What is the global market size of Vertical Farming Market?

Vertical Farming Market size was valued at USD 5.70 billion in 2021 and is poised to grow from USD 6.88 billion in 2022 to USD 24.95 billion by 2030, growing at a CAGR of 20.2% during the forecast period (2023-2030).

Global Vertical Farming Market Size and Forecast to 2030

Global Vertical Farming Market Competitive Landscape

Vertical Farming Market Top Player’s Company Profiles

AeroFarms (US)

BrightFarms (US)

Everlight Electronics (Taiwan)

Green Sense Farms (US)

Growtainer (US)

Illumitex (US)

Sky Greens (Singapore)

Koninklijke Philips N.V. (Netherlands)

Plenty (US)

Signify Holding B.V. (Netherlands)

Urban Crops Solutions (Belgium)

Vertical Farm Systems (Australia)

Alesca Life Technologies (Hong Kong)

American Hydroponics (US)

FarmOne (US)

Freight Farms (US)

General Hydroponics (US)

Heliospectra AB (Sweden)

Local Roots Farms (US)

Modular Farms Co. (Canada)

Vertical Farming Market

FAQs

Global 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, growing at a CAGR of 20.2% in the forecast period (2024-2031).

The global vertical farming market is fragmented, with several small and large players operating in the industry. The market is highly competitive, with companies focusing on research and development to improve the efficiency and sustainability of vertical farming systems. Moreover, collaborations and partnerships between companies are increasing to expand the market reach and provide innovative solutions to customers. The market is also witnessing the entry of several new players, further intensifying the competition. The companies in the vertical farming market compete based on product features, price, quality, and brand image. 'AeroFarms (US)', 'BrightFarms (US)', 'Everlight Electronics (Taiwan)', 'Green Sense Farms (US)', 'Growtainer (US)', 'Illumitex (US)', 'Sky Greens (Singapore)', 'Koninklijke Philips N.V. (Netherlands)', 'Plenty (US)', 'Signify Holding B.V. (Netherlands)', 'Urban Crops Solutions (Belgium)', 'Vertical Farm Systems (Australia)', 'Alesca Life Technologies (Hong Kong)', 'American Hydroponics (US)', 'FarmOne (US)', 'Freight Farms (US)', 'General Hydroponics (US)', 'Heliospectra AB (Sweden)', 'Local Roots Farms (US)', 'Modular Farms Co. (Canada)'

The global vertical farming market is driven by the increasing demand for food due to the growing global population, the need to optimize crop production in limited space, and the increasing awareness of the benefits of sustainable farming practices. Vertical farming provides several advantages over traditional farming methods, such as reduced water usage, efficient use of space, and less dependence on agricultural labor. Moreover, advancements in technology, such as IoT sensors and artificial lighting, are making vertical farming more accessible and efficient, further driving market growth.

One of the key market trends in the global vertical farming market is the increasing focus on sustainable farming practices and the adoption of technology-driven solutions to maximize crop yields and minimize resource consumption. Additionally, the growing demand for fresh and locally grown produce, advancements in artificial lighting technology, and the rising popularity of urban farming are also driving the market growth. Furthermore, companies are exploring new business models such as vertical farming co-operatives and community-supported agriculture programs to cater to changing consumer preferences and expand market reach.

North America dominated the global market, with the United States being the largest agriculture producer in the world. The use of advanced technologies and innovative farming practices has made the region highly efficient in crop production. The region's adoption of precision agriculture techniques, such as GPS-enabled tractors and drones, has increased yields and reduced operational costs. Additionally, the region has a well-established distribution network and infrastructure, making it easier to transport and market crops. The key players in the North American agriculture market include John Deere, AGCO, and Monsanto.

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Global Vertical Farming Market Size, Share, Growth Analysis, By Technology(Aeroponics and Hydroponics), By End-User(Commercial, and Residential) - Industry Forecast 2024-2031

Global Vertical Farming Market Competitive Landscape

Global Vertical Farming Market Report Snapshots

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Global Vertical Farming Market Size, Share, Growth Analysis, By Technology(Aeroponics and Hydroponics), By End-User(Commercial, and Residential) - Industry Forecast 2024-2031

Global Vertical Farming Market Competitive Landscape

Global Vertical Farming Market Report Snapshots

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What is the global market size of Vertical Farming Market?

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