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Vertical Farming Market to Garner USD 31.15 Billion, Globally, by 2030

According to Precedence Research, the vertical farming market size is forecasted to reach around US$ 31.15 billion by 2030, growing at a 25.2% CAGR from 2021 to 2030.

The vertical farming refers to the process of producing crops in layers that are piled vertically. It frequently integrates soilless farming techniques including hydroponics, aquaponics, and aeroponics, as well as controlled-environment agriculture, which tries to optimize plant development. Buildings, shipping containers, tunnels, and abandoned mine shafts are some of the usual structures used to host vertical farming systems.

The rise in popularity of organic food, optimum use of vertical space and balanced energy use, convenience of crop monitoring and harvesting, and decrease in arable land are all key factors influencing the vertical farming market growth. However, the market’s expansion is hampered by large initial investments and the use of new technology. Despite this, the expanding urban population and increased use of new technology-driven agriculture are likely to present profitable growth possibilities for vertical farming market players.

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This is due to the increasing adoption of environmentally friendly fruit and vegetable producing methods. The demand for urban agriculture has surged as the global population has grown at a rapid pace. The organic foods are thought to be more nutritious as compared to conventional foods. The consumer food buying behavior is a major component that drives the demand for organic food, and it is critical for producers, suppliers, and government agencies to develop effective marketing tactics.

Growth Factors

In the vertical farming industry, the implementation of harvesting robots, greenhouse roof washers and automated seed planters has been instrumental in reducing operational costs and increasing revenue. The automated movement of plants is becoming increasingly common. It includes the seeding, transplanting, harvesting, packaging, and cleaning unit tasks which, in turn, boost the demand for vertical farming. The primary factor that will have a positive effect on the vertical farming market in the coming years is the rapidly increasing global population and the demand for higher agricultural yields on limited arable land.

For example, according to the Food & Agricultural Organization (FAO), by 2050, urban regions worldwide are expected to hold about 70 percent of the global population, which will place pressure on agricultural productivity to increase in the coming years. This method has numerous advantages over traditional farming, such as less reliance on soil fertility, low water usage, and regulated weather conditions through agrochemicals, which during the forecast spell will turn the entire agro-business. In addition, its capacity to produce fruits, vegetables and herbs of high quality throughout the year would further increase product development in the near term.

Scope of the Vertical Farming Market

Report Highlights Details
Market Size US$ 31.15 billion by 2030
Growth Rate CAGR of 25.2% from 2021 to 2030
Base Year 2021
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Growth Mechanism, Component, Fruits, Vegetables & Herbs, Structure
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

COVID-19 Impact:

The industrial report mentions the influence of the ongoing COVID-19 pandemic. The outbreak has caused disturbances in several industries and has hammered the logistics, resulting in delayed deliveries and cancellation of product demand. The vertical farming report proficiently explains the resulting factors and concerns of manufacturers. Researchers have also well-explained how the producers and providers will tackle the ongoing epidemic and the key strategies to be adopted post-pandemic for turning their businesses back to normal.

Market Dynamics

Drivers

Integration of advanced technologies

The internet of things, smart and linked gadgets, drones, smartphone apps, and other technologies provide real-time information to the vertical farming producer. It is challenging to manually manage timely information about crop health and the environment. Crop production technology that is based on automation and information technology is effective.

Restraints

Lack of technically skilled workforce

The cameras, sensors, automated systems, artificial intelligence, hydroponic, aquaponic, and aeroponic systems are all frequently used in vertical farming. A skilled and knowledgeable personnel is required to run this sophisticated equipment. Vertical farming, like many other industries, has been harmed by a lack of skilled labor on a global scale. Furthermore, the majority of farmers enter this market with inefficient and costly systems. Vertical farms must stay current on several elements of farming in order to survive and remain competitive on the market.

Opportunities

Rising need for independent farming technique

With the global population expanding and global food markets changing, more robust agricultural farming methods need to be brought closer to metropolitan areas. A new sort of farming technology known as vertical farming has lately emerged as a viable agricultural answer. In contrast to traditional agricultural methods, the technique takes up less space and uses regulated transpiration. The vertical farming market is projected to increase as a result of this.

Challenges

Climate and weather conditions

In vertical farming, the most difficult problem is climate control. The temperature and humidity of the grow room must be controlled by maintaining cooling, dehumidification, and heating. The primary source of heat in vertical farming is lighting, which is followed by motors that run fans, pumps, and automation. Because vertical farms are meant to work at all hours of the day and night throughout the year, cooling is essential to remove the heat created inside the vertical farm 24 hours a day, 7 days a week, and all year. However, the producers face a significant issue in regulating the circulation of conditioned air throughout the vertical farm in order to create a consistent growing environment.

Report Highlights

Regional Snapshot

North America is the largest segment for vertical farming market in terms of region. Vertical farms are being constructed in industrialized countries such as the U.S in response to rising demand for high-quality, organic, and fresh food.

Asia-Pacific region is the fastest growing region in the vertical farming market. The loss of fertile land for traditional agriculture in nations such as India, China, and several Asian countries is likely to improve market growth potential. Because of the increased adoption of technological solutions to maximize growing food demand, vertical farming techniques are predicted to grow steadily in developing countries.

Key Players:

The vertical farming market is consolidated with a major number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report. Primary research represents a bulk of research efforts, supplemented by extensive secondary research.

Some of the prominent players in the vertical farming market include:

Market Segmentation

By Growth Mechanism

By Component

By Fruits, Vegetables & Herbs

By Structure

Regional Segmentation

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Vertical Farming Market 

5.1. COVID-19 Landscape: Vertical Farming Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Vertical Farming Market, By Growth Mechanism

8.1. Vertical Farming Market, by Growth Mechanism Type, 2021-2030

8.1.1. Hydroponics

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Terraponics

8.1.2.1. Market Revenue and Forecast (2019-2030)

8.1.3. Aeroponics

8.1.3.1. Market Revenue and Forecast (2019-2030)

8.1.4. Aquaponics

8.1.4.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Vertical Farming Market, By Component

9.1. Vertical Farming Market, by Component, 2021-2030

9.1.1. Lighting

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Climate Control

9.1.2.1. Market Revenue and Forecast (2019-2030)

9.1.3. Sensor

9.1.3.1. Market Revenue and Forecast (2019-2030)

9.1.4. Irrigation

9.1.4.1. Market Revenue and Forecast (2019-2030)

9.1.5. Others

9.1.5.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Vertical Farming Market, By Fruits, Vegetables & Herbs

10.1. Vertical Farming Market, by Fruits, Vegetables & Herbs, 2021-2030

10.1.1. Bell & Chili peppers

10.1.1.1. Market Revenue and Forecast (2019-2030)

10.1.2. Strawberry

10.1.2.1. Market Revenue and Forecast (2019-2030)

10.1.3. Tomato

10.1.3.1. Market Revenue and Forecast (2019-2030)

10.1.4. Lettuce

10.1.4.1. Market Revenue and Forecast (2019-2030)

10.1.5. Cucumber

10.1.5.1. Market Revenue and Forecast (2019-2030)

10.1.6. Herbs

10.1.6.1. Market Revenue and Forecast (2019-2030)

10.1.7. Leafy Greens (excluding lettuce)

10.1.7.1. Market Revenue and Forecast (2019-2030)

10.1.8. Others

10.1.8.1. Market Revenue and Forecast (2019-2030)

Chapter 11. Global Vertical Farming Market, By Structure Type 

11.1. Vertical Farming Market, by Structure Type, 2021-2030

11.1.1. Shipping Container

11.1.1.1. Market Revenue and Forecast (2019-2030)

11.1.2. Building-based

11.1.2.1. Market Revenue and Forecast (2019-2030)

Chapter 12. Global Vertical Farming Market, Regional Estimates and Trend Forecast

12.1. North America

12.1.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.1.2. Market Revenue and Forecast, by Component (2019-2030)

12.1.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.1.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.1.5. U.S.

12.1.5.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.1.5.2. Market Revenue and Forecast, by Component (2019-2030)

12.1.5.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.1.5.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.1.6. Rest of North America

12.1.6.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.1.6.2. Market Revenue and Forecast, by Component (2019-2030)

12.1.6.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.1.6.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.2. Europe

12.2.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.2.2. Market Revenue and Forecast, by Component (2019-2030)

12.2.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.2.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.2.5. UK

12.2.5.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.2.5.2. Market Revenue and Forecast, by Component (2019-2030)

12.2.5.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.2.5.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.2.6. Germany

12.2.6.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.2.6.2. Market Revenue and Forecast, by Component (2019-2030)

12.2.6.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.2.6.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.2.7. France

12.2.7.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.2.7.2. Market Revenue and Forecast, by Component (2019-2030)

12.2.7.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.2.7.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.2.8. Rest of Europe

12.2.8.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.2.8.2. Market Revenue and Forecast, by Component (2019-2030)

12.2.8.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.2.8.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.3. APAC

12.3.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.3.2. Market Revenue and Forecast, by Component (2019-2030)

12.3.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.3.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.3.5. India

12.3.5.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.3.5.2. Market Revenue and Forecast, by Component (2019-2030)

12.3.5.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.3.5.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.3.6. China

12.3.6.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.3.6.2. Market Revenue and Forecast, by Component (2019-2030)

12.3.6.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.3.6.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.3.7. Japan

12.3.7.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.3.7.2. Market Revenue and Forecast, by Component (2019-2030)

12.3.7.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.3.7.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.3.8. Rest of APAC

12.3.8.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.3.8.2. Market Revenue and Forecast, by Component (2019-2030)

12.3.8.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.3.8.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.4. MEA

12.4.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.4.2. Market Revenue and Forecast, by Component (2019-2030)

12.4.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.4.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.4.5. GCC

12.4.5.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.4.5.2. Market Revenue and Forecast, by Component (2019-2030)

12.4.5.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.4.5.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.4.6. North Africa

12.4.6.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.4.6.2. Market Revenue and Forecast, by Component (2019-2030)

12.4.6.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.4.6.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.4.7. South Africa

12.4.7.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.4.7.2. Market Revenue and Forecast, by Component (2019-2030)

12.4.7.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.4.7.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.4.8. Rest of MEA

12.4.8.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.4.8.2. Market Revenue and Forecast, by Component (2019-2030)

12.4.8.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.4.8.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.5. Latin America

12.5.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.5.2. Market Revenue and Forecast, by Component (2019-2030)

12.5.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.5.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.5.5. Brazil

12.5.5.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.5.5.2. Market Revenue and Forecast, by Component (2019-2030)

12.5.5.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.5.5.4. Market Revenue and Forecast, by Structure Type (2019-2030)

12.5.6. Rest of LATAM

12.5.6.1. Market Revenue and Forecast, by Growth Mechanism (2019-2030)

12.5.6.2. Market Revenue and Forecast, by Component (2019-2030)

12.5.6.3. Market Revenue and Forecast, by Fruits, Vegetables & Herbs Type (2019-2030)

12.5.6.4. Market Revenue and Forecast, by Structure Type (2019-2030)

Chapter 13. Company Profiles

13.1. 4D Bios Inc

13.1.1. Company Overview

13.1.2. Product Offerings

13.1.3. Financial Performance

13.1.4. Recent Initiatives

13.2. Illumitex Inc

13.2.1. Company Overview

13.2.2. Product Offerings

13.2.3. Financial Performance

13.2.4. Recent Initiatives

13.3. Urban Crop Solutions

13.3.1. Company Overview

13.3.2. Product Offerings

13.3.3. Financial Performance

13.3.4. Recent Initiatives

13.4. Koninklijke Philips N.V.

13.4.1. Company Overview

13.4.2. Product Offerings

13.4.3. Financial Performance

13.4.4. Recent Initiatives

13.5. AMHYDRO (American Hydroponics)

13.5.1. Company Overview

13.5.2. Product Offerings

13.5.3. Financial Performance

13.5.4. Recent Initiatives

13.6. AeroFarms

13.6.1. Company Overview

13.6.2. Product Offerings

13.6.3. Financial Performance

13.6.4. Recent Initiatives

13.7. Agrilution

13.7.1. Company Overview

13.7.2. Product Offerings

13.7.3. Financial Performance

13.7.4. Recent Initiatives

13.8. Everlight Electronics Co., Ltd

13.8.1. Company Overview

13.8.2. Product Offerings

13.8.3. Financial Performance

13.8.4. Recent Initiatives

13.9. Hort Americas

13.9.1. Company Overview

13.9.2. Product Offerings

13.9.3. Financial Performance

13.9.4. Recent Initiatives

13.10. Others

13.10.1. Company Overview

13.10.2. Product Offerings

13.10.3. Financial Performance

13.10.4. Recent Initiatives

Chapter 14. Research Methodology

14.1. Primary Research

14.2. Secondary Research

14.3. Assumptions

Chapter 15. Appendix

15.1. About Us

15.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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