Vertical Farming Market Growth, Trends, Size, Revenue, Demand, Challenges and Future Outlook
Vertical Farming Market Size - By Component, By Structure, By Growth Mechanism - Regional Outlook, Competitive Strategies and Segment Forecasts to 2030
| Published: Nov-2022 | Report ID: AGRI2205 | Pages: 1 - 256 | Formats*: |
| Category : Agriculture | |||
Vertical Farming Market Introduction and Overview
According to SPER Market Research, the Global Vertical Farming Market is estimated to reach USD 22.77 billion by 2030 with a CAGR of 24.8%.
The report includes an in-depth analysis of the global Vertical Farming market, including market size and trends, Procedure mix, distribution channels, and supplier analysis. Vertical agriculture is the practise of constructing farms vertically. As a result, greater production may now be done on a small plot of land. It is a non-traditional crop growing method that provides easy harvesting, negligible climatic effects, good yield, minimal pesticide use, less space required, and minimal water consumption.
- Increased consumer demand for organic products, spurred by a greater standard of living and more disposable income, cleared the path for the development of vertical farming, where organic farming is commonly practised. People are cultivating the necessary crops on a modest scale in their own homes in order to obtain pest-free meals.
- Vertical farming addresses the growing concerns over food security by offering a sustainable solution to produce fresh food in urban areas. As the global population continues to grow, vertical farming provides a means to produce food locally and reduce reliance on traditional agricultural methods.
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Market Opportunities and Challenges
The global vertical farming market has witnessed substantial growth driven by multiple factors. The rising demand for food security, particularly in urban areas, has fuelled the adoption of vertical farming as a sustainable solution. Additionally, the scarcity of arable land due to urbanization and soil degradation has made vertical farming appealing, as it allows for controlled cultivation in indoor environments. The increasing urbanization trend has further boosted the demand for locally grown food, reducing transportation costs and emissions. Technological advancements, including LED lighting, hydroponics, and automation, have significantly enhanced efficiency, productivity, and economic viability of vertical farming systems.
However, the global vertical farming market faces challenges including high initial investment costs for infrastructure, energy consumption, and operational costs. Managing energy usage while maintaining optimal growing conditions can be difficult, especially in regions with high energy prices. The technological complexity of precision agriculture systems, AI, and data analytics requires specialized expertise that may not be readily available or affordable for all operators. A shortage of skilled personnel further complicates the efficient operation and maintenance of vertical farms. Overcoming these challenges will require innovation, cost optimization, and access to expertise and skilled labour.
Market Competitive Landscape
The global vertical farming is characterized by high competition, with multiple players operating in the industry. The key players in the global vertical farming market include AeroFarms, Agrilution GmbH, Altius Farms, American Hydroponics, BrightFarms Inc., Everlight Electronics Co., Ltd., Freight Farms, Future Crops, Green Sense Farms, LLC, GrowUp Urban Farms Ltd., Illumitex, Inc., Vertical Farm Systems, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2030 |
| Base year considered | 2021 |
| Forecast period | 2022-2030 |
| Segments covered | By Component, By Structure, By Growth Mechanism |
| Geographies covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe. |
| Companies Covered | Altius Farms, BrightFarms Inc., Green Sense Farms, LLC, Vertical Farm Systems, Freight Farms, Future Crops, Illumitex, Inc., Agrilution GmbH, GrowUp Urban Farms Ltd., American Hydroponics, Everlight Electronics Co., Ltd., AeroFarms, Others. |
COVID-19 Impact on Global Vertical Farming Market
The COVID-19 pandemic has had mixed impacts on the global vertical farming market. It has led to an increased demand for locally produced food due to vulnerabilities in global supply chains. Disruptions in traditional food supply chains have highlighted the reliability of vertical farming in providing fresh produce. Growing concerns about food safety have also driven consumer interest in the controlled environment of vertical farms. Additionally, the pandemic has accelerated the adoption of automation and remote monitoring technologies in vertical farming, improving operational efficiency and reducing dependence on manual labour.
Key Target Audience
- Agricultural and Food Industry Players
- Consumers
- Investors and Financial Institutions
- Restaurant Chains and Catering Companies
- Technology and Equipment Suppliers
- Urban Developers and Real Estate Companies
- Others
Our in-depth analysis of the Vertical Farming Market ludes the following segments:
| By Component |
|
| By Structure |
|
| By Growth Mechanism |
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Key Topics Covered in the Report
- Global Vertical Farming Market Size (FY’2022-FY’2030)
- Overview of Global Vertical Farming Market
- Segmentation of Global Vertical Farming Market By Component (Glass greenhouse, Plastic greenhouse, Others)
- Segmentation of Global Vertical Farming Market By Structure (Container-based Vertical Farms, Building-based Vertical Farms)
- Segmentation of Global Vertical Farming Market By Growth Mechanism (Hydroponics, Aeroponics, Aquaponics)
- Statistical Snap of Global Vertical Farming Market
- Expansion Analysis of Global Vertical Farming Market
- Problems and Obstacles in Global Vertical Farming Market
- Competitive Landscape in the Global Vertical Farming Market
- Impact of COVID-19 and Demonetization on Global Vertical Farming Market
- Details on Current Investment in Global Vertical Farming Market
- Competitive Analysis of Global Vertical Farming Market
- Vital Players in the Global Vertical Farming Market
- SWOT Analysis of Global Vertical Farming Market
- Global Vertical Farming Market Future Outlook and Projections (FY’2022-FY’2030)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data2.1.2 Primary data2.1.3 SPER’s internal database2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers4.1.2 Restraints4.1.3 Opportunities4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Vertical Farming Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths5.1.2 Weaknesses5.1.3 Opportunities5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape5.2.2 Economic landscape5.2.3 Social landscape5.2.4 Technological landscape5.2.5 Environmental landscape5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers5.3.2 Bargaining power of Buyers5.3.3 Threat of Substitute5.3.4 Threat of new entrant5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Global Vertical Farming Market, By Component, 2019-2030 (USD Million)
6.1. Irrigation Component6.2. Lighting6.3. Sensor6.4. Climate Control6.5. Building Material
6.5.1. Glass greenhouse6.5.2. Plastic greenhouse
6.6. Others
7. Global Vertical Farming Market, By Structure, 2019-2030 (USD Million)
7.1. Building-based Vertical Farms7.2. Container-based Vertical Farms
8. Global Vertical Farming Market, By Growth Mechanism, 2019-2030 (USD Million)
8.1. Hydroponics8.2. Aeroponics8.3. Aquaponics
9. Global Vertical Farming Market, By Region, 2019-2030 (USD Million)
9.1 North America
9.1.1. United States9.1.2. Canada9.1.3. Mexico
9.2 Europe
9.2.1. Germany9.2.2. United Kingdom9.2.3. France9.2.4. Italy9.2.5. Spain9.2.6. Rest of Europe
9.3 Asia-Pacific
9.3.1. China9.3.2. Japan9.3.3. India9.3.4. Australia9.3.5. South Korea9.3.6. Rest of Asia-Pacific
9.4 South America
9.4.1. Brazil9.4.2. Argentina9.4.3. Rest of South America
9.5 Middle East & Africa
9.5.1. Kingdom of Saudi Arabia9.5.2. United Arab Emirates9.5.3. Rest of Middle East & Africa
10. Company Profiles
10.1 AeroFarms
10.1.1. Company details10.1.2. Financial outlook10.1.3. Product summary10.1.4. Recent developments
10.2 Agrilution GmbH
10.2.1. Company details10.2.2. Financial outlook12.2.1. Product summary12.2.2. Recent developments
10.3 Altius Farms
10.3.1. Company details10.3.2. Financial outlook10.3.3. Product summary10.3.4. Recent developments
10.4 American Hydroponics
10.4.1. Company details10.4.2. Financial outlook10.4.3. Product summary10.4.4. Recent developments
10.5 Brightfarms Inc.
10.5.1. Company details10.3.2. Financial outlook10.3.3. Product summary10.3.4. Recent developments
10.6 Everlight Electronics Co., Ltd.
10.6.1. Company details10.6.2. Financial outlook10.6.3. Product summary10.6.4. Recent developments
10.7 Freight Farms
10.7.1. Company details10.7.2. Financial outlook10.7.3. Product summary10.7.4. Recent developments
10.8 Future Crops
10.8.1. Company details10.8.2. Financial outlook10.8.3. Product summary10.8.4. Recent developments
10.9 Green Sense Farms, LLC
10.9.1. Company details10.9.2. Financial outlook10.9.3. Product summary10.9.4. Recent developments
10.10 GrowUp Urban Farms Ltd.
10.10.1. Company details10.10.2. Financial outlook10.10.3. Product summary10.10.4. Recent developments
10.11 Illumitex, Inc.
10.11.1. Company details10.11.2. Financial outlook10.11.3. Product summary10.11.4. Recent developments
10.12 Vertical Farm Systems
10.12.1. Company details10.12.2. Financial outlook10.12.3. Product summary10.12.4. Recent developments
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
The Vertical Farming Market grew in market size from 2021. The Market is expected to reach USD 22.77 billion by 2030, at a CAGR of 24.8% during the forecast period.
The Vertical Farming Market segment is Covered By Components, By Structure, By Growth Mechanisms.
The North America region is anticipated to have the highest market share in the Vertical Farming Market.
The key players in the market include Companies Covered AeroFarms, Agrilution GmbH, Altius Farms, American Hydroponics, Brightfarms Inc., Everlight Electronics Co., Ltd., Freight Farms, Future Crops, Green Sense Farms, LLC, GrowUp Urban Farms Ltd., Illumitex, Inc., Vertical Farm Systems.
The rise in popularity of organic food, the optimal utilization of vertical space and balanced energy consumption, crop monitoring and harvesting convenience, and the reduction in arable land are the primary forces impacting vertical farming sector growth.
The Vertical Farming Market is projected to reach USD 22.77 billion by 2030, growing at a CAGR of 24.8% during the forecast period.
The Vertical Farming Market CAGR of 24.8% during the forecast period.
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The Vertical Farming Market size is USD 22.77 billion from 2022 to 2030.
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