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Vertical Farming Market

Global Vertical Farming Market Size, Share, Trends, Forecast: By Growth Mechanism: Hydroponics, Aeroponics, Aquaponics; By Structure: Building-Based, Shipping-Container; By Component: Lighting, Others; By Crop Type; By Application; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

Global Vertical Farming Market Outlook

The global vertical farming market reached a value of about USD 5.49 billion in 2023. The industry is further expected to grow at a CAGR of about 21% in the forecast period of 2024-2032 to reach a value of around USD 30.54 billion by 2032.

 

Global Vertical Farming Market

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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.

 

Global Vertical Farming Market By Type

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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:

  • Vegetables
  • Fruits
  • Herbs
  • Others

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.

 

Global Vertical Farming Market By Region

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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.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
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.
  • Crop One
  • 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.

 

Vertical Farming Market Report Snapshots

Vertical Farming Market Size

Vertical Farming Market Growth

Vertical Farming Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

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 (2018-2023) 
    8.3    Global Vertical Farming Market Forecast (2024-2032)
    8.4    Global Vertical Farming Market by Growth Mechanism
        8.4.1    Hydroponics
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Aeroponics
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Aquaponics
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Vertical Farming Market by Structure
        8.5.1    Building-Based
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Shipping-Container
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Vertical Farming Market by Component
        8.6.1    Lighting
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Irrigation and Fertigation System
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Climate Control
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Sensors
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Others
    8.7    Global Vertical Farming Market by Crop Type
        8.7.1    Vegetables
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Fruits
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Herbs
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Others
    8.8    Global Vertical Farming Market by Application
        8.8.1    Indoor
            8.8.1.1    Historical Trend (2018-2023)
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Outdoor
            8.8.2.1    Historical Trend (2018-2023)
            8.8.2.2    Forecast Trend (2024-2032)
    8.9    Global Vertical Farming Market by Region       
        8.9.1    North America
            8.9.1.1    Historical Trend (2018-2023) 
            8.9.1.2    Forecast Trend (2024-2032)
        8.9.2    Europe
            8.9.2.1    Historical Trend (2018-2023) 
            8.9.2.2    Forecast Trend (2024-2032)
        8.9.3    Asia Pacific
            8.9.3.1    Historical Trend (2018-2023) 
            8.9.3.2    Forecast Trend (2024-2032)
        8.9.4    Latin America
            8.9.4.1    Historical Trend (2018-2023) 
            8.9.4.2    Forecast Trend (2024-2032)
        8.9.5    Middle East and Africa
            8.9.5.1    Historical Trend (2018-2023) 
            8.9.5.2    Forecast Trend (2024-2032) 
9    North America Vertical Farming Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Vertical Farming Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Vertical Farming Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Vertical Farming Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Vertical Farming Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    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 2032
2.    Global Vertical Farming Historical Market: Breakup by Growth Mechanism (USD Billion), 2018-2023
3.    Global Vertical Farming Market Forecast: Breakup by Growth Mechanism (USD Billion), 2024-2032
4.    Global Vertical Farming Historical Market: Breakup by Structure (USD Billion), 2018-2023
5.    Global Vertical Farming Market Forecast: Breakup by Structure (USD Billion), 2024-2032
6.    Global Vertical Farming Historical Market: Breakup by Component (USD Billion), 2018-2023
7.    Global Vertical Farming Market Forecast: Breakup by Component (USD Billion), 2024-2032
8.    Global Vertical Farming Historical Market: Breakup by Crop Type (USD Billion), 2018-2023
9.    Global Vertical Farming Market Forecast: Breakup by Crop Type (USD Billion), 2024-2032
10.    Global Vertical Farming Historical Market: Breakup by Application (USD Billion), 2018-2023
11.    Global Vertical Farming Market Forecast: Breakup by Application (USD Billion), 2024-2032
12.    Global Vertical Farming Historical Market: Breakup by Region (USD Billion), 2018-2023
13.    Global Vertical Farming Market Forecast: Breakup by Region (USD Billion), 2024-2032
14.    North America Vertical Farming Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    North America Vertical Farming Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Europe Vertical Farming Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Europe Vertical Farming Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Asia Pacific Vertical Farming Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Asia Pacific Vertical Farming Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Latin America Vertical Farming Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Latin America Vertical Farming Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Middle East and Africa Vertical Farming Historical Market: Breakup by Country (USD Billion), 2018-2023
23.    Middle East and Africa Vertical Farming Market Forecast: Breakup by Country (USD Billion), 2024-2032
24.    Global Vertical Farming Market Structure

Key Questions Answered in the Report

In 2023, the market attained a value of nearly USD 5.49 billion.

The market is projected to grow at a CAGR of 21% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 30.54 billion by 2032.

The growth of the market is being driven by factors like rising demand for sustainable farming methods and increasing demand for nutrition and organic food products.

Optimal use of vertical space and reasonable energy utilisation are the key trends in the market.

The major regions in the market 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 market 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 market are vegetables, fruits, and herbs, among others.

The leading applications in the market are indoor and outdoor.

The key players in the global vertical farming market 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 5.49 billion in 2023, 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 2024-2032, growing at a CAGR of 21%. The market is projected to reach USD 30.54 billion by 2032.

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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