Vertical Farming Market Report 2025-2034: Industry Overview, Trends, And Forecast Analysis

The Vertical Farming Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Vertical Farming Market?
The size of the vertical farming market has seen a tremendous increase over the recent past. There is a predicted growth from $7.74 billion in 2024, escalating to $9.6 billion in 2025, with a compound annual growth rate (CAGR) of 24.0%. The expansion during the prior period can be connected to concerns about water scarcity, independence from climate and seasons, the demand for domestic produce, increment in population, and worries related to food safety.

The market size of vertical farming is anticipated to witness a substantial increase in the coming years, with an expected value of $21.12 billion by 2029, which represents a compound annual growth rate (CAGR) of 21.8%. The growth during the projected period is primarily due to the integration with smart cities, the infiltration of vertical farming into retail outlets, initiatives in education and research, development in emerging countries, and the societal inclination towards organic and locally sourced produce. The emerging trends expected during this period encompass cultivation of tailored crop varieties, partnerships with the food service industry, the implementation of multi-tiered and stacked farming methodologies, automation in planting and harvesting processes, as well as the application of aeroponics and hydroponics technologies.

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What Are the Different Vertical Farming Market Segments?
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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What Are the Primary Drivers Shaping the Vertical Farming Market?
The escalation of urbanization is predicted to boost the vertical farming market's expansion. Urbanization enhances the total farming area while reducing the rural populace, leading to an accrued per-capita farming area for rural dwellers and subsequently, a larger farm size. By 2050, around 80% of the global population is projected to reside in urban spaces, with an increase in human population by three billion. Additionally, as per the World Economic Forum, over a third of the anticipated urban growth from now till 2050 is predicted to take place in only three countries, namely, India, China, and Nigeria. By 2050, India is foreseen to have an additional 416 million urban inhabitants, China 255 million, and Nigeria 189 million. Hence, urbanization's surging trend is propelling the vertical farming market.

Which Companies Are Leading in the Vertical Farming Market?
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.

What Are the Major Trends Shaping the Vertical Farming Market?
Leading corporations in the vertical farming industry are concentrating on creating technological innovations such as vertical farming systems that function within modular containers, aimed at maximizing space and resources for effective crop growth. The approach of vertical farming entails cultivating plants in stacked layers in controlled settings, utilizing techniques such as hydroponics to maximize space and boost sustainability. For instance, in October 2024, Growtainers, a vertical farm company based in the U.S. which operates with a 30-60% lower CapEx than other farms, excels in offering modular farming solutions, with an emphasis on resource-efficient and ecologically-friendly agricultural practices. This vertical farm works on a 30-60% lower capital expenditure compared to standard farms and includes features like a modular framework, energy-saving by way of LED lighting, hydroponic systems for soil-free cultivation, automated tracking, eco-friendly processes, the ability to produce throughout the year, and the capacity to scale up to match rising demand.

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What Are the Top Revenue-Generating Geographies in 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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Vertical Farming Market?
2. What is the CAGR expected in the Vertical Farming Market?
3. What Are the Key Innovations Transforming the Vertical Farming Industry?
4. Which Region Is Leading the Vertical Farming Market?

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