Global Vertical Farming Market Industry Trends, Revenue, Future Scope and Outlook 2030

The Vertical Farming Market size was valued at US 5.07 Bn in 2023 and market revenue is growing at a CAGR of 25.7 % from 2023 to 2030, reaching nearly USD 25.14 Bn by 2030.

Overview of the Vertical Farming Market:

A growing number of people are engaging in vertical farming as a result of urbanisation, land scarcity, and climate change. This technique offers long-term answers to problems with food production by stacking layers of crops in regulated settings. Efficiency is being improved by technological innovations like automation and LED lighting. Demand is being driven by a growing customer preference for fresh product that is supplied locally.

Vertical Farming Market Research Methodology

Both primary and secondary data sources are crucial to the research report's success. In order to conduct research, a number of factors pertaining to the vertical farming market are examined. These factors include government regulations, the market environment, the competitive landscape, historical data, current market trends, technological innovation, upcoming technologies, and technical advancements in related industries. Additionally, market risks, opportunities, barriers, and challenges are also taken into consideration. To produce the final quantitative and qualitative data, every imaginable factor influencing the markets covered by this research study has been taken into account, thoroughly researched, verified through primary research, and assessed. The influence of inflation, economic downturns, regulatory and policy changes, and other variables is considered into the market prediction, and the market size for top-level markets and sub-segments is normalised.

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Vertical Farming Market Dynamics

The world's declining amount of arable land that can be farmed and rising population both contribute to the growth of the vertical farming market.

A number of causes are contributing to the notable rise that the vertical farming market is witnessing, chief among them being the growing global population and the depletion of fertile land suitable for cultivation. The need for food to support human existence is rising as the world's population continues to rise. Challenges to traditional farming practices include water scarcity, land degradation, and climate change, all of which have a negative impact on productivity and crop yields. There is less and less area accessible for farming as a result of growing urbanisation and infrastructure development. Vertical farming has come to light as a potential remedy for these problems.

The vertical farming market has significant growth potential due to technological innovation.

The vertical farming business is experiencing profitable growth prospects owing in large part to technological innovation. Technological innovations that lower labour costs while increasing production and efficiency include automated planting, monitoring, and harvesting systems. Climate control technology, such as HVAC systems and LED lighting, optimise growing conditions and make year-round cultivation possible, regardless of the weather outside. IoT sensors enable farmers to make data-driven decisions for better yields and resource management by providing real-time data on environmental conditions and crop health. Robotics integration improves operational efficiency, and closed-loop systems reduce waste and advance sustainability. Vertical farms have a smaller environmental impact thanks to the use of renewable energy alternatives that lessen dependency on conventional power sources.

Vertical Farming Market Segmentation

by Growth Mechanism

Hydroponic
Aeroponic
Aquaponic

by Structure

Building based structure
Container based structure

Based on Structure: In 2023, the vertical farming market's structure segment was dominated by the container-based segment. This increase is explained by the containers' capacity to enable agricultural production wherever they are. One major benefit of container farming is that it is space-efficient and mobile, so newcomers may get started without requiring large amounts of land or special facilities. Because used containers are easily found for less money, increasing competition has contributed to a drop in shipping container prices while also fostering market expansion. Notwithstanding these benefits, there are still issues to be resolved, such as reduced relative productivity and possible conflicts with heat, light, and layout control. However, the market for shipping containers is expected to rise due to advances in technology and a rise in the use of precision agricultural methods.

by Application

Indoor
Outdoor

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Vertical Farming Market Key Players

North America
1. AeroFarms (United States)
2. Plenty (United States)
3. Bowery Farming (United States)
4. BrightFarms (United States)
5. Gotham Greens (United States)
6. Lufa Farms (Canada)
7. Farm.One (United States)
8. Local Roots Farms (United States)
9. Green Sense Farms (United States)
10. Vertical Harvest (United States)
11. Freight Farms (United States)
12. Crop One Holdings (United States)
13. Fifth Season (United States)
14. AppHarvest (United States)
15. FarmBox Foods (United States)
16. Modular Farms (Canada)
17. Urban Grow Inc. (United States)
Europe
1. Infarm (Germany)
2. Urban Crop Solutions (Belgium)
3. Jones Food Company (United Kingdom)
4. iFarm (Finland)
5. PlantLab (Netherlands)
6. Evergreen Farm Oy (Finland)
Asia Pacific
1. Sky Greens (Singapore)
2. Spread Co., Ltd. (Japan)

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Regional Insights:

In 2023, North America held a dominant position in the vertical farming market. The continent's robust infrastructure and technical environment encourage the quick uptake of innovative farming methods. This technological capability is further enhanced by an innovative and entrepreneurial culture that propels ongoing improvements in vertical farming techniques. Traditional agriculture in North America is beset by intrinsic difficulties, such as a lack of arable land and mounting environmental concerns. By reducing resource use and optimising land use efficiency, vertical farming provides a sustainable answer to these problems. The area gains from rising customer demand for fresh products grown nearby as well as increased consciousness of environmental sustainability and food security issues. This attitude among consumers fosters a market climate that is advantageous to vertical farming projects.

Key Questions answered in the Vertical Farming Market Report are:

How has the Vertical Farming market performed so far and how will it perform in the coming years?
What is the market segmentation of the global Vertical Farming market?
What is the regional breakup of the global Vertical Farming market?
What are the price trends of various feedstocks in the Vertical Farming industry?
What is the structure of the Vertical Farming industry and who are the key players?
What are the various unit operations involved in a Vertical Farming processing plant?
What is the total size of land required for setting up a Vertical Farming processing plant?
What is the layout of a Vertical Farming processing plant?
What are the machinery requirements for setting up a Vertical Farming processing plant?
What are the raw material requirements for setting up a Vertical Farming processing plant?
What are the packaging requirements for setting up a Vertical Farming processing plant?
What are the transportation requirements for setting up a Vertical Farming processing plant?
What are the utility requirements for setting up a Vertical Farming processing plant?
Key offerings:

Market Share, Size, and Forecast by Revenue|2022-2029
Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
Market Segmentation: A detailed analysis by Vertical Farming
Landscape- Leading key players and other prominent key players.
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