Vertical Farming Market, By Component (Climate control, lighting, Irrigation component, sensor, building material and others), By Structure (building based and shipping container), By Mechanism (Hydroponics, Aquaponics and Aeroponics ), By Application (Indoor and Outdoor) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2034

Report Code: PMI470021 | Publish Date: March 2024 | No. of Pages: 180

Global Vertical Farming Market Overview

Vertical Farming Market was valued at US$ 7.7 Billion in 2024 and is projected to grow at a CAGR of 26.40% to reach US$ 65.2 Billion by 2034.

Vertical farming is a cutting-edge method of growing food and medicinal plants in vertically stacked layers, such as in a skyscraper, a repurposed factory, or a shipping container. Vertical farming is a form of indoor and outdoor farming where food and medicinal plants are grown. Even in adverse climatic conditions, vertical farming is successful at ensuring crop production stability and reliability. Metal reflectors and artificial lighting are used in vertical farming to enhance natural light. Vertical farming is also capable of feeding 75 times more people per square foot than conventional farming, allowing it to feed more people. In comparison to conventional farming, Vertical Farms does not use pesticides or fungicides, and by regulating plant fertilisation, the food produced is highly nutritious.

Impact of Covid-19 pandemic on market

The vertical farming supply chain has been impacted by the Covid-19 outbreak. The foodservice industry has plummeted due to the closing of restaurants, catering, and hospitality in most parts of the world. Companies, on the other hand, have begun to use the E-commerce site for consumer purchases. Increased consumer demand for organic goods, fueled by a higher standard of living and disposable income, has paved the way for the growth of vertical farming, where organic farming is widely practised.

Global Vertical Farming Market Dynamics

Growth in business operations by emerging and small sized players

Growing urbanisation, rising demand for high-quality food, and technological advances in agriculture techniques are some of the major factors influencing the global vertical farming industry's development. The global vertical farming market is expected to grow as consumers become more concerned about organic food as a result of rising health concerns. Vertically grown organic food does not contain any chemicals that are harmful to humans or the environment, and as a result, diseases like cancer and diabetes can be avoided. Vertical farming market growth is aided by optimal use of vertical space and balanced energy use. The technology used in this farming allows for the tracking of plant growth and harvesting, which pushes market growth even further.

Access Crucial Insights at a Fraction of the Cost | Request Your Discount

Global Vertical Farming Market Segmentation

The Vertical Farming market is segmented based on component, structure, mechanism, and region.

On the basis of component, the vertical farming market is segmented into climate control, lighting, Irrigation component, sensor, building material and others. Based on structure, the target market is segmented into building based and shipping container. On the basis of mechanism, the target market is segmented into Hydroponic, Aquaponics and Aeroponics. On the basis of Application, the target market is segmented into Indoor and Outdoor.

Regional Insights:

On region the Vertical Farming market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is expected to lead the market. This is mainly attributed due to Increasing food demand, urbanisation, unfavourable weather conditions for traditional farming, the need to reduce fresh produce imports, and the need for new profitable farming activities are all expected to drive the vertical farming market in Europe. The vast majority of the top vertical farming companies have global operations and are based in Europe.

Reduce costs by up to 30% with a custom report tailored to your specific needs | Request Customized Report

Report Scope:

Attribute

Details

Base year for estimation

2023

Forecast period

2024 – 2034

Market representation

Revenue in USD Million & CAGR from 2024 – 2034

Market Segmentation

By Technology- climate control, lightning, Irrigation component, sensor, building material and others

By Structure– Building based and shipping container

By Mechanism– Hydroponics, Aquaponics and Aeroponics

By Application- Indoor and Outdoor

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global vertical farming market report based on technology, structure, mechanism, application, and region.

Vertical Farming Market, By Region:

      • North America
          • U.S.
          • Canada
      • Europe
          • Germany
          • UK
          • France
          • Russia
          • Italy
          • Rest of Europe
      • Asia Pacific
          • China
          • India
          • Japan
          • South Korea
          • Rest of Asia Pacific
      • Latin America
          • Brazil
          • Mexico
          • Rest of Latin America
      • Middle East & Africa
          • GCC
          • Israel
          • South Africa
          • Rest of Middle East & Africa

Global Vertical Farming Market Key Players

The key players operating in the vertical farming market includes  Aerofarms, Green sense Farms Holding Inc., 4Dbios Inc., Agrilution, AMHYDRO, Everlight Electronics Co.Ltd., Koninklijke philips N.V., Hort Americas, Illumitex Inc., Sky Greens, plantagon International,  Plenty Unlimited Inc. and Thrive Agritech.

Global Vertical Farming Market Company Profile

  • Aerofarms
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Green Sense Farms Holdings, Inc.
  • 4D Bios, Inc.
  • Agrilution
  • AMHYDRO
  • EVERLIGHT ELECTRONICS CO., LTD.
  • Koninklijke Philips N.V.
  • Hort Americas
  • Illumitex Inc.
  • Sky Greens
  • Plantagon International
  • PLENTY UNLIMITED INC
  • Thrive Agritech.

 “*” marked represents similar segmentation in other categories in the respective section

Global Vertical Farming Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Purview
    • Executive Summary
    • Key Findings—Global Outlook for Vertical Farming Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Component
      • Market Snippet, By Structure
      • Market Snippet, By Mechanism
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Global Vertical Farming Market, By Component,  2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Climate control
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Lighting
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Irrigation component
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Sensor
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Building material
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Others
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  6. Global Vertical Farming Market, By Structure, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Building based
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Shipping container
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  7. Global Vertical Farming, Market, By Mechanism,  2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Hydroponics
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Aquaponics
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Aeroponics
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  8. Global Vertical Farming Market, By Application, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Indoor
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Outdoor
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  9. Global Vertical Farming Market, By Region, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Technology, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Patients, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Technology, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Patients, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • UK
        • France
        • Germany
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Technology, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Patients, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • India
        • Japan
        • South Korea
        • China
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Technology, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Patients, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Technology, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Patients, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  10. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  11. Company Profiles
  • Aerofarms
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Green Sense Farms Holdings, Inc.
  • 4D Bios, Inc.
  • Agrilution
  • AMHYDRO
  • EVERLIGHT ELECTRONICS CO., LTD.
  • Koninklijke Philips N.V.
  • Hort Americas
  • Illumitex Inc.
  • Sky Greens
  • Plantagon International
  • PLENTY UNLIMITED INC
  • Thrive Agritech.

The Last Word

    • Future Impact
    • About Us
    • Contact

FAQs

The vertical farming market is segmented based on component, structure, mechanism, application, and region.

Growing urbanisation, rising demand for high-quality food, and technological advances in agriculture techniques are some of the major factors influencing the vertical farming industry's development.

Europe is expected to lead the market. This is mainly attributed due to Increasing food demand, urbanisation, unfavourable weather conditions for traditional farming, the need to reduce fresh produce imports, and the need for new profitable farming activities are all expected to drive the vertical farming market in Europe.

Companies are continuously rising the production and supply. Aerofarms and 4D Bios Inc. are some of the major key players in the market.