VERTICAL FARMING MARKET ANALYSIS

Vertical Farming Market, By Growth Mechanism (Aeroponics, Hydroponics, Aquaponics), By Structure (Building-based Vertical Farms, Shipping Container-based Vertical Farms), By component (Lighting, Climate Control, Sensors, Other Components), By Crop (Tomato, Berries, Lettuce and Leafy Vegetables, Pepper, Cucumber, Microgreens, Other Crop Types), and By Geography (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Jan 2023
Code : CMI5469
Pages :145
Formats :
Excel and PDF
Industry : Smart Technologies

Regional Analysis

Global Vertical Farming Market: Regional Insights

The global vertical farming market is expected to dominate by the Asia Pacific region. Growing urbanization is the major driver of the market. Several countries in the region have limited land resources and have witnessed an increasing need for localized food production. This, in turn, has led to the growth of the vertical farming industry in the region. Additionally, the need to produce more food on a smaller land space has encouraged entrepreneurs to invest in the industry. The China vertical farming market was valued at USD 328.8 million in 2020 and is anticipated to reach a value of USD 599.0 million by 2026, while registering a CAGR of 10.8%, during the forecast period.

North America is expected to witness fastest growth in the global market over the forecast owing to the growing trend of “fresh-from-farm-to-table”. Moreover, the growing demand for organic food, increased interest in the nutraceutical industry, and the growing demand for biopharmaceutical products in the U.S is again driving regional market growth. Furthermore, the country has also witnessed an influx of automation technologies in the agriculture sector. The vertical farming market in the United States was valued at USD 1,235.6 million in 2020, and it is estimated to reach USD 2,143.4 million by 2026, recording a CAGR of 9.8% for the forecast period, 20212026.

Geographies covered:

North America: U.S. and Canada
Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
Middle East: GCC Countries, Israel, and Rest of Middle East
Africa: South Africa, North Africa, and Central Africa