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

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.