Vertical Farming Market Valued at USD 5.07 Billion in 2023, Growing at 25.7% CAGR

The global 𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥 𝐅𝐚𝐫𝐦𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 is poised for remarkable growth, driven by the increasing demand for sustainable and efficient agricultural practices. According to a recent report by Maximize Market Research, the vertical farming industry is projected to grow at a Compound Annual Growth Rate (CAGR) of 25.7% from 2023 to 2030, reaching an estimated market size of USD 25.14 Bn by 2030. As urbanization increases and the need for local food production intensifies, vertical farming presents a promising solution for food security and sustainability.

𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥 𝐅𝐚𝐫𝐦𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐕𝐢𝐞𝐭𝐧𝐚𝐦

Vietnam's vertical farming industry is growing rapidly due to the country's push for modernization in agriculture. With the government's support and an increasing number of private-sector investments, Vietnam is on the verge of becoming a leader in Southeast Asia's vertical farming market.

𝐆𝐫𝐨𝐰𝐭𝐡 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐕𝐢𝐞𝐭𝐧𝐚𝐦:

The Vietnamese government's focus on increasing food security and sustainability is driving the adoption of vertical farming technologies.
Vietnam's agricultural sector is expected to witness exponential growth in vertical farming, with projections for a double-digit CAGR in the coming years.
Mergers and acquisitions (M&A) within the agricultural sector are encouraging international companies to enter the Vietnamese market.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐝𝐚𝐭𝐚 𝐚𝐧𝐝 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐛𝐲 𝐯𝐢𝐞𝐰𝐢𝐧𝐠 𝐭𝐡𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 @https://www.maximizemarketresearch.com/request-sample/15221/

𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥 𝐅𝐚𝐫𝐦𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝

In Thailand, vertical farming is emerging as a key solution to address the country's challenge of food production in urban centers. The government's push for urban farming solutions has opened up significant opportunities for both local and international investors.

𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝:

Thailand's increasing urbanization is pushing the demand for vertical farming to new heights. This trend is particularly evident in 𝐁𝐚𝐧𝐠𝐤𝐨𝐤, where limited land availability makes vertical farming an appealing alternative.
The Thai government is actively promoting vertical farming as part of its food security plan, thus creating opportunities for new ventures and partnerships.

𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝:

Major local firms are entering the market, and there is a growing number of vertical farming startups gaining attention from investors.

𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥 𝐅𝐚𝐫𝐦𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐉𝐚𝐩𝐚𝐧

Japan is one of the pioneers in 𝐯𝐞𝐫𝐭𝐢𝐜𝐚𝐥 𝐟𝐚𝐫𝐦𝐢𝐧𝐠 𝐭𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲, with its highly advanced systems and solutions becoming a model for other countries. As one of the most technologically advanced countries in the world, Japan's vertical farming industry is well-positioned for sustained growth.

𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐉𝐚𝐩𝐚𝐧:

The country's aging population and decreasing agricultural workforce are major drivers of vertical farming growth in Japan. By utilizing cutting-edge technology, Japan can maintain its agricultural productivity despite demographic challenges.
Japan's market is expected to witness strong growth as vertical farming solutions are increasingly integrated into urban environments.

𝐆𝐞𝐭 𝐚 𝐜𝐥𝐨𝐬𝐞𝐫 𝐥𝐨𝐨𝐤 𝐚𝐭 𝐭𝐡𝐞 𝐠𝐚𝐦𝐞-𝐜𝐡𝐚𝐧𝐠𝐢𝐧𝐠 𝐩𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐝𝐫𝐢𝐯𝐢𝐧𝐠 𝐬𝐮𝐜𝐜𝐞𝐬𝐬 :https://www.maximizemarketresearch.com/request-sample/15221/

𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥 𝐅𝐚𝐫𝐦𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚

South Korea is rapidly embracing vertical farming to ensure food security and reduce dependency on imports. The government's strong support and advancements in technology are fueling this growth.

𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥 𝐅𝐚𝐫𝐦𝐢𝐧𝐠 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚:

The South Korean government has set ambitious goals to develop a sustainable and efficient agriculture system, with vertical farming playing a crucial role.
South Korea's urbanized population and limited arable land have contributed to an increased demand for vertical farming solutions.

𝐌𝐞𝐫𝐠𝐞𝐫𝐬 𝐚𝐧𝐝 𝐀𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧𝐬 𝐢𝐧 𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚:

South Korea's focus on technological innovation has led to an increase in acquisitions within the vertical farming sector. Companies like 𝐋𝐆 𝐄𝐥𝐞𝐜𝐭𝐫𝐨𝐧𝐢𝐜𝐬 are actively involved in partnerships and investments in vertical farming solutions.

𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥 𝐅𝐚𝐫𝐦𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞

Singapore has established itself as a global leader in 𝐮𝐫𝐛𝐚𝐧 𝐟𝐚𝐫𝐦𝐢𝐧𝐠, particularly vertical farming, due to its small land area and high population density. The government's focus on sustainability and food security has made vertical farming a key solution for the future.

𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞:

Singapore's government has set ambitious goals for increasing local food production, and vertical farming is expected to play a critical role in achieving these goals.
Private companies are also driving the growth of the sector, as innovations in technology continue to lower operational costs.

𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞:

Singrow, a Singaporean startup specializing in vertical farming, has attracted significant investment from venture capitalists to expand its operations across the region.

𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥 𝐅𝐚𝐫𝐦𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐒

In the United States, vertical farming is gaining traction, particularly in urban areas where there is growing demand for fresh produce. Investment in technological innovations is further accelerating the growth of the market.

𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐒:

Vertical farming in the US is poised for rapid growth, particularly in urban environments like New York, Los Angeles, and Chicago.
The industry is projected to grow at a robust rate due to rising concerns about food sustainability and local food production.

𝐔𝐧𝐥𝐨𝐜𝐤 𝐜𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐛𝐲 𝐞𝐱𝐩𝐥𝐨𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐯𝐢𝐚 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 @https://www.maximizemarketresearch.com/request-sample/15221/

𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥 𝐅𝐚𝐫𝐦𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞

Europe is becoming a key player in the global vertical farming market, with countries like the UK, France, and Germany leading the way in terms of adoption and investment.

𝐆𝐫𝐨𝐰𝐭𝐡 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞:

The European Union's policies are pushing for sustainable agriculture, and vertical farming has emerged as a viable solution to support this vision.
Key European players such as 𝐆𝐨𝐭𝐡𝐚𝐦 𝐆𝐫𝐞𝐞𝐧𝐬 and 𝐈𝐧𝐟𝐚𝐫𝐦 are expanding rapidly, with 𝐈𝐧𝐟𝐚𝐫𝐦 recently securing millions of dollars in investment for global expansion.
𝐂𝐨𝐧𝐬𝐨𝐥𝐢𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞:

The European market is seeing increasing consolidation, with larger firms acquiring smaller startups to enhance their technology and market reach.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐛𝐲 𝐆𝐫𝐨𝐰𝐭𝐡 𝐌𝐞𝐜𝐡𝐚𝐧𝐢𝐬𝐦

Hydroponic
Aeroponic
Aquaponic

In 2023, the vertical farming market's growth mechanism was dominated by the hydroponics category. A number of factors have contributed to the hydroponics segment's rise as a market leader in vertical farming. By growing plants without the use of soil and using mineral solutions to directly feed the roots, hydroponics offers unparalleled efficiency. In comparison to traditional farming methods, this approach not only maximizes the use of available area but also guarantees the best possible distribution of resources, resulting in higher returns.

𝐛𝐲 𝐒𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞

Building based structure
Container based structure

In 2023, the vertical farming market's structural segment was dominated by the container-based segment. The containers' capacity to enable agricultural growing regardless of location is responsible for this increase. One major benefit of container farming is its portability and low space needs, which enable newcomers to get started without requiring a large amount of land or specialized infrastructure. Because used containers are easily accessible and reasonably priced, more competition has contributed to a drop in shipping container pricing, which has further accelerated market expansion. Notwithstanding these benefits, there are also issues, such as decreased relative productivity and possible conflicts with layout management, heat, and light.

𝐛𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

Indoor
Outdoor

𝐆𝐞𝐭 𝐚 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬:https://www.maximizemarketresearch.com/market-report/global-vertical-farming-market/15221/

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)

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐨𝐮𝐫 𝐭𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐭𝐨 𝐮𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐬𝐡𝐢𝐟𝐭𝐬 :

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♦ Global Spherical Sun Power Generator Market https://www.maximizemarketresearch.com/market-report/global-spherical-sun-power-generator-market/84293/

♦ Brazil Nuts Market https://www.maximizemarketresearch.com/market-report/brazil-nuts-market/188370/

♦ Global Anti-fog Coatings Market https://www.maximizemarketresearch.com/market-report/anti-fog-coatings-market/122372/

♦ Global Stainless-Steel Round Bar Market https://www.maximizemarketresearch.com/market-report/global-stainless-steel-round-bar-market/71063/

♦ Global Power Tiller Market https://www.maximizemarketresearch.com/market-report/global-power-tiller-market/105051/

♦ Global Drum Motor Market https://www.maximizemarketresearch.com/market-report/global-drum-motor-market/73449/

♦ Global Pitching Machine Market https://www.maximizemarketresearch.com/market-report/global-pitching-machine-market/97584/

♦ Global Pumpkin Seed Market https://www.maximizemarketresearch.com/market-report/global-pumpkin-seed-market/81364/

♦ Global High Bay Lighting Market https://www.maximizemarketresearch.com/market-report/global-high-bay-lighting-market/31124/

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:

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This release was published on openPR.