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Vertical Farming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global vertical farming market reached a value of US$ 3.66 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 13.98 Billion by 2027, exhibiting a CAGR of 23.40% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

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, along with forecasts at the global, regional and country level from 2022-2027. 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., Grönska 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Component, Structure, Growth Mechanism, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered AeroFarms, Agrilution Systems GmbH, AmHydro, Everlight Electronics Co. Ltd., Freight Farms Inc., Grönska 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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
    10.2    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
    10.3    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
    10.4    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
    10.5    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    Grönska 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

List of Figures

Figure 1: Global: Vertical Farming Market: Major Drivers and Challenges
Figure 2: Global: Vertical Farming Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Vertical Farming Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Vertical Farming Market: Breakup by Component (in %), 2021
Figure 5: Global: Vertical Farming Market: Breakup by Structure (in %), 2021
Figure 6: Global: Vertical Farming Market: Breakup by Growth Mechanism (in %), 2021
Figure 7: Global: Vertical Farming Market: Breakup by Application (in %), 2021
Figure 8: Global: Vertical Farming Market: Breakup by Region (in %), 2021
Figure 9: Global: Vertical Farming (Irrigation Component) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Vertical Farming (Irrigation Component) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Vertical Farming (Lighting) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Vertical Farming (Lighting) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Vertical Farming (Sensors) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Vertical Farming (Sensors) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Vertical Farming (Climate Control) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Vertical Farming (Climate Control) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Vertical Farming (Building Material) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Vertical Farming (Building Material) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Vertical Farming (Other Components) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Vertical Farming (Other Components) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Vertical Farming (Building-based Vertical Farms) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Vertical Farming (Building-based Vertical Farms) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Vertical Farming (Container-based Vertical Farms) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Vertical Farming (Container-based Vertical Farms) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Vertical Farming (Hydroponics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Vertical Farming (Hydroponics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Vertical Farming (Aeroponics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Vertical Farming (Aeroponics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Vertical Farming (Aquaponics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Vertical Farming (Aquaponics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Vertical Farming (Indoor) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Vertical Farming (Indoor) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Global: Vertical Farming (Outdoor) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Global: Vertical Farming (Outdoor) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: North America: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: North America: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: United States: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: United States: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Canada: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Canada: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Asia-Pacific: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Asia-Pacific: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: China: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: China: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Japan: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Japan: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: India: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: India: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: South Korea: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: South Korea: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Australia: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Australia: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Indonesia: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Indonesia: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Others: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Others: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Europe: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Europe: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Germany: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Germany: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: France: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: France: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: United Kingdom: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: United Kingdom: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Italy: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Italy: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Spain: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Spain: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Russia: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Russia: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Others: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Others: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Latin America: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Latin America: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Brazil: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Brazil: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Mexico: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Mexico: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 79: Others: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 80: Others: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: Middle East and Africa: Vertical Farming Market: Sales Value (in Million US$), 2016 & 2021
Figure 82: Middle East and Africa: Vertical Farming Market: Breakup by Country (in %), 2021
Figure 83: Middle East and Africa: Vertical Farming Market Forecast: Sales Value (in Million US$), 2022-2027
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, 2021 and 2027
Table 2: Global: Vertical Farming Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Vertical Farming Market Forecast: Breakup by Structure (in Million US$), 2022-2027
Table 4: Global: Vertical Farming Market Forecast: Breakup by Growth Mechanism (in Million US$), 2022-2027
Table 5: Global: Vertical Farming Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 6: Global: Vertical Farming Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Vertical Farming Market: Competitive Structure
Table 8: Global: Vertical Farming Market: Key Players


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Key Questions Answered in This Report

The global vertical farming market was valued at US$ 3.66 Billion in 2021.

We expect the global vertical farming market to exhibit a CAGR of 23.40% during 2022-2027.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt in various agricultural activities and non-availability of migrant labor, thereby negatively impacting the global market for vertical farming.

The rising adoption of vertical farming over traditional farming practices for crop cultivation on arid lands, mountains, unfertile lands, etc., as it is sustainable and has lower water and energy requirements, is primarily driving the global vertical farming market.

Based on the component, the global vertical farming market can be segmented into irrigation component, lighting, sensor, climate control, building material, others. Currently, lighting holds the majority of the total market share.

Based on the structure, the global vertical farming market has been divided into building-based vertical farms and container-based vertical farms, where container-based vertical farms currently exhibit a clear dominance in the market.

Based on the growth mechanism, the global vertical farming market can be categorized into hydroponics, aeroponics, and aquaponics. Among these, hydroponics account for the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global vertical farming market include AeroFarms, Agrilution Systems GmbH, AmHydro, Everlight Electronics Co. Ltd., Freight Farms Inc., Grönska 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.

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