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The global vertical farming market is expected to record a value of US$15.43 billion, growing at a CAGR of 24.13%, for the time period of 2023-2027. Factors such as growing global population, accelerating investment into vertical farming, decline in agriculture land area, rising risk of water scarcity, growing problem of deforestation and rapid urbanization would drive the growth of the market. However, the market growth would be challenged by maintenance of temperature, humidity and air circulation in a vertical farm, lack of technically skilled workforce and heavy initial investment costs in vertical farms. A few notable trends may include rising penetration of vertical farming, adoption of artificial intelligence, reduction in environmental impact in vertical farming and high yield associated with vertical farming.
Based on mechanism, the global vertical farming market is segmented into Hydroponics, Aquaponics and Aeroponics. Hydroponics accounts for majority of the global market share. Hydroponics grows plants without soil, where the soil is replaced by a mineral solution inserted around the plant roots, leading to the production of pesticides free food. Owing to such a factor hydroponics would continue to remain dominant in the global market over the forecast period.
The fastest growing regional market was North America due to the factors such as alarming rate of water level depletion, the presence of drought-stricken states, and an increase in environmental concerns. Europe and Asia Pacific also played substantial role in the development of agriculture technology, which helped them to capture significant shares in the global vertical farming market.
Scope of the report
- The report provides a comprehensive analysis of the global vertical farming market.
- The major regions (North America, Europe, Asia Pacific, Middle East & Africa and South America) in the mobile gaming market have been analyzed.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
- The company profiles of leading players (AeroFarms, Spread Co., Infarm, Plenty, Gotham Greens and Bowery Farming) are also presented in detail.
Key Target Audience
- Vertical Farm Developers
- Technological Equipment Dealers
- Raw Material Suppliers
- End Users (Consumers, food dealers and others)
- R&D and Investment Companies
- Government Bodies & Regulating Authorities
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Table of Contents
1. Market Overview
1.1 Introduction
1.2 Difference Between Vertical Farming & Traditional Farming
1.3 Advantages of Vertical Farming
1.4 Drawbacks of Vertical Farming
1.5 Mechanism of Vertical Farming
1.6 Main Component of Vertical Farming
1.7 Vertical farming Vs. Greenhouse
1.8 Use of Technology in Vertical Farming
2. Impact of COVID-19
2.1 Disruption in Food Supply Chain
2.2 Role of Plant-Based Diet during COVID-19
3. Global Market Analysis
3.1 Global Vertical Farming Market by Value
3.2 Global Vertical Farming Market Forecast by Value
3.3 Global Vertical Farming Market by Mechanism
3.3.1 Global Hydroponics Farming Market by Value
3.3.2 Global Hydroponics Farming Market Forecast by Value
3.3.3 Global Aquaponics Farming Market by Value
3.3.4 Global Aquaponics Farming Market Forecast by Value
3.3.5 Global Aeroponics Farming Market by Value
3.3.6 Global Aeroponics Farming Market Forecast by Value
3.4 Global Vertical Farming Market by Structure
3.4.1 Global Shipping Container Farming Market by Value
3.4.2 Global Shipping Container Farming Market Forecast by Value
3.4.3 Global Building-based Farming Market by Value
3.4.4 Global Building-based Farming Market Forecast by Value
3.5 Global Vertical Farming Market by Crop Type
3.5.1 Global Vegetables Vertical Farming Market by Value
3.5.2 Global Vegetable Vertical Farming Market Forecast by Value
3.5.3 Global Fruits Vertical Farming Market by Value
3.5.4 Global Fruits Vertical Farming Market Forecast by Value
3.5.5 Global Herbs Vertical Farming Market by Value
3.5.6 Global Herbs Vertical Farming Market Forecast by Value
3.6 Global Vertical Farming Market by Region
4. Regional Market Analysis
4.1 North America
4.1.1 North America Vertical Farming Market by Value
4.1.2 North America Vertical Farming Market Forecast by Value
4.2 Europe
4.2.1 Europe Vertical Farming Market by Value
4.2.2 Europe Vertical Farming Market Forecast by Value
4.3 Asia Pacific
4.3.1 Asia Pacific Vertical Farming Market by Value
4.3.2 Asia Pacific Vertical Farming Market Forecast by Value
4.4 Middle East & Africa
4.4.1 Middle East & Africa Vertical Farming Market by Value
4.4.2 Middle East & Africa Vertical Farming Market Forecast by Value
4.5 South America
4.5.1 South America Vertical Farming Market by Value
4.5.2 South America Vertical Farming Market Forecast by Value
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Growing Global Population
5.1.2 Accelerating Investment into Vertical Farming
5.1.3 Decline in Agriculture Land Area
5.1.4 Rising Risk of Water Scarcity
5.1.5 Growing Problem of Disforestation
5.1.6 Rapid Urbanization
5.2 Key Trends & Developments
5.2.1 Rising Penetration of Vertical Farming
5.2.2 Adoption of Artificial Intelligence
5.2.3 Reduction in Environmental Impact in Vertical Farming
5.2.4 High Yield Associated With Vertical Farming
5.3 Challenges
5.3.1 Maintenance of Temperature, Humidity and Air Circulation in a Vertical Farm
5.3.2 Lack of Technically Skilled Workforce
5.3.3 Heavy Initial Investment Costs in Vertical Farms
6. Company Profiles
6.1 AeroFarms
6.1.1 Business Overview
6.2 Spread Co.
6.2.1 Business Overview
6.3 Infarm
6.3.1 Business Overview
6.4 Plenty
6.4.1 Business Overview
6.5 Gotham Greens
6.5.1 Business Overview
6.6 Bowery Farming
6.6.1 Business Overview
List of Charts
- Mechanism of Vertical Farming
- Main Component of Vertical Farming
- Global Food Supply Chain Disrupted by COVID-19
- Global Vertical Farming Market by Value (2018-2022)
- Global Vertical Farming Market Forecast by Value (2023-2027)
- Global Vertical Farming Market by Mechanism (2022)
- Global Hydroponics Vertical Farming Market by Value (2018-2022)
- Global Hydroponics Farming Market Forecast by Value (2023-2027)
- Global Aquaponics Farming Market by Value (2018-2022)
- Global Aquaponics Farming Market Forecast by Value (2023-2027)
- Global Aeroponics Farming Market by Value (2018-2022)
- Global Aeroponics Farming Market Forecast by Value (2023-2027)
- Global Vertical Farming Market by Structure (2022)
- Global Shipping Container Farming Market by Value (2018-2022)
- Global Shipping Container Farming Market Forecast by Value (2023-2027)
- Global Building-based Farming Market by Value (2018-2022)
- Global Building-based Farming Market Forecast by Value (2023-2027)
- Global Vertical Farming Market by Crop Type (2022)
- Global Vegetables Vertical Farming Market by Value (2018-2022)
- Global Vegetable Vertical Farming Market Forecast by Value (2023-2027)
- Global Fruits Vertical Farming Market by Value (2018-2022)
- Global Fruits Vertical Farming Market Forecast by Value (2023-2027)
- Global Herbs Vertical Farming Market by Value (2018-2022)
- Global Herbs Vertical Farming Market Forecast by Value (2023-2027)
- Global Vertical Farming Market by Region (2022)
- North America Vertical Farming Market by Value (2018-2022)
- North America Vertical Farming Market Forecast by Value (2023-2027)
- Europe Vertical Farming Market by Value (2018-2022)
- Europe Vertical Farming Market Forecast by Value (2023-2027)
- Asia Pacific Vertical Farming Market by Value (2018-2022)
- Asia Pacific Vertical Farming Market Forecast by Value (2023-2027)
- Middle East & Africa Vertical Farming Market by Value (2018-2022)
- Middle East & Africa Vertical Farming Market Forecast by Value (2023-2027)
- South America Vertical Farming Market by Value (2018-2022)
- South America Vertical Farming Market Forecast by Value (2023-2027)
- Total World Population (2017-2022)
- Global Vertical Farming Investments (2017-2022)
- The U.S. Total Area of Farmland (2017-2022)
- Baseline Water Stress Score Worldwide by Selected Countries (2022)
- Global Tree Cover Loss (2001-2022)
- Global Urban Population (2017-2022)
- Global Vertical Farming Market Growth Rate (2022-2026)
- Global Artificial Intelligence (AI) Software Market (2021-2025)
List of Tables
- Vertical farming - Different Technologies And Approaches Use
- Difference Between Vertical Farming & Traditional Farming
- Advantages of Vertical Farming
- Drawbacks of Vertical Farming
- Vertical farming Vs. Greenhouse
- Use of Technology in Vertical Farming
- Baseline Water Stress Score Worldwide by Selected Countries (2022)
Companies Mentioned
- Bowery Farming
- Gotham Greens
- Plenty
- Infarm
- Spread Co.
- AeroFarms
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 81 |
| Published | March 2023 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value ( USD | $ 6.5 Billion |
| Forecasted Market Value ( USD | $ 15.43 Billion |
| Compound Annual Growth Rate | 24.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 6 |
