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

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Global Vertical Farming Market: By Growing Mechanism (Hydroponics, Aeroponics, and Aquaponics), Component (Irrigation Component, Lighting, Sensor, Climate Control, Building Material, Others), Structure (Building-based Vertical Farms, Shipping Container-based Vertical Farms), Crop Type (Fruits and Vegetables, Herbs and Microgreens, Flowers and Ornamentals, Other Crop Types), 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

Findings 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

Key

Features of the Report

Vertical Farming Market Segmentation


Location

GEOGRAPHY


Report

Table Of Content

  1. Executive Summary
  2. Global Vertical Farming Market Introduction
    • Global Vertical Farming Market – Taxonomy
    • Global Vertical Farming Market –Definitions
      • Growing Mechanism
      • Component
      • Structure
      • Crop Type
  1. Global Vertical Farming Market Dynamics
    • Drivers
    • Restraints
    • Opportunities/Unmet Needs of the Market
    • Trends
    • Global Vertical Farming Market Dynamic Factors – Impact Analysis
    • Global Vertical Farming Market – Competition Landscape
  2. Global Vertical Farming Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026
    • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Year-over-Year (Y-o-Y) Growth Analysis (%)
    • Market Opportunity Analysis
  3. Global Vertical Farming Market, By Growing Mechanism, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Hydroponics
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Aeroponics
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Aquaponics
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Vertical Farming Market Forecast, By Component, 2015 – 2019 and Forecast, 2020 – 2026
    • Irrigation Component
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Lighting
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Sensor
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Climate Control
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Building Material
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Others
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Vertical Farming Market Forecast, By Structure, 2015 – 2019 and Forecast, 2020 – 2026
    • Building-based Vertical Farms
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Shipping Container-based Vertical Farms
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Vertical Farming Market Forecast, By Crop Type, 2015 – 2019 and Forecast, 2020 – 2026
    • Fruits and Vegetables
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Herbs and Microgreens
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Flowers and Ornamentals
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Other Crop Types
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Vertical Farming Market Forecast, By Region, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Europe
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Asia-Pacific
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Latin America
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Middle East and Africa
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Global Vertical Farming Market – Opportunity Analysis Index, By Growing Mechanism, Component, Crop Type, and Region, 2020 – 2026
  2. Europe Vertical Farming Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Growing Mechanism Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Hydroponics
      • Aeroponics
      • Aquaponics
    • Component Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Irrigation Component
      • Lighting
      • Sensor
      • Climate Control
      • Building Material
      • Others
    • Structure Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Building-based Vertical Farms
      • Shipping Container-based Vertical Farms
    • Crop Type Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Fruits and Vegetables
      • Herbs and Microgreens
      • Flowers and Ornamentals
      • Other Crop Types
    • Country Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Germany
      • UK
      • France
      • Spain
      • Italy
      • Russia
      • Poland
      • Rest of Europe
    • Europe Vertical Farming Market – Opportunity Analysis Index, By Growing Mechanism, Component, Crop Type, and Country, 2020 – 2026
    • Europe Vertical Farming Market Dynamics – Trends
  3. Asia-Pacific Vertical Farming Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Growing Mechanism Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Hydroponics
      • Aeroponics
      • Aquaponics
    • Component Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Irrigation Component
      • Lighting
      • Sensor
      • Climate Control
      • Building Material
      • Others
    • Structure Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Building-based Vertical Farms
      • Shipping Container-based Vertical Farms
    • Crop Type Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Fruits and Vegetables
      • Herbs and Microgreens
      • Flowers and Ornamentals
      • Other Crop Types
    • Country Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Japan
      • China
      • India
      • ASEAN
      • Australia & New Zealand
      • Rest of Asia-Pacific
    • Asia-Pacific Vertical Farming Market – Opportunity Analysis Index, By Growing Mechanism, Component, Crop Type, and Country, 2020 – 2026
    • Asia-Pacific Vertical Farming Market Dynamics – Trends
  4. Latin America Vertical Farming Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Growing Mechanism Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Hydroponics
      • Aeroponics
      • Aquaponics
    • Component Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Irrigation Component
      • Lighting
      • Sensor
      • Climate Control
      • Building Material
      • Others
    • Structure Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Building-based Vertical Farms
      • Shipping Container-based Vertical Farms
    • Crop Type Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Fruits and Vegetables
      • Herbs and Microgreens
      • Flowers and Ornamentals
      • Other Crop Types
    • Country Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Brazil
      • Mexico
      • Argentina
      • Venezuela
      • Rest of Latin America
    • Latin America Vertical Farming Market – Opportunity Analysis Index, By Growing Mechanism, Component, Crop Type, and Country, 2020 – 2026
    • Latin America Vertical Farming Market Dynamics – Trends
  5. Middle East and Africa Vertical Farming Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Growing Mechanism Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Hydroponics
      • Aeroponics
      • Aquaponics
    • Component Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Irrigation Component
      • Lighting
      • Sensor
      • Climate Control
      • Building Material
      • Others
    • Structure Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Building-based Vertical Farms
      • Shipping Container-based Vertical Farms
    • Crop Type Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Fruits and Vegetables
      • Herbs and Microgreens
      • Flowers and Ornamentals
      • Other Crop Types
    • Country Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Gulf Cooperation Council (GCC) Countries
      • Israel
      • South Africa
      • Rest of MEA
    • MEA Vertical Farming Market – Opportunity Analysis Index, By Growing Mechanism, Component, Crop Type, and Country, 2020 – 2026
    • MEA Vertical Farming Market Dynamics – Trends
  6. Competition Landscape
    • Strategic Dashboard of Top Market Players
    • Company Profiles (Introduction, Financial Analysis, Component & Component Offerings, Key Developments, Strategies, and SWOT Analysis)
      • AeroFarms (U.S.)
      • Illumitex, Inc. (U.S.)
      • American Hydroponics (U.S.).
      • Sky Urban Solutions (Singapore)
      • Green Sense Farms, LLC (U.S.).
      • Agrilution GmbH (Germany)
      • BrightFarms (U.S.)
      • Urban Crops Solutions (Belgium)
      • Everlight Electronics Co., Ltd. (Taiwan)
      • Koninklijke Philips N.V (Netherlands)
  1. Research Methodology
  2. Key Assumptions and Acronyms

Report

Company Profile

Competition Assessment:

  • AeroFarms (U.S.)
  • Illumitex, Inc. (U.S.)
  • American Hydroponics (U.S.).
  • Sky Urban Solutions (Singapore)
  • Green Sense Farms, LLC (U.S.).
  • Agrilution GmbH (Germany)
  • BrightFarms (U.S.)
  • Urban Crops Solutions (Belgium)
  • Everlight Electronics Co., Ltd. (Taiwan)
  • Koninklijke Philips N.V (Netherlands)

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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