market is categorized into Lighting, Hydroponic Components, Climate Control, Sensors, and Software & Services. By Growth Mechanism, the market is categorized into Hydroponics, Aeroponics, and Aquaponics. By Structure, the market is categorized into Shipping Container and Building-based. By Crop Type, the market is categorized into Fruits & Vegetables, and Other Crop Types. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Vertical farming is the process of cultivating crops in layers that are piled vertically. It frequently integrates soilless farming techniques such as hydroponics, Aquaponics, and Aeroponics, as well as controlled-environment agriculture, which tries to optimize plant development.
The global Vertical Farming Market was valued at USD 3.67 billion in 2023 and is expected to reach USD 12.14 billion by the year 2032, at a CAGR of 14.23%.