Global Vertical Farming Market
The global vertical farming market size was valued at USD 4.34 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 25.5% from 2022 to 2030.
In terms of farm mechanization, irrigation methods, and the simplicity of loan availability, farming has significantly advanced throughout time. Providing food and raw materials as well as job opportunities for a substantial percentage of the people, it today acts as the foundation of the Indian economy. Farming continues to make a considerable contribution to the nation’s Gross Domestic Product despite the advent of industrialization and impressive expansion in other industries (GDP). To cultivate food products, it mostly requires growing crops and maintaining livestock.
Report Overview:
The market’s expansion is linked to the rising popularity of producing fruits and vegetables in an environmentally responsible manner. The demand for urban agriculture has grown as a result of the extraordinary rise in world population. The practice of growing food in vertical stacks, such as in a disused warehouse, a shipping container, is known as vertical farming. Organic food is thought to be more wholesome, safe, and environmentally beneficial. Consumer food purchasing habits are a significant component that affects the demand for organic food, making it crucial for producers, legislators, and suppliers to execute effective marketing strategies.
Consumers frequently experience health problems related to obesity and heart disease. Additionally, traditional growers have been forced to switch to alternative farming practices due to the growing groundwater shortage and changing climatic circumstances. The issues listed above and growing consumer health concerns are likely to boost industry demand. Contrary to traditional farming, indoor farming may grow crops all year round, increasing output. Furthermore, by using techniques like controlled environment agriculture technology, where facilities use artificial environmental control, regulation of light, and fertigation, indoor farming can shield crops from extreme weather conditions.
Stacking farms vertically is referred to as vertical agriculture. Because of this, small land may now be used for greater productivity. It is a novel way of crop growing that allows for simple harvesting, little climatic impact, great yield, little need for pesticides, small area requirements, and low water use. For instance, vertical farming may save 200 tonnes of water every day and is equivalent to nine hectares of conventional outdoor farming. The rise in popularity of organic food, the best use of vertical space and balanced energy use, the convenience of crop monitoring and harvesting, and the decline in arable land are the key drivers influencing the vertical farming industry growth. However, the market’s expansion is hampered by high beginning costs and the use of emerging technology. However, the vertical farming industry players should anticipate to benefit greatly from the expanding urban population and the rapid uptake of technology-driven agriculture.
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Global Vertical Farming Market: Segmentations
Global Vertical Farming Market: By Key Players
AeroFarms
Gotham Greens
Plenty (Bright Farms)
Lufa Farms
Beijing IEDA Protected Horticulture
Green Sense Farms
Garden Fresh Farms
Mirai
Sky Vegetables
TruLeaf
Urban Crops
Sky Greens
GreenLand
Scatil
Jingpeng
Metropolis Farms
Plantagon
Spread
Sanan Sino Science
Nongzhong Wulian
Vertical Harvest
Infinite Harvest
FarmedHere
Metro Farms
Green Spirit Farms
Indoor Harvest
Sundrop Farms
Alegria Fresh
Farmbox
Greener Roots Farm
Global Vertical Farming Market: By Types
Hydroponics
Aeroponics
Global Vertical Farming Market: By Applications
Vegetable Cultivation
Fruit Planting
Global Vertical Farming Market: Regional Analysis
The countries covered in the regional analysis of the Global Vertical Farming market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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Rising demand for genetically modified seeds, as well as rising consumer preferences for organic and specialty products, will contribute to the growth of the vertical farming market over the forecasted timeframe. Furthermore, the market is being driven by an increase in the number of agreements between corporate companies and farmers for the supply and production of agricultural products. Aside from that, organic products are considered safer than conventional products because they are not grown with chemically laden pesticides and are better for the environment.
This vertical farming market report details recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, and the impact of domestic and localized market players. It also analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic data, and other market-related information. Contact Market for an Analyst Brief to learn more about the vertical farming market. Our staff will assist you in making an informed choice to build your market.
Key Benefits For Stakeholders
1. This study comprises analytical depiction of the global vertical farming market size along with the current trends and future estimations to depict the imminent investment pockets.
2. The overall vertical farming market analysis is determined to understand the profitable trends to gain a stronger foothold.
3. The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
4. Porter’s five forces analysis illustrates the potency of the buyers and the vertical farming market share of key vendors.
5. The report includes the vertical farming industry trends and the market share of key vendors.
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