The global market for Vertical Farming is estimated at US$4.4 Billion in 2023 and is projected to reach US$12.5 Billion by 2030, growing at a CAGR of 16.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the vertical farming market is driven by several factors, including advancements in agricultural technology, increasing consumer preference for locally grown and organic produce, and the rising need for sustainable agricultural practices. Expanding global population and the rising demand for a variety of foods and crops is necessitating focus on alternative farming conditions as supplements to traditional cultivation. Declining availability of arable land worldwide and the rising need for food security are fueling growth in the vertical farming market. Innovations in sensor technology, artificial intelligence, and data analytics allow for real-time monitoring and optimization of crop growth conditions, leading to higher productivity and efficiency. The trend towards urbanization and the accompanying reduction in arable land push the demand for alternative farming methods that can thrive in limited spaces. Additionally, government initiatives and investments in sustainable farming projects, coupled with the private sector`s interest in innovative agribusiness models, are fueling the market`s expansion. Changing consumer behavior, with a growing awareness of health and environmental issues, also plays a crucial role, as more people seek fresh, pesticide-free produce. Overall, the vertical farming market is set to grow robustly, supported by technological advancements, market demand, and sustainability imperatives.
The growth in the vertical farming market is driven by several factors, including advancements in agricultural technology, increasing consumer preference for locally grown and organic produce, and the rising need for sustainable agricultural practices. Expanding global population and the rising demand for a variety of foods and crops is necessitating focus on alternative farming conditions as supplements to traditional cultivation. Declining availability of arable land worldwide and the rising need for food security are fueling growth in the vertical farming market. Innovations in sensor technology, artificial intelligence, and data analytics allow for real-time monitoring and optimization of crop growth conditions, leading to higher productivity and efficiency. The trend towards urbanization and the accompanying reduction in arable land push the demand for alternative farming methods that can thrive in limited spaces. Additionally, government initiatives and investments in sustainable farming projects, coupled with the private sector`s interest in innovative agribusiness models, are fueling the market`s expansion. Changing consumer behavior, with a growing awareness of health and environmental issues, also plays a crucial role, as more people seek fresh, pesticide-free produce. Overall, the vertical farming market is set to grow robustly, supported by technological advancements, market demand, and sustainability imperatives.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Vertical Farming Lighting segment, which is expected to reach US$4.0 Billion by 2030 with a CAGR of a 16.1%. The Hydroponic Components segment is also set to grow at 15.7% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $981.2 Million in 2023, and China, forecasted to grow at an impressive 18.1% CAGR to reach $1.7 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Vertical Farming Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Vertical Farming Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Vertical Farming Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Samsung Group, OSRAM GmbH, Heliospectra AB, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 70 Featured):
- Samsung Group
- OSRAM GmbH
- Heliospectra AB
- Agrilution GmbH
- American Hydroponics
- Fluence Bioengineering, Inc.
- Vertical Farm Systems Pty Ltd.
- Valoya Oy
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAITALYREST OF EUROPEREST OF WORLDIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
UNITED KINGDOM
ASIA-PACIFIC
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Samsung Group
- OSRAM GmbH
- Heliospectra AB
- Agrilution GmbH
- American Hydroponics
- Fluence Bioengineering, Inc.
- Vertical Farm Systems Pty Ltd.
- Valoya Oy
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 311 |
| Published | October 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 4.4 Billion |
| Forecasted Market Value ( USD | $ 12.5 Billion |
| Compound Annual Growth Rate | 16.2% |
| Regions Covered | Global |
