Vertical Farming Market

Global Vertical Farming Market Size, Trends & Analysis - Forecasts to 2028 By Structure (Shipping Container and Building-based), By Component (Hardware, Software, and Services), By Growing Mechanism (Hydroponics, Aeroponics, and Aquaponics), By Crop Category (Fruits, Vegetables & Herbs, Flowers & Ornamentals, and Others (Cannabis, Microgreens)), and By Region (North America, Asia Pacific, Central and South America, Europe, and Middle East and Africa), Competitive Landscape, Company Market Share Analysis, and End User Analysis

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This report was recently updated on June 16 2024 with the latest and most recent market numbers

Global Vertical Farming Market Size

The global vertical farming market growth is projected to grow at a CAGR of 20.5% from 2023 to 2028.

With the global population increasing, cultivable land is becoming scarcer. Vertical farming enables the growth of crops within a reduced physical space, offering a practical solution for regions facing land constraints. The increasing urban migration has led to rising urban agriculture trends for fresh produce, and vertical farms can be strategically positioned in proximity to urban hubs, thereby diminishing the necessity for extensive transportation and guaranteeing the availability of fresher agricultural products.

Vertical farms can control environmental conditions, such as temperature, humidity, and lighting, allowing for year-round production. This consistency in supply is attractive to consumers and retailers. Vertical farming uses less water, land, and pesticides than conventional agricultural practices.

Conventional farming is vulnerable to the impacts of climate change and extreme weather conditions, whereas vertical farming offers a controlled environment that is more resilient to external weather variations. The efficiency and cost-effectiveness of vertical farming have been improved through vertical farming innovation in LED lighting, robotics, automation, and data analytics.

The vertical farming market restraints include vertical farming systems relying on artificial lighting, climate regulation, and ventilation mechanisms, which can result in elevated energy consumption and heightened operational expenses. Finding cost-effective and sustainable energy solutions is a challenge. Not all crops are well-suited for vertical farming, and achieving consistently high yields can be difficult for certain plant varieties. Crop selection and optimization are essential for success.

global vertical farming market

Global Vertical Farming Market: By Component

The hardware segment is expected to hold the largest share of the market over the forecast period. The hardware segment is further segmented into lighting, climate control, sensors, and hydroponic components. The lighting segment is expected to be dominant due to the significant use of artificial lights in vertical farms. This is because indoor farming technology has numerous advantages for indoor agriculture environments. LED can be customized to be suitable for different plants, helping plants to produce efficiently. They use less energy, which is a cost-effective method.

The software segment is expected to be the fastest-growing segment in the market from 2023-2028. The growth is attributed to its ability to identify information related to crop batches, land, or fields and supplier details for fruits and vegetables. As cloud-based software accumulates a vast amount of real-time data, it can be analyzed using machine learning methods to understand how alterations in particular environmental factors impact the yield and taste of the final agricultural product.

Global Vertical Farming Market: By Growing Mechanism

The aeroponics segment is anticipated to be the fastest-growing segment in the market from 2023-2028. The anticipated growth is attributed to its soil-less nature, promoting resource efficiency and reduced environmental impact. Its ability to minimize water usage, accelerate plant growth, and yield higher crop productivity contributes to the increasing adoption of aeroponics growing medium.

The hydroponic segment is expected to hold the largest share of the market over the forecast period. The factors contributing to the segment's dominance include its cost-effectiveness, ease of operation, and increased awareness regarding the potential harm of pesticides. Hydroponic farming systems enable plant growth without using soil but with a mineral solution surrounding the plant roots instead of traditional soil.

Global Vertical Farming Market: By Crop Category

The flowers and ornamentals segment is expected to be the fastest-growing segment in the market from 2023-2028. This growth is primarily attributed to the rising demand for flowers and ornamental plants for aesthetic and decorative purposes, driving the segment's growth. Furthermore, vertical farming has a growing trend for cultivating edible flowers, including varieties like marigolds, matthiol, cloves, and snapdragons.

The fruits, vegetables & herbs segment is anticipated to hold the largest share of the market. The segment's growth is driven by the increasing adoption of vertical farming for cultivating fruits and vegetables. Vertical farming is particularly attractive to companies because it maximizes profits without disturbing the land, contributing to improved biodiversity. This segment is further segmented into tomatoes, lettuce, bell and chili peppers, strawberries, cucumbers, leafy greens (excluding lettuce), herbs, and others. Tomato holds a dominant position among others. This dominance is due to the increasing and continuous demand for tomatoes compared to other crops such as lettuce, leafy greens, peppers, cucumbers, herbs, and more.

Global Vertical Farming Market: By Structure

The building-based segment is anticipated to be the fastest-growing segment in the market from 2023-2028. This growth is primarily attributed to the rising acceptance of building-based structures in countries like China, Japan, and other Asian countries. Utilizing building-based farming methods reduces cultivation expenses and necessitates larger land areas than traditional single farming, thus contributing to the assurance of food security.

The shipping container segment is expected to hold the largest share of the market. This growth is primarily attributed to the versatility of shipping containers in enabling crop cultivation regardless of the geographical location. One of the key advantages of container-based farming is the ease of transportation, as it does not require extensive land or dedicated buildings to initiate cultivation. Furthermore, the cost of acquiring used shipping containers decreases with increased competition, making it a cost-effective entry point for other companies to enter this market space.

asia pacific vertical farming market

Global Vertical Farming Market: By Region

North America is expected to be the largest region in the market. The primary reasons boosting the market growth in this region include increasing concerns about food security and the nutritional value of vertical farming crops. Consumers are seeking fresh and locally sourced produce, which vertical farming can provide, thus opening novel opportunities for the industry to grow. Additionally, the expansion of companies into the vertical farming market through increased investment in the infrastructure is anticipated to drive market growth further. For instance, in 2022, Upward Farms, based in Brooklyn, announced its plans to establish an expansive vertical farm spanning 250,000 square feet in Luzerne County, Northeastern Pennsylvania. This facility is scheduled to open in early 2023 and will particularly emphasize cultivating microgreens.

Asia Pacific is predicted to witness rapid growth during the forecast period. This growth can be attributed to the declining cultivable land for traditional agriculture in countries such as China, India, and several other Asian nations. Additionally, water scarcity and the growing food requirements of the substantial populations in India, China, and Japan will likely create new market opportunities throughout the region.

Moreover, the agricultural difficulties within these regions will likely drive the need for advanced farming methods in the years ahead. For instance, in January 2022, India's Union Minister of Road Transport and Highways inaugurated the country's largest vertical farming project to provide the advantages of soil-based vertical agriculture solutions to Indian farmers. These factors are propelling the market toward a growth trajectory.

Global Vertical Farming Market Share and Competitor Analysis

AeroFarms, Illumitex, Inc., American Hydroponics, Agrilution GmbH, Brightfarms Inc., Everlight Electronics Co., Ltd., Freight Farms, GrowUp Urban Farms Ltd., Green Sense Farms, LLC, and Vertical Farm Systems among others, are some of the key players operating in the global vertical farming market.

Please note: This is not an exhaustive list of companies profiled in the report.

Global Vertical Farming Market: Recent Developments

In October 2022, AeroFarms, a U.S.-based leader in indoor vertical farming, announced its expansion from the Northeast region to all Whole Foods Market locations in the U.S. to cater to a growing demand for specialty greens.

In October 2022, Singrow, a Singapore-based agtech firm, announced its plans for a broader expansion within and outside Asia. They intend to introduce their consumer-oriented brand, Blooom, and aim to expand their partner farm network to include the Philippines, Thailand, Hong Kong, and the Middle East, in addition to their existing presence in China, Indonesia, and Singapore.

1          STRATEGIC INSIGHTS ON NEW REVENUE POCKETS

1.1    Strategic Opportunity & Attractiveness Analysis

1.1.1        Hot Revenue Pockets

1.1.2        Market Attractiveness Score

1.1.3        Revenue Impacting Opportunity

1.1.4        High Growing Region/Country

1.1.5        Competitor Analysis

1.1.6        Consumer Analysis

1.2    Global Market Estimates' View

1.3    Strategic Insights across Business Components

1.3.1        For Chief Executive Officers

1.3.2        For Chief Marketing Officers

1.3.3        For Chief Strategy Officers

1.4    Evaluate the Potential of your Existing Business Lines vs. New Lines to Enter Into

2          TECHNOLOGICAL TRENDS

2.1   Technological Adoption Rate

2.2   Current Trend Impact Analysis

2.3   Future Trend Impact Analysis

3          GLOBAL MARKET OUTLOOK

3.1   Market Pyramid Analysis

3.1.1        Introduction

3.1.2        Adjacent Market Opportunities

3.1.3        Ancillary Market Opportunities

3.2   Demand Side Analysis

3.2.1        Market Drivers: Impact Analysis

3.2.2        Market Restraints: Impact Analysis

3.2.3        Market Opportunities: Impact Analysis

3.2.4        Market Challenges: Impact Analysis

3.3   Supply Side Analysis

3.3.1        Porter’s Five Forces Analysis

3.3.1.1 Threat of New Entrants

3.3.1.2 Threat of New Substitutes

3.3.1.3 Bargaining Power of Suppliers

3.3.1.4 Bargaining Power of Buyers

3.3.1.5 Intensity of Competitive Rivalry

3.3.2        SWOT Analysis; By Factor (Political & Legal, Economic, and Technological)

3.3.2.1 Political Landscape

3.3.2.2 Economic Landscape

3.3.2.3 Social Landscape

3.3.2.4 Technology Landscape

3.3.3        Value Chain Analysis

3.3.4        Trend Analysis

3.3.5        Gap Analysis

3.3.6        Cost Analysis

4          GLOBAL VERTICAL FARMING MARKET, BY COMPONENT

4.1   Introduction

4.2   Vertical Farming Market: Component Scope Key Takeaways

4.3   Revenue Growth Analysis, 2022 & 2028

4.4   Hardware

4.4.1        Hardware Market Estimates and Forecast, 2020-2028 (USD Million)

4.5   Software

4.5.1        Software Market Estimates and Forecast, 2020-2028 (USD Million)

4.6   Services

4.6.1        Services Market Estimates and Forecast, 2020-2028 (USD Million)

5          GLOBAL VERTICAL FARMING MARKET, BY GROWING MECHANISM

5.1   Introduction

5.2   Vertical Farming Market: Growing Mechanism Scope Key Takeaways

5.3   Revenue Growth Analysis, 2022 & 2028

5.4   Hydroponics

5.4.1        Hydroponics Market Estimates and Forecast, 2020-2028 (USD Million)

5.5   Aeroponics

5.5.1        Aeroponics Market Estimates and Forecast, 2020-2028 (USD Million)

5.6   Aquaponics

5.6.1        Aquaponics Market Estimates and Forecast, 2020-2028 (USD Million)

6         GLOBAL VERTICAL FARMING MARKET, BY CROP CATEGORY

6.1   Introduction

6.2   Vertical Farming Market: Crop Category Scope Key Takeaways

6.3   Revenue Growth Analysis, 2022 & 2028

6.4   Fruits, Vegetables & Herbs

6.4.1        Fruits, Vegetables & Herbs Market Estimates and Forecast, 2020-2028 (USD Million)

6.5   Flowers & Ornamentals

6.5.1        Flowers & Ornamentals Market Estimates and Forecast, 2020-2028 (USD Million)

6.6   Others (Cannabis, Microgreens)

6.6.1        Others (Cannabis, Microgreens) Market Estimates and Forecast, 2020-2028 (USD Million)

7         GLOBAL VERTICAL FARMING MARKET, BY STRUCTURE

7.1   Introduction

7.2   Vertical Farming Market: Structure Scope Key Takeaways

7.3   Revenue Growth Analysis, 2022 & 2028

7.4   Shipping Container

7.4.1        Shipping Container Market Estimates and Forecast, 2020-2028 (USD Million)

7.5   Building-based

7.5.1        Building-based Market Estimates and Forecast, 2020-2028 (USD Million)

8          GLOBAL VERTICAL FARMING MARKET, BY REGION

8.1   Introduction

8.2   North America Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.2.1        By Component

8.2.2        By Growing Mechanism

8.2.3        By Crop Category

8.2.4        By Structure  

8.2.5        By Country

8.2.5.1     U.S. Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.2.5.1.1        By Component

8.2.5.1.2        By Growing Mechanism

8.2.5.1.3        By Crop Category

8.2.5.1.4        By Structure

8.2.5.2     Canada Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.2.5.2.1        By Component

8.2.5.2.2        By Growing Mechanism

8.2.5.2.3        By Crop Category

8.2.5.2.4        By Structure

8.2.5.3     Mexico Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.2.5.3.1        By Component

8.2.5.3.2        By Growing Mechanism

8.2.5.3.3        By Crop Category

8.2.5.3.4        By Structure

8.3   Europe Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.3.1        By Component

8.3.2        By Growing Mechanism

8.3.3        By Crop Category

8.3.4        By Structure  

8.3.5        By Country

8.3.5.1     Germany Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.3.5.1.1        By Component

8.3.5.1.2        By Growing Mechanism

8.3.5.1.3        By Crop Category

8.3.5.1.4        By Structure

8.3.5.2     U.K. Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.3.5.2.1        By Component

8.3.5.2.2        By Growing Mechanism

8.3.5.2.3        By Crop Category

8.3.5.2.4        By Structure

8.3.5.3     France Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.3.5.3.1        By Component

8.3.5.3.2        By Growing Mechanism

8.3.5.3.3        By Crop Category

8.3.5.3.4        By Structure

8.3.5.4     Italy Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.3.5.4.1        By Component

8.3.5.4.2        By Growing Mechanism

8.3.5.4.3        By Crop Category

8.3.5.4.4        By Structure

8.3.5.5     Spain Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.3.5.5.1        By Component

8.3.5.5.2        By Growing Mechanism

8.3.5.5.3        By Crop Category

8.3.5.5.4        By Structure

8.3.5.6     Netherlands Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.3.5.6.1        By Component

8.3.5.6.2        By Growing Mechanism

8.3.5.6.3        By Crop Category

8.3.5.6.4        By Structure

8.3.5.7     Rest of Europe Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.3.5.7.1        By Component

8.3.5.7.2        By Growing Mechanism

8.3.5.7.3        By Crop Category

8.3.5.7.4        By Structure

8.4   Asia Pacific Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.1        By Component

8.4.2        By Growing Mechanism

8.4.3        By Crop Category

8.4.4        By Structure  

8.4.5        By Country

8.4.5.1     China Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.1.1        By Component

8.4.5.1.2        By Growing Mechanism

8.4.5.1.3        By Crop Category

8.4.5.1.4        By Structure

8.4.5.2     Japan Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.2.1        By Component

8.4.5.2.2        By Growing Mechanism

8.4.5.2.3        By Crop Category

8.4.5.2.4        By Structure

8.4.5.3     India Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.3.1        By Component

8.4.5.3.2        By Growing Mechanism

8.4.5.3.3        By Crop Category

8.4.5.3.4        By Structure

8.4.5.4     South Korea Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.4.1        By Component

8.4.5.4.2        By Growing Mechanism

8.4.5.4.3        By Crop Category

8.4.5.4.4        By Structure

8.4.5.5     Singapore Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.5.1        By Component

8.4.5.5.2        By Growing Mechanism

8.4.5.5.3        By Crop Category

8.4.5.5.4        By Structure

8.4.5.6     Malaysia Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.6.1        By Component

8.4.5.6.2        By Growing Mechanism

8.4.5.6.3        By Crop Category

8.4.5.6.4        By Structure

8.4.5.7     Thailand Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.7.1        By Component

8.4.5.7.2        By Growing Mechanism

8.4.5.7.3        By Crop Category

8.4.5.7.4        By Structure

8.4.5.8     Indonesia Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.8.1        By Component

8.4.5.8.2        By Growing Mechanism

8.4.5.8.3        By Crop Category

8.4.5.8.4        By Structure

8.4.5.9     Vietnam Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.9.1        By Component

8.4.5.9.2        By Growing Mechanism

8.4.5.9.3        By Crop Category

8.4.5.9.4        By Structure

8.4.5.10  Taiwan Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.10.1      By Component

8.4.5.10.2      By Growing Mechanism

8.4.5.10.3      By Crop Category

8.4.5.10.4      By Structure

8.4.5.11  Rest of Asia Pacific Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.11.1      By Component

8.4.5.11.2      By Growing Mechanism

8.4.5.11.3      By Crop Category

8.4.5.11.4      By Structure

8.5   Middle East and Africa Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.5.1        By Component

8.5.2        By Growing Mechanism

8.5.3        By Crop Category

8.5.4        By Structure  

8.5.5        By Country

8.5.5.1     Saudi Arabia Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.5.5.1.1        By Component

8.5.5.1.2        By Growing Mechanism

8.5.5.1.3        By Crop Category

8.5.5.1.4        By Structure

8.5.5.2     U.A.E. Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.5.5.2.1        By Component

8.5.5.2.2        By Growing Mechanism

8.5.5.2.3        By Crop Category

8.5.5.2.4        By Structure

8.5.5.3     Israel Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.5.4.3.1        By Component

8.5.4.3.2        By Growing Mechanism

8.5.4.3.3        By Crop Category

8.5.5.3.4        By Structure

8.5.5.4     South Africa Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.5.5.4.1        By Component

8.5.5.4.2        By Growing Mechanism

8.5.5.4.3        By Crop Category

8.5.5.4.4        By Structure

8.5.5.5     Rest of Middle East and Africa Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.5.5.5.1        By Component

8.5.5.5.2        By Growing Mechanism

8.5.5.5.2        By Crop Category

8.5.5.5.4        By Structure

8.6   Central and South America Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.6.1        By Component

8.6.2        By Growing Mechanism

8.6.3        By Crop Category

8.6.4        By Structure

8.6.5        By Country

8.6.5.1     Brazil Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.6.5.1.1        By Component

8.6.5.1.2        By Growing Mechanism

8.6.5.1.3        By Crop Category

8.6.5.1.4        By Structure

8.6.5.2     Argentina Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.6.5.2.1        By Component

8.6.5.2.2        By Growing Mechanism

8.6.5.2.3        By Crop Category

8.6.5.2.4        By Structure

8.6.5.3     Chile Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.6.5.3.1        By Component

8.6.5.3.2        By Growing Mechanism

8.6.5.3.3        By Crop Category

8.6.5.5.4        By Structure

8.6.5.4     Rest of Central and South America Vertical Farming Market Estimates and Forecast, 2020-2028 (USD Million)

8.6.5.4.1        By Component

8.6.5.4.2        By Growing Mechanism

8.6.5.4.3        By Crop Category

8.6.5.4.4        By Structure

9          COMPETITIVE LANDCAPE

9.1   Company Market Share Analysis

9.2   Four Quadrant Positioning Matrix

9.2.1        Market Leaders

9.2.2        Market Visionaries

9.2.3        Market Challengers

9.2.4        Niche Market Players

9.3   Vendor Landscape

9.3.1        North America

9.3.2        Europe

9.3.3        Asia Pacific

9.3.4        Rest of the World

9.4   Company Profiles  

9.4.1        AeroFarms

9.4.1.1 Business Description & Financial Analysis

9.4.1.2 SWOT Analysis

9.4.1.3 Products & Services Offered

9.4.1.4 Strategic Alliances between Business Partners

9.4.2        Illumitex, Inc.

9.4.2.1 Business Description & Financial Analysis

9.4.2.2 SWOT Analysis

9.4.2.3 Products & Services Offered

9.4.2.4 Strategic Alliances between Business Partners

9.4.3        American Hydroponics

9.4.3.1 Business Description & Financial Analysis

9.4.3.2 SWOT Analysis

9.4.3.3 Products & Services Offered

9.4.3.4 Strategic Alliances between Business Partners

9.4.4        Agrilution GmbH

9.4.4.1 Business Description & Financial Analysis

9.4.4.2 SWOT Analysis

9.4.4.3 Products & Services Offered

9.4.4.4 Strategic Alliances between Business Partners

9.4.5        Brightfarms Inc.

9.4.5.1 Business Description & Financial Analysis

9.4.5.2 SWOT Analysis

9.4.5.3 Products & Services Offered

9.4.5.4 Strategic Alliances between Business Partners

9.4.6        Everlight Electronics Co., Ltd.

9.4.6.1 Business Description & Financial Analysis

9.4.6.2 SWOT Analysis

9.4.6.3 Products & Services Offered

9.4.6.4 Strategic Alliances between Business Partners

9.4.7        Freight Farms  

9.4.7.1 Business Description & Financial Analysis

9.4.7.2 SWOT Analysis

9.4.7.3 Products & Services Offered

9.4.8.4 Strategic Alliances between Business Partners

9.4.8        GrowUp Urban Farms Ltd.

9.4.8.1 Business Description & Financial Analysis

9.4.8.2 SWOT Analysis

9.4.8.3 Products & Services Offered

9.4.8.4 Strategic Alliances between Business Partners

9.4.9        Green Sense Farms, LLC

9.4.9.1 Business Description & Financial Analysis

9.4.9.2 SWOT Analysis

9.4.9.3 Products & Services Offered

9.4.9.4 Strategic Alliances between Business Partners

9.4.10       Vertical Farm Systems

9.4.10.1 Business Description & Financial Analysis

9.4.10.2 SWOT Analysis

9.4.10.3 Products & Services Offered

9.4.10.4 Strategic Alliances between Business Partners

9.4.11      Other Companies

9.4.11.1 Business Description & Financial Analysis

9.4.11.2 SWOT Analysis

9.4.11.3 Products & Services Offered

9.4.11.4 Strategic Alliances between Business Partners

10        RESEARCH METHODOLOGY

10.1 Market Introduction

10.1.1      Market Definition

10.1.2      Market Scope & Segmentation

10.2 Information Procurement

10.2.1      Secondary Research

10.2.1.1           Purchased Databases

10.2.1.2           GMEs Internal Data Repository

10.2.1.3           Secondary Resources & Third Party Perspectives

10.2.1.4           Company Information Sources

10.2.2      Primary Research

10.2.2.1           Various Types of Respondents for Primary Interviews

10.2.2.2           Number of Interviews Conducted throughout the Research Process

10.2.2.3           Primary Stakeholders

10.2.2.4           Discussion Guide for Primary Participants

10.2.3      Expert Panels

10.2.3.1           Expert Panels Across 30+ Industry

10.2.4      Paid Local Experts

10.2.4.1           Paid Local Experts Across 30+ Industry Across each Region

10.3 Market Estimation

10.3.1      Top-Down Approach

10.3.1.1           Macro-Economic Indicators Considered

10.3.1.2           Micro-Economic Indicators Considered

10.3.2      Bottom Up Approach

10.3.2.1           Company Share Analysis Approach

10.3.2.2           Estimation of Potential Product Sales

10.4 Data Triangulation

10.4.1      Data Collection

10.4.2      Time Series, Cross Sectional & Panel Data Analysis

10.4.3      Cluster Analysis

10.5 Analysis and Output

10.5.1      Inhouse AI Based Real Time Analytics Tool

10.5.2      Output From Desk & Primary Research

10.6 Research Assumptions & Limitations

10.7.1      Research Assumptions

10.7.2      Research Limitations

LIST OF TABLES

1 Global Vertical Farming Market, By Component, 2020-2028 (USD Mllion)

2 Hardware Market, By Region, 2020-2028 (USD Mllion)        

3 Software Market, By Region, 2020-2028 (USD Mllion)         

4 Services Market, By Region, 2020-2028 (USD Mllion)           

5 Global Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Mllion)

6 Hydroponics Market, By Region, 2020-2028 (USD Mllion)  

7 Aeroponics Market, By Region, 2020-2028 (USD Mllion)

8 Aquaponics Market, By Region, 2020-2028 (USD Mllion)

9 Global Vertical Farming Market, By Crop Category, 2020-2028 (USD Mllion)

10 Fruits, Vegetables & Herbs Market, By Region, 2020-2028 (USD Mllion)  

11 Flowers & Ornamentals Market, By Region, 2020-2028 (USD Mllion)        

12 Others (Cannabis, Microgreens) Market, By Region, 2020-2028 (USD Mllion)      

13 Global Vertical Farming Market, By STRUCTURE, 2020-2028 (USD Mllion)

14 Shipping Container Market, By Region, 2020-2028 (USD Mllion)   

15 Building-based Market, By Region, 2020-2028 (USD Mllion)            

16 Regional Analysis, 2020-2028 (USD Mllion)

17 North America Vertical Farming Market, By Component, 2020-2028 (USD Million)

18 North America Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

19 North America Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

20 North America Vertical Farming Market, By Structure, 2020-2028 (USD Million)

21 North America Vertical Farming Market, By Country, 2020-2028 (USD Million)

22 U.S Vertical Farming Market, By Component, 2020-2028 (USD Million)

23 U.S Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

24 U.S Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

25 U.S Vertical Farming Market, By Structure, 2020-2028 (USD Million)

26 Canada Vertical Farming Market, By Component, 2020-2028 (USD Million)

27 Canada Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

28 Canada Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

29 CANADA Vertical Farming Market, By Structure, 2020-2028 (USD Million)

30 Mexico Vertical Farming Market, By Component, 2020-2028 (USD Million)

31 Mexico Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

32 Mexico Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

33 mexico Vertical Farming Market, By Structure, 2020-2028 (USD Million)

34 Europe Vertical Farming Market, By Component, 2020-2028 (USD Million)

35 Europe Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

36 Europe Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

37 europe Vertical Farming Market, By Structure, 2020-2028 (USD Million)

38 europe Vertical Farming Market, By country, 2020-2028 (USD Million)

39 Germany Vertical Farming Market, By Component, 2020-2028 (USD Million)

40 Germany Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

41 Germany Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

42 germany Vertical Farming Market, By Structure, 2020-2028 (USD Million)

43 U.K Vertical Farming Market, By Component, 2020-2028 (USD Million)

44 U.K Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

45 U.K Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

46 U.k Vertical Farming Market, By Structure, 2020-2028 (USD Million)

47 France Vertical Farming Market, By Component, 2020-2028 (USD Million)

48 France Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

49 France Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

50 france Vertical Farming Market, By Structure, 2020-2028 (USD Million)

51 Italy Vertical Farming Market, By Component, 2020-2028 (USD Million)

52 Italy Vertical Farming Market, By T Growing Mechanism Type, 2020-2028 (USD Million)

53 Italy Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

54 italy Vertical Farming Market, By Structure, 2020-2028 (USD Million)

55 Spain Vertical Farming Market, By Component, 2020-2028 (USD Million)

56 Spain Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

57 Spain Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

58 spain Vertical Farming Market, By Structure, 2020-2028 (USD Million)

59 Rest Of Europe Vertical Farming Market, By Component, 2020-2028 (USD Million)

60 Rest Of Europe Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

61 Rest of Europe Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

62 REST OF EUROPE Vertical Farming Market, By Structure, 2020-2028 (USD Million)

63 Asia Pacific Vertical Farming Market, By Component, 2020-2028 (USD Million)

64 Asia Pacific Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

65 Asia Pacific Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

66 asia pacific Vertical Farming Market, By Structure, 2020-2028 (USD Million)

67 Asia Pacific Vertical Farming Market, By Country, 2020-2028 (USD Million)

68 China Vertical Farming Market, By Component, 2020-2028 (USD Million)

69 China Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

70 China Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

71 china Vertical Farming Market, By Structure, 2020-2028 (USD Million)

72 India Vertical Farming Market, By Component, 2020-2028 (USD Million)

73 India Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

74 India Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

75 india Vertical Farming Market, By Structure, 2020-2028 (USD Million)

76 Japan Vertical Farming Market, By Component, 2020-2028 (USD Million)

77 Japan Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

78 Japan Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

79 japan Vertical Farming Market, By Structure, 2020-2028 (USD Million)

80 South Korea Vertical Farming Market, By Component, 2020-2028 (USD Million)

81 South Korea Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

82 South Korea Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

83 south korea Vertical Farming Market, By Structure, 2020-2028 (USD Million)

84 Singapore Vertical Farming Market, By Component, 2020-2028 (USD Million)

85 Singapore Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

86 Singapore Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

87 Singapore Vertical Farming Market, By Structure, 2020-2028 (USD Million)

88 Malaysia Vertical Farming Market, By Component, 2020-2028 (USD Million)

89 Malaysia Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

90 Malaysia Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

91 Malaysia Vertical Farming Market, By Structure, 2020-2028 (USD Million)

92 Thailand Vertical Farming Market, By Component, 2020-2028 (USD Million)

93 Thailand Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

94 Thailand Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

95 Thailand Vertical Farming Market, By Structure, 2020-2028 (USD Million)

96 Indonesia Vertical Farming Market, By Component, 2020-2028 (USD Million)

97 Indonesia Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

98 Indonesia Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

99 Indonesia Vertical Farming Market, By Structure, 2020-2028 (USD Million)

100 Vietnam Vertical Farming Market, By Component, 2020-2028 (USD Million)

101 Vietnam Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

102 Vietnam Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

103 Vietnam Vertical Farming Market, By Structure, 2020-2028 (USD Million)

104 Taiwan Vertical Farming Market, By Component, 2020-2028 (USD Million)

105 Taiwan Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

106 Taiwan Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

107 Taiwan Vertical Farming Market, By Structure, 2020-2028 (USD Million)

108 Rest Of Asia Pacific Vertical Farming Market, By Component, 2020-2028 (USD Million)

109 Rest Of Asia Pacific Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

110 Rest of Asia Pacific Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

111 REST OF Asia Pacific Vertical Farming Market, By Structure, 2020-2028 (USD Million)

112 Middle East and Africa Vertical Farming Market, By Component, 2020-2028 (USD Million)

113 Middle East and Africa Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

114 Middle East and Africa Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

115 MIDDLE EAST and AFRICA Vertical Farming Market, By Structure, 2020-2028 (USD Million)

116 Middle East and Africa Vertical Farming Market, By Country, 2020-2028 (USD Million)

117 Saudi Arabia Vertical Farming Market, By Component, 2020-2028 (USD Million)

118 Saudi Arabia Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

119 Saudi Arabia Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

120 saudi arabia Vertical Farming Market, By Structure, 2020-2028 (USD Million)

121 UAE Vertical Farming Market, By Component, 2020-2028 (USD Million)

122 UAE Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

123 UAE Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

124 uae Vertical Farming Market, By Structure, 2020-2028 (USD Million)

125 Israel Vertical Farming Market, By Component, 2020-2028 (USD Million)

126 Israel Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

127 Israel Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

128 Israel Vertical Farming Market, By Structure, 2020-2028 (USD Million)

129 South Africa Vertical Farming Market, By Component, 2020-2028 (USD Million)

130 South Africa Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

131 South Africa Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

132 South Africa Vertical Farming Market, By Structure, 2020-2028 (USD Million)

133 Rest Of Middle East and Africa Vertical Farming Market, By Component, 2020-2028 (USD Million)

134 Rest Of Middle East and Africa Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

135 Rest of Middle East and Africa Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

136 REST OF Middle East and Africa Vertical Farming Market, By Structure, 2020-2028 (USD Million)

137 Central and South America Vertical Farming Market, By Component, 2020-2028 (USD Million)

138 Central and South America Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

139 Central and South America Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

140 CENTRAL and SOUTH AMERICA Vertical Farming Market, By Structure, 2020-2028 (USD Million)

141 Central and South America Vertical Farming Market, By Country, 2020-2028 (USD Million)

142 Brazil Vertical Farming Market, By Component, 2020-2028 (USD Million)

143 Brazil Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

144 Brazil Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

145 brazil Vertical Farming Market, By Structure, 2020-2028 (USD Million)

146 Argentina Vertical Farming Market, By Component, 2020-2028 (USD Million)

147 Argentina Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

148 Argentina Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

149 Argentina Vertical Farming Market, By Structure, 2020-2028 (USD Million)

150 Chile Vertical Farming Market, By Component, 2020-2028 (USD Million)

151 Chile Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

152 Chile Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

153 Chile Vertical Farming Market, By Structure, 2020-2028 (USD Million)

154 Rest Of Central and South America Vertical Farming Market, By Component, 2020-2028 (USD Million)

155 Rest Of Central and South America Vertical Farming Market, By Growing Mechanism, 2020-2028 (USD Million)

156 Rest of Central and South America Vertical Farming Market, By Crop Category, 2020-2028 (USD Million)

157 REST OF Central and South America Vertical Farming Market, By Structure, 2020-2028 (USD Million)

158 AeroFarms: Products & Services Offering

159 Illumitex, Inc.: Products & Services Offering          

160 American Hydroponics: Products & Services Offering     

161 Agrilution GmbH: Products & Services Offering   

162 Brightfarms Inc.: Products & Services Offering  

163 EVERLIGHT ELECTRONICS CO., LTD.: Products & Services Offering    

164 Freight Farms : Products & Services Offering        

165 GrowUp Urban Farms Ltd.: Products & Services Offering               

166 Green Sense Farms, LLC, Inc: Products & Services Offering           

167  Vertical Farm Systems: Products & Services Offering     

168 Other Companies: Products & Services Offering  

LIST OF FIGURES

1 Global Vertical Farming Market Overview

2 Global Vertical Farming Market Value From 2020-2028 (USD Mllion)

3 Global Vertical Farming Market Share, By Component (2022)

4 Global Vertical Farming Market Share, By Growing Mechanism (2022)

5 Global Vertical Farming Market Share, By Crop Category (2022)

6 Global Vertical Farming Market Share, By Structure (2022)

7 Global Vertical Farming Market, By Region (Asia Pacific Market)

8 Technological Trends In Global Vertical Farming Market

9 Four Quadrant Competitor Positioning Matrix

10 Impact Of Macro & Micro Indicators On The Market

11 Impact Of Key Drivers On The Global Vertical Farming Market

12 Impact Of Challenges On The Global Vertical Farming Market

13 Porter’s Five Forces Analysis

14 Global Vertical Farming Market: By Component Scope Key Takeaways

15 Global Vertical Farming Market, By Component Segment: Revenue Growth Analysis

16 Hardware Market, By Region, 2020-2028 (USD Mllion)          

17 Software Market, By Region, 2020-2028 (USD Mllion)

18 Services Market, By Region, 2020-2028 (USD Mllion)

19 Global Vertical Farming Market: By Growing Mechanism Scope Key Takeaways

20 Global Vertical Farming Market, By Growing Mechanism Segment: Revenue Growth Analysis

21 Hydroponics Market, By Region, 2020-2028 (USD Mllion)     

22 Aeroponics Market, By Region, 2020-2028 (USD Mllion)

23 Aquaponics Market, By Region, 2020-2028 (USD Mllion)

24 Global Vertical Farming Market: By Crop Category Scope Key Takeaways

25 Global Vertical Farming Market, By Crop Category Segment: Revenue Growth Analysis

26 Fruits, Vegetables & Herbs Market, By Region, 2020-2028 (USD Mllion)

27 Flowers & Ornamentals Market, By Region, 2020-2028 (USD Mllion)

28 Others (Cannabis, Microgreens) Market, By Region, 2020-2028 (USD Mllion)       

29 Global Vertical Farming Market: By Structure Scope Key Takeaways

30 Global Vertical Farming Market, By Structure Segment: Revenue Growth Analysis

31 Shipping Container Market, By Region, 2020-2028 (USD Mllion)      

32 Building-based Market, By Region, 2020-2028 (USD Mllion)

33 Regional Segment: Revenue Growth Analysis

34 Global Vertical Farming Market: Regional Analysis

35 North America Vertical Farming Market Overview

36 North America Vertical Farming Market, By Component

37 North America Vertical Farming Market, By Growing Mechanism

38 North America Vertical Farming Market, By Crop Category

39 North America Vertical Farming Market, By Structure

40 North America Vertical Farming Market, By Country

41 U.S. Vertical Farming Market, By Component

42 U.S. Vertical Farming Market, By Growing Mechanism

43 U.S. Vertical Farming Market, By Crop Category

44 U.S. Vertical Farming Market, By Structure

45 Canada Vertical Farming Market, By Component

46 Canada Vertical Farming Market, By Growing Mechanism

47 Canada Vertical Farming Market, By Crop Category

48 Canada Vertical Farming Market, By Structure

49 Mexico Vertical Farming Market, By Component

50 Mexico Vertical Farming Market, By Growing Mechanism

51 Mexico Vertical Farming Market, By Crop Category

52 Mexico Vertical Farming Market, By Structure

53 Four Quadrant Positioning Matrix

54 Company Market Share Analysis

55 AeroFarms: Company Snapshot

56 AeroFarms: SWOT Analysis

57 AeroFarms: Geographic Presence

58 Illumitex, Inc.: Company Snapshot

59 Illumitex, Inc.: SWOT Analysis

60 Illumitex, Inc.: Geographic Presence

61 American Hydroponics: Company Snapshot

62 American Hydroponics: SWOT Analysis

63 American Hydroponics: Geographic Presence

64 Agrilution GmbH: Company Snapshot

65 Agrilution GmbH: Swot Analysis

66 Agrilution GmbH: Geographic Presence

67 Brightfarms Inc.: Company Snapshot

68 Brightfarms Inc.: SWOT Analysis

69 Brightfarms Inc.: Geographic Presence

70 Everlight Electronics Co., Ltd.: Company Snapshot

71 Everlight Electronics Co., Ltd.: SWOT Analysis

72 Everlight Electronics Co., Ltd.: Geographic Presence

73 Freight Farms : Company Snapshot

74 Freight Farms : SWOT Analysis

75 Freight Farms : Geographic Presence

76 GrowUp Urban Farms Ltd.: Company Snapshot

77 GrowUp Urban Farms Ltd.: SWOT Analysis

78 GrowUp Urban Farms Ltd.: Geographic Presence

79 Green Sense Farms, LLC, Inc.: Company Snapshot

80 Green Sense Farms, LLC, Inc.: SWOT Analysis

81 Green Sense Farms, LLC, Inc.: Geographic Presence

82 Vertical Farm Systems: Company Snapshot

83 Vertical Farm Systems: SWOT Analysis

84 Vertical Farm Systems: Geographic Presence

85 Other Companies: Company Snapshot

86 Other Companies: SWOT Analysis

87 Other Companies: Geographic Presence

The Global Vertical Farming Market has been studied from the year 2019 till 2028. However, the CAGR provided in the report is from the year 2023 to 2028. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

Vertical Farming Market Size

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Vertical Farming Market.

Vertical Farming Market Growth

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Vertical Farming Market Trends

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

Vertical Farming Market Share

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Frequently Asked Questions

The global vertical farming market is projected to grow at a CAGR of 20.5% from 2023 to 2028.
AeroFarms, Illumitex, Inc., American Hydroponics, Agrilution GmbH, Brightfarms Inc., Everlight Electronics Co., Ltd., Freight Farms, GrowUp Urban Farms Ltd., Green Sense Farms, LLC, and Vertical Farm Systems among others, are some of the key players operating in the global vertical farming market.
The global vertical farming market is expected to gain opportunities due to the increasing urbanization, limited arable land, and a growing focus on sustainable agriculture. These include higher crop yields, reduced water and land usage, year-round cultivation, and the potential for localized food production, addressing food security and environmental concerns.
The increasing urbanization, rising demand for locally grown, fresh produce, and the need for sustainable agricultural practices are expected to drive the market growth. Additionally, advancements in vertical farming technology, efficient space utilization, reduced water usage, and the ability to grow crops year-round are the major drivers for the global vertical farming market growth.

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