Global Vertical Farming Market is projected to reach at USD 25.1 Billion by 2030, at a CAGR of 23.3% during the forecast period 2022-2030.

The global vertical farming market is expected to grow significantly in the coming years

The concept of vertical farming involves cultivating crops in stacked layers or vertically inclined surfaces with the help of artificial lights, environmental control systems, and other technologies. This form of farming enables growers to produce fresh, healthy, and sustainable produce in a controlled environment.

Vertical Farming Market Key Players

The key players operating in the global vertical farming market include

• Aerofarms (US)
• BrightFarms (US)
• AeroGrow International, Inc. (US)
• Vertical Harvest (US)
• Green Sense Farms Holdings, Inc. (US)
• Sky Greens (Singapore)
• Everlight Electronics Co., Ltd. (Taiwan)
• Spread Co., Ltd. (Japan)
• Koninklijke Philips N.V. (Netherlands)
• Illumitex Inc. (US).

These players are focusing on developing advanced technologies and solutions for vertical farming systems to improve crop yields, reduce operational costs, and meet the growing demand for fresh and healthy produce.

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Vertical Farming Market Segmentation

Based on the component, the market is segmented into hardware, software, and services. The hardware segment is expected to hold the largest share of the market, owing to the increasing adoption of vertical farming systems and equipment.

Based on the growth mechanism, the market is segmented into aeroponics, hydroponics, and others. The hydroponics segment is expected to hold the largest share of the market, owing to its high yield and efficiency.

Based on the structure, the market is segmented into building-based and container-based. The building-based segment is expected to hold the largest share of the market, owing to the increasing number of vertical farms set up in buildings.

Based on the crop type, the market is segmented into leafy greens, tomatoes, peppers, cannabis, strawberries, and others. The leafy greens segment is expected to hold the largest share of the market, owing to the high demand for fresh produce among consumers.

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Vertical Farming Market Regional Analysis

The global vertical farming market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.

North America is expected to hold the largest share of the market, owing to the increasing demand for fresh and locally grown produce and the presence of key players in the region.

Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to the increasing adoption of vertical farming techniques and the need for sustainable agricultural practices.

Industry Trends

The global vertical farming market is witnessing several industry trends that are expected to shape the market’s growth trajectory in the coming years.

One of the major trends is the increasing adoption of vertical farming techniques by commercial farmers and agricultural companies. The growing demand for fresh, healthy, and sustainable produce is driving the adoption of vertical farming systems, as they enable growers to produce crops in a controlled environment with higher yields and reduced water usage.

Another trend is the integration of advanced technologies, such as artificial intelligence (AI), machine learning, and the Internet of Things (IoT), into vertical farming systems. These technologies enable growers to monitor and control various environmental parameters, such as temperature, humidity, and light intensity, in real-time, thereby improving crop yields and reducing operational costs.

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Conclusion

The global vertical farming market is expected to witness robust growth in the coming years, owing to the increasing adoption of sustainable agricultural practices, the need for fresh and healthy produce, and the integration of advanced technologies into vertical farming systems. Key players in the market are focusing on developing advanced solutions and equipment to meet the growing demand for vertical farming systems and to improve crop yields and reduce operational

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