+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Vertical Farming - Global Strategic Business Report

  • PDF Icon

    Report

  • 311 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4806398

Global Vertical Farming Market to Reach $10.3 Billion by 2030

The global market for Vertical Farming estimated at US$3.7 Billion in the year 2023, is projected to reach a revised size of US$10.3 Billion by 2030, growing at a CAGR of 13.7% over the analysis period 2023-2030.

Vertical Farming Lighting, one of the segments analyzed in the report, is projected to record 13.6% CAGR and reach US$3.4 Billion by the end of the analysis period. Growth in the Hydroponic Components segment is estimated at 13.3% CAGR for the next 8-year period.

The U.S. Market is Estimated at $981.2 Million, While China is Forecast to Grow at 15.7% CAGR

The Vertical Farming market in the U.S. is estimated at US$981.2 Million in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$1.7 Billion by the year 2030 trailing a CAGR of 15.7% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.6% and 12.4% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 12.2% CAGR.

Exciting New Report Features

  • Full access to influencer engagement stats
  • Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
  • Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilities
  • Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
  • Complimentary report updates for one year
  • Competitor coverage with global market shares of major players
  • Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
  • Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes

What to Expect from the Global Economy in 2024

Edgy geopolitics, and economic instability caused by monetary policy tightening and ensuing higher interest rates will create a tumultuous landscape for 2024. Several factors will continue to exert pressure on the path to recovery including hostilities in the Middle East and increasingly common climate disasters. Among the risks, several positives are also taking shape such as growing signs of disinflation and easing of anxiety over stubborn inflation, supply chain normalization and price moderation despite volatility in energy costs. Elections across several G21 jurisdictions, notably in India and the United States, will have potential ramifications for capital flows and investment strategies. While India emerges as a compelling destination in the global investment landscape, U.S, based tech firms will continue to dominate, fueled by a dynamic ecosystem of talent and capital. Tech opportunities in Silicon Valley and beyond remain attractive for investors seeking high-growth prospects supported largely by a resilient albeit slowing domestic economy and conducive regulatory environment. Europe will continue to battle tight monetary policy and recession risks with U.K. having the most challenging outlook and running the greatest risk of recession in 2024. China remains a wild card with hope for growth in the country underpinned by government spending and improvements in consumer spending. The volatile environment will offer both opportunities and challenges for investors and businesses alike. Embracing volatility as a catalyst for growth together with agility and strategic foresight in navigating investment decisions will remain important for survival.

Select Competitors (Total 70 Featured)

  • Samsung Group
  • OSRAM GmbH
  • Heliospectra AB
  • Agrilution GmbH
  • American Hydroponics
  • Fluence Bioengineering, Inc.
  • Vertical Farm Systems Pty Ltd.
  • Valoya Oy

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • 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
  • World Brands
  • Recent Market Activity
  • Vertical Farming - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (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 2023 through 2030 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 2022 and % CAGR
  • Table 3: World 14-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, 2024 & 2030
  • 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 2023 through 2030 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 2022 and % CAGR
  • Table 6: World 14-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, 2024 & 2030
  • 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 2023 through 2030 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 2022 and % CAGR
  • Table 9: World 14-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, 2024 & 2030
  • 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 2023 through 2030 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 2022 and % CAGR
  • Table 12: World 14-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, 2024 & 2030
  • 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 2023 through 2030 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 2022 and % CAGR
  • Table 15: World 14-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, 2024 & 2030
  • 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 2023 through 2030 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 2022 and % CAGR
  • Table 18: World 14-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, 2024 & 2030
  • 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 2023 through 2030 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 2022 and % CAGR
  • Table 21: World 14-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, 2024 & 2030
  • 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 2023 through 2030 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 2022 and % CAGR
  • Table 24: World 14-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, 2024 & 2030
  • 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 2023 through 2030 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 2022 and % CAGR
  • Table 27: World 14-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, 2024 & 2030
  • 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 2023 through 2030 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 2022 and % CAGR
  • Table 30: World 14-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, 2024 & 2030
  • 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 2023 through 2030 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 2022 and % CAGR
  • Table 33: World 14-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, 2024 & 2030
  • Table 34: World Vertical Farming Market Analysis of Annual Sales in US$ Thousand for Years 2016 through 2030
III. MARKET ANALYSIS
UNITED STATES
  • Vertical Farming Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (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 2024 (E)
CHINA
  • Vertical Farming Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (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 2024 (E)
  • Market Overview
FRANCE
  • Vertical Farming Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
GERMANY
  • Vertical Farming Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
ITALY
UNITED KINGDOM
  • Vertical Farming Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
REST OF EUROPE
ASIA-PACIFIC
  • Vertical Farming Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
  • Market Overview
REST OF WORLDIV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Samsung Group
  • OSRAM GmbH
  • Heliospectra AB
  • Agrilution GmbH
  • American Hydroponics
  • Fluence Bioengineering, Inc.
  • Vertical Farm Systems Pty Ltd.
  • Valoya Oy