Vertical Farming Market: Global Market Estimation, Dynamics, Trends, Competitor Analysis 2016-2021 and Forecast 2022-2028

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Vertical Farming Market: By Component (Lighting, Hydroponic Components, Climate Control, Sensors Others) Structure (Shipping Container, Building-based) Mechanism (Hydroponics, Aeroponics, Aquaponics) Crop Type (Fruits and Vegetables, Leafy Greens, Nutraceutical Plants Others) and Geography

 

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Report

Description

Vertical Farming Market size was valued at USD 4.7 billion in 2021 and is expected to reach USD 16.7 billion by 2028, at a CAGR of 23.3% during the forecast period 2022-2028. Due to the increase in population lead to increase in demand for food, lower dependency of farming on weather conditions, lesser use of water for cultivation of crops, ability to produce high quality crops throughout the year. Moreover, the increase in adaptation of vertical farming through which organic and chemical free crops can be grown in artificially controlled environments is driving the growth of the global vertical farming market over the forecast timeframe. Vertical farming is the process of growing vegetables and food on vertically inclined surfaces rather than on a single level, such as in a field or a greenhouse. Foods are manufactured in vertically stacked layers in this technology, which is typically integrated into other structures like a skyscraper, cargo container, or old warehouse. Modern vertical farming concepts emphasise the use of indoor farming techniques and controlled-environment agriculture (CEA) technologies to regulate all environmental conditions. Producing meals and vegetables indoors is possible thanks to the artificial regulation of light, temperature, humidity, and gases. Vertical farming’s main purpose is to enhance crop yield in a controlled environment. The report studies global vertical farming market dynamics elaborately to indentify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global vertical farming market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities).

Vertical Farming Market

MARKET SUMMARY
-
23.3%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR–23.3%
  • Largest Market– Asia Pacific
  • Fastest Growing Market–  North America

Vertical Farming Market

  • The global vertical farming market report gives comprehensive outlook on vertical farming market across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
  • The report on global vertical farming market gives historical, current, and future market sizes (US$ Bn) on the basis of Growing Mechanism, Component, Structure, End User, and region.
  • Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global vertical farming market products & services.
Key Players
  • AeroFarms
  • Illumitex, Inc.
  • American Hydroponics
  • Sky Urban Solutions
  • Green Sense Farms, LLC
  • Agrilution GmbH
Vertical Farming Market

DRIVERS AND RESTRAINTS

Increase in the world population is a key factor drive the global vertical farming market. The increasing population worldwide has resulted in significant increase in food demand. Due to various reasons like lack of water, lack of proper environmental conditions the crop production in getting decreased. According to UNO, 55% of the total world population live in urban areas and it is expected to reach 65% by 2050. Majority of the people who live in rural areas depends on agriculture but the population is getting decreased due to various reasons so that the production is getting decreased and the demand is getting increased. Vertical farming permits farmers to harvest fresh organic crops in ever-growing cities with additional advantages of high yield and low water requirement. Traditional farmers use pesticides to achieve higher yield and use preservatives to keep the food fresh, as they deliver it to cities. However, rise in demand for fresh, local, and organic food has enhanced the growth of the vertical farming market.


North-America Got Significant Share

Vertical Farming Market

North America accounted for larger revenue share in global vertical farming market with significant CAGR. Owing to increasing concerns towards food security and nutrition, rise in popularity of organic food, increase in urban population, and decrease in arable lands. Asia pacific vertical farming market projected to grow at significant rate owing to increase in the urban population, increase in demand for chemical free food, lack of proper environmental conditions for the production of various crops and enhanced awareness regarding organic farming.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • Global market expanding at significant CAGR over 2022 to 2028 owing to increase in the prevalence of usage of internet.
  • Based on growing mechanism, hydroponics market accounted for larger market revenue share in 2020 and projected gain market revenue share over the forecast period.
  • Players focusing on innovation of newer products & services and collaboration strategies to retain market position in global vertical farming market
Vertical Farming Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The vertical farming market is projected to expand at a CAGR of23.3%23.3%

  • AeroFarms
  • Illumitex, Inc.
  • American Hydroponics
  • Sky Urban Solutions
  • Green Sense Farms, LLC
  • Agrilution GmbH

during the forecast period.

AeroFarms, Illumitex, Inc, American Hydroponics, Sky Urban Solutions, Green Sense Farms, LLC, Agrilution GmbH

North America is is the fastest-growing region for vertical farming market


Report

Table Of Content

1. Executive Summary
2. Global Vertical Farming Market Introduction
2.1. Global Vertical Farming Market – Taxonomy
2.2. Global Vertical Farming Market –Definitions
2.2.1. Component
2.2.2. Structure
2.2.3. Mechanism
2.2.4. Crop Type
2.2.5. By Region
3. Global Vertical Farming Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Vertical Farming Market Dynamic Factors – Impact Analysis
3.6. Global Vertical Farming Market – Competition Landscape
4. Global Vertical Farming Market Analysis, 2017-2021 and Forecast, 2022-2028
4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Vertical Farming Market, By Component, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.1. Lighting
5.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Hydroponic Components
5.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
5.3. Climatic Control
5.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
5.4. Sensors
5.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.4.3. Market Opportunity Analysis
5.5. Others
5.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.5.3. Market Opportunity Analysis
6. Global Vertical Farming Market, By Structure, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.1. Shipping Container
6.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Building-based
6.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
7. Global Vertical Farming Market, By Mechanism, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.1. Hydroponics
7.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Aeroponics
7.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Aquaponics
7.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
8. Global Vertical Farming Market, By Crop Type, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.1. Fruits and Vegetables
8.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Leafy Vegetables
8.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Nutraceutical Plants
8.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Others
8.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
9. Global Vertical Farming Market Forecast, By Region, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.1. North America
9.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.1.3. Market Opportunity Analysis
9.2. Europe
9.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.2.3. Market Opportunity Analysis
9.3. Asia-Pacific
9.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.3.3. Market Opportunity Analysis
9.4. Latin America
9.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.4.3. Market Opportunity Analysis
9.5. Middle East and Africa
9.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.5.3. Market Opportunity Analysis
9.6. Global Vertical Farming Market – Opportunity Analysis Index, By Component, By Structure, By Mechanism, By Crop Type, and Region, 2022-2028
10. North America Vertical Farming Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
10.1. Component Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Lighting
10.1.2. Hydroponic Components
10.1.3. Climate Control
10.1.4. Sensors
10.1.5. Others
10.2. Structure Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. Shipping Container
10.2.2. Building-based
10.3. Mechanism Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.3.1. Hydroponics
10.3.2. Aeroponics
10.3.3. Aquaponics
10.4. Crop Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.4.1. Fruits and Vegetables
10.4.2. Leafy Greens
10.4.3. Nutraceutical Plants
10.4.4. Others
10.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.5.1. USA
10.5.2. Canada
10.6. North America Vertical Farming Market – Opportunity Analysis Index, By Component, By Structure, By Mechanism, By Crop Type, and Country, 2022-2028
10.7. North America Vertical Farming Market Dynamics – Trends
11. Europe Vertical Farming Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
11.1. Component Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Lighting
11.1.2. Hydroponic Components
11.1.3. Climate Control
11.1.4. Sensors
11.1.5. Others
11.2. Structure Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. Shipping Container
11.2.2. Building-based
11.3. Mechanism Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.3.1. Hydroponics
11.3.2. Aeroponics
11.3.3. Aquaponics
11.4. Crop Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.4.1. Fruits and Vegetables
11.4.2. Leafy Greens
11.4.3. Nutraceutical Plants
11.4.4. Others
11.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.5.1. Germany
11.5.2. UK
11.5.3. France
11.5.4. Spain
11.5.5. Italy
11.5.6. Rest of Europe
11.6. Europe Vertical Farming Market – Opportunity Analysis Index, By Component, By Structure, By Mechanism, By Crop Type, and Country, 2022-2028
11.7. Europe Vertical Farming Market Dynamics – Trends
12. Asia-Pacific Vertical Farming Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
12.1. Component Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Lighting
12.1.2. Hydroponic Components
12.1.3. Climate Control
12.1.4. Sensors
12.1.5. Others
12.2. Structure Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. Shipping Container
12.2.2. Building-based
12.3. Mechanism Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.3.1. Hydroponics
12.3.2. Aeroponics
12.3.3. Aquaponics
12.4. Crop Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.4.1. Fruits and Vegetables
12.4.2. Leafy Greens
12.4.3. Nutraceutical Plants
12.4.4. Others
12.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.5.1. China
12.5.2. India
12.5.3. Japan
12.5.4. ASEAN
12.5.5. Australia & New Zealand
12.5.6. Rest of Asia-Pacific
12.6. Asia-Pacific Vertical Farming Market – Opportunity Analysis Index, By Component, By Structure, By Mechanism, By Crop Type, and Country, 2022-2028
12.7. Asia-Pacific Vertical Farming Market Dynamics – Trends
13. Latin America Vertical Farming Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
13.1. Component Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. Lighting
13.1.2. Hydroponic Components
13.1.3. Climate Control
13.1.4. Sensors
13.1.5. Others
13.2. Structure Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.2.1. Shipping Container
13.2.2. Building-based
13.3. Mechanism Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.3.1. Hydroponics
13.3.2. Aeroponics
13.3.3. Aquaponics
13.4. Crop Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.4.1. Fruits and Vegetables
13.4.2. Leafy Greens
13.4.3. Nutraceutical Plants
13.4.4. Others
13.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.5.1. Brazil
13.5.2. Mexico
13.5.3. Rest of Latin America
13.6. Latin America Vertical Farming Market – Opportunity Analysis Index, By Component, By Structure, By Mechanism, By Crop Type, and Country, 2022-2028
13.7. Latin America Vertical Farming Market Dynamics – Trends
14. Middle East and Africa Vertical Farming Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
14.1. Component Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.1.1. Lighting
14.1.2. Hydroponic Components
14.1.3. Climate Control
14.1.4. Sensors
14.1.5. Others
14.2. Structure Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.2.1. Shipping Container
14.2.2. Building-based
14.3. Mechanism Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.3.1. Hydroponics
14.3.2. Aeroponics
14.3.3. Aquaponics
14.4. Crop Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.4.1. Fruits and Vegetables
14.4.2. Leafy Greens
14.4.3. Nutraceutical Plants
14.4.4. Others
14.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
14.5.1. Gulf Cooperation Council (GCC) Countries
14.5.2. South Africa
14.5.3. Rest of MEA
14.6. MEA Vertical Farming Market – Opportunity Analysis Index, By Component, By Structure, By Mechanism, By Crop Type, and Country, 2022-2028
14.7. MEA Vertical Farming Market Dynamics – Trends
15. Competition Landscape 
15.1. Strategic Dashboard of Top Market Players
15.2. Company Profiles (Introduction, Financial Analysis, Key Components, Key Developments, Strategies, and SWOT Analysis)
15.2.1. AeroFarms
15.2.2. Illumitex, Inc.
15.2.3. American Hydroponics
15.2.4. Agrilution GmbH
15.2.5. Brightfarms Inc.
15.2.6. Everlight Electronics Co., Ltd.
15.2.7. Freight Farms
15.2.8. GrowUp Urban Farms Ltd.
15.2.9. Green Sense Farms, LLC
15.2.10. Vertical Farm Systems
16. Research Methodology
17. Key Assumptions and Acronyms

Report

Company Profile

  • AeroFarms
  • Illumitex, Inc.
  • American Hydroponics
  • Agrilution GmbH
  • Brightfarms Inc.
  • Everlight Electronics Co., Ltd.
  • Freight Farms
  • GrowUp Urban Farms Ltd.
  • Green Sense Farms, LLC
  • Vertical Farm Systems

Description

Vertical Farming Market size was valued at USD 4.7 billion in 2021 and is expected to reach USD 16.7 billion by 2028, at a CAGR of 23.3% during the forecast period 2022-2028. Due to the increase in population lead to increase in demand for food, lower dependency of farming on weather conditions, lesser use of water for cultivation of crops, ability to produce high quality crops throughout the year. Moreover, the increase in adaptation of vertical farming through which organic and chemical free crops can be grown in artificially controlled environments is driving the growth of the global vertical farming market over the forecast timeframe. Vertical farming is the process of growing vegetables and food on vertically inclined surfaces rather than on a single level, such as in a field or a greenhouse. Foods are manufactured in vertically stacked layers in this technology, which is typically integrated into other structures like a skyscraper, cargo container, or old warehouse. Modern vertical farming concepts emphasise the use of indoor farming techniques and controlled-environment agriculture (CEA) technologies to regulate all environmental conditions. Producing meals and vegetables indoors is possible thanks to the artificial regulation of light, temperature, humidity, and gases. Vertical farming’s main purpose is to enhance crop yield in a controlled environment. The report studies global vertical farming market dynamics elaborately to indentify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global vertical farming market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities).

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