Vertical Farming Market Growth Trends, Revenue, Future Plans and Forecast 2029

Vertical Farming Market expected to reach USD 15.78 Billion by 2029, exhibiting a CAGR of 18.6 % during the forecast period (2023-2029).

Vertical Farming Market Report Scope and Research Methodology

Report Scope:

The research report offers a comprehensive analysis of the Vertical Farming Market, considering 2022 as the base year. Special attention is given to the effects of the COVID-19 lockdowns on market dynamics in 2020, as well as the expected impact over the next two years.

Research Methodology:

This report relies on a combination of primary and secondary data sources, investigating factors that influence the vertical farming market. It encompasses government policies, market conditions, competition analysis, historical data, emerging technologies, and advancements in related sectors. Market risks, opportunities, challenges, and barriers are extensively examined.

The market size for primary markets and sub-segments is normalized, accounting for inflation, economic fluctuations, regulatory adjustments, and other variables in the market forecast.

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What are Vertical Farming Market Dynamics?

Market Drivers:

Environmental Impact Reduction: Vertical farming significantly reduces the environmental impact of agriculture, using less water and eliminating the need for herbicides and pesticides.

High Yield: Vertical farms offer impressive yields compared to conventional farming, utilizing less land, water, and no pesticides.

Climate Control: While challenging, climate control is crucial in vertical farming, ensuring the right conditions for plant growth.

Infrastructure Flexibility: Shipping containers offer flexibility in setting up farms and are cost-effective, lowering the entry barrier for new businesses.

Market Restraints:

High Initial Costs: Vertical farming startups face high initial investment costs, making them economically challenging.

Energy Consumption: The need for supplemental lighting, such as LEDs, increases energy consumption, potentially affecting the environment if non-renewable energy sources are used.

Vertical Farming Market Segmentation?

According to Structure, the vertical farming market was led by the shipping container segment in 2022 with a market share of more than 50.0%, and this trend is anticipated to continue during the forecast period. This growth is attributed to the building's ability to support crop production regardless of location. One of the main benefits of container farming is that it is portable and doesn't need a sizable piece of land or a special facility to start growing. Additionally, as competition grows, shipping container prices decrease since it is very inexpensive to acquire used containers, allowing more businesses to enter the market. Poor comparative productivity and conflict between light, heat, and layout are two drawbacks of such systems.

The hydroponics segment, according to Growing Mechanism, had the biggest revenue share of more than 50.0% in 2022 and is anticipated to continue to hold a commanding position throughout the projection period. Hydroponics is a well-liked growth technique due to its low installation costs and simplicity of use. It is a technique for growing plants that substitutes a mineral solution for soil around the plant roots. Additionally, the hydroponics method reduces the risk of sickness due to soil organisms. Demand for hydroponics is expected to increase as consumers become more aware of the risks associated with pesticides. Plants grown hydroponically offer a better yield than equivalent soil-grown plants due to good nutrient control.

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Who are Vertical Farming Market Key Players?

1. AeroFarms
2. Plenty
3. Green Spirit Farms
4. Bowery farming
5. BrightFarms
6. Gotham Greens
7. Iron Ox
8. Infarm
9. Agricool
10. CropOne
11. Illumitex
12. PodPonics
13. Surna
14. Freght Farms
15. Voeks Inc
16. Signify
17. Osram
18. Freight Farms
19. Sky Greens
20. Spread
21. Valoya
22. Everlight Electronics
23. Heliospectra AB
24. Green Sense Farms
25. Agrilution
26. American Hydroponics
27. Urban Crop solutions
28. Vertical Farm Systems

Table of content for the Vertical Farming Market includes:

Part 01: Executive Summary

Part 02: Scope of the Vertical Farming Market Report

Part 03: Global Vertical Farming Market Landscape

Part 04: Global Vertical Farming Market Sizing

Part 05: Global Vertical Farming Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Regional Insights:

The global Vertical Farming market encompasses regions like North America, Asia Pacific, Europe, Middle East and Africa, and South America. Each region plays a significant role in shaping the market. For instance, the North America Military Land Vehicle Market is experiencing a rise in demand for electric vehicles, driven by the adoption of electric and zero-emission vehicles for the non-tactical fleet of the U.S. military. The Asia Pacific region, on the other hand, is witnessing strong investments in Vertical Farming to bolster military capabilities.

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