Vertical Farming Market: By Component Structure Mechanism Crop Type and Geography

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Vertical Farming Market Size, Share, Growth, Trends, and Global Industry Analysis: By Component (Lighting, Hydroponic Components, Climate Control, Sensors Others) Structure (Shipping Container, Building-based) Mechanism (Hydroponics, Aeroponics, Aquaponics) Crop Type (Fruits and Vegetables, Leafy Greens, Nutraceutical Plants Others) and Region

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Vertical Farming Market size was valued at US$ 4.7 billion in 2023 and is expected to reach US$ 16.7 billion by 2030, at a CAGR of 23.3% from 2024-2030. Due to the increase in population lead to increase in demand for food, lower dependency of farming on weather conditions, lesser use of water for cultivation of crops, ability to produce high quality crops throughout the year. Moreover, the increase in adaptation of vertical farming through which organic and chemical free crops can be grown in artificially controlled environments is driving the growth of the global market over the forecast timeframe.

Vertical farming is the process of growing vegetables and food on vertically inclined surfaces rather than on a single level, such as in a field or a greenhouse. Foods are manufactured in vertically stacked layers in this technology, which is typically integrated into other structures like a skyscraper, cargo container, or old warehouse. Modern vertical farming concepts emphasise the use of indoor farming techniques and controlled-environment agriculture (CEA) technologies to regulate all environmental conditions. Producing meals and vegetables indoors is possible thanks to the artificial regulation of light, temperature, humidity, and gases. Vertical farming's main purpose is to enhance crop yield in a controlled environment. The report studies global vertical farming market dynamics elaborately to indentify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market.

In addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities).

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Vertical Farming Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

23.3%

Largest Market

Asia Pacific

Fastest Growing Market

North America

Vertical Farming Market

Increase in the world population is a key factor drive the global vertical farming market. The increasing population worldwide has resulted in significant increase in food demand. Due to various reasons like lack of water, lack of proper environmental conditions the crop production in getting decreased. According to UNO, 55% of the total world population live in urban areas and it is expected to reach 65% by 2050. Majority of the people who live in rural areas depends on agriculture but the population is getting decreased due to various reasons so that the production is getting decreased and the demand is getting increased. Vertical farming permits farmers to harvest fresh organic crops in ever-growing cities with additional advantages of high yield and low water requirement. Traditional farmers use pesticides to achieve higher yield and use preservatives to keep the food fresh, as they deliver it to cities. However, rise in demand for fresh, local, and organic food has enhanced the growth of the market.

Vertical Farming Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 4.7 billion

Market Size in 2030

US$ 16.7 billion

Market CAGR

23.3%

By Growing Mechanism

  • Hydroponics
  • Aeroponics
  • Aquaponics

By Structure

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

By Crop Type

  • Fruits and Vegetables
  • Herbs and Microgreens
  • Flowers and Ornamentals
  • Other Crop Types

By Component

  • Irrigation Component
  • Lighting
  • Sensor
  • Climate Control
  • Building Material
  • Others

Key Features of the Report

  • The vertical farming market report provides granular level information about the market size, regional market share, historic market, and forecast (2024-2030)
  • The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and startup's details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
  • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis in addition to recent technology advancements and innovations in the market

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Frequently Asked Questions

Vertical farming market size was valued at US$ 4.7 billion in 2023 and is set to reach US$ 16.7 billion by 2030, growing at a CAGR of 23.3% from 2024-2030.

The key players of the market are AeroFarms, Illumitex, Inc, American Hydroponics, Sky Urban Solutions, Green Sense Farms, LLC, Agrilution GmbH

North America is is the fastest-growing region for the market

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Author

Sravani

Sravani is a proficient Business Analyst with an MBA and a background in Computer Science, with seven years of expe.....

1. Executive Summary
2. Global Vertical Farming Market Introduction
2.1. Global Vertical Farming Market Taxonomy
2.2. Global Vertical Farming Market Definitions
2.2.1. Component
2.2.2. Structure
2.2.3. Mechanism
2.2.4. Crop Type
2.2.5. By Region
3. Global Vertical Farming Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Vertical Farming Market Dynamic Factors - Impact Analysis
3.6. Global Vertical Farming Market Competition Landscape
4. Global Vertical Farming Market Analysis, 2019-2030 and Forecast, 2024-2030
4.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Vertical Farming Market, By Component, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
5.1. Lighting
5.1.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Hydroponic Components
5.2.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
5.3. Climatic Control
5.3.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
5.4. Sensors
5.4.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.4.3. Market Opportunity Analysis
5.5. Others
5.5.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
5.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.5.3. Market Opportunity Analysis
6. Global Vertical Farming Market, By Structure, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
6.1. Shipping Container
6.1.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Building-based
6.2.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
7. Global Vertical Farming Market, By Mechanism, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
7.1. Hydroponics
7.1.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Aeroponics
7.2.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Aquaponics
7.3.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
8. Global Vertical Farming Market, By Crop Type, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
8.1. Fruits and Vegetables
8.1.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Leafy Vegetables
8.2.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Nutraceutical Plants
8.3.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Others
8.4.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
9. Global Vertical Farming Market Forecast, By Region, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
9.1. North America
9.1.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.1.3. Market Opportunity Analysis
9.2. Europe
9.2.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.2.3. Market Opportunity Analysis
9.3. Asia-Pacific
9.3.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.3.3. Market Opportunity Analysis
9.4. Latin America
9.4.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.4.3. Market Opportunity Analysis
9.5. Middle East and Africa
9.5.1. Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.5.3. Market Opportunity Analysis
9.6. Global Vertical Farming Market - Opportunity Analysis Index, By Component, By Structure, By Mechanism, By Crop Type, and Region, 2024-2030
10. North America Vertical Farming Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
10.1. Component Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Lighting
10.1.2. Hydroponic Components
10.1.3. Climate Control
10.1.4. Sensors
10.1.5. Others
10.2. Structure Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. Shipping Container
10.2.2. Building-based
10.3. Mechanism Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.3.1. Hydroponics
10.3.2. Aeroponics
10.3.3. Aquaponics
10.4. Crop Type Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.4.1. Fruits and Vegetables
10.4.2. Leafy Greens
10.4.3. Nutraceutical Plants
10.4.4. Others
10.5. Country Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.5.1. USA
10.5.2. Canada
10.6. North America Vertical Farming Market - Opportunity Analysis Index, By Component, By Structure, By Mechanism, By Crop Type, and Country, 2024-2030
10.7. North America Vertical Farming Market Dynamics Trends
11. Europe Vertical Farming Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
11.1. Component Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Lighting
11.1.2. Hydroponic Components
11.1.3. Climate Control
11.1.4. Sensors
11.1.5. Others
11.2. Structure Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. Shipping Container
11.2.2. Building-based
11.3. Mechanism Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.3.1. Hydroponics
11.3.2. Aeroponics
11.3.3. Aquaponics
11.4. Crop Type Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.4.1. Fruits and Vegetables
11.4.2. Leafy Greens
11.4.3. Nutraceutical Plants
11.4.4. Others
11.5. Country Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.5.1. Germany
11.5.2. UK
11.5.3. France
11.5.4. Spain
11.5.5. Italy
11.5.6. Rest of Europe
11.6. Europe Vertical Farming Market - Opportunity Analysis Index, By Component, By Structure, By Mechanism, By Crop Type, and Country, 2024-2030
11.7. Europe Vertical Farming Market Dynamics Trends
12. Asia-Pacific Vertical Farming Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
12.1. Component Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Lighting
12.1.2. Hydroponic Components
12.1.3. Climate Control
12.1.4. Sensors
12.1.5. Others
12.2. Structure Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. Shipping Container
12.2.2. Building-based
12.3. Mechanism Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.3.1. Hydroponics
12.3.2. Aeroponics
12.3.3. Aquaponics
12.4. Crop Type Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.4.1. Fruits and Vegetables
12.4.2. Leafy Greens
12.4.3. Nutraceutical Plants
12.4.4. Others
12.5. Country Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.5.1. China
12.5.2. India
12.5.3. Japan
12.5.4. ASEAN
12.5.5. Australia & New Zealand
12.5.6. Rest of Asia-Pacific
12.6. Asia-Pacific Vertical Farming Market - Opportunity Analysis Index, By Component, By Structure, By Mechanism, By Crop Type, and Country, 2024-2030
12.7. Asia-Pacific Vertical Farming Market Dynamics Trends
13. Latin America Vertical Farming Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
13.1. Component Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. Lighting
13.1.2. Hydroponic Components
13.1.3. Climate Control
13.1.4. Sensors
13.1.5. Others
13.2. Structure Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.2.1. Shipping Container
13.2.2. Building-based
13.3. Mechanism Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.3.1. Hydroponics
13.3.2. Aeroponics
13.3.3. Aquaponics
13.4. Crop Type Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.4.1. Fruits and Vegetables
13.4.2. Leafy Greens
13.4.3. Nutraceutical Plants
13.4.4. Others
13.5. Country Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.5.1. Brazil
13.5.2. Mexico
13.5.3. Rest of Latin America
13.6. Latin America Vertical Farming Market - Opportunity Analysis Index, By Component, By Structure, By Mechanism, By Crop Type, and Country, 2024-2030
13.7. Latin America Vertical Farming Market Dynamics Trends
14. Middle East and Africa Vertical Farming Market Analysis, 2019-2030 and Forecast, 2024-2030 (Revenue, USD Mn)
14.1. Component Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.1.1. Lighting
14.1.2. Hydroponic Components
14.1.3. Climate Control
14.1.4. Sensors
14.1.5. Others
14.2. Structure Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.2.1. Shipping Container
14.2.2. Building-based
14.3. Mechanism Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.3.1. Hydroponics
14.3.2. Aeroponics
14.3.3. Aquaponics
14.4. Crop Type Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.4.1. Fruits and Vegetables
14.4.2. Leafy Greens
14.4.3. Nutraceutical Plants
14.4.4. Others
14.5. Country Analysis 2019-2030 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
14.5.1. Gulf Cooperation Council (GCC) Countries
14.5.2. South Africa
14.5.3. Rest of MEA
14.6. MEA Vertical Farming Market - Opportunity Analysis Index, By Component, By Structure, By Mechanism, By Crop Type, and Country, 2024-2030
14.7. MEA Vertical Farming Market Dynamics Trends
15. Competition Landscape 
15.1. Strategic Dashboard of Top Market Players
15.2. Company Profiles (Introduction, Financial Analysis, Key Components, Key Developments, Strategies, and SWOT Analysis)
15.2.1. AeroFarms
15.2.2. Illumitex, Inc.
15.2.3. American Hydroponics
15.2.4. Agrilution GmbH
15.2.5. Brightfarms Inc.
15.2.6. Everlight Electronics Co., Ltd.
15.2.7. Freight Farms
15.2.8. GrowUp Urban Farms Ltd.
15.2.9. Green Sense Farms, LLC
15.2.10. Vertical Farm Systems
16. Research Methodology
17. Key Assumptions and Acronyms

Key Market Players

  • AeroFarms
  • Illumitex, Inc.
  • American Hydroponics
  • Agrilution GmbH
  • Brightfarms Inc.
  • Everlight Electronics Co., Ltd.
  • Freight Farms
  • GrowUp Urban Farms Ltd.
  • Green Sense Farms, LLC
  • Vertical Farm Systems

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