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PUBLISHER: IMARC | PRODUCT CODE: 1291438
PUBLISHER: IMARC | PRODUCT CODE: 1291438
Vertical Farming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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PAGES: 139 Pages
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Market Overview:
The global vertical farming market size reached US$ 4.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.0 Billion by 2028, exhibiting a growth rate (CAGR) of 23% during 2023-2028.
Vertical farming refers to an innovative farming technique that involves growing food and medicinal plants in vertically stacked layers. It is adopted for producing crops with artificial control of light, temperature, humidity and gases. Vertical farming utilizes a combination of methods involving hydroponics, aeroponics and aquaponics to grow crops without soil using mineral nutrient solutions, such as peat moss and coconut husk, or aquatic animals, such as snail, fish and prawns. It is highly beneficial for crop cultivation on arid lands, mountains, unfertile lands, indoors and rooftops of the buildings. In comparison to the traditional farming practices, vertical farming is sustainable and has lower water and energy requirements.
Vertical Farming Market Trends:
A rapid increase in the global population, along with rising scarcity of arable land, is one of the key factors driving the growth of the market. Moreover, an escalating requirement for stabilized crop production to meet the rising food demands is providing a thrust to the market growth. In line with this, the legalization of cannabis cultivation for medical and recreational purposes is also contributing to the growth of the market. Various technological advancements in light-emitting diode (LED) technology and the integration of the Internet of Things (IoT)-enabled sensors and monitoring devices are acting as other growth-inducing factors. These novel LED top-lighting and inter-lighting solutions aid in reducing the farming costs and increasing the overall yield. Other factors, including the rising expenditure capacities of the consumers, along with the implementation of favorable government policies, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global vertical farming market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, structure, growth mechanism and application.
Breakup by Component:
- Irrigation Component
- Lighting
- Sensor
- Climate Control
- Building Material
- Glass Greenhouse
- Plastic Greenhouse
- Others
Breakup by Structure:
- Building-based Vertical Farms
- Container-based Vertical Farms
Breakup by Growth Mechanism:
- Hydroponics
- Aeroponics
- Aquaponics
Breakup by Application:
- Indoor
- Outdoor
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being AeroFarms, Agrilution Systems GmbH, AmHydro, Everlight Electronics Co. Ltd., Freight Farms Inc., Gronska Stadsodling, Heliospectra AB, Jones Food Company Limited, Koninklijke Philips N.V., OSRAM GmbH (ams-OSRAM AG), Signify N.V., Urban Crop Solutions and Vertical Farm Systems Pty Ltd.
Key Questions Answered in This Report:
- What was the size of the global vertical farming market in 2022?
- What is the expected growth rate of the global vertical farming market during 2023-2028?
- What has been the impact of COVID-19 on the global vertical farming market?
- What are the key factors driving the global vertical farming market?
- What is the breakup of the global vertical farming market based on the component?
- What is the breakup of the global vertical farming market based on the structure?
- What is the breakup of the global vertical farming market based on growth mechanism?
- What are the key regions in the global vertical farming market?
- Who are the key players/companies in the global vertical farming market?
Product Code: SR112023A5695
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Vertical Farming Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Component
- 6.1 Irrigation Component
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Lighting
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Sensors
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Climate Control
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Building Material
- 6.5.1 Market Trends
- 6.5.2 Key Segments
- 6.5.2.1 Glass Greenhouse
- 6.5.2.2 Plastic Greenhouse
- 6.5.3 Market Forecast
- 6.6 Others
- 6.6.1 Market Trends
- 6.6.2 Market Forecast
7 Market Breakup by Structure
- 7.1 Building-based Vertical Farms
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Container-based Vertical Farms
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Growth Mechanism
- 8.1 Hydroponics
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Aeroponics
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Aquaponics
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
9 Market Breakup by Application
- 9.1 Indoor
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Outdoor
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.1 United States
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.2.1 China
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.3.1 Germany
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.4.1 Brazil
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 AeroFarms
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.2 Agrilution Systems GmbH
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.3 AmHydro
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.4 Everlight Electronics Co. Ltd.
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.4.3 Financials
- 15.3.5 Freight Farms Inc.
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.6 Gronska Stadsodling
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.7 Heliospectra AB
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 Financials
- 15.3.8 Jones Food Company Limited
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.9 Koninklijke Philips N.V.
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.9.3 Financials
- 15.3.9.4 SWOT Analysis
- 15.3.10 OSRAM GmbH (ams-OSRAM AG)
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.10.3 Financials
- 15.3.11 Signify N.V.
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.11.3 Financials
- 15.3.12 Urban Crop Solutions
- 15.3.12.1 Company Overview
- 15.3.12.2 Product Portfolio
- 15.3.13 Vertical Farm Systems Pty Ltd
- 15.3.13.1 Company Overview
- 15.3.13.2 Product Portfolio
- 15.3.1 AeroFarms
Product Code: SR112023A5695
List of Figures
- Figure 1: Global: Vertical Farming Market: Major Drivers and Challenges
- Figure 2: Global: Vertical Farming Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Vertical Farming Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Vertical Farming Market: Breakup by Component (in %), 2022
- Figure 5: Global: Vertical Farming Market: Breakup by Structure (in %), 2022
- Figure 6: Global: Vertical Farming Market: Breakup by Growth Mechanism (in %), 2022
- Figure 7: Global: Vertical Farming Market: Breakup by Application (in %), 2022
- Figure 8: Global: Vertical Farming Market: Breakup by Region (in %), 2022
- Figure 9: Global: Vertical Farming (Irrigation Component) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 10: Global: Vertical Farming (Irrigation Component) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 11: Global: Vertical Farming (Lighting) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: Vertical Farming (Lighting) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: Vertical Farming (Sensors) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: Vertical Farming (Sensors) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: Vertical Farming (Climate Control) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: Vertical Farming (Climate Control) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: Vertical Farming (Building Material) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: Vertical Farming (Building Material) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: Vertical Farming (Other Components) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: Vertical Farming (Other Components) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: Global: Vertical Farming (Building-based Vertical Farms) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: Global: Vertical Farming (Building-based Vertical Farms) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: Global: Vertical Farming (Container-based Vertical Farms) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: Global: Vertical Farming (Container-based Vertical Farms) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Global: Vertical Farming (Hydroponics) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Global: Vertical Farming (Hydroponics) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: Global: Vertical Farming (Aeroponics) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: Global: Vertical Farming (Aeroponics) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: Global: Vertical Farming (Aquaponics) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: Global: Vertical Farming (Aquaponics) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: Global: Vertical Farming (Indoor) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: Global: Vertical Farming (Indoor) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: Global: Vertical Farming (Outdoor) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: Global: Vertical Farming (Outdoor) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 35: North America: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: North America: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: United States: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: United States: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: Canada: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: Canada: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: Asia-Pacific: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: Asia-Pacific: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: China: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: China: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: Japan: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: Japan: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 47: India: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 48: India: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 49: South Korea: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 50: South Korea: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 51: Australia: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 52: Australia: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 53: Indonesia: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 54: Indonesia: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 55: Others: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 56: Others: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 57: Europe: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 58: Europe: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 59: Germany: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 60: Germany: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 61: France: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 62: France: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 63: United Kingdom: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 64: United Kingdom: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 65: Italy: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 66: Italy: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 67: Spain: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 68: Spain: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 69: Russia: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 70: Russia: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 71: Others: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 72: Others: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 73: Latin America: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 74: Latin America: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Brazil: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 76: Brazil: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 77: Mexico: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 78: Mexico: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 79: Others: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 80: Others: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 81: Middle East and Africa: Vertical Farming Market: Sales Value (in Million US$), 2017 & 2022
- Figure 82: Middle East and Africa: Vertical Farming Market: Breakup by Country (in %), 2022
- Figure 83: Middle East and Africa: Vertical Farming Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 84: Global: Vertical Farming Industry: SWOT Analysis
- Figure 85: Global: Vertical Farming Industry: Value Chain Analysis
- Figure 86: Global: Vertical Farming Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Vertical Farming Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Vertical Farming Market Forecast: Breakup by Component (in Million US$), 2023-2028
- Table 3: Global: Vertical Farming Market Forecast: Breakup by Structure (in Million US$), 2023-2028
- Table 4: Global: Vertical Farming Market Forecast: Breakup by Growth Mechanism (in Million US$), 2023-2028
- Table 5: Global: Vertical Farming Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 6: Global: Vertical Farming Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 7: Global: Vertical Farming Market: Competitive Structure
- Table 8: Global: Vertical Farming Market: Key Players
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