Vertical Farming Market Exclusive Trends Analysis with Forecast to 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Vertical Farming Market- by Products (Lighting, Hydroponic components, Climate Control, and Sensors), Mechanism (Hydroponics, Aeroponics, and Aquaponics), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

The Vertical Farming Market Size is valued at 4.83 Billion in 2022 and is predicted to reach 27.34 Billion by the year 2031 at a 21.6 % CAGR during the forecast period for 2023-2031.

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Vertical farming is a procedure that involves stacking food on vertical levels in structures like shipping containers, abandoned factories, or skyscrapers. Modern vertical farming concepts use indoor farming techniques and controlled-environment agriculture (CEA) technologies to regulate all environmental factors. It provides a special form of farming that enables the production of huge crops in a small space with minimal financial outlay and no adverse effects on the environment. This is primarily because perpendicular stack-based farming reduces the need for additional land and permits full land use for farming, with optimal land and energy use producing appreciable returns.

It is anticipated that factors such as an increase in global food demand, greater yield than conventional farming, independence from external climatic conditions, and a swift rise in urbanization would propel the global vertical farming market revenue growth. The rise in global food demand is a significant factor in the expansion of the market's revenue. The market's anticipated revenue growth would likely be fueled by a number of factors, including higher yield than conventional farming. The hydroponic greenhouse's controlled environment enables year-round cultivation and harvesting, resulting in increased yields from vertical farming. In the controlled environment of the vertical hydroponic farm, harvests can be produced 11-13 times annually. It is also predicted that this will increase demand for vertical farming methods and quicken market expansion.

The primary benefit of vertical farming is its independence from climate factors. Another element driving the demand for vertical farming is rapid urbanization. Innovations have resulted from the growing urban population to assure food security while minimizing the impact on land and water resources. The growing medium that the plant needs is another parameter. Aeroponics, hydroponics, and aquaponics all use a growing medium in place of soil.

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However, the setup of vertical farming systems is expensive. In addition, there is a shortage of knowledge about alternative farming methods, and using new, cutting-edge technologies severely slows market revenue growth.
The Asia Pacific is expected to be the major contributor to the Vertical Farming market over the forecast years. The main reason projected to drive demand is growing awareness of the value of alternative farming due to a lack of productive agricultural land and an escalating population in the area.

The vertical farming market is expected to produce most of its revenue in China, Japan, Korea, and India. Vertical farming data show that these countries' populations and disposable incomes have increased, leading to lifestyle changes and new needs. In addition, the North America Vertical Farming market is expected to grow significantly during the forecast period. The alarming rate of water level depletion, the existence of states suffering from drought, and the rise in environmental concerns are some of the reasons for the market's expansion. Nanofarms are the most recent fashion.

Major market players operating in the Vertical Farming market include Innovation Agi-Tech Group, Vertical Field, Aero Farms, Apparent, Vertical Harvest, Crop One, Plenty Unlimited Inc., SPREAD Co., Ltd., V-Farm, Bridge Greenhouses Ltd., Jones Food Co, Letts Grow Ltd, Grownup Farms Limited, 80 Acres Farms, 808 Factory, Agrarian, Boom Grow, Agricola, Unfold Inc., Freight Farms, Bowery Farming, Cubic Farm Systems Corp., Garden, Grow Group IFS, IGS Limited, Sweetgreen, Vertical Future, Yes Health Group and Other Prominent Players.

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Recent collaborations and agreements in the market:
• In August 2021, Cargill, in collaboration with the vertical farming pioneer AeroFarms, aims to increase cocoa bean yields and develop better climate-resilient farming approaches. Together, the two institutions will test several indoor growing technologies, such as aeroponics and hydroponics, as well as light, carbon dioxide, irrigation, and nutrients, to determine the best circumstances for cocoa tree growth.
• In August 2021, AeroFarms announced plans to expand into the Middle West in collaboration with the World Wildlife Fund (WWF) and St. Louis Controlled Environment Agriculture Coalition (STLCEA) to demonstrate novel ways of reducing the environmental imprint of indoor vertical farming.
• In December 2020, Freight Farms, Inc. collaborated with Arcadia Power, Inc. to deliver clean electricity to Freight Farms clients in the United States. It enabled farmers to transport goods using clean, low-cost electricity. Customers of Freight Farms who have an Arcadia membership can choose to match their electricity consumption with wind and solar power, which will assist create more demand for growers' clean energy supplies.

Market Segments
Global Vertical Farming Market, by Products, 2022-2030 (Value US$ Mn)
• Lighting Devices
• Hydroponic Components
• Climate Control Devices
• Sensing Devices
• Other Products
Global Vertical Farming Market, by Mechanism, 2022-2030 (Value US$ Mn)
• Hydroponics
• Aquaponics
• Aeroponics
Global Vertical Farming Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Vertical Farming Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Vertical Farming Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Vertical Farming Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Vertical Farming Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Vertical Farming Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
> To receive a comprehensive analysis of the prospects for the global Vertical Farming market
> To receive an industry overview and future trends of the Vertical Farming market
> To analyze the Vertical Farming market drivers and challenges
> To get information on the Vertical Farming market value (US$Mn) forecast to 2030
> Significant investments, mergers & acquisitions in the Vertical Farming market industry

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