Vertical Farming Market Size, Trends, Growth Factors, and Forecast 2024-2032

ByRavinder Ahlawat
Vertical Farming market (1)

The latest report by IMARC Group, titled “Vertical Farming Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032” provides an extensive analysis of the industry, including vertical farming market trends, size, and growth opportunities. The report also covers competitor and regional analysis and the latest advancements in the global market. The global vertical farming market size reached US$ 5.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 33.3 Billion by 2032, exhibiting a growth rate (CAGR) of 21.41% during 2024-2032.

Vertical Farming Market Overview:

Vertical farming is a revolutionary agricultural practice that involves cultivating crops in vertically stacked layers, often in controlled environments, including warehouses, buildings, or shipping containers. This innovative method employs advanced technologies such as hydroponics, aeroponics, and LED lighting systems to create optimal growing conditions for a wide range of crops, from leafy greens to herbs and even some fruits.

Vertical farms come in various designs, including tower systems, shelves, and racks, each tailored to maximize space utilization and crop yield. This approach to agriculture offers numerous advantages, including year-round production, reduced reliance on traditional arable land, and efficient resource usage. The controlled environment minimizes the need for pesticides and herbicides while significantly decreasing water consumption. It is at the forefront of sustainable agriculture, addressing the challenges of food security and resource scarcity in an increasingly urbanized world.

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Global Vertical Farming Market Trends:

The global vertical farming market is majorly driven by the escalating need for sustainable and efficient food production in densely populated urban areas. Along with this, vertical farming’s ability to grow crops in close proximity to consumers reduces transportation costs and carbon emissions, aligning with the global encouragement for environmentally friendly practices is impacting the market.

In addition, advancements in vertical farming technologies, such as AI-controlled climate systems and vertical stacking innovations, are enhancing productivity and crop quality. Moreover, the growing consumer demand for fresh, locally sourced produce year-round is another key driver, prompting investments in vertical farming infrastructure. Furthermore, the integration of vertical farming into urban planning, including vertical farms in skyscrapers and commercial buildings, is creating a positive market outlook.

Top Vertical Farming Companies Worldwide:

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

Key Market Segmentation:

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)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

  • Market Performance 
  • Market Outlook
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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