The global vertical farming market is anticipated to grow significantly at a CAGR of 19.2% over the forecast period. The key aspect that drives the growth of the global vertical farming market is the need for sustainable farming options owing to the limited accessibility and expensive land. Numerous factors such as the growth of population along with its growing needs, earth erosion, different forms of contamination, elimination of natural sources owing to the rising cities, the advent of biofuels, restrictions imposed on food production techniques affected by customers, and the requirements of the better-quality food products with less chemical used are some of the factors that encourage the growth of the vertical farming market over the forecast period.
Besides, the presence of the key players continuously innovating novel technologies also enhances market growth. Players such as AeroFarms LLC, Illumitex Inc., Koninklijke Philips N.V., Everlight Electronics Co. Ltd., Hort Americas, LLC, Signify Holding, Sky Greens Pte. Ltd., American Hydroponic Systems Inc., Vertical Farm Systems among others substantially contribute to the market growth. For instance, in January 2020, Freight Farms partnered with a France-based food services and facility management company Sodexo, for facilitating schools and universities in the US with the latest hydroponic vertical farming technology. Hence, this is likely to promote the adoption of vertical farming techniques and in turn, will enhance the growth of the market over the forecast period.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered- By Structure Type, Growth Mechanism, and Components
Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
Competitive Landscape- AeroFarms LLC, Illumitex Inc., Koninklijke Philips N.V., Everlight Electronics Co. Ltd., Hort Americas, LLC, Signify Holding, Sky Greens Pte. Ltd., American Hydroponic Systems Inc., Vertical Farm Systems among others
Vertical Farming Market – Segmentation
By Structure Type
- Building-based Vertical Farming
- Shipping Container-based Vertical Farming
By Growth Mechanism
- Aeroponics
- Hydroponics
- Aquaponics
By Component
- Sensors
- Lighting
- Climatic Controls
- Irrigation Component
- Building Material
- Other Components
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Vertical Farming Market – Segmentation by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- 4D Bios Inc.
- AeroFarms
- Agrilution GmbH
- Alesca Life Technologies Ltd.
- American Hydroponics Systems Inc. (AMHYDRO)
- Bowery Farming Inc.
- CropBox (Vertial Crop Consultants)
- Everlight Electronics Co., Ltd.
- FarmvisionAI (Illumitex Inc.)
- Freight Farms
- General Hydroponics Inc.
- Gills N Claws Pte. Ltd.
- Gotham Greens
- Green Sense Farms Holdings, Inc.
- GreenTechAgro LLC
- Growpod (GP) Solutions
- GrowUp Farms Ltd.
- Heliospectra AB
- Hort Americas
- Indoor Harvest Corp.
- Intelligent Growth Solutions Ltd.
- Mirai Co. Ltd.
- Plantagon International
- Signify Holding (Koninklijke Philips N.V.)
- Sky Greens Pte. Ltd.
- SPREAD Co. Ltd.
- Vertical Farm Systems
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