Vertical Farming Market Reviews Analysis Report 2024

Vertical Farming Market Assessment worth $ 21.99 Billion by 2030 - Exclusive Report by InsightAce Analytic

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 2030."
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According to the most recent analysis by InsightAce Analytic, the global vertical farming market is estimated to be worth US$4.08 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 20.9% to reach US$21.99 billion by 2030.
Vertical farming entails piling food vertically in buildings such as skyscrapers, abandoned factories, or shipping containers. Controlled-environment agriculture (CEA) technologies and indoor farming methods are used in modern vertical farming concepts to manage all environmental aspects. It offers a unique type of farming that makes it possible to produce large amounts of crops in a small area with little financial investment and no harmful environmental effects. This is mainly because perpendicular stack-based farming allows for full land utilization, resulting in significant returns from optimal land and energy use while reducing the need for more land.
The global vertical farming market is expected to expand in revenue due to rising global food needs, higher yield than conventional farming, independence from external climate conditions, and rapid urbanization. The expansion of the market's income is mainly due to the rise in global food demand. Higher yield than conventional farming is one of the elements driving the market's predicted revenue increase. Vertical farming yields are boosted since year-round cultivation and harvesting are made possible by the regulated environment of the hydroponic greenhouse. Harvests may be produced eleven or thirteen times yearly in the vertical hydroponic farm's regulated atmosphere.
Additionally, this is anticipated to accelerate market expansion and raise demand for vertical farming techniques. The main advantage of vertical farming is that it is not affected by climate. Rapid urbanization is another factor fueling the desire for vertical farming. The increasing number of people living in cities has led to innovations that provide food security while having the most negligible negative impact on water and land resources. An additional component is the growing media required by the plant. Hydroponic, aquaponic, and aeroponic gardening techniques replace soil with a growing medium. On the other hand, a vertical farming system setup is costly. Furthermore, there needs to be more information regarding alternative farming practices, and adopting new, cutting-edge technology significantly inhibits the rise of market revenue.
Over the projected years, the Asia Pacific region will contribute significantly to the vertical farming market. Growing knowledge of the benefits of alternative farming due to a shortage of viable agricultural land and an increasing population in the area is the primary factor expected to boost demand. Most of the vertical farming market's revenue is anticipated from China, Japan, Korea, and India. Data on vertical farming indicates that these nations' populations and disposable incomes have grown, resulting in lifestyle changes and new requirements. Furthermore, it is anticipated that the vertical farming market in North America will expand significantly during the projected period. Some factors driving the market's growth are the rate of water level depletion, the prevalence of states experiencing drought, and the rise in environmental concerns. The latest trend in farming is nanofarms.
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 are some of the major market players operating in the vertical farming industry.
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.
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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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