- Hydroponics
- Aeroponics
- Aquaponics
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).
Study Period
Base Year
CAGR
Largest Market
Fastest Growing Market
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.
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
North America is is the fastest-growing region for vertical farming market
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 |