Vertical Farming Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends

What industry-specific factors are fueling the growth of the vertical farming market?
Anticipated urban growth is likely to fuel the expansion of the vertical farming market. The uptick in urbanization amplifies the overall land dedicated to crop cultivation and diminishes the countryside demography, leading to an increased ratio of cropland per rural inhabitant and thus an expanded farm size. Predictions suggest that by 2050, roughly 80% of the global populace will reside in urban areas, with the human count swelling by an additional three billion. The World Economic Forum also anticipates that more than a third of the predicted urban sprawl from present times to 2050 will be concentrated in three nations: India, China, and Nigeria. The projections suggest urban citizen growth by 2050 will be 416 million in India, 255 million in China, and 189 million in Nigeria. Consequently, escalating urbanization rates are catalyzing the growth of the vertical farming market.

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What Is the projected market size and growth rate for the vertical farming market?
In recent times, there has been an exceptional expansion in the vertical farming market. The market which was valued at $7.74 billion in 2024 is predicted to increase to $9.6 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 24.0%. Factors contributing to this significant growth during the historical period include concerns about water scarcity, independence from climate and seasons, the preference for locally sourced produce, population expansion, and worries around food safety.

In the coming years, the vertical farming market size is projected to expand rapidly, achieving a worth of $21.12 billion by 2029 with a compound annual growth rate (CAGR) of 21.8%. The surge during the forecast period can be linked to its incorporation into smart cities, its adoption in retail spaces, various academic and research programs, penetration into emerging markets, and the increasing consumer demand for organic and local crops. The period forecasts key trends such as personalized crop types, partnerships with the foodservice sector, multi-tier and layered farming structures, automated mechanisms for sowing and reaping, and the adoption of aeroponics and hydroponics technologies.

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What new trends are reshaping the vertical farming market and its opportunities?
Leading corporations in the vertical agriculture market are putting emphasis on the creation of technological progress such as vertical farming solutions running within modular containers, which are developed to optimize space utilization and resources for effective cultivation of crops. Vertical farming involves the system of cultivating plants in stacked layers under regulated conditions, using approaches like hydroponics to maximize spatial utility and encourage eco-friendliness. For example, in October 2024, Growtainers, a U.S-based business that runs a Vertical farm, operates at a 30-60% reduced capital expense compared to other farms. The company is known for its modular farming solutions and is dedicated to efficient and sustainable farming practices. Its vertical farming operation maintains a 30-60% lesser capital expenditure than traditional farming methods. It boasts of a modular setup, energy conservation via LED lighting, hydroponic methods for cultivation without soil, automatic monitoring, sustainability procedures, year-round production abilities, and the capacity to scale up to cater to surging demand.

What major market segments define the scope and growth of the vertical farming market?
The vertical farming market covered in this report is segmented -

1) By Component: Irrigation Component, Lighting, Sensor, Climate Control, Building Material, Other Components
2) By Structure: Shipping Container, Building-Based
3) By Type: Hydroponics, Aeroponics, Aquaponics
4) By Crop Type: Leafy Green, Pollinated Plants, Nutraceutical Plant
5) By Application: Indoor, Outdoor

Subsegments:
1) By Irrigation Component: Drip Irrigation Systems, Hydroponic Systems, Nutrient Delivery Systems
2) By Lighting: Led Grow Lights, High-Intensity Discharge (Hid) Lights, Fluorescent Lights
3) By Sensor: Soil Moisture Sensors, Temperature And Humidity Sensors, Light Sensors
4) By Climate Control: Hvac Systems, Dehumidifiers, Fans And Ventilation Systems
5) By Building Material: Racks And Shelving, Containers And Growing Media, Enclosures And Walls
6) By Other Components: Automation Systems, Monitoring And Control Software, Energy Management Systems

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Which region dominates the vertical farming market?
North America was the largest region in the vertical farming market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the vertical farming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which key market leaders are driving the vertical farming industry growth?
Major companies operating in the vertical farming market include Philips Lighting N.V., Osram AG, Everlight Electronics Co Ltd., Infarms Indoor Forming GmbH, Spread Group GmbH, Bowery Farming Inc., Plenty Unlimited Inc., BrightFarms Inc., Mirai Co Ltd., Intelligent Growth Solutions Ltd., Freight Farms Inc., AeroFarms, General Hydroponics Inc., Agricool Group, CropOne Holdings Inc., CropOne Holdings Inc, AppHarvest Inc., Vertical Future Ltd., Valoya Inc., Kalera Public Limited Company, Agrilution Systems GmbH, American Hydroponics Inc., Square Mile Farms Ltd., Swegreen AB, Green Sense Farms Holdings Inc., Hort Americas LLC, Urban Crop Solutions, Eden Green Technology, Illumitex Inc., Heliospectra AB, Future Crops Vertical Farming B.V., Sky Urban Solutions Holding Pte Ltd.

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What Is Covered In The Vertical Farming Global Market Report?

•Market Size Forecast: Examine the vertical farming market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the vertical farming market for a structured understanding.
•Key Players Overview: Analyze major players in the vertical farming market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the vertical farming market.
•Segment Contributions: Evaluate how different segments drive overall growth in the vertical farming market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the vertical farming market.
•Industry Challenges: Identify potential risks and obstacles affecting the vertical farming market.
•Competitive Landscape: Review strategic developments in the vertical farming market, including expansions, agreements, and new product launches.

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With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

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