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Vertical Farming - Global Market Trajectory & Analytics

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    Report

  • 311 Pages
  • October 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4806398

Global Vertical Farming Market to Reach $6.8 Billion by 2027

Amid the COVID-19 crisis, the global market for Vertical Farming estimated at US$2.7 Billion in the year 2020, is projected to reach a revised size of US$6.8 Billion by 2027, growing at a CAGR of 14% over the period 2020-2027. Lighting, one of the segments analyzed in the report, is projected to record a 13.9% CAGR and reach US$2.2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Hydroponic Components segment is readjusted to a revised 13.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $728.7 Million, While China is Forecast to Grow at 16.4% CAGR

The Vertical Farming market in the U.S. is estimated at US$728.7 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$1 Billion by the year 2027 trailing a CAGR of 16.4% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.9% and 12.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 12.5% CAGR.

Climate Control Segment to Record 16% CAGR

In the global Climate Control segment, USA, Canada, Japan, China and Europe will drive the 16% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$276 Million in the year 2020 will reach a projected size of US$744.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Select Competitors (Total 70 Featured)

  • 4D Bios, Inc.
  • AeroFarms LLC
  • Agrilution Systems GmbH
  • AMHYDRO (American Hydroponics)- Everlight Electronics Co., Ltd.
  • Freight Farms
  • General Hydroponics, Inc.
  • Heliospectra AB
  • FarmVisionAI
  • Mirai Co., Ltd.
  • Osram Licht AG
  • Plenty Unlimited, Inc.
  • Signify Holding
  • Sky Greens
  • Spread Co., Ltd.
  • Urban Crop Solutions
  • Valoya Ltd

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to a digital archives and Research Platform
  • Complimentary updates for one year
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Frequently Asked Questions about the Global Market for Vertical Farming

What is the estimated value of the Global Market for Vertical Farming?

The Global Market for Vertical Farming was estimated to be valued at $2.7 Billion in 2020.

What is the growth rate of the Global Market for Vertical Farming?

The growth rate of the Global Market for Vertical Farming is 14.1%, with an estimated value of $6.8 Billion by 2027.

What is the forecasted size of the Global Market for Vertical Farming?

The Global Market for Vertical Farming is estimated to be worth $6.8 Billion by 2027.

Who are the key companies in the Global Market for Vertical Farming?

Key companies in the Global Market for Vertical Farming include 4D Bios, Inc., AeroFarms LLC, Agrilution Systems GmbH, AMHYDRO (American Hydroponics), Everlight Electronics Co., Ltd., Freight Farms, General Hydroponics, Inc., Heliospectra AB and Mirai Co., Ltd..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of COVID-19 Pandemic and Looming Global Recession
  • Vertical Farming: Turning COVID-19 Crisis into Opportunity to Satiate Changing Food Demand
  • Consumer Preference for Healthy, Locally Grown Greens amid COVID-19 Benefits Vertical Farming
  • Vertical Farming Emerges as Viable, Sustainable Option for Future Food Security
  • Vertical Farming Draws Particular Appeal amid COVID-19 Pandemic
  • An Introduction to Vertical Farming
  • Global Market Prospects & Outlook
  • Hydroponics: The Largest Segment
  • Shipping Containers Segment Leads Vertical Farming Market
  • Developing Economies to Witness High Adoption of Vertical Farming
  • Competition
  • Companies Invest in Vertical Farm Facilities
  • Vertical Farming Players Join Fight against COVID-19 Virus
  • World Brands
  • Recent Market Activity
  • Vertical Farming - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Significant Benefits of Vertical Farming Technique Compared to Traditional Farming Methods Augurs Well for the Market
  • Optimum Usage of Vertical Space & Energy Usage and Easy Monitoring & Harvesting of Crops: Key Benefits Driving Adoption
  • Vertical Farming: A Solution to Solve Hunger in Future
  • Expanding Global Population and Demand Supply Imbalance Drive Focus onto Vertical Farming
  • World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Food Demand Growth Worldwide: Demand Growth in Million Tonnes for Select Foods for the Period 2008-2017 and 2018-2027
  • Shortage of Arable Land and Limited Food Production Necessitate Alternate Farming Techniques, Driving Market Prospects
  • Global Availability of Arable Land in Hectares Per Person for the Years 1990, 2000, 2018 and 2020
  • Arable Land Worldwide as a % of Total Land Area for the Years 1990, 2000, 2018 and 2020
  • Climate Change Concerns and Need for Stabilized Crop Production Turn Attention onto Vertical Farming
  • Average Global Surface Temperature (In Degrees Fahrenheit) for the Years 1940, 2000 and 2020
  • Rising Popularity of Organic Foods Drives Investments into Vertical Farming
  • Global Organic Foods Market Size (in $ Billion) for the Years 2019, 2021, 2023 and 2025
  • Reducing Operating Costs Becomes Imperative to Enhance Economic Viability of Vertical Farming
  • Advancements in Gardening & Farming Technologies Propel Market Growth
  • Vertical Farming Innovations to Revolutionize Agriculture
  • Hydroponics: Soilless Cultivation
  • Aeroponics: Soilless and Water-Efficient Cultivation
  • Aquaponics: Symbiotic Closed-Cycle Plant and Fish Ecosystem
  • Lokal: Ideal for Indoor Farming
  • AeroFarms: An Ingenious and Innovative Vertical Farming Technology
  • Plantscapers: A Food Building to Feed the Occupants
  • VertiCrop: Sustainable Farming for High-Density Urban Areas
  • Modular Farms: Fresh Produce From Virtually Anywhere in Any Climate
  • Cubic Farming Systems: Sustainable and Automated Next-Gen Farming
  • ZipGrow: Modern Farmers' Farming Solution
  • Bowery: World's Most Advanced Commercial Indoor Farming Company
  • Skyfarm: Vertical Farming Tower Powered by Wind
  • Sky Greens: Hydraulic-Driven World's First Commercial Vertical Farm
  • Automation and Data-Driven Techniques to Transform Vertical Farming Market
  • Advancements in Agricultural Practices Drive Growth in Vertical Farming Market
  • Rising Significance of Automation, AI & Robots for Vertical Farming
  • LED Grows as the Preferred Medium of Lighting in Vertical Farming
  • Advancements In Light-Emitting Diode (LED) Technology Drive Vertical Farming Market
  • Opportunity Emerges from Vertical Farming of Cannabis
  • Limited Varieties of Cultivable Crops through Vertical Farming Restrains Market
  • Challenges Confronting Vertical Farming Market
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Vertical Farming by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 2: World Historic Review for Vertical Farming by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2019 and % CAGR
  • Table 3: World 11-Year Perspective for Vertical Farming by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2016, 2021 & 2027
  • Table 4: World Recent Past, Current & Future Analysis for Lighting by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 5: World Historic Review for Lighting by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2019 and % CAGR
  • Table 6: World 11-Year Perspective for Lighting by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2021 & 2027
  • Table 7: World Recent Past, Current & Future Analysis for Hydroponic Components by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 8: World Historic Review for Hydroponic Components by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2019 and % CAGR
  • Table 9: World 11-Year Perspective for Hydroponic Components by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2021 & 2027
  • Table 10: World Recent Past, Current & Future Analysis for Climate Control by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 11: World Historic Review for Climate Control by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2019 and % CAGR
  • Table 12: World 11-Year Perspective for Climate Control by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2021 & 2027
  • Table 13: World Recent Past, Current & Future Analysis for Sensors by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 14: World Historic Review for Sensors by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2019 and % CAGR
  • Table 15: World 11-Year Perspective for Sensors by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2021 & 2027
  • Table 16: World Recent Past, Current & Future Analysis for Software & Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 17: World Historic Review for Software & Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2019 and % CAGR
  • Table 18: World 11-Year Perspective for Software & Services by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2021 & 2027
  • Table 19: World Recent Past, Current & Future Analysis for Hydroponics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 20: World Historic Review for Hydroponics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2019 and % CAGR
  • Table 21: World 11-Year Perspective for Hydroponics by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2021 & 2027
  • Table 22: World Recent Past, Current & Future Analysis for Aeroponics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 23: World Historic Review for Aeroponics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2019 and % CAGR
  • Table 24: World 11-Year Perspective for Aeroponics by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2021 & 2027
  • Table 25: World Recent Past, Current & Future Analysis for Aquaponics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 26: World Historic Review for Aquaponics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2019 and % CAGR
  • Table 27: World 11-Year Perspective for Aquaponics by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2021 & 2027
  • Table 28: World Recent Past, Current & Future Analysis for Shipping Container by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 29: World Historic Review for Shipping Container by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2019 and % CAGR
  • Table 30: World 11-Year Perspective for Shipping Container by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2021 & 2027
  • Table 31: World Recent Past, Current & Future Analysis for Building-based by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 32: World Historic Review for Building-based by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2019 and % CAGR
  • Table 33: World 11-Year Perspective for Building-based by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
  • Vertical Farming Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Vertical Farming in the US: An Overview
  • Popularity of Farm-to-Table Concept Drives Vertical Farming Market
  • Hydroponics Emerges as the Dominant Growth System in the US Vertical Farming Market
  • Outdoor Vertical Farming Witnesses Strong Growth
  • Lighting Devices: The Major Component of Vertical Farming Market
  • Fruits and Vegetables Crop Type Leads the Vertical Farming Market
  • Legalization of Cannabis in Select States Fosters Vertical Farming Market
  • Competition
CANADA
JAPAN
  • Vertical Farming Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Vertical Farming Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Challenges with Conventional Agriculture Spurs Interest in Vertical Farming
  • China Sets Eyes on Emerging as Global Leader in Vertical Farming Technology
EUROPE
  • Vertical Farming Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Overview
FRANCE
  • Vertical Farming Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Vertical Farming Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Vertical Farming Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
REST OF EUROPE
ASIA-PACIFIC
  • Vertical Farming Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Market Overview
REST OF WORLD
  • UAE Targets Vertical Farming amid COVID-19 and Climate Change Concerns
IV. COMPETITION
  • Total Companies Profiled: 70

Companies Mentioned

A selection of companies mentioned in this report includes:

  • 4D Bios, Inc.
  • AeroFarms LLC
  • Agrilution Systems GmbH
  • AMHYDRO (American Hydroponics)
  • Everlight Electronics Co., Ltd.
  • Freight Farms
  • General Hydroponics, Inc.
  • Heliospectra AB
  • FarmVisionAI
  • Mirai Co., Ltd.
  • Osram Licht AG
  • Plenty Unlimited, Inc.
  • Signify Holding
  • Sky Greens
  • Spread Co., Ltd.
  • Urban Crop Solutions
  • Valoya Ltd