Vertical Farming Market Skyrockets Amid Global Food Demand and Urbanization Pressures

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Vertical Farming Market- by Products (Lighting, Hydroponic components, Climate Control, and Sensors), Mechanism (Hydroponics, Aeroponics, and Aquaponics), Trends, Industry Competition Analysis, Revenue and Forecast To 2034."

According to the latest research by InsightAce Analytic, the global Vertical Farming market is valued at US$ 6.90 Billion in 2024, and it is expected to reach 50.79 Billion by the year 2034, with a CAGR of 22.2% during a forecast period of 2025-2034.

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Vertical farming represents a transformative approach to agriculture, wherein crops are cultivated in vertically stacked layers within structures such as shipping containers, repurposed warehouses, or high-rise buildings. This method incorporates indoor farming practices and controlled-environment agriculture (CEA) technologies to precisely regulate variables such as light, temperature, humidity, and nutrient levels. By optimizing land and resource use, vertical farming enables efficient crop production in confined urban settings, offering substantial environmental and economic benefits with minimal land requirements and reduced ecological impact.

The global vertical farming market is projected to witness significant expansion, driven by factors such as the rising global food demand, the need for higher agricultural yields, increasing urbanization, and the benefits of climate-independent cultivation. Vertical farming systems, particularly those employing hydroponic greenhouses, facilitate continuous crop production throughout the year-potentially achieving up to 11 to 13 harvests annually-thereby addressing food security challenges in densely populated urban regions. Additionally, the capability of vertical farms to operate irrespective of external weather conditions enhances their appeal as a reliable food production solution.

Further contributing to the market's growth is the adoption of alternative soilless cultivation techniques, including aeroponics, hydroponics, and aquaponics, which offer resource efficiency and improved crop quality. However, the high initial capital investment required for setting up vertical farming infrastructure, coupled with limited awareness and slower adoption of advanced agricultural technologies, poses challenges to market penetration. These barriers may constrain revenue growth, particularly in developing regions with limited access to technical expertise and financial resources.

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The Asia Pacific region is projected to be the most significant contributor to the vertical farming market's growth over the forecast period. This expansion is primarily driven by heightened awareness of alternative agricultural practices, stemming from constrained availability of arable land and a rapidly increasing population. Key markets such as China, Japan, South Korea, and India are anticipated to account for a substantial share of regional revenue. Rising disposable incomes and shifting consumer preferences in these countries are fueling demand for sustainable and efficient food production systems, thereby accelerating the adoption of vertical farming technologies.

In parallel, the North American vertical farming market is expected to experience notable growth in the coming years. Contributing factors include escalating concerns over water scarcity, the prevalence of drought-prone areas, and increasing environmental awareness. The region is also witnessing the emergence of innovative agricultural technologies, such as nanofarming, which are further supporting the expansion of vertical farming practices. These developments underscore a growing shift toward sustainable, high-yield farming solutions across North America.

Major market players operating in the Vertical Farming market include Innovation Agi-Tech Group, Vertical Field, Aero Farms, Apparent, Vertical Harvest, Crop One, Plenty Unlimited Inc., SPREAD Co., Ltd., V-Farm, Bridge Greenhouses Ltd., Jones Food Co, Letts Grow Ltd, Grownup Farms Limited, 80 Acres Farms, 808 Factory, Agrarian, Boom Grow, Agricola, Unfold Inc., Freight Farms, Bowery Farming, Cubic Farm Systems Corp., Garden, Grow Group IFS, IGS Limited, Sweetgreen, Vertical Future, Yes Health Group and Other Prominent Players.

Recent collaborations and agreements in the market:
• In August 2021, Cargill, in collaboration with the vertical farming pioneer AeroFarms, aims to increase cocoa bean yields and develop better climate-resilient farming approaches. Together, the two institutions will test several indoor growing technologies, such as aeroponics and hydroponics, as well as light, carbon dioxide, irrigation, and nutrients, to determine the best circumstances for cocoa tree growth.
• In August 2021, AeroFarms announced plans to expand into the Middle West in collaboration with the World Wildlife Fund (WWF) and St. Louis Controlled Environment Agriculture Coalition (STLCEA) to demonstrate novel ways of reducing the environmental imprint of indoor vertical farming.
• In December 2020, Freight Farms, Inc. collaborated with Arcadia Power, Inc. to deliver clean electricity to Freight Farms clients in the United States. It enabled farmers to transport goods using clean, low-cost electricity. Customers of Freight Farms who have an Arcadia membership can choose to match their electricity consumption with wind and solar power, which will assist create more demand for growers' clean energy supplies.

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Market Segments
Global Vertical Farming Market, by Products, 2022-2030 (Value US$ Mn)
• Lighting Devices
• Hydroponic Components
• Climate Control Devices
• Sensing Devices
• Other Products
Global Vertical Farming Market, by Mechanism, 2022-2030 (Value US$ Mn)
• Hydroponics
• Aquaponics
• Aeroponics
Global Vertical Farming Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Vertical Farming Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Vertical Farming Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Vertical Farming Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Vertical Farming Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Vertical Farming Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global Vertical Farming market
 To receive an industry overview and future trends of the Vertical Farming market
 To analyze the Vertical Farming market drivers and challenges
 To get information on the Vertical Farming market value (US$Mn) forecast to 2030
 Significant investments, mergers & acquisitions in the Vertical Farming market industry

Read Overview Report- https://www.insightaceanalytic.com/report/global-vertical-farming-market/1278

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This release was published on openPR.