Bharat Book Bureau Provides the Trending Market Research Report on “Global Vertical Farming Market Outlook, 2027” under Food & Beverage Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.

Vertical farming is basically the process of producing food on vertically inclined surfaces. Instead of farming crops, vegetables, and other foods on a single level (on a flat field), this method allows food to grow in a vertical manner into stacked layers. These layers are commonly integrated into other structures, including skyscrapers, shipping containers, or repurposed warehouses. The vertical farming process uses technology from controlled environment agriculture (CEA) to enhance the overall outcome. That includes artificial control of temperature, light, humidity and gases across the vertical farming structure. Vertical farming offers an opportunity to change the way we grow crops and consume them. Also, this industry is expected to be the "future of agriculture" due to its high level of monitoring and increased efficiency. Vertical farming reduces the use of water and land while also reducing waste. Additionally, the crops are secured from pests and other impurities due to the CEA technology. Further, by 2050, the world’s population is projected to grow to 9.7 billion people. Every industry will face difficulties in feeding such a large population to industrial development and increasing urbanization, we are losing a precious amount of arable land with every passing day. In 2015, scientists found that Earth had lost a third of its arable land over the previous 40 years. Many researchers believe that vertical farming can be a viable option to overcome this threat. The primary goal of this industry is to maximize crop production with a limited amount of space.

According to the report titled "Global Vertical Farming Market Outlook, 2027", the vertical farming market is expected to grow at a 21.82% CAGR from 2022 to 2027.Market revenue growth is expected to be driven by various factors, including a rise in global demand for food, higher yields than traditional farming, and independence from climate impacts. Drastic climate change and erratic weather patterns have significantly impacted the agriculture industry across the globe in the last decade. This change is creating higher demand for alternative, sustainable farming practices such as vertical farming. The global vertical farming market is segmented into five major regions, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Among these regions, the Asia-Pacific region is estimated to acquire a larger portion of the market share during the forecast period. Asia-Pacific is one of the most lucrative markets for vertical farming compared to other regions. There has been a significant rise in new manufacturers and start-ups offering new innovative products across the region. In addition to that, higher adoption of advanced technologies such as artificial intelligence (AI), enhanced sensors, robotics, and smart monitoring is boosting the market growth.

According to the report, the USA dominated the global vertical farming market in the base year of 2021 and it is expected to continue that momentum during the forecast period. The USA is highly fragmented, with more than 2000 farms across the country. Also, the need for farming methods that can reduce the overall environmental impact across the USA is projected to fuel the market's growth. Further, based on the growth mechanism, the global vertical farming market is segmented into three types: hydroponics, aeroponics, and aquaponics. Among these types, hydroponics growth mechanisms are anticipated to acquire more than half of the market share in terms of value during the forecast period. The hydroponics segment is a predominant growth mechanism that involves growing plants in nutrient solutions (free of soil). As this segment uses 90% less water and land, it creates a higher demand for this type of vertical farming across the globe. On the other hand, the aeroponics growth mechanism is expected to be the fastest growing segment in the global market.

The National Aeronautics and Space Administration (NASA) is responsible for developing this innovative growth mechanism for vertical farming. Aquaponics as a growth mechanism is at an emerging phase in the global market and is used in smaller-scale vertical farming systems.
Further, the global market is segmented into two structure types, including building-based vertical farming and shipping container-based vertical farming. Among these types, the building-based segment is occupying the maximum market share, whereas the other one is growing at a rapid growth rate. Increasing desertification and changes in rainfall patterns have boosted the demand for container-based farming across the globe. The convenience of transportation has also impacted the demands. Based on the component type, the lighting segment is expected to lead the vertical farming market during the forecast period. A perfect combination of natural and artificial light is used to maintain the optimum lighting level across the room. Also, technologies such as rotating beds are utilized to enhance lighting efficiency in vertical farming. Other component types such as climate control (HVAC-Heating, Ventilation, and Air Conditioning), sensors irrigation, and fertigation systems are also taking active participation to enhance the overall outcome. Based on the crop type, tomatoes are projected to dominate the market with more than 20% market share during the forecast period, followed by leafy green vegetables. Other common crop types are bell and chili peppers, lettuce, herbs, strawberries, cucumbers, and other fruits.

COVID-19 Impact:
In 2020, most countries across the globe will have witnessed a significant rise in the number of COVID-19 infected patients. As a result, the respective government enacted containment measures to limit human movement, resulting in a lockdown situation. Social distancing norms and strengthened government regulations have impacted the market's growth heavily. Also, the lower production volumes have had severe impacts on the supply chain for vertical farming equipment. However, this industry is gaining more traction currently as vertical farms can control everything from seed to store. Throughout the pandemic, demand for organic foods has also increased across the globe, in turn, fueling the demand for vertical farming in the residential sector as well as the commercial sector.

Major Companies present in the market:
AeroFarms, Agrilution, American Hydroponics, Sky Greens, Freight Farms, GP Solutions, Inc., Farm.One, Inc., Pentair Aquatic Eco-systems Inc., Nelson and Pade, Inc., ECF Farmsystems GmbH, Signify Holding, Heliospectra AB, Lumigrow, Inc., OSRAM GmbH., Crop One Holdings, Plenty Unlimited Inc., Urban Crop Solutions, Brightfarms, Inc., Aponic Limited, AGM Service, ZipGrow Inc., Koninklijke Philips NV, Agrourbana

Considered in this report
• Geography: Global
• Historic Year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Global Vertical Farming Market with its value and forecast along with its segments
• Region & country wise vertical farming market analysis
• Application wise vertical farming distribution
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report
• North America (US, Canada, Mexico)
• Europe (Germany, UK, France, Italy, Spain, Netherlands)
• Asia-Pacific (China, Japan, Taiwan, Singapore, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)
Based on Growth Mechanism:
• Hydroponics
• Aeroponics
• Aquaponics

Based on structure type:
• Building based-vertical farming
• Shipping based-vertical farming

Based on hydroponics components:
• Lighting
• Climate Control (HVAC)
• Sensors
• Other Hydroponic Components (Irrigation & fertigation system)

Based on application type:
• Indoor-vertical farming
• Outdoor-vertical farming

Based on crop type:
• Tomatoes
• Bell & Chili peppers
• Lettuce
• Herbs
• Leafy Greens (excluding lettuce)
• Strawberry
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agricultural industry, food & beverage industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Browse our full report with Table of Content:

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