Global Vertical Farming Market

Vertical Farming Market Size, Share, Growth Analysis, By Growth Mechanism(Hydroponics, Aeroponics), By Structure(Building-based Vertical Farms, and Shipping Container-based Vertical Farms), By Offering(Hydroponic Components, Climate Control, Sensors)), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45I2097 | Region: Global | Published Date: August, 2024
Pages: 197 | Tables: 60 | Figures: 75

Vertical Farming Market Regional Insights

North America is expected to contribute significantly to the growth of the vertical farming business and held the greatest market share in 2023. This is a result of the presence of big vertical farms in states such as Canada and the US. In a similar spirit, the region's growing use of automation and advanced technologies in agriculture encourages pesticide-free, year-round food production. The number of people living in cities in countries, including the US and Canada is increasing, which raises the need for high-quality organic food that is produced using major agricultural techniques. 

Asia Pacific is predicted to grow at the fastest CAGR during the projection period. The Asia-Pacific market is growing, therefore it's no surprise that resilient and sustainable food production techniques are becoming more popular. The region's acute water shortage and growing food prices from the large populations of China, India, and Japan are expected to create enormous new market opportunities. The region's increasing vulnerability to the consequences of global warming resulted in less rain, crop failure, climate change, and other environmental and socioeconomic issues. Asia Pacific is therefore witnessing an increase in the demand for innovative farming techniques to deal with these problems. 

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Vertical Farming Market size was valued at USD 6.88 Billion in 2022 and is poised to grow from USD 8.27 Billion in 2023 to USD 36.04 Billion by 2031, at a CAGR of 20.2% over the forecast period (2024–2031). 

Companies, including VertiVegies, AeroFarms, Freight Farms, Inc., Plenty Unlimited Inc., Urban Crop Solutions, and Sky Greens provide a range of vertical farming techniques. These companies are focused on developing operational and environmentally beneficial agricultural solutions. To expand their operations globally, the market players use a variety of tactics, such as alliances, mergers, acquisitions, and collaborations. The report offers insights into market trends and discusses noteworthy developments in the industry.  'Sky Greens ', 'Plenty ', 'FarmOne ', 'Freight Farms ', 'Modular Farms Co. ', 'General Hydroponics ', 'American Hydroponics ', 'Illumitex ', 'Everlight Electronics ', 'AeroFarms ', 'BrightFarms ', 'Green Sense Farms ', 'Growtainer', 'Signify Holding B.V.', 'Vertical Farm Systems', 'Heliospectra AB'

North America is expected to contribute significantly to the growth of the vertical farming business and held the greatest market share in 2023. This is a result of the presence of big vertical farms in states such as Canada and the US. In a similar spirit, the region's growing use of automation and advanced technologies in agriculture encourages pesticide-free, year-round food production. The number of people living in cities in countries, including the US and Canada is increasing, which raises the need for high-quality organic food that is produced using major agricultural techniques. 

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Global Vertical Farming Market

Report ID: SQMIG45I2097

$5,300
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