Vertical Farming System Market was valued at USD 5.36 Billion in 2022 and is projected to reach USD 24.28 Billion by 2030, growing at a CAGR of 20.2% from 2024 to 2030.
The global vertical farming system market was valued at approximately $5.4 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of around 23.1% from 2023 to 2030. This rapid growth is driven by increasing demand for sustainable agricultural practices, urbanization, and advancements in technology. As cities continue to expand and arable land diminishes, vertical farming presents a viable solution for local food production with minimal environmental impact. The market is expected to reach around $22.2 billion by the end of the forecast period, highlighting the significant investment and interest in this innovative farming technique.
Opportunity analysis reveals substantial potential in emerging markets, where rapid urbanization and technological adoption are creating favorable conditions for vertical farming. Regions such as Southeast Asia, the Middle East, and Africa are experiencing significant growth in their vertical farming sectors due to increasing urban populations and investments in agricultural technology. These areas present lucrative opportunities for market expansion, driven by the need for efficient food production systems to support growing urban centers. The rise of smart farming technologies and government support for sustainable agriculture further enhances the prospects for vertical farming systems in these emerging markets.
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AeroFarms
Gotham Greens
Plenty (Bright Farms)
Lufa Farms
Beijing IEDA Protected Horticulture
Green Sense Farms
Garden Fresh Farms
Mirai
Sky Vegetables
TruLeaf
Urban Crops
Sky Greens
GreenLand
Scatil
Jingpeng
Metropolis Farms
Plantagon
Spread
Sanan Sino Science
Nongzhong Wulian
Vertical Harvest
Infinite Harvest
Metro Farms
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Vertical Farming System Market
Vegetable Cultivation
Fruit Planting
Other
Based on Types the Market is categorized into Below types that held the largest Vertical Farming System market share In 2023.
Hydroponics
Aeroponics
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Vertical Farming System Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Vertical Farming System Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Vertical Farming System Market, By Type
6. Global Vertical Farming System Market, By Application
7. Global Vertical Farming System Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Vertical Farming System Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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