Global Vertical Farming Growth Opportunities

Global Vertical Farming Growth Opportunities

Globally, vertical farming is attracting major interest as a potential solution to problems traditional agriculture poses, such as unsustainable land and water use. This research assesses the growth opportunities for companies active in the vertical farming ecosystem. The study scope covers indoor vertical farms and container farms, with in-depth discussions of key technology areas, major challenges with current business models, and a comparison between vertical and conventional agriculture practices.

Frost & Sullivan segments the vertical farming market into two sub-markets: the vertical farming components market (hardware and technology solutions, software and platform, and crop inputs) and the vertical farming produce market (produce and growing technology types). In the latter market, produce types include herbs and microgreens, leafy greens, and fruits and vegetables while the technology types include hydroponics, aeroponics, and aquaponics.

As of 2022, North America remains the largest market for vertical farming components due to the region’s rapid expansion in vertical farms. Also, the United States stands as one of the largest markets for vertically farmed produce, followed by Europe. Asia-Pacific and the Middle East are on track to witness significant growth during the forecast period (2022 to 2030), driven by rising demand for local and sustainable fresh produce.