Vertical Farming Market Size is anticipated to reach at a CAGR of 24.0% during the forecast period

 

During the projected period of 2022–2030, the global vertical farming market is anticipated to expand at a compound annual growth rate (CAGR) of 24.0%.

Growing crops in layers that are vertically stacked in a controlled environment—typically in old warehouses, skyscrapers, or shipping containers—is known as vertical farming. The procedure makes use of methods including aquaponics, hydroponics, and aeroponics as well as tools like grow lights, sensors, humidity controllers, coolers, etc.

Vertical farming assures great production while requiring little in the way of pesticides, space, or water. Contrary to conventional farming, vertical farming allows for the year-round production of premium fruits, vegetables, herbs, and flowers with little impact from climate change and natural disasters like droughts, floods, soil-related diseases, etc.

                                      

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Growth Drivers:

Moreover, there are numerous growth prospects for the development of the global vertical farming market due to the growing trend, awareness, and adoption of precision farming techniques among farmers. Farmers may increase yields, improve time management, use less water and chemicals, increase productivity, and grow healthier crops thanks to precision farming. This, combined with the rising demand for food, is causing farmers and agriculturists to quickly transition to precision farming, creating new growth prospects for the worldwide vertical farming market.

Also, the use of vertical farming is becoming increasingly popular in many regions of the world. This covers the rate of resource recycling and conservation in vertical farming. In addition to reducing water use by over 90%, vertical farms help farmers produce crops consistently throughout the year, increase output in a compact space, and do away with the need for pesticides and fertilisers. With all these benefits, vertical farming is expected to significantly increase market size in the years to come.

In addition, a number of additional factors, including the widespread use of IoT sensors in crop production, growing concerns about pollution-free environments, the emergence of next-generation, AI-powered vertical farming technologies, increasing investments in vertical farming technology, the rapid urbanisation of the world, and the expanding use of vertical farming to cultivate cannabis, are anticipated to further the growth of the global vertical farm.

 

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Vertical Farming Market Segmentation:

By Growth Type:

·         Hydroponics

·         Aeroponics

·         Aquaponics

 

By Structure:

·         Building-based vertical farm

·         Shipping container-based vertical farm

 

By Crop Type:

·         Lettuce

·         Pepper

·         Broccoli

·         Cucumber

·         Spinach

·         Tomato

·         Strawberry

·         Pomegranate

·         Others

 

By Offerings:

·         Hardware

·         Software

·         Services

 

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

Key Companies in Vertical Farming Market:

·         Heliospectra AB

·         Infarm

·         Altius Farms

·         Intelligent Growth Solutions

·         4D BIOS INC.

·         Green Sense Farms

·         Agrilution              

·         American Hydroponics

·         Urban Crop solutions

·         Signify

·         Freight Farms

·         AeroFarms

·         Sky Greens

·         Everlight Electronics

·         Vertical Farm Systems

·         bowery Farming

·         Agricool

·         Future Crops

·         Bright Farms

·         Other Players

 

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