Press release
Vertical Farming Market Forecasted to Reach USD 39.72 Billion by 2032 with a 25.7% CAGR, Driven by Urban Agriculture
Vertical Farming Market
According to a new report by Maximize Market Research, the global Vertical Farming Market was valued at USD 6.37 Billion in 2024 and is projected to reach nearly USD 39.72 Billion by 2032, growing at a CAGR of 25.7%. The market growth is driven by urbanization, technological advancements, and consumer preference for locally sourced, fresh produce across regions worldwide.
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Key Highlights:
Market Size & CAGR: USD 6.37 Billion in 2024; CAGR of 25.7% (2025-2032)
Leading Segment: Controlled Environment Agriculture (CEA) with hydroponics and aeroponics
Fastest-Growing Region: North America, driven by technological adoption and organic food demand
Key Drivers: Population growth, urbanization, limited cultivable land, and sustainable agriculture trends
Top Companies: AeroFarms, Plenty, Bowery Farming, Spread Co., and iFarm
Market Outlook
Vertical farming leverages vertically stacked layers to grow crops in controlled indoor environments, maximizing land use and reducing water and pesticide use. The integration of technologies such as LED lighting, HVAC systems, smart sensors, and robotics is enhancing operational efficiency, enabling year-round crop cultivation, and supporting sustainable urban agriculture initiatives.
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Regional Insights
North America leads in vertical farming adoption due to high consumer demand for organic produce and technological readiness. Europe and Asia-Pacific are witnessing significant growth, supported by urban population density and increasing investments in innovative farming solutions.
Key Players
Major players such as AeroFarms, Plenty, Bowery Farming, Spread Co., and iFarm are focusing on automation, IoT integration, and expansion into new regions to strengthen their market position. Strategic partnerships and technology innovations are expected to drive competitive advantage.
Interested in market trends? Don't miss the research report summary for valuable information: https://www.maximizemarketresearch.com/market-report/global-vertical-farming-market/15221/
Quote:
Vertical farming represents a transformative approach to sustainable agriculture," said an industry analyst. "With increasing urbanization and diminishing farmland, the market is poised for rapid growth as technology and consumer demand converge.
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Farming in urban areas has become quite difficult due to the rising population, limited space, a fast pace of living, etc. which are driving the new technologies for cultivating the agricultural produce. Vertical Farming is one of the modern and advanced technologies which helps in growing more food in smaller spaces, offering an opportunity for growing fruits and vegetables in a controlled environment in metropolitan areas.
Vertically grown crops require minimum…
