Product Code: GVR-1-68038-797-1
Vertical Farming Market Growth & Trends:
The global vertical farming market size is expected to reach USD 33.02 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 25.5% from 2022 to 2030. Increased use of Internet of Things (IoT) sensors for producing crops is likely to spur market demand over the forecast period. Information obtained from the sensors is stored on the cloud and analyzed to perform the required actions. The growing automation in agriculture and increasing use of big data and predictive analytics for maximizing yields are also likely to drive the market.
Vertical farming is effective in ensuring stability in crop production and maintaining reliability even in adverse climatic conditions. It provides multiple benefits over the traditional farming technique, such as less use of water, the lesser need for agrochemicals, and low dependence on agricultural labor. Vertical farming makes use of metal reflectors and artificial lighting to maximize natural sunlight.
Genetically modified organisms and the environmental and health effects of pesticides and other non-natural substances that are used for increasing agricultural production have encouraged consumers to adopt organic foods. According to the Organic Trade Association, the U.S. organic industry sales increased by around 5% in 2019 owing to the increased investment in infrastructure and education. As per the Organic Foods Production Act of 1990, the handlers and growers of organic products need to comply with the regulations.
Artificial lighting helps in extending the hours of natural daylight, which further increases the health, growth rate, and yield of the plants. Artificial lighting such as high-pressure sodium lighting and LED lighting can extend the availability of crops (throughout a season). LED lighting systems produce a dual-band color spectrum and generate low heat. They are anticipated to witness significant growth over the forecast period.
A hydroponic system is a method of growing plants without soil. A hydroponic system eliminates the need for pesticides and artificial ripening agents and helps in producing nutritionally-rich vegetables. However, factors such as high initial investment and fewer crop varieties are likely to restrain the market growth.
Vertical Farming Market Report Highlights:
- The escalating production of biopharmaceutical products is anticipated to drive the market
- In terms of structure, the building-based segment is expected to register a significant CAGR of 27.8% over the projected period
- Based on offering, the climate control segment is expected to witness high growth over the forecast period as the growth of crops can be controlled by monitoring and adjusting the concentrations of minerals
- By growing mechanism, the aeroponics segment is expected to observe considerable growth over the forecast period as the aeroponics facilitate fast growth in plants (under normal conditions)
- The North American regional market is expected to witness significant growth over the forecast period owing to the expansion of small-scale, commercial vertical farms
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Scope & Assumptions
- 1.3. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Vertical Farming - Industry Snapshot & Key Buying Criteria, 2017 - 2030
Chapter 3. Industry Outlook
- 3.1. Market Segmentation & Scope
- 3.2. Vertical Farming Market Size and Growth Prospects
- 3.3. Vertical Farming - Value Chain Analysis
- 3.4. Market Dynamics
- 3.4.1. Market driver analysis
- 3.4.1.1. Growing demand for food across globe
- 3.4.1.2. Growing adoption of controlled growing environment
- 3.4.1.3. Difficulties in agricultural work
- 3.4.1.4. Increasing demand for organic food
- 3.4.2. Market restraint/challenges analysis
- 3.4.2.1. Higher initial investments
- 3.4.3. Market opportunity analysis
- 3.4.3.1. Production of bio-pharmaceutical products
- 3.5. Industry Analysis - Porter's
- 3.6. Vertical Farming- PEST Analysis
- 3.7. Impact of the COVID-19 pandemic
- 3.7.1. Mid-term Impact
- 3.7.2. Long-term Impact
- 3.8. Estimated Number of Vertical Farms and Greenhouses to be Built (2022 - 2030)
- 3.8.1. U.S. Estimated number of vertical farms to be built (2022 - 2030) in acres
- 3.8.2. U.S. Estimated number of greenhouses to be built (2022 - 2030) in acres
- 3.8.3. Canada estimated number of vertical farms to be built (2022 - 2030) in acres
- 3.8.4. Canada estimated number of greenhouses to be built (2022 - 2030) in acres
- 3.9. Average Breakdown of Capital Expenditure and Operating Expenditure for Vertical Farms and Greenhouses in 2021
- 3.9.1. Use case analysis of greenhouse in a Canadian province to evaluate the capital and operational expenditure (CAPEX and OPEX)
- 3.9.2. CAPEX and OPEX analysis of different types of vertical farms
- 3.10. Vertical Farming Market Trends for
- 3.10.1. Growth Pods
- 3.10.2. Container Farms
- 3.10.2.1. Global Estimated Number of Container Farms (2021)
- 3.11. Vertical Farming Market - CO2 Analysis
- 3.11.1. Current issues using CO2
- 3.11.2. Average CO2 a container need and its spending
- 3.11.3. Average amount of CO2 used in an indoor farm
- 3.12. Global Vertical Farming Produce Market, 2017 - 2030 (Revenue USD Million)
Chapter 4. Vertical Farming Market: Structure Estimates & Trend Analysis
- 4.1. Vertical Farming Market: Structure Analysis
- 4.1.1. Shipping container
- 4.1.1.1. Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 4.1.2. Building-based
- 4.1.2.1. Global market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 5. Vertical Farming Market: Offering Estimates & Trend Analysis
- 5.1. Vertical Farming Market: Offering Analysis
- 5.1.1. Lighting
- 5.1.1.1. Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.1.2. Hydroponic components
- 5.1.2.1. Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.1.3. Climate control
- 5.1.3.1. Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.1.4. Sensors
- 5.1.4.1. Global market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 6. Vertical Farming Market: Growing Mechanism Estimates & Trend Analysis
- 6.1. Vertical Farming Market: Growing Mechanism Analysis
- 6.1.1. Hydroponics
- 6.1.1.1. Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 6.1.2. Aeroponics
- 6.1.2.1. Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 6.1.3. Aquaponics
- 6.1.3.1. Global market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 7. Vertical Farming Market: Fruits, Vegetables, & Herbs Estimates & Trend Analysis
- 7.1. Vertical Farming Market: Fruits, Vegetables, & Herbs Analysis
- 7.1.1. Tomato
- 7.1.1.1. Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 7.1.2. Lettuce
- 7.1.2.1. Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 7.1.3. Bell & Chili Peppers
- 7.1.3.1. Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 7.1.4. Strawberry
- 7.1.4.1. Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 7.1.5. Cucumber
- 7.1.5.1. Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 7.1.6. Leafy Greens
- 7.1.6.1. Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 7.1.7. Herbs
- 7.1.7.1. Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 7.1.8. Others
- 7.1.8.1. Global market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 8. Vertical Farming Market: Regional Estimates & Trend Analysis
- 8.1. Vertical farming Market Share By Region, 2021 & 2030
- 8.2. North America
- 8.2.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.2.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.2.3. Vertical farming market by growing mechanism, 2017 - 2030 (USD Million)
- 8.2.4. Vertical farming market by fruits, vegetables, &, 2017 - 2030 (USD Million)
- 8.2.5. U.S.
- 8.2.5.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.2.5.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.2.5.3. Vertical farming market by growing mechanism 2017 - 2030 (USD Million)
- 8.2.5.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million)
- 8.2.6. Canada
- 8.2.6.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.2.6.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.2.6.3. Vertical farming market by growing mechanism 2017 - 2030 (USD Million)
- 8.2.6.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million)
- 8.2.7. Mexico
- 8.2.7.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.2.7.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.2.7.3. Vertical farming market by growing mechanism 2017 - 2030 (USD Million)
- 8.2.7.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million)
- 8.3. Europe
- 8.3.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.3.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.3.3. Vertical farming market by growing mechanism, 2017 - 2030 (USD Million)
- 8.3.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million)
- 8.3.5. Germany
- 8.3.5.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.3.5.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.3.5.3. Vertical farming market by growing mechanism 2017 - 2030 (USD Million)
- 8.3.5.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million)
- 8.3.6. U.K.
- 8.3.6.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.3.6.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.3.6.3. Vertical farming market by growing mechanism 2017 - 2030 (USD Million)
- 8.3.6.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million)
- 8.3.7. France
- 8.3.7.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.3.7.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.3.7.3. Vertical farming market by growing mechanism 2017 - 2030 (USD Million)
- 8.3.7.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million)
- 8.3.8. Italy
- 8.3.8.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.3.8.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.3.8.3. Vertical farming market by growing mechanism 2017 - 2030 (USD Million)
- 8.3.8.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million)
- 8.3.9. Spain
- 8.3.9.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.3.9.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.3.9.3. Vertical farming market by growing mechanism 2017 - 2030 (USD Million)
- 8.3.9.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million)
- 8.4. Asia Pacific
- 8.4.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.4.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.4.3. Vertical farming market by growing mechanism, 2017 - 2030 (USD Million)
- 8.4.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million)
- 8.4.5. China
- 8.4.5.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.4.5.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.4.5.3. Vertical farming market by growing mechanism 2017 - 2030 (USD Million)
- 8.4.5.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million)
- 8.4.6. Japan
- 8.4.6.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.4.6.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.4.6.3. Vertical farming market by growing mechanism 2017 - 2030 (USD Million)
- 8.4.6.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million)
- 8.4.7. India
- 8.4.7.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.4.7.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.4.7.3. Vertical farming market by growing mechanism 2017 - 2030 (USD Million)
- 8.4.7.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million)
- 8.4.8. Singapore
- 8.4.8.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.4.8.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.4.8.3. Vertical farming market by growing mechanism 2017 - 2030 (USD Million)
- 8.4.8.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million)
- 8.4.9. South Korea
- 8.4.9.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.4.9.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.4.9.3. Vertical farming market by growing mechanism 2017 - 2030 (USD Million)
- 8.4.9.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million
- 8.5. South America
- 8.5.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.5.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.5.3. Vertical farming market by growing mechanism, 2017 - 2030 (USD Million)
- 8.5.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million)
- 8.5.5. Brazil
- 8.5.5.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.5.5.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.5.5.3. Vertical farming market by growing mechanism 2017 - 2030 (USD Million)
- 8.5.5.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million)
- 8.6. MEA
- 8.6.1. Vertical farming market by structure, 2017 - 2030 (USD Million)
- 8.6.2. Vertical farming market by offering, 2017 - 2030 (USD Million)
- 8.6.3. Vertical farming market by growing mechanism, 2017 - 2030 (USD Million)
- 8.6.4. Vertical farming market by fruits, vegetables, & herbs, 2017 - 2030 (USD Million)
Chapter 9. Competitive Landscape
- 9.1. Recent Developments and Impact Analysis, by Key Market Participants
- 9.2. Company/Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
- 9.3. Key Company Market Share Analysis, 2021
- 9.4. Market Position Analysis
- 9.5. Competitive Dashboard Analysis
Chapter 10. Competitive Landscape
- 10.1. Agrilution
- 10.1.1. Company overview
- 10.1.2. Product benchmarking
- 10.1.3. Recent developments
- 10.2. American Hydroponics
- 10.2.1. Company overview
- 10.2.2. Product benchmarking
- 10.2.3. Recent developments
- 10.3. AeroFarms
- 10.3.1. Company overview
- 10.3.2. Product benchmarking
- 10.3.3. Recent developments
- 10.4. BrightFarms
- 10.4.1. Company overview
- 10.4.2. Product benchmarking
- 10.4.3. Recent developments
- 10.5. Everlight Electronics Co., Ltd.
- 10.5.1. Company overview
- 10.5.2. Financial performance
- 10.5.3. Product benchmarking
- 10.5.4. Recent developments
- 10.6. Freight Farms
- 10.6.1. Company overview
- 10.6.2. Product benchmarking
- 10.6.3. Recent developments
- 10.7. GrowUp Urban Farms
- 10.7.1. Company overview
- 10.7.2. Product benchmarking
- 10.7.3. Recent developments
- 10.8. Green Sense Farms, LLC
- 10.8.1. Company overview
- 10.8.2. Product benchmarking
- 10.8.3. Recent developments
- 10.9. Illumitex, Inc.
- 10.9.1. Company overview
- 10.9.2. Product benchmarking
- 10.9.3. Recent developments
- 10.10. Vertical Farm Systems
- 10.10.1. Company overview
- 10.10.2. Product benchmarking
- 10.10.3. Recent developments