Global Vertical Farming Market Size Is Expected To Reach Usd 33.02 Billion By 2030

Vertical Farming Industry Overview

The global vertical farming market size was valued at USD 4.34 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 25.5% from 2022 to 2030. The market growth is attributed to the growing adoption of environment-friendly production of fruits and vegetables. The unprecedented growth of the global population has increased the demand for urban agriculture.

Vertical farming is the practice of producing food in vertically stacked layers such as in a used warehouse, skyscraper, or shipping container. Organic foods are perceived as healthier, nutritious, safer, and more environmentally friendly. A critical factor that influences the demand for organic food is the food purchasing behavior of consumers, which is essential for producers, policymakers, and suppliers to implement successful marketing strategies.

Gather more insights about the market drivers, restrains and growth of the Global Vertical Farming market

Obesity and heart diseases are prevalent, health-related issues among consumers. Furthermore, the growing depletion of groundwater and changing climatic conditions have urged traditional growers to adopt alternate farming methods. Increasing consumer concerns toward health and the abovementioned factors are likely to elevate the industry demand.

Unlike traditional farming, indoor farming can produce crops throughout the year, which results in increased productivity. Furthermore, indoor farming can protect crops from extreme weather conditions through the usage of techniques such as the controlled environment agriculture technology, where the facilities use artificial environmental control, control of light, and fertigation.

Increasing demand for high-quality food, independent agriculture technique, and growing urbanization are some of the critical factors responsible for market growth. These factors have increased the requirement for food. Demand for food is expected to witness significant growth with a growing population by 2030. The adoption of the vertical cultivation technique allows the consumers to grow crops in a warehouse or a multi-story building.

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Vertical Farming Market Segmentation

Grand View Research has segmented the global vertical farming market report based on structure, offering, growing mechanism, fruits, vegetables, and herbs, and region:

• Structure Outlook (Revenue, USD Million, 2017 – 2030)
  • Shipping Container
  • Building-based

• Offering Outlook (Revenue, USD Million, 2017 – 2030)
  • Lighting
  • Hydroponic Components
  • Climate Control
  • Sensors

• Growing Mechanism Outlook (Revenue, USD Million, 2017 – 2030)
  • Hydroponics
  • Aeroponics
  • Aquaponics

• Fruits, Vegetables, & Herbs Outlook (Revenue, USD Million, 2017 – 2030)
  • Tomato
  • Lettuce
  • Bell & Chili Peppers
  • Strawberry
  • Cucumber
  • Leafy Greens (excluding lettuce)
  • Herbs
  • Others

• Regional Outlook (Revenue, USD Million, 2017 – 2030)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Market Share Insights

• August 2021: Cargill Partnered with the vertical farming leader AeroFarms aiming to improve cocoa bean yields and develop more climate-resilient farming practices. Together, the two organizations will experiment with different indoor growing technologies, including aeroponics and hydroponics, light, carbon dioxide, irrigation, and nutrients, to identify the optimal conditions for cocoa tree growth.
• August 2021: AeroFarms announced that it would expand to the Middle West region as part of a project with the World Wildlife Fund (WWF) and St. Louis Controlled Environment Agriculture Coalition (STLCEA) to demonstrate innovative strategies to minimize the environmental footprint of indoor vertical farming.

Key Companies profiled:

Some prominent players in the global vertical farming market include:

• AeroFarms (U.S.)
• Illumitex, Inc. (U.S.)
• American Hydroponics (U.S.)
• Agrilution GmbH
• Brightfarms Inc.
• Everlight Electronics Co., Ltd.
• Freight Farms
• GrowUp Urban Farms Ltd.
• Green Sense Farms, LLC
• Vertical Farm Systems

Order a free sample PDF of the Vertical Farming Market Intelligence Study, published by Grand View Research.

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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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