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Global Vertical Farming Market: By Growth Mechanism: Hydroponics, Aeroponics, Aquaponics; By Structure: Building-Based, Shipping-Container; By Component: Lighting, Others; By Crop Type; By Application; Regional Analysis; Historical Market and Forecast (2018-2028); Competitive Landscape; Industry Events and Developments
Global Vertical Farming Market Outlook
The global vertical farming market reached a value of about USD 3.1 billion in 2020. The industry is further expected to grow at a CAGR of about 21% in the forecast period of 2023-2028 to reach a value of around USD 10.3 billion by 2026.
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North America to be One of the Leading Regions in the Vertical Farming Industry
North America is one of the leading regions for global the vertical farming industry, with the United States dominating the regional market. The factors attributing to the growth in the region include rising awareness about food security and the importance of nutrition. The United States, which is one of the pioneering regions in adopting the concept of vertical farming, is expected to invest significantly in the industry for facilitating the ecosystem for future foods. Moreover, with the robust demand for organic or 'fresh from farm to table' foods among consumers, the demand for vertical farming is constantly rising.
Vertical Farming: Market Segmentation
Vertical farming is a form of cultivation of different types of goods in vertically arranged layers, in unused vertical warehouses, skyscrapers, containers, etc. This process enables the profitability of many businesses to fulfil their Corporate Social Responsibility (CSR) through sustainable agricultural practises. Other advantages of vertical farming technology include the use of controlled-environmental agriculture technology and indoor farming techniques, where all environmental factors for crop production can be controlled.
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Based on growth mechanism, the industry can be segmented as follows:
- Hydroponics
- Aeroponics
- Aquaponics
On the basis of structure, the market can be divided into the following:
- Building-Based
- Shipping-Container
The components can be divided as follows:
- Lighting
- Irrigation and Fertigation System
- Climate Control
- Sensors
- Others
Based on crop type, the industry can be segmented as follows:
It finds wide applications in the following:
- Indoor
- Outdoor
The regional markets for vertical farming can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Demand for Organic Food Bolstering the Market Growth
The demand for vertical farming is expected to grow rapidly during the forecast period due to an increase in the popularity of organic food. The vertically stacked structure of these farms decreases the need for additional construction and property. It also reduces the role of machines during traditional farming. Optimal use of vertical space and reasonable energy use contribute to the development of the vertical agricultural industry. In addition, these facilities include several artificial plant growth technologies. The technologies used in this agriculture allow us to keep track of the growth and harvesting of plants, which further drives the growth of the vertical farming industry.
Key Industry Players in the Global Vertical Farming Market
The report gives a detailed analysis of the following key players in the global vertical farming market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- AeroFarms LLC
- Plenty Unlimited Inc.
- Bowery Farming Inc.
- Gotham Greens Holdings, LLC
- Futurae Farms Inc.
- Iron Ox, Inc.
- InFarm
- Agricool
- Green Sense Farms Holdings, Inc.
- Crop One
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Growth Mechanism, Structure, Component, Crop Type, Application, Region |
| Breakup by Growth Mechanism | Hydroponics, Aeroponics, Aquaponics |
| Breakup by Structure | Building-Based, Shipping-Container |
| Breakup by Component | Lighting, Irrigation and Fertigation System, Climate Control, Sensors, Others |
| Breakup by Crop Type | Vegetables, Fruits, Herbs, Others |
| Breakup by Application | Indoor, Outdoor |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | AeroFarms LLC, Plenty Unlimited Inc., Bowery Farming Inc., Gotham Greens Holdings, LLC, Futurae Farms Inc., Iron Ox, Inc., InFarm, Agricool, Green Sense Farms Holdings, Inc., and Crop One, among others. |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Vertical Farming Market Analysis
8.1 Key Industry Highlights
8.2 Global Vertical Farming Historical Market (2018-2022)
8.3 Global Vertical Farming Market Forecast (2023-2028)
8.4 Global Vertical Farming Market by Growth Mechanism
8.4.1 Hydroponics
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Aeroponics
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Aquaponics
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Vertical Farming Market by Structure
8.5.1 Building-Based
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Shipping-Container
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Vertical Farming Market by Component
8.6.1 Lighting
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Irrigation and Fertigation System
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Climate Control
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Sensors
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Others
8.7 Global Vertical Farming Market by Crop Type
8.7.1 Vegetables
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Fruits
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Herbs
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Others
8.8 Global Vertical Farming Market by Application
8.8.1 Indoor
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Outdoor
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.9 Global Vertical Farming Market by Region
8.9.1 North America
8.9.1.1 Market Share
8.9.1.2 Historical Trend (2018-2022)
8.9.1.3 Forecast Trend (2023-2028)
8.9.2 Europe
8.9.2.1 Market Share
8.9.2.2 Historical Trend (2018-2022)
8.9.2.3 Forecast Trend (2023-2028)
8.9.3 Asia Pacific
8.9.3.1 Market Share
8.9.3.2 Historical Trend (2018-2022)
8.9.3.3 Forecast Trend (2023-2028)
8.9.4 Latin America
8.9.4.1 Market Share
8.9.4.2 Historical Trend (2018-2022)
8.9.4.3 Forecast Trend (2023-2028)
8.9.5 Middle East and Africa
8.9.5.1 Market Share
8.9.5.2 Historical Trend (2018-2022)
8.9.5.3 Forecast Trend (2023-2028)
9 North America Vertical Farming Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Vertical Farming Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Vertical Farming Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Vertical Farming Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Vertical Farming Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 AeroFarms LLC
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Plenty Unlimited Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Bowery Farming Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Gotham Greens Holdings, LLC
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Futurae Farms Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Iron Ox, Inc.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 InFarm
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Agricool
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Green Sense Farms Holdings, Inc.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Crop One
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Vertical Farming Market: Key Industry Highlights, 2018 and 2028
2. Global Vertical Farming Historical Market: Breakup by Growth Mechanism (USD Billion), 2018-2022
3. Global Vertical Farming Market Forecast: Breakup by Growth Mechanism (USD Billion), 2023-2028
4. Global Vertical Farming Historical Market: Breakup by Structure (USD Billion), 2018-2022
5. Global Vertical Farming Market Forecast: Breakup by Structure (USD Billion), 2023-2028
6. Global Vertical Farming Historical Market: Breakup by Component (USD Billion), 2018-2022
7. Global Vertical Farming Market Forecast: Breakup by Component (USD Billion), 2023-2028
8. Global Vertical Farming Historical Market: Breakup by Crop Type (USD Billion), 2018-2022
9. Global Vertical Farming Market Forecast: Breakup by Crop Type (USD Billion), 2023-2028
10. Global Vertical Farming Historical Market: Breakup by Application (USD Billion), 2018-2022
11. Global Vertical Farming Market Forecast: Breakup by Application (USD Billion), 2023-2028
12. Global Vertical Farming Historical Market: Breakup by Region (USD Billion), 2018-2022
13. Global Vertical Farming Market Forecast: Breakup by Region (USD Billion), 2023-2028
14. North America Vertical Farming Historical Market: Breakup by Country (USD Billion), 2018-2022
15. North America Vertical Farming Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Europe Vertical Farming Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Europe Vertical Farming Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Asia Pacific Vertical Farming Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Asia Pacific Vertical Farming Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Latin America Vertical Farming Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Latin America Vertical Farming Market Forecast: Breakup by Country (USD Billion), 2023-2028
22. Middle East and Africa Vertical Farming Historical Market: Breakup by Country (USD Billion), 2018-2022
23. Middle East and Africa Vertical Farming Market Forecast: Breakup by Country (USD Billion), 2023-2028
24. Global Vertical Farming Market Structure
Key Questions Answered in the Report
In 2020, the global vertical farming market attained a value of nearly USD 3.1 billion.
The market is projected to grow at a CAGR of 21% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 10.3 billion by 2026.
The growth of the market is being driven by factors like rising population, growing disposable income, rising demand for sustainable farming methods, increasing demand for nutrition and organic food.
Optimal use of vertical space and reasonable energy use acts as an important industry trend.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major growth mechanisms of vertical farming in the market are hydroponics, aeroponics, and aquaponics.
The leading structures of vertical farming in the industry are building-based and shipping-container.
The significant components of vertical farming in the market are lighting, irrigation and fertigation system, climate control, and sensors, among others.
The major crop types in the industry are vegetables, fruits, and herbs, among others.
The leading application segments in the market are indoor and outdoor.
The major players in the industry are AeroFarms LLC, Plenty Unlimited Inc., Bowery Farming Inc., Gotham Greens Holdings, LLC, Futurae Farms Inc., Iron Ox, Inc., InFarm, Agricool, Green Sense Farms Holdings, Inc., and Crop One, among others.
Analyst Review
The global vertical farming market attained a value of USD 3.1 billion in 2020, driven by the rising demand for nutrition and organic food. Aided by the growing demand for sustainable farming methods, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 21%. The market is projected to reach USD 10.3 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of growth mechanism, the market is divided into hydroponics, aeroponics, and aquaponics. Based on structure, the market is bifurcated into building-based and shipping-container. By components, the industry can be segmented into lighting, irrigation and fertigation system, climate control, and sensors, among others. On the basis of crop type, the market is categorised into vegetables, fruits, and herbs, among others. Based on application, the market is bifurcated into indoor and outdoor. The major regional markets for vertical farming are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include AeroFarms LLC, Plenty Unlimited Inc., Bowery Farming Inc., Gotham Greens Holdings, LLC, Futurae Farms Inc., Iron Ox, Inc., InFarm, Agricool, Green Sense Farms Holdings, Inc., and Crop One, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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