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Vertical Farming Market
Vertical Farming Market Size, Share, Forecast, & Trends Analysis by Component (Hardware {Lighting}, Software), Growth Mechanism (Hydroponics, Aeroponics, Aquaponics), Structure, Crop Type (Tomato, Berries, Lettuce, Microgreens) - Global Forecast to 2031
Report ID:MRAGR - 1041265 Pages: 150 Sep-2024 Formats*: PDF Category: Agriculture Delivery: 24 to 72 HoursVertical Farming Market Size & Forecast
The Vertical Farming Market is expected to reach $43.88 billion by 2031, at a CAGR of 22.6% from 2024 to 2031.
The growth of the vertical farming market is driven by the decrease in arable land & the growing need to increase crop yield, population growth & rapid urbanization, the rising demand for chemical-free fruits & vegetables, and increasing water scarcity & changing climatic conditions. However, the high capital investment requirements for implementing large-scale farms and the need for technical knowledge for efficient farm management restrain the market’s growth.
Moreover, technological advancements in vertical farming and the increase in urban farming & the growing consumption of fresh foods are expected to generate growth opportunities for the stakeholders in this market. However, the high energy consumption of vertical farms and the limited types of crops grown are major challenges in the vertical farming market.
Additionally, the growing emphasis on sustainability & reducing the environmental impact of farming is a prominent trend in this market.
Vertical Farming Market Growth Drivers
Decrease in Arable Land & the Growing Need to Increase Crop Yield
Arable land is one of the most important resources required to increase agricultural productivity. Numerous cultivation techniques and inputs, such as synthetic fertilizers and crop protection chemicals, have emerged during the last decade, resulting in the overutilization of land resources, soil pollution, and diminished agricultural productivity.
According to Food and Agriculture Organization (FAO) projections, per capita arable land may decrease from 0.21 hectares per person in 2023 to 0.18 hectares per person in 2050. According to the FAO’s Global Assessment of Land Degradation and Improvement (GLADA) report, globally, around two billion hectares of agricultural land have degraded since the 1950s. Land degradation is one of the world’s most critical environmental problems, which will continue to worsen without rapid remedial action. Land degradation releases soil carbon and nitrous oxide into the atmosphere, making it a significant contributor to climate change. According to scientists at the Global Environment Facility, unsustainable agriculture methods result in the loss of 24 billion tons of productive soil each year. If this trend continues, 95% of the world’s land areas could become degraded by 2050.
The Eastern & Central Asia, Latin America, and Caribbean regions have witnessed significant degradation, affecting around 20% of the total land. According to the United Nations Convention to Combat Desertification (UNCCD), in the sub-Saharan Africa and Latin America & Caribbean regions, 163 million hectares and 108 million hectares, respectively, were lost to land degradation from 2015 to 2023. This loss was mainly attributed to the diversion of cultivable land for non-agricultural purposes, including construction, industries, and other development.
According to the World Bank, by 2050, the global population will reach 9.8 billion, with a significant increase in the demand for food. This increase is expected to exert immense pressure on the already depleted arable land. Therefore, there is an immense need to increase agricultural production with the help of advanced cultivation methods. In recent years, vertical farming has gained traction due to its several advantages, such as lower land & water requirements and more limited use of pesticides compared to traditional farming. Vertical farming has the potential to produce over 350x more food per square yard compared to traditional farming. Also, it involves growing food in controlled environments with zero chemical pesticides and lower fertilizer use.
Thus, the decrease in arable land & the growing need to increase crop yield have boosted the adoption of alternative agricultural production techniques, such as vertical farming.
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Population Growth & Rapid Urbanization
The world population is growing rapidly. According to the United Nations Department of Economic and Social Affairs, the global population is expected to reach 8.6 billion by 2030, 9.8 billion by 2050, and 11.2 billion by 2100. This population growth is expected to further increase the pressure on the world’s agricultural resources for the production of more and different types of food. The demand for nutrient-dense and residue-free food products has also increased due to consumers’ growing health awareness, socio-economic changes, increased incomes, and rapid urbanization driven by migration from rural to urban areas. Urbanization has led to the growth of towns and cities, increasing the demand for fresh foods.
Rapid urbanization has created challenges such as land shortage and food insecurity, making vertical farming a promising solution. Vertical farming, with its innovative approach of cultivating crops in vertically stacked layers, offers increased crop yield per unit, making it a viable method to address the food requirements of urban areas. Therefore, population growth and rapid urbanization are boosting the demand for vertical farming, driving the growth of this market.
Vertical Farming Market Trends
Growing Emphasis on Sustainability & Reducing the Environmental Impact of Farming
The heavy use of synthetic agricultural inputs has raised environmental concerns. The extensive use of synthetic agricultural inputs directly affects the environment as residues of chemical fertilizers stay in the soil and cause soil pollution, contaminate surface & groundwater, and are released into the atmosphere through vitalization. These residues left in the soil release ammonia, methane, nitrous oxide, and elemental nitrogen into the environment. Growing awareness about the adverse effects of agrochemicals on plant physiology, soil quality, animals, and human beings is driving the adoption of sustainable farming practices. Also, urban areas continue to grow and increase environmental pressures. The adoption of sustainable practices like vertical farming is becoming increasingly crucial to mitigating the impacts of urbanization and high fertilizer usage on the environment and promoting long-term sustainability. Thus, the growing focus on sustainability & reducing the environmental impact of farming is a prominent trend positively influencing the vertical farming market.
Vertical Farming Market Opportunities
Technological Advancements in Vertical Farming
There have been significant technological advancements in vertical farming. Modern technologies have transformed agriculture in recent years. Advances in vertical farming have made it more efficient, sustainable, and profitable. Advanced technologies allow for precise control over growing conditions and enable efficient crop management, reducing the need for manual labor and increasing efficiency. Technologies such as precision framing, climate control, and water management are being increasingly adopted in vertical farming. Precision farming utilizes advanced technologies, including Global Positioning System (GPS), Geographic Information System (GIS), sensors, robotics, and data analytics to optimize agricultural practices and enhance crop productivity. The integration of automation and precision technologies has enhanced efficiency, productivity, and sustainability in vertical farming. Additionally, the use of automation in vertical farming allows for precise nutrient and water delivery. Also, it contributes to sustainability by reducing water usage, eliminating the need for pesticides, and optimizing resource utilization.
Further, the integration of AI technologies, such as machine learning, computer vision, IoT, and robotics, enhances vertical farming. Machine learning algorithms help in predicting crop yields, optimizing resource usage, and enabling data-driven decision-making. These algorithms can adapt processes to dynamic environmental conditions, contributing to the efficiency and sustainability of vertical farming practices. The integration of IoT devices enables precise environmental monitoring, nutrient management, and irrigation control, contributing to resource efficiency. These benefits are expected to further increase the demand for vertical farming solutions. Therefore, technological advancements in vertical farming are generating growth opportunities for the stakeholders in this market.
Increase in Urban Farming & Growing Consumption of Fresh Foods
Migration from rural areas has led to growth in urban populations. Currently, over 50% of the global population lives in urban areas. By 2045, the world's urban population is expected to reach 6 billion. The rising demand for locally grown fresh produce among urban populations has boosted the need for urban farming initiatives. Urban farming can ensure food security by creating local sources of fresh produce, reducing reliance on long-distance transportation, and enhancing the overall sustainability of the food system. Urban farming not only provides access to high-quality, chemical-free produce but also increases community involvement, augments green infrastructure development, and ensures a more sustainable urban environment.
Thus, the increase in urban farming & the growing consumption of fresh foods are supporting the adoption of vertical farming solutions, generating growth opportunities for the players operating in this market.
Vertical Farming Market Analysis: Key Findings
By Component: The Hardware Segment to Dominate the Vertical Farming Market in 2024
Based on component, the vertical farming market is segmented into hardware, software, and services. In 2024, the hardware segment is expected to account for the largest share of 54.7% of the vertical farming market. The large market share of this segment can be attributed to the growth in urban farming, the increasing availability of technologically advanced components, the growing adoption of precision farming techniques, and the rising demand for advanced LED lighting and autonomous irrigation systems.
However, the software segment is projected to witness the highest growth rate of 24.1% during the forecast period 2024–2031. The growth of this segment is driven by the increasing adoption of precision technologies and advanced farming practices. Software solutions play a crucial role in monitoring and managing various processes in vertical farms, enabling farmers to optimize resource utilization, automate tasks, and make data-driven decisions, driving the growth of this segment.
By Growth Mechanism: The Hydroponics Segment to Dominate the Vertical Farming Market in 2024
Based on growth mechanism, the vertical farming market is segmented into hydroponics, aeroponics, and aquaponics. In 2024, the hydroponics segment is expected to account for the largest share of 61.1% of the vertical farming market. The large market share of this segment can be attributed to the increasing penetration of controlled-environment agriculture, the benefits of hydroponics, such as low water consumption and low risk of soil-borne diseases, and technological advancements in hydroponics. Hydroponics enables year-round crop production despite changing climatic conditions. It yields high-quality produce and reduces excess resource utilization.
However, the aeroponics segment is projected to record the highest growth rate of 27.8% during the forecast period 2024–2031. The growth of this segment is driven by population growth and the consequent increase in the demand for fresh foods, decreasing arable land, and the lower water requirements of aeroponics compared to other growth mechanisms such as hydroponics and aquaponics.
By Structure: The Shipping Container-based Vertical Farms Segment to Dominate the Vertical Farming Market in 2024
Based on structure, the vertical farming market is segmented into building-based vertical farms and shipping container-based vertical farms. In 2024, the shipping container-based vertical farms segment is expected to account for the larger share of 56.0% of the vertical farming market. The large market share of this segment can be attributed to factors such as technological advancements in shipping container-based vertical farming, extensive acceptance of the method across several countries, and the rising demand for locally sourced fresh produce. Furthermore, shipping container-based vertical farming is being increasingly practiced as it can be implemented in any location, regardless of challenging climatic or weather conditions. Also, it is suitable for locations facing difficulties in traditional farming. These structures are easy to transport and do not require dedicated building space. These benefits drive the adoption of shipping container-based vertical farming, supporting the growth of this segment.
By Crop Type: The Tomato Segment to Dominate the Vertical Farming Market in 2024
Based on crop type, the vertical farming market is segmented into tomato, berries, lettuce & leafy vegetables, pepper, cucumber, microgreens, herbs, and other crop types. In 2024, the tomato segment is expected to account for the largest share of 16.6% of the vertical farming market. The large market share of this segment can be attributed to the extensive use of vertical farming in tomato crop cultivation, the increasing demand for tomatoes, and the high yields and natural pest suppression in vertical farming.
Geographic Analysis
North America to Dominate the Vertical Farming Market in 2024
Based on geography, the vertical farming market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of 29.5% of the vertical farming market, followed by Europe and Asia-Pacific. The vertical farming market in North America is expected to reach $3.10 billion in 2024. North America's significant market share can be attributed to the extensive vertical farming carried out across the region, the increasing adoption of precision farming techniques and advanced technologies, and the growing demand for locally sourced fresh and organic produce.
However, Asia-Pacific is slated to register the highest growth rate of 23.6% during the forecast period due to population growth, rapid urbanization, the growing adoption of modern agricultural techniques, the increasing number of vertical farms in China, Japan, and Singapore, and the rising demand for exotic and organic crops.
Vertical Farming Market: Key Companies
This report includes a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last 3 to 4 years. Some of the key players operating in the vertical farming market are Signify Holding B.V. (Netherlands), Heliospectra AB. (Sweden), AmHydro (U.S.), Freight Farms, Inc. (U.S.), Intelligent Growth Solutions Limited (U.K.), Everlight Electronics Co., Ltd. (China), ams-OSRAM AG (Austria), Vertical Farm Systems Pty Ltd (Australia), Urban Crop Solutions BV (Belgium), Vertical Future (U.K.), 4D Bios Inc. (U.S.), and Argus Control System Ltd. (Canada).
Vertical Farming Industry Overview: Latest Developments from Key Industry Players
- In May 2024, iFarm (UAE) launched a condensate reuse unit for vertical farms. It is a patented dehumidification system for reusing water evaporated through plants.
- In October 2023, Aerospring Hydroponics (Singapore) launched aeroponic vertical systems.
- In October 2023, Freight Farms, Inc. and Agrinam Acquisition Corporation entered into a definitive business combination agreement, under which Agrinam will acquire all of the issued and outstanding shares of Freight Farms.
- In November 2022, Freight Farms, Inc. (U.S.) raised $17.5 million in a Series B3 funding round co-led by Aliaxis SA and Ospraie Ag Science.
- In September 2022, Innovation Agri-Tech Group (IAG) (U.K.) launched GrowFrame 360, an aeroponic precision growing technology.
Vertical Farming Market Research Summary
|
Particulars |
Details |
|
Number of Pages |
~150 |
|
Format |
|
|
Forecast Period |
2024–2031 |
|
Base Year |
2023 |
|
CAGR (Value) |
22.6% |
|
Market Size (Value) |
$43.88 Billion by 2031 |
|
Segments Covered |
By Component
By Growth Mechanism
By Structure
By Crop Type
|
|
Countries Covered |
North America (U.S. and Canada), Europe (Germany, France, Netherlands, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, Mexico, and Rest of Latin America), and the Middle East & Africa (UAE, Israel, Egypt, and Rest of Middle East & Africa) |
|
Key Companies Profiled |
Signify Holding B.V. (Netherlands), Heliospectra AB. (Sweden), AmHydro (U.S.), Freight Farms, Inc. (U.S.), Intelligent Growth Solutions Limited (U.K.), Everlight Electronics Co., Ltd. (China), ams-OSRAM AG (Austria), Vertical Farm Systems Pty Ltd (Australia), Urban Crop Solutions BV (Belgium), Vertical Future (U.K.), 4D Bios Inc. (U.S.), and Argus Control System Ltd. (Canada) |
Key questions answered in the vertical farming market report:
The vertical farming market focuses on cultivating crops in vertically stacked layers using controlled environments. It aims to maximize yield per square foot with less water, land, and pesticides.
The vertical farming market is expected to reach $43.88 billion by 2031, growing significantly due to urbanization, technological advancements, and rising demand for fresh produce.
The vertical farming market is projected to grow at a CAGR of 22.6% from 2024 to 2031, driven by technological innovations, population growth, and urbanization.
The market is forecast to reach $43.88 billion by 2031, fueled by increased demand for sustainable farming, fresh produce, and advancements in farming technologies.
Key companies include Signify Holding B.V., Heliospectra AB, Freight Farms Inc., Intelligent Growth Solutions Ltd., Everlight Electronics Co., Ltd., and AmHydro.
Key trends include a focus on sustainability, reducing the environmental impact of farming, and technological advancements in automation, AI, and precision farming.
Drivers include decreasing arable land, rising population and urbanization, increasing demand for pesticide-free produce, and advancements in farming technologies.
Segments include hardware (lighting, irrigation, sensors), software, and services, and growth mechanisms like hydroponics, aeroponics, and aquaponics.
The global market is expected to grow rapidly, driven by urbanization, technological advancements, and a focus on sustainability, with Asia-Pacific showing the highest growth potential.
The vertical farming market is expected to grow at a robust CAGR of 22.6% from 2024 to 2031, driven by population growth and innovations in farming methods.
The vertical farming market is projected to grow at a CAGR of 22.6% during the 2024–2031 forecast period.
In 2024, North America is expected to hold the largest market share at 29.5%, with growing adoption of precision farming and demand for local fresh produce.
1. Introduction
1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency & Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Data Collection & Validation Process
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews with Key Opinion Leaders from the Industry
2.3. Market Sizing & Forecasting
2.3.1. Market Size Estimation Approach
2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study
3. Executive Summary
3.1. Overview
3.2. Segmental Analysis
3.2.1. Vertical Farming Market Analysis, by Component
3.2.2. Vertical Farming Market Analysis, by Growth Mechanism
3.2.3. Vertical Farming Market Analysis, by Structure
3.2.4. Vertical Farming Market Analysis, by Crop Type
3.3. Vertical Farming Market Analysis, by Region
3.4. Competitive Landscape & Market Competitors
4. Market Insights
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Drivers
4.2.1.1. Decrease in Arable Land & Growing Need to Increase Crop Yield
4.2.1.2. Population Growth & Increasing Urbanization
4.2.1.3. Rising Demand for Chemical-free Fruits & Vegetables
4.2.1.4. Increasing Water Scarcity & Changing Climatic Conditions
4.2.2. Restraints
4.2.2.1. High Capital Investment Requirements for Implementing Large-scale Farms
4.2.2.2. Extensive Technical Knowledge Required for Efficient Farm Management
4.2.3. Opportunities
4.2.3.1. Technological Advancements in Vertical Farming
4.2.3.2. Increasing Urban Farming & Growing Consumption of Fresh Foods
4.2.4. Challenges
4.2.4.1. High Energy Consumption of Vertical Farms
4.2.4.2. Limited Types of Crops Grown
4.3. Trends
4.3.1. Increasing Emphasis on Sustainability & Reducing the Environmental Impacts of Farming
4.4. Porter’s Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of Substitutes
4.4.4. Threat of New Entrants
4.4.5. Degree of Competition
5. Vertical Farming Market Assessment—by Component
5.1. Overview
5.2. Hardware
5.2.1. Lighting
5.2.2. Irrigation Components
5.2.3. Climate Controllers
5.2.4. Sensors
5.2.5. Building Materials
5.2.6. Other Hardware
5.3. Software
5.4. Services
6. Vertical Farming Market Assessment—by Growth Mechanism
6.1. Overview
6.2. Hydroponics
6.3. Aeroponics
6.4. Aquaponics
7. Vertical Farming Market Assessment—by Structure
7.1. Overview
7.2. Building-based Vertical Farms
7.3. Shipping Container-based Vertical Farms
8. Vertical Farming Market Assessment—by Crop Type
8.1. Overview
8.2. Tomato
8.3. Berries
8.4. Lettuce & Leafy Vegetables
8.5. Pepper
8.6. Cucumber
8.7. Microgreens
8.8. Herbs
8.9. Other Crop Types
9. Vertical Farming Market Assessment—by Geography
9.1. Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. Netherlands
9.3.4. Italy
9.3.5. Spain
9.3.6. U.K.
9.3.7. Rest of Europe
9.4. Asia-Pacific
9.4.1. China
9.4.2. Japan
9.4.3. India
9.4.4. Australia
9.4.5. South Korea
9.4.6. Rest of Asia-Pacific
9.5. Latin America
9.5.1. Brazil
9.5.2. Argentina
9.5.3. Mexico
9.5.4. Rest of Latin America
9.6. Middle East & Africa
9.6.1. UAE
9.6.2. Israel
9.6.3. Egypt
9.6.4. Rest of Middle East & Africa
10. Competition Analysis
10.1. Overview
10.2. Key Growth Strategies
10.3. Competitive Benchmarking
10.4. Competitive Dashboard
10.4.1. Industry Leaders
10.4.2. Market Differentiators
10.4.3. Vanguards
10.4.4. Emerging Companies
11. Company Profiles (Company Overview, Financial Overview, Product Portfolio, Strategic Developments, and SWOT Analysis*)
11.1. Signify Holding B.V.
11.2. Heliospectra AB.
11.3. AmHydro
11.4. Freight Farms, Inc.
11.5. Intelligent Growth Solutions Limited
11.6. Everlight Electronics Co., Ltd.
11.7. ams-OSRAM AG
11.8. Vertical Farm Systems Pty Ltd
11.9. Urban Crop Solutions BV
11.10. Vertical Future
11.11. 4D Bios Inc.
11.12. Argus Control System Ltd.
(Note: SWOT analysis will be provided for the top 5 companies.)
12. Appendix
12.1. Available Customization
12.2. Related Reports
List of Tables
Table 1 Global Vertical Farming Market, by Component, 2022-2031 (USD Million)
Table 2 Global Vertical Farming Hardware Market, by Type, 2022-2031 (USD Million)
Table 3 Global Vertical Farming Hardware Market, by Country/Region, 2022-2031 (USD Million)
Table 4 Global Vertical Farming Lighting Market, by Country/Region, 2022-2031 (USD Million)
Table 5 Global Vertical Farming Irrigation Components Market, by Country/Region, 2022-2031 (USD Million)
Table 6 Global Vertical Farming Climate Controllers Market, by Country/Region, 2022-2031 (USD Million)
Table 7 Global Vertical Farming Sensors Market, by Country/Region, 2022-2031 (USD Million)
Table 8 Global Vertical Farming Building Materials Market, by Country/Region, 2022-2031 (USD Million)
Table 9 Global Other Vertical Farming Hardware Market, by Country/Region, 2022-2031 (USD Million)
Table 10 Global Vertical Farming Software Market, by Country/Region, 2022-2031 (USD Million)
Table 11 Global Vertical Farming Services Market, by Country/Region, 2022-2031 (USD Million)
Table 12 Global Vertical Farming Market, by Growth Mechanism, 2022-2031 (USD Million)
Table 13 Global Hydroponics Market, by Country/Region, 2022–2031 (USD Million)
Table 14 Global Aeroponics Market, by Country/Region, 2022–2031 (USD Million)
Table 15 Global Aquaponics Market, by Country/Region, 2022–2031 (USD Million)
Table 16 Global Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 17 Global Building-based Vertical Farms Market, by Country/Region, 2022–2031 (USD Million)
Table 18 Global Shipping Container-based Vertical Farms Market, by Country/Region, 2022–2031 (USD Million)
Table 19 Global Vertical Farming Market, by Crop Type, 2022-2031 (USD Million)
Table 20 Global Vertical Farming Market for Tomato, by Country/Region, 2022-2031 (USD Million)
Table 21 Global Vertical Farming Market for Berries, by Country/Region, 2022-2031 (USD Million)
Table 22 Global Vertical Farming Market for Lettuce & Leafy Vegetables, by Country/Region, 2022-2031 (USD Million)
Table 23 Global Vertical Farming Market for Pepper, by Country/Region, 2022-2031 (USD Million)
Table 24 Global Vertical Farming Market for Cucumber, by Country/Region, 2022-2031 (USD Million)
Table 25 Global Vertical Farming Market for Microgreens, by Country/Region, 2022-2031 (USD Million)
Table 26 Global Vertical Farming Market for Herbs, by Country/Region, 2022-2031 (USD Million)
Table 27 Global Vertical Farming Market for Other Crop Types, by Country/Region, 2022-2031 (USD Million)
Table 28 Vertical Farming Market, by Region, 2022-2031 (USD Million)
Table 29 North America: Vertical Farming Market, by Country, 2022-2031 (USD Million)
Table 30 North America: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 31 North America: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 32 North America: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 33 North America: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 34 North America: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 35 U.S.: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 36 U.S.: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 37 U.S.: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 38 U.S.: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 39 U.S.: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 40 Canada: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 41 Canada: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 42 Canada: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 43 Canada: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 44 Canada: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 45 Europe: Vertical Farming Market, by Country/Region, 2022-2031 (USD Million)
Table 46 Europe: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 47 Europe: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 48 Europe: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 49 Europe: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 50 Europe: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 51 Germany: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 52 Germany: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 53 Germany: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 54 Germany: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 55 Germany: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 56 France: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 57 France: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 58 France: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 59 France: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 60 France: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 61 Netherlands: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 62 Netherlands: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 63 Netherlands: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 64 Netherlands: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 65 Netherlands: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 66 Italy: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 67 Italy: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 68 Italy: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 69 Italy: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 70 Italy: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 71 Spain: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 72 Spain: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 73 Spain: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 74 Spain: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 75 Spain: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 76 U.K.: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 77 U.K.: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 78 U.K.: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 79 U.K.: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 80 U.K.: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 81 Rest of Europe: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 82 Rest of Europe: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 83 Rest of Europe: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 84 Rest of Europe: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 85 Rest of Europe: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 86 Asia-Pacific: Vertical Farming Market, by Country/Region, 2022-2031 (USD Million)
Table 87 Asia-Pacific: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 88 Asia-Pacific: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 89 Asia-Pacific: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 90 Asia-Pacific: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 91 Asia-Pacific: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 92 China: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 93 China: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 94 China: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 95 China: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 96 China: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 97 India: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 98 India: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 99 India: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 100 India: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 101 India: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 102 Japan: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 103 Japan: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 104 Japan: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 105 Japan: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 106 Japan: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 107 Australia: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 108 Australia: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 109 Australia: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 110 Australia: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 111 Australia: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 112 South Korea: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 113 South Korea: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 114 South Korea: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 115 South Korea: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 116 South Korea: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 117 Rest of Asia-Pacific: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 118 Rest of Asia-Pacific: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 119 Rest of Asia-Pacific: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 120 Rest of Asia-Pacific: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 121 Rest of Asia-Pacific: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 122 Latin America: Vertical Farming Market, by Country/Region, 2022-2031 (USD Million)
Table 123 Latin America: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 124 Latin America: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 125 Latin America: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 126 Latin America: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 127 Latin America: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 128 Brazil: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 129 Brazil: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 130 Brazil: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 131 Brazil: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 132 Brazil: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 133 Argentina: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 134 Argentina: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 135 Argentina: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 136 Argentina: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 137 Argentina: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 138 Mexico: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 139 Mexico: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 140 Mexico: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 141 Mexico: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 142 Mexico: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 143 Rest of Latin America: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 144 Rest of Latin America: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 145 Rest of Latin America: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 146 Rest of Latin America: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 147 Rest of Latin America: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 148 Middle East & Africa: Vertical Farming Market, by Country/Region, 2022-2031 (USD Million)
Table 149 Middle East & Africa: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 150 Middle East & Africa: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 151 Middle East & Africa: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 152 Middle East & Africa: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 153 Middle East & Africa: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 154 UAE: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 155 UAE: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 156 UAE: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 157 UAE: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 158 UAE: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 159 Israel: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 160 Israel: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 161 Israel: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 162 Israel: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 163 Israel: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 164 Egypt: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 165 Egypt: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 166 Egypt: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 167 Egypt: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 168 Egypt: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 169 Rest of Middle East & Africa: Vertical Farming Market, by Component, 2022–2031 (USD Million)
Table 170 Rest of Middle East & Africa: Vertical Farming Hardware Market, by Type, 2022–2031 (USD Million)
Table 171 Rest of Middle East & Africa: Vertical Farming Market, by Growth Mechanism, 2022–2031 (USD Million)
Table 172 Rest of Middle East & Africa: Vertical Farming Market, by Structure, 2022–2031 (USD Million)
Table 173 Rest of Middle East & Africa: Vertical Farming Market, by Crop Type, 2022–2031 (USD Million)
Table 174 Recent Developments, by Company (2020–2024)
List of Figures
Figure 1 Research Process
Figure 2 Secondary Sources Referenced for the Study
Figure 3 Primary Research Techniques
Figure 4 Key Executives Interviewed
Figure 5 Breakdown of Primary Interviews (Supply-side & Demand-side)
Figure 6 Market Sizing & Growth Forecast Approach
Figure 7 The Hardware Segment to Dominate the Global Vertical Farming Market in 2024
Figure 8 The Hydroponics Segment to Dominate the Global Vertical Farming Market in 2024
Figure 9 The Shipping Container-based Vertical Farms Segment to Dominate the Global Vertical Farming Market in 2024
Figure 10 The Tomato Segment to Dominate the Global Vertical Farming Market in 2024
Figure 11 North America to Dominate the Global Vertical Farming Market in 2024
Figure 12 Impact Analysis of Market Dynamics
Figure 13 Vertical Farming Market: Porter’s Five Forces Analysis
Figure 14 Global Vertical Farming Market, by Component, 2024 Vs. 2031 (USD Million)
Figure 15 Global Vertical Farming Market, by Growth Mechanism, 2024 Vs. 2031 (USD Million)
Figure 16 Global Vertical Farming Market, by Structure, 2024 Vs. 2031 (USD Million)
Figure 17 Global Vertical Farming Market, by Crop Type, 2024 Vs. 2031 (USD Million)
Figure 18 North America: Vertical Farming Market Snapshot (2024)
Figure 19 Europe: Vertical Farming Market Snapshot (2024)
Figure 20 Asia-Pacific: Vertical Farming Market Snapshot (2024)
Figure 21 Latin America: Vertical Farming Market Snapshot (2024)
Figure 22 Middle East & Africa: Vertical Farming Market Snapshot (2024)
Figure 23 Key Growth Strategies Adopted by Leading Players (2021–2024)
Figure 24 Global Vertical Farming Market: Competitive Benchmarking, by Component
Figure 25 Global Vertical Farming Market: Competitive Benchmarking, by Growth Mechanism
Figure 26 Global Vertical Farming Market: Competitive Dashboard
Figure 27 Signify Holding B.V.: Financial Overview (2023)
Figure 28 Heliospectra AB.: Financial Overview (2022)
Figure 29 Everlight Electronics Co., Ltd.: Financial Overview (2022)
Figure 30 ams-OSRAM AG: Financial Overview (2023)
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