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Vertical Farming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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    Report

  • 139 Pages
  • May 2023
  • Region: Global
  • IMARC Group
  • ID: 5820633
Description Jump to:
The global vertical farming market size reached US$ 4.6 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 17.0 Billion by 2028, exhibiting a growth rate (CAGR) of 23% during 2023-2028.

Vertical farming refers to an innovative farming technique that involves growing food and medicinal plants in vertically stacked layers. It is adopted for producing crops with artificial control of light, temperature, humidity and gases. Vertical farming utilizes a combination of methods involving hydroponics, aeroponics and aquaponics to grow crops without soil using mineral nutrient solutions, such as peat moss and coconut husk, or aquatic animals, such as snail, fish and prawns. It is highly beneficial for crop cultivation on arid lands, mountains, unfertile lands, indoors and rooftops of the buildings. In comparison to the traditional farming practices, vertical farming is sustainable and has lower water and energy requirements.

Vertical Farming Market Trends:

A rapid increase in the global population, along with rising scarcity of arable land, is one of the key factors driving the growth of the market. Moreover, an escalating requirement for stabilized crop production to meet the rising food demands is providing a thrust to the market growth. In line with this, the legalization of cannabis cultivation for medical and recreational purposes is also contributing to the growth of the market. Various technological advancements in light-emitting diode (LED) technology and the integration of the Internet of Things (IoT)-enabled sensors and monitoring devices are acting as other growth-inducing factors. These novel LED top-lighting and inter-lighting solutions aid in reducing the farming costs and increasing the overall yield. Other factors, including the rising expenditure capacities of the consumers, along with the implementation of favorable government policies, are anticipated to drive the market toward growth.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global vertical farming market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, structure, growth mechanism and application.

Breakup by Component:

  • Irrigation Component
  • Lighting
  • Sensor
  • Climate Control

Building Material

  • Glass Greenhouse
  • Plastic Greenhouse
  • Others

Breakup by Structure:

  • Building-based Vertical Farms
  • Container-based Vertical Farms

Breakup by Growth Mechanism:

  • Hydroponics
  • Aeroponics
  • Aquaponics

Breakup by Application:

  • Indoor
  • Outdoor

Breakup by Region:

North America

  • United States
  • Canada

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others

Europe

  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others

Latin America

  • Brazil
  • Mexico
  • Others

Middle East and Africa


Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being AeroFarms, Agrilution Systems GmbH, AmHydro, Everlight Electronics Co. Ltd., Freight Farms Inc., Grönska Stadsodling, Heliospectra AB, Jones Food Company Limited, Koninklijke Philips N.V., OSRAM GmbH (ams-OSRAM AG), Signify N.V., Urban Crop Solutions and Vertical Farm Systems Pty Ltd.

Key Questions Answered in This Report:

  • What was the size of the global vertical farming market in 2022?
  • What is the expected growth rate of the global vertical farming market during 2023-2028?
  • What has been the impact of COVID-19 on the global vertical farming market?
  • What are the key factors driving the global vertical farming market?
  • What is the breakup of the global vertical farming market based on the component?
  • What is the breakup of the global vertical farming market based on the structure?
  • What is the breakup of the global vertical farming market based on growth mechanism?
  • What are the key regions in the global vertical farming market?
  • Who are the key players/companies in the global vertical farming market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Vertical Farming Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
6.1 Irrigation Component
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Lighting
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Sensors
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Climate Control
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Building Material
6.5.1 Market Trends
6.5.2 Key Segments
6.5.2.1 Glass Greenhouse
6.5.2.2 Plastic Greenhouse
6.5.3 Market Forecast
6.6 Others
6.6.1 Market Trends
6.6.2 Market Forecast
7 Market Breakup by Structure
7.1 Building-based Vertical Farms
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Container-based Vertical Farms
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Growth Mechanism
8.1 Hydroponics
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Aeroponics
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Aquaponics
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Application
9.1 Indoor
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Outdoor
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 AeroFarms
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.2 Agrilution Systems GmbH
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.3 AmHydro
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.4 Everlight Electronics Co. Ltd.
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Financials
15.3.5 Freight Farms Inc.
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.6 Grönska Stadsodling
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.7 Heliospectra AB
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.8 Jones Food Company Limited
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.9 Koninklijke Philips N.V.
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
15.3.10 OSRAM GmbH (ams-OSRAM AG)
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.10.3 Financials
15.3.11 Signify N.V.
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 Financials
15.3.12 Urban Crop Solutions
15.3.12.1 Company Overview
15.3.12.2 Product Portfolio
15.3.13 Vertical Farm Systems Pty Ltd
15.3.13.1 Company Overview
15.3.13.2 Product Portfolio
List of Figures
Figure 1: Global: Vertical Farming Market: Major Drivers and Challenges
Figure 2: Global: Vertical Farming Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Vertical Farming Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Vertical Farming Market: Breakup by Component (in %), 2022
Figure 5: Global: Vertical Farming Market: Breakup by Structure (in %), 2022
Figure 6: Global: Vertical Farming Market: Breakup by Growth Mechanism (in %), 2022
Figure 7: Global: Vertical Farming Market: Breakup by Application (in %), 2022
Figure 8: Global: Vertical Farming Market: Breakup by Region (in %), 2022
Figure 9: Global: Vertical Farming (Irrigation Component) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Vertical Farming (Irrigation Component) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Vertical Farming (Lighting) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Vertical Farming (Lighting) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Vertical Farming (Sensors) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Vertical Farming (Sensors) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Vertical Farming (Climate Control) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Vertical Farming (Climate Control) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Vertical Farming (Building Material) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Vertical Farming (Building Material) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Vertical Farming (Other Components) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Vertical Farming (Other Components) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Vertical Farming (Building-based Vertical Farms) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Vertical Farming (Building-based Vertical Farms) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Vertical Farming (Container-based Vertical Farms) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Vertical Farming (Container-based Vertical Farms) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Vertical Farming (Hydroponics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Vertical Farming (Hydroponics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Vertical Farming (Aeroponics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Vertical Farming (Aeroponics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Vertical Farming (Aquaponics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Vertical Farming (Aquaponics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Vertical Farming (Indoor) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Vertical Farming (Indoor) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Global: Vertical Farming (Outdoor) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Global: Vertical Farming (Outdoor) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: North America: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: North America: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: United States: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: United States: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Canada: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Canada: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Asia-Pacific: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Asia-Pacific: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: China: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: China: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Japan: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Japan: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: India: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: India: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: South Korea: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: South Korea: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Australia: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Australia: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: Indonesia: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: Indonesia: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Others: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Others: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Europe: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Europe: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Germany: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Germany: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: France: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: France: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: United Kingdom: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: United Kingdom: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Italy: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Italy: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Spain: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Spain: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Russia: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Russia: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Others: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Others: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Latin America: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Latin America: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Brazil: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Brazil: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Mexico: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: Mexico: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Others: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 80: Others: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 81: Middle East and Africa: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
Figure 82: Middle East and Africa: Vertical Farming Market: Breakup by Country (in %), 2022
Figure 83: Middle East and Africa: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 84: Global: Vertical Farming Industry: SWOT Analysis
Figure 85: Global: Vertical Farming Industry: Value Chain Analysis
Figure 86: Global: Vertical Farming Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Vertical Farming Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Vertical Farming Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 3: Global: Vertical Farming Market Forecast: Breakup by Structure (in Million US$), 2023-2028
Table 4: Global: Vertical Farming Market Forecast: Breakup by Growth Mechanism (in Million US$), 2023-2028
Table 5: Global: Vertical Farming Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 6: Global: Vertical Farming Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Vertical Farming Market: Competitive Structure
Table 8: Global: Vertical Farming Market: Key Players

Companies Mentioned

  • AeroFarms
  • Agrilution Systems GmbH
  • AmHydro
  • Everlight Electronics Co. Ltd.
  • Freight Farms Inc.
  • Grönska Stadsodling
  • Heliospectra AB
  • Jones Food Company Limited
  • Koninklijke Philips N.V.
  • OSRAM GmbH (ams-OSRAM AG)
  • Signify N.V.
  • Urban Crop Solutions and Vertical Farm Systems Pty Ltd.

Methodology

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Table Information

Report AttributeDetails
No. of Pages139
PublishedMay 2023
Forecast Period2022 - 2028
Estimated Market Value ( USD ) in 2022 $ 4.6 Billion
Forecasted Market Value ( USD ) by 2028 $ 17 Billion
Compound Annual Growth Rate24.3%
Regions CoveredGlobal
No. of Companies Mentioned12

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