Vertical Farming Market Set to Surpass US$ 50.78 Billion by 2034, Expanding at 19.9% CAGR

𝐁𝐲 𝟐𝟎𝟐𝟒, 𝐭𝐡𝐞 𝐯𝐞𝐫𝐭𝐢𝐜𝐚𝐥 𝐟𝐚𝐫𝐦𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐛𝐞 𝐰𝐨𝐫𝐭𝐡 𝐔𝐒𝐃 𝟖.𝟐𝟔 𝐛𝐢𝐥𝐥𝐢𝐨𝐧. 𝐀𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟏𝟗.𝟗%, 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 𝐔𝐒𝐃 𝟓𝟎.𝟕𝟖 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟒 𝐟𝐫𝐨𝐦 𝐔𝐒𝐃 𝟗.𝟖𝟗 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟓.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧:
Vertical farming is a method of growing crops in layers on top of each other instead of in horizontal rows. It's a type of controlled environment agriculture (CEA) that uses artificial lighting, temperature, humidity, and water controls. Vertical farms are built into vertical structures like skyscrapers, warehouses, shipping containers, or abandoned mine shafts. LED (light-emitting diode) bulbs mimic sunlight to help plants undergo photosynthesis. Vertical farms use artificial temperature, humidity, and water control to create the ideal growing conditions for plants. There are different types of vertical farming, such as rack systems, tower systems, wall-mounted systems, A-frame systems, and hybrid systems.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/vertical-farming-market/request-for-sample

𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬:
• The rising population across the globe is fueling the demand for the vertical farming market.

• The reduction of arable land is aiding the growth of the vertical farming market.

• The rising need for fresh, locally sourced fruits and vegetables, technological innovations, and automation, along with the increased awareness of sustainable agriculture benefits, are projected to propel market expansion.

• The increasing appeal of organic agriculture is boosting the need for vertical farming.

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐌𝐚𝐫𝐤𝐞𝐭:
Market participants are engaging in diverse strategic initiatives to broaden their global presence, characterized by significant market advancements such as new product launches, cross-border partnerships, increased funding, and mergers and acquisitions among companies. A few of such major market participants are:
• AeroFarms
• Illumitex, Inc.
• American Hydroponics
• Agrilution GmbH
• Brightfarms Inc
• Everlight Electronics Co., Ltd.
• Freight Farms
• GrowUp Urban Farms Ltd.
• Green Sense Farms, LLC
• Vertical Farm Systems

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐁𝐞𝐟𝐨𝐫𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞:
https://www.polarismarketresearch.com/industry-analysis/vertical-farming-market/request-for-discount-pricing

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
The global vertical farming market is dominated by North America, which leads due to advanced agricultural technologies, favorable investments, and growing demand for locally produced fresh food. Urbanization, limited arable land, and government support for sustainable agriculture contribute to growth. In the US, consumer demand for pesticide-free produce and farm-to-table experiences boosts the market. The Asia Pacific market, led by China and Japan, is growing rapidly due to urban expansion, food security concerns, and government support for controlled-environment farming. With 60% of the global population, the region's increasing demand for food drives the adoption of vertical farming.

𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥 𝐅𝐚𝐫𝐦𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:
1. February 2023: Aerofarms and the Public Investment Fund (PIF) signed a joint venture agreement to build and operate the largest indoor vertical farm in Saudi Arabia and the MENA region.

2. October 2022: Urban Crop Solutions (UCS) and Rudi Pauwels partnered to establish a research center focused on indoor farming applications in Southern Spain.

3. February 2021: iFarm, in collaboration with Yasai AG and Logiqs B.V., announced a strategic partnership to create the first vertical farm in Zürich.

𝐂𝐥𝐢𝐜𝐤 𝐡𝐞𝐫𝐞 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/vertical-farming-market

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
• The vertical farming market segmentation is done on the basis of growth mechanism, crop type, component, structure, and region.

• Based on growth mechanism, the market is segmented as aquaponics, hydroponics, and aeroponics.

• The hydroponics sector captured a substantial market share in 2024 because it requires less water compared to conventional farming techniques.

• The market for vertical farming, based on structure is segmented as container-based vertical farms and building-based vertical farms.

• The vertical farms segment based on buildings held the largest market share in vertical farming in 2024 due to their scalability, incorporation into urban infrastructure, and capacity to deliver high crop yields.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
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