Vertical Farming Market: The global market is expected to grow at a CAGR of 23.3% during the forecasted period

As per the study initiated by Evolve Business Intelligence, the global Vertical Farming Market size accounted for USD 4.9 Billion in 2022, growing at a CAGR of 23.3% from 2023 to 2033. Vertical farming refers to the practice of growing crops in vertically stacked layers or vertically inclined surfaces, often in controlled environments such as indoor facilities, greenhouses, or on vertical structures like walls. This method of farming utilizes various technologies such as hydroponics, aeroponics, and aquaponics to optimize space, light, and resources for efficient and sustainable crop production.
The vertical farming market has been experiencing growth driven by advancements in technology, increasing awareness of sustainability, and the rising demand for locally sourced, fresh produce. It gained attention due to its potential to address challenges in traditional agriculture, such as limited arable land, water scarcity, and the need for year-round crop production. It is often seen as a sustainable and efficient solution for urban farming, enabling fresh produce to be grown closer to consumers, reducing transportation costs and carbon emissions.

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Key Highlights:
• The global Vertical Farming Market size was valued at USD 4.9 billion in 2022 growing at a CAGR of 23.3% from 2023 to 2033.
• North America dominated the market in 2022
• Asia Pacific is expected to grow at the highest CAGR from 2023 to 2033

Evolve Business Intelligence has just unveiled its latest market research report focusing on the Global Vertical Farming Market. This comprehensive report delves into various facets of the market, including market size and projections, market dynamics, competitor market share analysis, market value and volume, SWOT analysis, product comparisons, recent advancements by major players, and prospective opportunities. Furthermore, the market's evaluation in the dynamic chapter considers four key indicators: Drivers, Constraints, Emerging Trends, and Challenges..

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Key Players
Some of the major Vertical Farming Market players holding high market shares include Valoya, Sky Greens, Freight Farms and AeroFarms. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.
The key players profiled in the report are:
• Plenty Unlimited Inc.
• Osram Licht AG
• Signify Holding
• Valoya
• Sky Greens
• Freight Farms
• AeroFarms
• Spread
• Everlight Electronics
• Heliospectra AB

Segmental Analysis
Market Segment By Structure
• Building-based Vertical Farms
• Container-based Vertical Farms
Market Segment By Component
• Irrigation Component
• Lighting
• Sensor
• Climate Control
• Building Material

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Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

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• Comprehensive insights.
• Reliable and accurate data.
• Market size and data forecast
• Competitive analysis.
• Identification of market opportunities.
• Risk identification and mitigation strategies.
• SWOT analysis.
• TAM Analysis
• Recent industry developments.
• Customization options.
• Expertise and guidance for strategic decision-making

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