Summary

Vertical Farming Market Size
The global vertical farming market size was valued at $8.37 billion in 2024 and is projected to reach $26.28 billion by 2030, growing at a CAGR of 21.0% during the forecast period.

Vertical Farming Market Overview
Vertical farming is an innovative agricultural technique that involves growing crops in vertically stacked layers or vertically inclined surfaces, often in controlled environments such as warehouses, skyscrapers, or shipping containers. This method utilizes advanced technologies such as hydroponics, aeroponics, and aquaponics to provide nutrients and water to plants without soil, while also controlling environmental factors like light, temperature, and humidity. Vertical farming aims to maximize crop yields in minimal space, making it particularly suitable for urban areas where land is limited. By minimizing the need for traditional agricultural resources like land and water, vertical farming offers potential benefits such as reduced transportation costs, lower environmental impact, and year-round production of fresh, locally grown produce. This approach to farming is seen as a sustainable solution to future food security challenges.

Vertical Farming Market Dynamics
• The vertical farming market is expected to witness significant growth in the future due to Increasing urbanization, growing demand for locally grown and fresh produce, and limited arable land.
• Additionally, the advancements in indoor farming technologies, rising awareness of environmental sustainability, and government support and incentives for urban agriculture are the prominent factors driving the growth of the vertical farming market.
• However, the high initial investment costs, energy-intensive nature of artificial lighting and climate control, and challenges in scaling up production to commercial levels are restraining the market growth.
• On the contrary, the technological innovations in automation and precision farming, expansion into emerging markets with rapid urbanization, and development of vertical farming systems for specialized crops are creating opportunities for market growth.

By Product, the Lighting Devices Segment held the Larger Market Share, and it would continue on this Path during the Forecast Period
The lighting devices segment dominated the market share and is expected to maintain its leading position throughout the forecast period owing to its crucial role in facilitating optimal plant growth and maximizing crop yields. Unlike traditional outdoor farming, Vertical farming operates in controlled indoor environments where natural sunlight may be limited or inconsistent. Thus, specialized lighting devices such as LEDs are essential to provide the precise spectrum and intensity of light needed for photosynthesis and plant development. These lighting systems can be tailored to mimic natural sunlight conditions, promoting faster growth rates, higher nutritional content, and improved overall plant health. Moreover, LEDs used in Vertical farming are energy-efficient and can be adjusted based on specific crop requirements, contributing to reduced operational costs and environmental sustainability. As urbanization increases and arable land becomes scarcer, the adoption of advanced lighting technologies in Vertical farming not only addresses these challenges but also supports the production of fresh, locally grown produce closer to urban centers, meeting the growing demand for sustainable food sources.

By Geography, Asia Pacific Dominates by Being the Largest Market for Vertical Farming
Asia Pacific leads as the primary market for vertical farming during the forecast period due to the rapid urbanization across countries like China, Japan, and Singapore. This has led to increasing pressure on available agricultural land, prompting the adoption of innovative farming methods that maximize space efficiency. Vertical farming offers a solution by allowing crops to be cultivated in controlled indoor environments, such as skyscrapers and warehouses, situated close to urban centers. This proximity reduces transportation costs and ensures a fresh supply of produce to densely populated cities. Moreover, governments in the region are promoting sustainable agriculture practices to enhance food security and reduce reliance on food imports. Technological advancements in indoor farming technologies, including hydroponics and aeroponics, further drive the market growth by enabling efficient resource use and higher crop yields. Additionally, rising consumer awareness of food safety and the preference for locally grown, pesticide-free produce are boosting the adoption of Vertical farming systems.

Key Target Audience:
• Urban Farmers
• Agricultural Technology Companies
• Investors and Venture Capitalists
• Food Retailers and Distributors

List of the Key Players Profiled in the Report Includes:
• AeroFarms
• AppHarvest
• EVERLIGHT ELECTRONICS CO. LTD.
• Heliospectra AB
• Hort Americas
• Kalera
• OSRAM GmbH.
• Plenty Unlimited Inc.
• Signify Holding
• Sky Greens
• SPREAD Co. Ltd.
• Valoya

Recent Developments:
• In May 2023, AeroFarms®, a Certified B Corporation and a global leader in indoor vertical farming, announced its national expansion through Amazon Fresh, both online and in all Amazon Fresh grocery store locations. Known for its innovative, high-tech, consumer-focused shopping experience, Amazon Fresh provides a new platform for AeroFarms to reach a broader audience. This partnership follows AeroFarms' successful national launch with Whole Foods Market in 2022, marking a significant industry milestone as the first indoor leafy greens grower included in Whole Foods Market Global Planogram. As a purpose-driven organization, AeroFarms is committed to transforming agriculture with its award-winning retail brand, prioritizing both people and the planet through smart, indoor vertical farming techniques.

Market Segmentation:
The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Crop Type:
• Fruits
• Vegetables

Market by, Mechanism:
• Aeroponics
• Aquaponics
• Hydroponics

Market by, Product:
• Climate Control Devices
• Hydroponic Components
• Lighting Devices
• Sensing Devices
• Irrigation and Fertigation System
• Other Products

Market by, Structure:
• Building-based Vertical Farm
• Shipping Container-based Vertical Farm

Market by, Offering:
• Hardware
• Software
• Services

Market by, Geography:
The vertical farming market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:
• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

Scope of the Report:
The report “Global Vertical Farming Market: Industry Analysis, Opportunities and Forecast up to 2030” by Diligence Insights provides a detailed analysis of the present market and future outlook with market estimates and forecasts for all specified segments, encompassing both global and regional perspectives as outlined within the research framework. The study includes historical market data for the years 2022, 2023 and offers revenue estimations for 2024, and project forecasts spanning from 2025 to 2030. It places significant emphasis on the examination of market trends, key industry participants, supply chain developments, technological advancements, pivotal milestones, and prospective strategies. Comprehensive market assessments are carried out across major geographic regions, including North America, Europe, Asia Pacific, South America, and Middle East & Africa. As such, this report constitutes a valuable resource for current industry stakeholders, newcomers to the field, and potential investors.

The study offers an in-depth market analysis, drawing insights from industry experts across the value chain. A special focus has been made on 25 countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, and South Africa, among others. The market data has been meticulously collected through extensive primary interviews and comprehensive secondary research. Market size determination is rooted in the revenue generated from sales across all the specified segments and sub-segments as defined within the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

The report offers insights into the following aspects:
• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.
• Analysis of the market structure by identifying various segments and sub-segments of the market.
• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.
• Understand major player profiles in the market and analyze their business strategies.
• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.

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Table of Contents

1 Market Introduction
1.1 Market Definition
1.2 Research Scope and Segmentation
1.3 Stakeholders
1.4 List of Abbreviations

2 Executive Summary

3 Research Methodology
3.1 Identification of Data
3.2 Data Analysis
3.3 Verification
3.4 Data Sources
3.5 Assumptions

4 Market Dynamics
4.1 Market Drivers
4.2 Market Restraints
4.3 Market Opportunities
4.4 Market Challenges

5 Porter's Five Force Analysis
5.1 Bargaining Power of Suppliers
5.2 Bargaining Power of Buyers
5.3 Threat of New Entrants
5.4 Threat of Substitutes
5.5 Competitive Rivalry in the Market

6 Global Vertical Farming Market by, Crop Type
6.1 Overview
6.2 Fruits
6.2.1 Strawberry
6.2.2 Tomato
6.2.3 Other Fruits
6.3 Vegetables
6.3.1 Lettuce
6.3.2 Pepper
6.3.3 Kale
6.3.4 Herbs
6.3.5 Broccoli
6.3.6 Cucumber
6.3.7 Spinach
6.3.8 Other Vegetables

7 Global Vertical Farming Market by, Mechanism
7.1 Overview
7.2 Aeroponics
7.3 Aquaponics
7.4 Hydroponics

8 Global Vertical Farming Market by, Product
8.1 Overview
8.2 Climate Control Devices
8.3 Hydroponic Components
8.4 Lighting Devices
8.5 Sensing Devices
8.6 Irrigation and Fertigation System
8.6.1 HVAC systems
8.6.2 Shelves
8.6.3 Racks
8.7 Other Products

9 Global Vertical Farming Market by, Structure
9.1 Overview
9.2 Building-based Vertical Farm
9.3 Shipping Container-based Vertical Farm

10 Global Vertical Farming Market by, Offering
10.1 Overview
10.2 Hardware
10.3 Software
10.4 Services

11 Global Vertical Farming Market by, Geography
11.1 Overview
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 France
11.3.3 UK
11.3.4 Italy
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.2 Japan
11.4.3 India
11.4.4 South Korea
11.4.5 Australia
11.4.6 New Zealand
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Brazil
11.5.2 Argentina
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 UAE
11.6.2 Saudi Arabia
11.6.3 Qatar
11.6.4 Iran
11.6.5 South Africa
11.6.6 Rest of Middle East & Africa

12 Key Developments

13 Company Profiling
13.1 AeroFarms
13.1.1 Business Overview
13.1.2 Product/Service Offering
13.1.3 Financial Overview
13.1.4 SWOT Analysis
13.1.5 Key Activities
13.2 AppHarvest
13.3 EVERLIGHT ELECTRONICS CO. LTD.
13.4 Heliospectra AB
13.5 Hort Americas
13.6 Kalera
13.7 OSRAM GmbH.
13.8 Plenty Unlimited Inc.
13.9 Signify Holding
13.10 Sky Greens
13.11 SPREAD Co. Ltd.
13.12 Valoya