Vertical Farming Market is expected to reach USD 25568.95 Million, with CAGR of 20.4% By 2030 | Report by SNS Insider

Vertical Farming Market Scope & Overview

According to a report by SNS Insider, the Vertical Farming Market had a valuation of USD 5790.3 million in 2022. It is projected to reach USD 25568.95 million by 2030, exhibiting a compound annual growth rate (CAGR) of 20.4% during the forecast period from 2023 to 2030. Vertical Farming Market to Gain Significant Growth owing to Increased Demand for Food Security and Rising Interest in Organic and Sustainable Farming.

Vertical farming is an innovative agricultural technique that involves cultivating crops in vertically stacked layers or structures, often indoors or in urban environments. It utilizes advanced technology, such as artificial lighting, climate control systems, and hydroponics or aeroponics, to create optimal growing conditions for plants. This method allows for year-round cultivation, independent of traditional seasonal constraints.

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Key Players Covered in Vertical Farming market report are:

Agrilution GmbH,
Aerofarm,
Brightfarms Inc.,
Everlight Electronics Co., Ltd.,
Freight Farms,
GrowUp Urban Farms Ltd.,
Green Sense Farms, LLC,
Vertical Farm Systems,
4D BIOS INC.,
HORT AMERICAS,
ILLUMITEX INC.,
KONINKLIJKE PHILIPS N.V.

Market Analysis

The vertical farming market has seen significant growth in recent years and holds promising prospects for the future. Vertical farming is an innovative agricultural technique that involves cultivating crops in vertically stacked layers or vertically inclined surfaces, using artificial lighting and controlled environmental conditions. This approach maximizes space utilization and allows year-round crop production in urban areas or areas with limited arable land.

Impact of Recession

While a recession can present challenges for the vertical farming market, it also brings opportunities for innovation, increased focus on food security, and government support. The long-term prospects of the vertical farming industry remain promising due to its potential to address key challenges in agriculture, such as resource scarcity, environmental sustainability, and food production limitations. By adapting to changing market dynamics, leveraging technological advancements, and emphasizing the importance of local food production, the vertical farming sector can navigate through recessions and continue its growth trajectory.

Segmentation Analysis

As the vertical farming market continues to expand, shipping container farms and the production of fruits and vegetables are poised to dominate this dynamic industry. Shipping container farms offer flexibility and mobility, allowing farmers to grow crops in any location while maintaining precise environmental control. On the other hand, the cultivation of fruits and vegetables within vertical farms meets the growing consumer demand for locally sourced, high-quality produce throughout the year.

Vertical Farming Market Segmentation as Follows:

by Structure
Shipping Container
Building-based

by Component
Hardware
Software
Services

by Growing Mechanism
Hydroponics
Aeroponics
Aquaponics

by Crop Category
Fruits Vegetables, & Herbs
Flowers & Ornamentals
Others

Segmented by Region/Country:
North America
Europe
China
Japan
Asia Other

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Regional Status & Analysis

With its expanding urban populations, technological prowess, government support, and commitment to sustainability, the Asia Pacific region has emerged as a powerhouse in the vertical farming market. The convergence of these factors has created a fertile ground for the growth and adoption of vertical farming solutions. As the world continues to face food security and environmental challenges, the Asia Pacific region's dominance in vertical farming is set to reshape the agricultural landscape and pave the way for a more sustainable and resilient future.

Conclusion

The future prospects for the market are highly promising. The combination of increasing population, urbanization, environmental challenges, technological advancements, and market demand for fresh produce creates a fertile ground for the growth of vertical farming.

Frequently Asked Questions About this Research Report

What is the projected outlook for vertical farming market growth?

The market is projected to reach a substantial value of USD 25,568.95 million by the year 2030.

What are the major factors influencing the vertical farming market?

With continued research, development, and investments, vertical farming has the potential to revolutionize the agricultural industry and contribute to a more sustainable and resilient food system.

Who are the leading players in the vertical farming market?

Agrilution GmbH, Vertical Farm Systems, 4D BIOS INC., Aerofarm, Freight Farms, GrowUp Urban Farms Ltd., Brightfarms Inc., Everlight Electronics Co., Ltd., Green Sense Farms, LLC.

Table of Content - Analysis of Key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. Vertical Farming Market Segmentation, By Structure
9. Vertical Farming Market Segmentation, By Component
10. Vertical Farming Market Segmentation, By Growing Mechanism
10. Vertical Farming Market Segmentation, By Crop Category
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion

Continued…

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