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PUBLISHER: Grand View Research | PRODUCT CODE: 1405070
PUBLISHER: Grand View Research | PRODUCT CODE: 1405070
Cannabis Vertical Farming Market Size, Share & Trends Analysis Report By Structure, By Component (Hardware, Software, Services), By Growing Mechanism (Aeroponics, Hydroponics, Aquaponics), By Application, By Region, And Segment Forecasts, 2023 - 2030
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Cannabis Vertical Farming Market Growth & Trends:
The global cannabis vertical farming market size is anticipated to reach USD 1,377.2 million by 2030, growing at a CAGR of 18.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. The substantial growth is fueled considerably by legislative changes across the globe. Legalization of cannabis for medical and recreational use in various regions has created new markets and attracted investment prospects. For instance, in 2018, Canada legalized recreational cannabis, creating a thriving legal market that fostered development of sophisticated cultivation methods, including vertical farming.
Additionally, in 2020, Mexico passed legislation to legalize recreational cannabis, opening up a substantial market for cultivation and sales. Such changes have driven investments and market expansion. Vertical farming techniques provide precise control over environmental conditions, ensuring consistent product quality. For instance, Canopy Growth utilizes vertical farming to maintain strict standards for its cannabis strains, offering consumers reliable and high-quality products.
Vertical farming's resource-efficient nature is another driving factor for cannabis cultivation. Vertical farms use hydroponic or aeroponic systems, significantly reducing water usage compared to traditional soil-based cultivation. It significantly reduces water consumption, which is vital in regions with water scarcity. Urban-Gro, a company specializing in controlled environment agriculture services, collaborates with urban cannabis cultivators to establish water-efficient vertical farming systems, particularly in water-sensitive urban areas like Denver.
Integration of advanced technologies like automation and artificial intelligence (AI) enhances crop yields and efficiency in vertical farming. Furthermore, MedMen, a cannabis retailer, employs automation in its facilities to optimize production processes. Additionally, sustainability practices have gained importance, aligning with consumers' demand for organic and eco-friendly cannabis products. Companies like Green Relief focus on sustainable vertical farming methods to reduce waste and energy consumption, catering to eco-conscious consumers.
Increasing production of biopharmaceutical products necessitates reliable and consistent sources of pharmaceutical-grade cannabis, which vertical farming provides through precise control over cultivation conditions. Vertical farming ensures a steady supply of high-quality cannabis, meeting stringent requirements of the biopharmaceutical industry for therapeutic compounds such as cannabidiol (CBD) and delta-9-tetrahydrocannabinol (THC). Strategic placement of vertical farms near urban centers reduces transportation costs, resulting in fresher and more affordable cannabis products. PharmHouse, a recreational and medical marijuana dispensary located in Michigan, has positioned its vertical farms to serve local markets efficiently, reducing transportation expenses and minimizing the environmental impact of long-distance shipping.
Cannabis Vertical Farming Market Report Highlights:
- Rising demand for biopharmaceutical products necessitates dependable sources of pharmaceutical-grade cannabis, which vertical farming delivers with precise control. This is expected to bode well for this market's growth
- Based on structure, shipping container segment accounted for the largest revenue share in 2022, owing to this structure's water-efficient design, stack-ability, cost-effectiveness, and abundant supply of unused shipping containers to drive growth of container-based farming
- Based on farming component, hardware segment accounted for the largest revenue share in 2022, emphasizing its crucial role in regulating and maintaining optimal growing conditions within vertical farms. These hardware components are vital for ensuring the controlled environment necessary for successful cannabis cultivation, highlighting their fundamental role in the market
- Based on growing mechanism, hydroponics segment held the largest market share in 2022 due to cost-effectiveness, disease prevention, precise nutrient control, and substantial water efficiency, making hydroponics a favored cultivation method for cannabis
- Based on application, medical cannabis segment is also expected to register the fastest CAGR from 2023 to 2030. Rapid growth of medical cannabis vertical farming is driven by its suitability for cultivating high-quality medical-grade cannabis through precise environmental control, consistent quality, year-round production, enhanced security, reduced disease and pest risks, efficient space utilization, and optimized resource use, meeting the stringent requirements for medical cannabis cultivation
- North America is expected to witness significant growth over the forecast period, driven by increasing legalization movement and regulatory changes, such as potential reclassification of marijuana under the Controlled Substances Act, fostering innovation and investment in vertical farming within the cannabis industry
Product Code: GVR-4-68040-158-0
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.4. Research Assumptions
- 1.5. List of Data Sources
- 1.5.1. Secondary Sources
- 1.5.2. Primary Sources
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segmental Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope Outlook
- 3.1. Market Lineage Outlook
- 3.2. Cannabis Vertical Farming Market Value Chain Analysis
- 3.3. Cannabis Vertical Farming Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.2. Market Restraint/Challenge Analysis
- 3.3.3. Market Opportunity Analysis
- 3.4. Industry Analysis - Porter's Five Forces Analysis
- 3.4.1. Supplier Power
- 3.4.2. Buyer Power
- 3.4.3. Substitution Threat
- 3.4.4. Threat of New Entrants
- 3.4.5. Competitive Rivalry
- 3.5. Cannabis Vertical Farming Market PESTEL Analysis
- 3.5.1. Political Landscape
- 3.5.2. Economic Landscape
- 3.5.3. Social Landscape
- 3.5.4. Technology Landscape
- 3.5.5. Environmental Landscape
- 3.5.6. Legal Landscape
- 3.6. Impact of COVID-19 on the Cannabis Vertical Farming Market
Chapter 4. Cannabis Vertical Farming Market Structure Outlook
- 4.1. Cannabis Vertical Farming Market, By Structure Analysis & Market Share, 2022 & 2030
- 4.2. Shipping Container
- 4.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 4.3. Building-based
- 4.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 5. Cannabis Vertical Farming Market Component Outlook
- 5.1. Cannabis Vertical Farming Market, By Component Analysis & Market Share, 2022 & 2030
- 5.2. Hardware
- 5.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.2.2. Lighting market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.2.3. Hydroponic components market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.2.4. Climate control market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.2.5. Sensors estimates and forecasts, 2017 - 2030 (USD Million)
- 5.3. Software
- 5.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.4. Services
- 5.4.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.4.2. System integration & consulting market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.4.3. Managed Services market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.4.4. Assisted professional services market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 6. Cannabis Vertical Farming Market Growing Mechanism Outlook
- 6.1. Cannabis Vertical Farming Market, By Growing Mechanism Analysis & Market Share, 2022 & 2030
- 6.2. Aeroponics
- 6.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 6.3. Hydroponics
- 6.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 6.4. Aquaponics
- 6.4.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 7. Cannabis Vertical Farming Market Application Outlook
- 7.1. Cannabis Vertical Farming Market, By Application Analysis & Market Share, 2022 & 2030
- 7.2. Medical Cannabis
- 7.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 7.3. Recreational Cannabis
- 7.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 7.4. Research and Development
- 7.4.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 7.5. Others
- 7.5.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 8. Cannabis Vertical Farming Market: Regional Estimates & Trend Analysis
- 8.1. Cannabis Vertical Farming Market Share by Region, 2022 & 2030
- 8.2. North America
- 8.2.1. Market estimates and forecasts, 2017 - 2030
- 8.2.2. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.2.3. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.2.4. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.2.5. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.2.6. U.S.
- 8.2.6.1. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.2.6.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.2.6.3. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.2.6.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.2.7. Canada
- 8.2.7.1. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.2.7.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.2.7.3. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.2.7.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.3. Europe
- 8.3.1. Market estimates and forecasts, 2017 - 2030
- 8.3.2. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.3.3. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.3.4. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.3.5. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.3.6. Malta
- 8.3.6.1. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.3.6.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.3.6.3. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.3.6.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.3.7. Italy
- 8.3.7.1. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.3.7.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.3.7.3. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.3.7.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.3.8. Spain
- 8.3.8.1. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.3.8.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.3.8.3. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.3.8.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.4. Asia Pacific
- 8.4.1. Market estimates and forecasts, 2017 - 2030
- 8.4.2. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.4.3. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.4.4. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.4.5. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.4.6. Thailand
- 8.4.6.1. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.4.6.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.4.6.3. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.4.6.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.4.7. New Zealand
- 8.4.7.1. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.4.7.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.4.7.3. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.4.7.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.4.8. South Korea
- 8.4.8.1. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.4.8.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.4.8.3. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.4.8.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.4.9. Singapore
- 8.4.9.1. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.4.9.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.4.9.3. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.4.9.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.4.10. Australia
- 8.4.10.1. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.4.10.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.4.10.3. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.4.10.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.5. Latin America
- 8.5.1. Market estimates and forecasts, 2017 - 2030
- 8.5.2. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.5.3. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.5.4. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.5.5. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.5.6. Mexico
- 8.5.6.1. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.5.6.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.5.6.3. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.5.6.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.5.7. Uruguay
- 8.5.7.1. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.5.7.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.5.7.3. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.5.7.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.6. Middle East & Africa
- 8.6.1. Market estimates and forecasts, 2017 - 2030
- 8.6.2. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.6.3. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.6.4. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.6.5. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.6.6. South Africa
- 8.6.6.1. Market estimates and forecasts, By Structure, 2017 - 2030 (USD Million)
- 8.6.6.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.6.6.3. Market estimates and forecasts, By Growing Mechanism, 2017 - 2030 (USD Million)
- 8.6.6.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
Chapter 9. Cannabis Vertical Farming Market Competitive Landscape
- 9.1. Key Market Participants
- 9.1.1. Village Farms International, Inc.
- 9.1.2. Growers Supply Co. BC
- 9.1.3. Green Living Technologies
- 9.1.4. Bosmann Val Zaal
- 9.1.5. Agrify Corporation
- 9.1.6. STX Inc.
- 9.1.7. Urban Crop Solutions
- 9.1.8. Fluence
- 9.1.9. AEssense Corporation.
- 9.1.10. Heliospectra
- 9.1.11. BIOFLORAL INC.
- 9.1.12. Agriair LLC
- 9.1.13. Cropking Incorporated
- 9.2. Key Company Market Share Analysis, 2022
- 9.3. Company Categorization/Position Analysis, 2022
- 9.4. Strategic Mapping
- 9.4.1. Expansions
- 9.4.2. Mergers & Acquisition
- 9.4.3. Partnerships & Collaborations
- 9.4.4. Product/service launch
- 9.4.5. Others
Product Code: GVR-4-68040-158-0
List of Tables
- Table 1 Global Cannabis Vertical Farming market revenue estimates and forecast, By Structure, 2017 - 2030 (USD Million)
- Table 2 Global Cannabis Vertical Farming market revenue estimates and forecast, By Component, 2017 - 2030 (USD Million)
- Table 3 Global Cannabis Vertical Farming market revenue estimates and forecast, By Hardware, 2017 - 2030 (USD Million)
- Table 4 Global Cannabis Vertical Farming market revenue estimates and forecast, By Services, 2017 - 2030 (USD Million)
- Table 5 Global Cannabis Vertical Farming market revenue estimates and forecast, by Growing Mechanism, 2017 - 2030 (USD Million)
- Table 6 Global Cannabis Vertical Farming market revenue estimates and forecast, by Application, 2017 - 2030 (USD Million)
- Table 7 Global Cannabis Vertical Farming market revenue estimates and forecast, by region, 2017 - 2030 (USD Million)
- Table 8 Participant's Overview
- Table 9 Financial Performance
- Table 10 Product Benchmarking
- Table 11 Key companies undergoing expansion
- Table 12 Key companies involved in mergers & acquisitions
- Table 13 Key companies undertaking partnerships and collaboration
- Table 14 Key companies launching new product/service launches
List of Figures
- Fig. 1 Cannabis Vertical Farming market segmentation
- Fig. 2 Information procurement
- Fig. 3 Data analysis models
- Fig. 4 Market formulation and validation
- Fig. 5 Data validating & publishing
- Fig. 6 Market snapshot
- Fig. 7 Segment snapshot, By Structure and Component
- Fig. 8 Segment snapshot by Growing Mechanism and Application
- Fig. 9 Competitive landscape snapshot
- Fig. 10 Cannabis Vertical Farming market value, 2017 - 2030 (USD Million)
- Fig. 11 Cannabis Vertical Farming market - Industry value chain analysis
- Fig. 12 Cannabis Vertical Farming market - Market trends
- Fig. 13 Cannabis Vertical Farming market: Porter's analysis
- Fig. 14 Cannabis Vertical Farming market: PESTEL analysis
- Fig. 15 Cannabis Vertical Farming market, By Structure: Key takeaways
- Fig. 16 Cannabis Vertical Farming market, By Structure: Market share, 2022 & 2030
- Fig. 17 Shipping Container Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 18 Building-based Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 19 Cannabis Vertical Farming market, By Component: Key takeaways
- Fig. 20 Cannabis Vertical Farming market, By Component: Market share, 2022 & 2030
- Fig. 21 Hardware Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 22 Software Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 23 Service Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 24 Cannabis Vertical Farming market, by Growing Mechanism: Key takeaways
- Fig. 25 Cannabis Vertical Farming market, by Growing Mechanism: Market share, 2022 & 2030
- Fig. 26 Aeroponics Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 27 Hydroponics Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 28 Aquaponics Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 29 Cannabis Vertical Farming market, by Application: Key takeaways
- Fig. 30 Cannabis Vertical Farming market, by Application: Market share, 2022 & 2030
- Fig. 31 Medical Cannabis - Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 32 Recreational Cannabis - Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 33 Research & Development - Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 34 Others Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 35 Global Cannabis Vertical Farming market revenue, by region, 2022 & 2030, (USD Million)
- Fig. 36 North America Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 37 U.S. Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 38 Canada Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 39 Europe Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 40 Malta Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 41 Italy Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 42 Spain Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 43 Asia Pacific Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 44 Thailand Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 45 New Zealand Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 46 South Korea Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 47 Singapore Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 48 Australia Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 49 Latin America Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 50 Mexico Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 51 Uruguay Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 52 Middle East & Africa Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 53 South Africa Cannabis Vertical Farming market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 54 Key company categorization
- Fig. 55 Cannabis Vertical Farming market - Key company market share analysis, 2022
- Fig. 56 Strategic framework
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