Vertical Farming Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Structure (Building Based, Container-Based), By Growing Mechanism (Hydroponics, Aeroponics, Aquaponics), By Crop Type (Leafy Green, Pollinated Plants, Nutraceutical Plants), By Component (Lighting, Hydroponic Component, Climate Control, Sensors, Others), By Application (Indoor, Outdoor)
Published Date: February - 2025 | Publisher: MIR | No of Pages: 320 | Industry: Agriculture | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationVertical Farming Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Structure (Building Based, Container-Based), By Growing Mechanism (Hydroponics, Aeroponics, Aquaponics), By Crop Type (Leafy Green, Pollinated Plants, Nutraceutical Plants), By Component (Lighting, Hydroponic Component, Climate Control, Sensors, Others), By Application (Indoor, Outdoor)
The global vertical farming market size was valued at USD 6.92 billion in 2023 and is expected to grow at a CAGR of 20.1% from 2023 to 2030.
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In 2019, Hydroponics made up around 51.33 % of the market value of indoor farming technology worldwide.
The increased demand for organic and high-quality foods has changed the production capacity of vertical farming businesses and given them a foundation to assure high-quality and quantity-authorized production to satisfy the growing needs. In addition, individuals have begun growing fruits and vegetables indoors, giving rise to the idea of indoor vertical farming resulting in the growth of global vertical farming market in the forecast period.
Increasing Demand for Healthy and Safe Food
Due to the rising need for nutritious and secure food, hydroponics is expected to experience exceptional growth. Growth in hydroponics is driven by expanding inventions to enhance the tastes and sustainability of fruits and vegetables. The demand for this kind of farming method is fueled by decreased water consumption and increased output potential.
For instance, according to United Nations Convention to Combat Desertification (UNCCD), due to an increase in urbanization annual loss of 1.6 to 3.3 million hectares of prime agricultural land between 2000 and 2030 is expected.
Download Free Sample Report Growing Demand for Container-Based Vertical Farming
The key advantages of container-based farming are that the entire operation of crop production is done in a container, making it simple to transport and requiring less land. In comparison to single-level agricultural land, this method of cultivation offers roughly eight times as much growing space, extending the time during which a city's food security is guaranteed.
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For instance, in November 2021, Bowery Farming built urban vertical farms, based on NASA's data-driven model, built into existing structures such as vacant warehouses.
Lighting will be the Key Component
In order to support vertical farming, the lighting system includes LED lights, pink lights, grow lights, grow light ballasts, grow light reflectors, and other kinds of artificial cultivation lights which save operating expenses and limit power usage. LED lighting systems are becoming more and more popular. LED lighting systems produce less heat than traditional light sources, making them perfect for agricultural settings.
Recent Developments
- In November 2022, AeroFarms and QFZA Announced the Middle East Expansion of AeroFarms with a New Commercial Indoor Vertical Farm in Qatar Free Zones.
- Bowery opened a new vertical farm in Pennsylvania in May 2022.
- In the Ica Maxi superstore in Linköping, Sweden, Swegreen debuted the "NextGen" of very effective in-store vertical farms in April 2021.
- In October 2020, Bright Farms assured USD100 million to expand its indoor farming.
Market Segmentation
Global Vertical Farming Market
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Key Market Players
- Signify (Netherlands),
- Freight Farms (US),
- AeroFarms (US),
- Sky Greens (Singapore),
- Osram (Germany),
- Spread (Japan),
- Plenty (US),
- Valoya (Finland),
- Everlight Electronics (Taiwan),
- Heliospectra AB (Sweden)
Company Profiles
AeroFarms LLC, AmHydro, Urban Crop Solutions, Bowery Farming Inc., Freight Farms, Inc., Crop One Holdings, Inc., Altius Farms, Inc., Plenty Unlimited Inc., Upward Enterprises Inc., Intelligent Growth Solutions Limited are some of the key players in the Global Vertical Farming Market.
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Attribute |
Details |
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Base Year |
2022 |
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Historic Data |
2018 – 2021 |
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Estimated Year |
2023 |
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Forecast Period |
2024 – 2028 |
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Quantitative Units |
Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
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Segments covered |
Structure Growing Mechanism Crop Type Component Application |
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Regional scope |
North America, Europe, Asia Pacific, South America, Middle East & Africa |
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Country scope |
United States; Mexico; Canada; France; Germany; United Kingdom; Spain; Italy; China; India; South Korea; Japan; Singapore; Brazil; Argentina; South Africa; Saudi Arabia; UAE |
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Key companies profiled |
AeroFarms LLC, AmHydro, Urban Crop Solutions, Bowery Farming Inc., Freight Farms, Inc., Crop One Holdings, Inc., Altius Farms, Inc., Plenty Unlimited Inc., Upward Enterprises Inc., Intelligent Growth Solutions Limited |
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Customization scope |
10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
|
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
|
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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