Global vertical farming market size reached USD 4.80 Billion in 2022 and is expected to register a revenue CAGR of 24.1% during the forecast period, according to latest analysis by Emergen Research. Increase in global demand for food and rapid urbanization are expected to support market revenue growth during 2022-2030.
The Vertical Farming market represents a transformative approach to agriculture, leveraging innovative technologies and sustainable practices to cultivate crops in vertically stacked layers or structures. By maximizing space utilization and minimizing resource consumption, vertical farming addresses key challenges facing traditional agriculture, such as land scarcity, water scarcity, and climate change. As the global population continues to grow and urbanize, the Vertical Farming market emerges as a promising solution to ensure food security, promote environmental sustainability, and reshape the future of farming.
Drivers of Vertical Farming Market
The growth of the Vertical Farming market is propelled by several key drivers. Foremost among these is the increasing demand for fresh and locally grown produce, driven by consumer preferences for nutritious, pesticide-free foods and the desire to support sustainable agriculture practices. Vertical farming enables year-round cultivation of crops in controlled indoor environments, providing consistent yields and quality regardless of seasonal variations or climate conditions. Additionally, the growing awareness of food miles, carbon footprints, and the environmental impact of conventional agriculture is driving interest in vertical farming as a more sustainable and resource-efficient alternative.
Major Companies and Competitive Landscape
AeroFarms, LLC, Agricool SAS, Sky Greens, Emirates Vertical Farming Farms, Freight Farms, Inc., Green Sense Farms Holdings, Inc., Heliospectra AB, LumiGrow, Inc., Signify Holding B.V., and Hydrofarm LLC.
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Key inclusions of the Vertical Farming Marketreport:
COVID-19 effects on growth figures.
Statistical analysis pertaining to market size, sales volume, and overall industry revenue.
Organized mentions of major market trends.
Growth opportunities.
Figures showcasing market growth rate.
Advantages and disadvantages of direct and indirect sales channels.
Insights regarding traders, distributors, and dealers present in the industry.
Covid impact analysis:
The study on the Global Vertical Farming Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Vertical Farming Market industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Vertical Farming Market industry. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties The Vertical Farming Market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic.
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Vertical Farming Market Segment Analysis
For the purpose of this report, Emergen Research has segmented the global vertical farming market on the basis of system, type, structure, equipment, and region:
· System Outlook (Revenue, USD Billion; 2019–2032)
o Hydroponics
o Aeroponics
o Aquaponics
· Deployment Outlook (Revenue, USD Billion; 2019–2032)
o Aggregate System
1. Open System
2. Closed System
o Liquid System
· Structure Outlook (Revenue, USD Billion; 2019–2032)
o Building Based
o Shipping Container Based
· Equipment Outlook (Revenue, USD Billion; 2019–2032)
o Heating Ventilation and Air Conditioning (HVAC)
o Light-Emitting Diode (LED)
o Grow Lights
o Irrigation System
o Material Handling Equipment
o Control System
Regional Analysis of the Vertical Farming Market :
· North America (U.S., Canada)
· Europe (U.K., Italy, Germany, France, Rest of EU)
· Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Objectives of the Report:
· Analysis and estimation of the Vertical Farming Market size and share for the projected period of 2022-2030
· Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
· Strategic recommendations to help readers formulate lucrative business strategies
· Identification of the emerging players and their tactical approaches to expand market presence
· An extensive study of the product portfolios of the major market players and their regional presence
· Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Vertical Farming Market
· Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
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About Emergen Research
Emergen Research is a Market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer Market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market.
