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Vertical Farming Market 2025 Trends: Expected to Grow at a CAGR of 25.5% from 2023 to 2032, Claims AMR
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Prime Determinants of Growth
The vertical farming market is expected to witness notable growth owing to optimum use of vertical space and balanced energy utilization, ease of crop monitoring and harvesting and increase in popularity of organic foods. Moreover, the growth in urban population is expected to provide lucrative opportunity for the growth of the market during the forecast period. On the contrary, high initial investments limit the growth of the vertical farming market.
The Irrigation Component Segment to maintain its leadership status throughout the forecast period.
Based on component, the irrigation component segment held the highest vertical farming industry in 2022, accounting for nearly one-third of the global vertical farming market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to technological advancements in drip irrigation methods to minimize water consumption due to rise in water concerns worldwide. However, Climate Control is projected to manifest the highest CAGR of 28.95% from 2023 to 2032 due to increase in demand for farming.
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The building-based Vertical Farms segment to maintain its leadership status throughout the forecast period.
Based on structure, the building-based vertical farms segment held the highest market share in 2022, accounting for more than half of the global Vertical farming market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to the ongoing global urbanization process. However, the Container-based Vertical Farms is projected to manifest the highest CAGR of 25.94% from 2023 to 2032.
The Hydroponics segment to maintain its leadership status throughout the forecast period.
Based on growth mechanism, the hydroponics segment held the highest market share in 2022, accounting for more than two-fifths of the global vertical farming market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to growing inclination is observed towards incorporating hydroponic systems with sustainable practices like the adoption of renewable energy, water recycling, and organic nutrient management solutions, underscoring the environmental significance of hydroponics.
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North America to Maintain its Dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global Vertical farming market revenue owing to the government initiatives and cooperation from private companies along with the continuous research and development for hydroponics segment which are fueling the growth of the market in this region.
Key Industry Development
In July 2023, AeroFarms announced expansion of retail availability of its microgreens at both Walmart and Stop & Shop across the Mid-Atlantic and Northeast, respectively.
In May 2023, AeroFarms, announced national expansion with Amazon Fresh online and at all Amazon Fresh grocery store locations, known for its unique, high-tech consumer-focused grocery store experience.
In June 2023, ort Americas announced a division within the company to bring quality, technically advanced and cost-effective products to commercial greenhouse growers in Canada. It provides the best-in-class products, educating growers and continuing to research advancements in controlled environment agriculture.
Leading Market Players: -
4D Bios Inc
AeroFarms
Hort Americas
Urban Crops Solution
Am Hydro
Signify Holding,
Everlight Electronics CO., LTD.
Agrilution
GreenTech
ams-OSRAM AG
Know More- https://www.globenewswire.com/news-release/2023/11/20/2783159/0/en/Vertical-Farming-Market-to-Reach-42-53-Billion-Globally-by-2032-at-25-46-CAGR-Allied-Market-Research.html
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