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Vertical Farming Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

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from $4,850 140 Pages Fortune Business Insights Pvt. Ltd. April, 2024 FOB18772849
Best Price Guarantee
Price from $4,850
Length 140 Pages
Publisher Fortune Business Insights Pvt. Ltd.
Published Date April, 2024
SKU FOB18772849

Vertical Farming Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Verticle Farming Market


The Verticle Farming Market Article size was valued at USD 5.05 billion in 2023, and the market is now projected to grow from USD 6.22 billion in 2024 to USD 40.45 billion by 2032, exhibiting a CAGR of 26.4% during the forecast period of 2024-2032.

The concept of Verticle farming mainly comprises of growing plants indoors with the assistance of technology for providing sunlight and rain. LED lighting is provided to the plants as the means of sunlight through which the monitoring of plants indoors can be easily done by means of this systems, that resulted into the Verticle Farming Market Growth. These fitted indoor systems also look after the progress of the plants and the nutrition is taken care through continuous monitoring.

During the period of COVID-19 pandemic there was a sudden rise in the awareness of consuming organic grown food that resulted into increased value and importance urban farming practice and consumption of organic, local food. Even though there was a disruption in the demand and supply chains of urban food systems among retailers and wholesalers, there was a good impact on the verticle farming market growthas there was rise in demand due to the high population in the urban areas, which also accelerated the need for healthy and secure food amid pandemic.

The crucial factor that drives the verticle farming market share was due to the major factors such as enhanced efficiency resources and labor workforce, Low water usage, food security and the resistance of the plants and yield to weather and environmental conservation increased the processing of market expansion on a global level.

The incorporation of artificial intelligence and AI powered tools help the verticle farming practices easy and propel the market growth because of convenient harvesting techniques. The techniques of AI integration allows the application of various features that creates conducive environment such as right temperature, monitoring soil condition, controlling pests and insecticides and setting accurate amount of light and water required for plants that results into an improved crop yield. The trend of incorporating Robotics, artificial intelligence and smarttechnological advancements lead to effective management of farming production as well as leveraging these techniques improve crop health and lessen agricultural risks enhancing higher produces.

Comprehensive Analysis of Verticle Farming Market

The information and communication technology is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the verticle farming market industry. These segmentations are methodically segregated by types , by structure and by Component.The types of methods include, Hydroponics, Aeroponics, and Aquaponics. The Structural types include, Building-Based Vertical Farm and Shipping-Container Vertical Farm. The Component types of devices include, Lighting System, Irrigation & Fertigation System, Climate Control, Sensors, and Others.

The region of North America region leadsthe verticle farming market by benefitting a market size of USD 1.98 billion in 2023 due to the utilization of urban spaces that require lesser space needed for vertical farming resulting into effective agricultural produce.

The top players in the market play a crucial role in the information and communication and technologicalfield assuring the growth and is setting high market standards. These players include, AeroFarms (U.S.) OSRAM Licht AG (Germany) Urban Crop Solutions (Europe) Heliospectra AB (Sweden) Everlight Electronics Co. Ltd. (Taiwan) Signify Holding (Netherlands) Sky Greens (Singapore) BrightFarms. (U.S.) Plenty Unlimited Inc. (U.S.) Freight Farms, Inc. (U.S.) these market players provide a level-playing competitive landscape.

Urban Crop Solutions launched an e-shop for customers for indoor farming installations. The e-shop can connect a customer to a sales person, and the team would assist customers in their purchases and other queries.

In February 2024, Urban Crop Solutions presented a newly developed breakthrough, called as e-shop for consumers. This e-shop helps customer to reach out to the sales persons and their team assists the customers for the indoor farming installations. The e-shop will also assist the customer in the purchase of goods and it resolves consumers other queries.

Segmentation Table

Attribute Details

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 26.4% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Type

Hydroponics

Aeroponics

Aquaponics

By Structure

Building-Based Vertical Farms

Shipping-Container Vertical Farms

By Component

Lighting System

Irrigation and Fertigation System

Climate Control

Sensors

Others (HVAC Systems, Building materials, etc.)

By Region

North America (By Type, By Structure, By Component, and by Country)

-U.S. (By Structure)

-Canada (By Structure)

-Mexico (By Structure)

Europe (By Type, By Structure, By Component, and by Country)

-U.K. (By Structure)

-Germany (By Structure)

-France (By Structure)

-Italy (By Structure)

-Spain (By Structure)

-Russia (By Structure)

-Benelux (By Structure)

-Nordics (By Structure)

-Rest of Europe

Asia Pacific (By Type, By Structure, By Component, and by Country)

-China (By Structure)

-Japan (By Structure)

-India (By Structure)

-South Korea (By Structure)

-ASEAN (By Structure)

-Oceania (By Structure)

-Rest of Asia Pacific

The Middle East & Africa (By Type, By Structure, By Component, and by Country)

-Turkey (By Structure)

-Israel (By Structure)

-GCC (By Structure)

-South Africa (By Structure)

-North Africa (By Structure)

-Rest of the Middle East & Africa

South America (By Type, By Structure, By Component, and by Country)

-Brazil (By Structure)

-Argentina (By Structure)

-Rest of South America


1. Introduction
1.1. Definition, By Segment
1.2. Research Methodology/Approach
1.3. Data Sources
2. Executive Summary
3. Market Dynamics
3.1. Macro and Micro Economic Indicators
3.2. Drivers, Restraints, Opportunities and Trends
4. Competition Landscape
4.1. Business Strategies Adopted by Key Players
4.2. Consolidated SWOT Analysis of Key Players
4.3. Global Vertical Farming Key Players Market Share/Ranking, 2023
5. Global Vertical Farming Market Size Estimates and Forecasts, By Segments, 2019-2032
5.1. Key Findings
5.2. By Type (USD)
5.2.1. Hydroponics
5.2.2. Aeroponics
5.2.3. Aquaponics
5.3. By Structure (USD)
5.3.1. Building-Based Vertical Farms
5.3.2. Shipping-Container Vertical Farms
5.4. By Component (USD)
5.4.1. Lighting System
5.4.2. Irrigation and Fertigation System
5.4.3. Climate Control
5.4.4. Sensors
5.4.5. Others (HVAC Systems, Building materials, etc.)
5.5. By Region (USD)
5.5.1. North America
5.5.2. South America
5.5.3. Europe
5.5.4. Middle East & Africa
5.5.5. Asia Pacific
6. North America Vertical Farming Market Size Estimates and Forecasts, By Segments, 2019-2032
6.1. Key Findings
6.2. By Type (USD)
6.2.1. Hydroponics
6.2.2. Aeroponics
6.2.3. Aquaponics
6.3. By Structure (USD)
6.3.1. Building-Based Vertical Farms
6.3.2. Shipping-Container Vertical Farms
6.4. By Component (USD)
6.4.1. Lighting System
6.4.2. Irrigation and Fertigation System
6.4.3. Climate Control
6.4.4. Sensors
6.4.5. Others (HVAC Systems, Building materials, etc.)
6.5. By Country (USD)
6.5.1. United States
6.5.1.1. By Structure
6.5.2. Canada
6.5.2.1. By Structure
6.5.3. Mexico
6.5.3.1. By Structure
7. South America Vertical Farming Market Size Estimates and Forecasts, By Segments, 2019-2032
7.1. Key Findings
7.2. By Type (USD)
7.2.1. Hydroponics
7.2.2. Aeroponics
7.2.3. Aquaponics
7.3. By Structure (USD)
7.3.1. Building-Based Vertical Farms
7.3.2. Shipping-Container Vertical Farms
7.4. By Component (USD)
7.4.1. Lighting System
7.4.2. Irrigation and Fertigation System
7.4.3. Climate Control
7.4.4. Sensors
7.4.5. Others (HVAC Systems, Building materials, etc.)
7.5. By Country (USD)
7.5.1. Brazil
7.5.1.1. By Structure
7.5.2. Argentina
7.5.2.1. By Structure
7.5.3. Rest of South America
8. Europe Vertical Farming Market Size Estimates and Forecasts, By Segments, 2019-2032
8.1. Key Findings
8.2. By Type (USD)
8.2.1. Hydroponics
8.2.2. Aeroponics
8.2.3. Aquaponics
8.3. By Structure (USD)
8.3.1. Building-Based Vertical Farms
8.3.2. Shipping-Container Vertical Farms
8.4. By Component (USD)
8.4.1. Lighting System
8.4.2. Irrigation and Fertigation System
8.4.3. Climate Control
8.4.4. Sensors
8.4.5. Others (HVAC Systems, Building materials, etc.)
8.5. By Country (USD)
8.5.1. United Kingdom
8.5.1.1. By Structure
8.5.2. Germany
8.5.2.1. By Structure
8.5.3. France
8.5.3.1. By Structure
8.5.4. Italy
8.5.4.1. By Structure
8.5.5. Spain
8.5.5.1. By Structure
8.5.6. Russia
8.5.6.1. By Structure
8.5.7. Benelux
8.5.7.1. By Structure
8.5.8. Nordics
8.5.8.1. By Structure
8.5.9. Rest of Europe
9. Middle East & Africa Vertical Farming Market Size Estimates and Forecasts, By Segments, 2019-2032
9.1. Key Findings
9.2. By Type (USD)
9.2.1. Hydroponics
9.2.2. Aeroponics
9.2.3. Aquaponics
9.3. By Structure (USD)
9.3.1. Building-Based Vertical Farms
9.3.2. Shipping-Container Vertical Farms
9.4. By Component (USD)
9.4.1. Lighting System
9.4.2. Irrigation and Fertigation System
9.4.3. Climate Control
9.4.4. Sensors
9.4.5. Others (HVAC Systems, Building materials, etc.)
9.5. By Country (USD)
9.5.1. Turkey
9.5.1.1. By Structure
9.5.2. Israel
9.5.2.1. By Structure
9.5.3. GCC
9.5.3.1. By Structure
9.5.4. North Africa
9.5.4.1. By Structure
9.5.5. South Africa
9.5.5.1. By Structure
9.5.6. Rest of MEA
10. Asia Pacific Vertical Farming Market Size Estimates and Forecasts, By Segments, 2019-2032
10.1. Key Findings
10.2. By Type (USD)
10.2.1. Hydroponics
10.2.2. Aeroponics
10.2.3. Aquaponics
10.3. By Structure (USD)
10.3.1. Building-Based Vertical Farms
10.3.2. Shipping-Container Vertical Farms
10.4. By Component (USD)
10.4.1. Lighting System
10.4.2. Irrigation and Fertigation System
10.4.3. Climate Control
10.4.4. Sensors
10.4.5. Others (HVAC Systems, Building materials, etc.)
10.5. By Country (USD)
10.5.1. China
10.5.1.1. By Structure
10.5.2. India
10.5.2.1. By Structure
10.5.3. Japan
10.5.3.1. By Structure
10.5.4. South Korea
10.5.4.1. By Structure
10.5.5. ASEAN
10.5.5.1. By Structure
10.5.6. Oceania
10.5.6.1. By Structure
10.5.7. Rest of Asia Pacific
11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
11.1. AeroFarms
11.1.1. Overview
11.1.1.1. Key Management
11.1.1.2. Headquarters
11.1.1.3. Offerings/Business Segments
11.1.2. Key Details (Key details are consolidated data and not product/service specific)
11.1.2.1. Employee Size
11.1.2.2. Past and Current Revenue
11.1.2.3. Geographical Share
11.1.2.4. Business Segment Share
11.1.2.5. Recent Developments
11.2. OSRAM Licht AG
11.2.1. Overview
11.2.1.1. Key Management
11.2.1.2. Headquarters
11.2.1.3. Offerings/Business Segments
11.2.2. Key Details (Key details are consolidated data and not product/service specific)
11.2.2.1. Employee Size
11.2.2.2. Past and Current Revenue
11.2.2.3. Geographical Share
11.2.2.4. Business Segment Share
11.2.2.5. Recent Developments
11.3. Urban Crop Solutions
11.3.1. Overview
11.3.1.1. Key Management
11.3.1.2. Headquarters
11.3.1.3. Offerings/Business Segments
11.3.2. Key Details (Key details are consolidated data and not product/service specific)
11.3.2.1. Employee Size
11.3.2.2. Past and Current Revenue
11.3.2.3. Geographical Share
11.3.2.4. Business Segment Share
11.3.2.5. Recent Developments
11.4. Heliospectra AB
11.4.1. Overview
11.4.1.1. Key Management
11.4.1.2. Headquarters
11.4.1.3. Offerings/Business Segments
11.4.2. Key Details (Key details are consolidated data and not product/service specific)
11.4.2.1. Employee Size
11.4.2.2. Past and Current Revenue
11.4.2.3. Geographical Share
11.4.2.4. Business Segment Share
11.4.2.5. Recent Developments
11.5. Everlight Electronics Co. Ltd.
11.5.1.
11.5.1.1. Key Management
11.5.1.2. Headquarters
11.5.1.3. Offerings/Business Segments
11.5.2. Key Details (Key details are consolidated data and not product/service specific)
11.5.2.1. Employee Size
11.5.2.2. Past and Current Revenue
11.5.2.3. Geographical Share
11.5.2.4. Business Segment Share
11.5.2.5. Recent Developments
11.6. Signify Holdings
11.6.1. Overview
11.6.1.1. Key Management
11.6.1.2. Headquarters
11.6.1.3. Offerings/Business Segments
11.6.2. Key Details (Key details are consolidated data and not product/service specific)
11.6.2.1. Employee Size
11.6.2.2. Past and Current Revenue
11.6.2.3. Geographical Share
11.6.2.4. Business Segment Share
11.6.2.5. Recent Developments
11.7. Sky Greens
11.7.1. Overview
11.7.1.1. Key Management
11.7.1.2. Headquarters
11.7.1.3. Offerings/Business Segments
11.7.2. Key Details (Key details are consolidated data and not product/service specific)
11.7.2.1. Employee Size
11.7.2.2. Past and Current Revenue
11.7.2.3. Geographical Share
11.7.2.4. Business Segment Share
11.7.2.5. Recent Developments
11.8. BrightFarms
11.8.1. Overview
11.8.1.1. Key Management
11.8.1.2. Headquarters
11.8.1.3. Offerings/Business Segments
11.8.2. Key Details (Key details are consolidated data and not product/service specific)
11.8.2.1. Employee Size
11.8.2.2. Past and Current Revenue
11.8.2.3. Geographical Share
11.8.2.4. Business Segment Share
11.8.2.5. Recent Developments
11.9. Plenty Unlimited, Inc.
11.9.1. Overview
11.9.1.1. Key Management
11.9.1.2. Headquarters
11.9.1.3. Offerings/Business Segments
11.9.2. Key Details (Key details are consolidated data and not product/service specific)
11.9.2.1. Employee Size
11.9.2.2. Past and Current Revenue
11.9.2.3. Geographical Share
11.9.2.4. Business Segment Share
11.9.2.5. Recent Developments
11.10. Fright Farms, Inc.
11.10.1. Overview
11.10.1.1. Key Management
11.10.1.2. Headquarters
11.10.1.3. Offerings/Business Segments
11.10.2. Key Details (Key details are consolidated data and not product/service specific)
11.10.2.1. Employee Size
11.10.2.2. Past and Current Revenue
11.10.2.3. Geographical Share
11.10.2.4. Business Segment Share
11.10.2.5. Recent Developments

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