Vertical Farming Market- Global Industry Size, Share, Trend Analysis and Forecast Report, 2018-2028, Segmented By Growth Mechanism (Hydroponics, Aeroponics, and Aquaponics), By Structure (Building-Based Vertical Farms and Shipping Container-Based Vertical Farms), By Crop (Tomato, Berries, Lettuce and Leafy Vegetables, Pepper, Cucumber, and Others), By Application (Indoor and Outdoor), By Offering (Hardware, Software, and Services), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)

  • Published Date: August 2022
  • Report ID: BWC22220
  • Available Format: PDF
  • Page: 186

Report Overview

Global Vertical Farming Market is gaining significant traction owing to the increasing population, urbanization, climate change, and scarcity of water supply that is leading to set the trend of vertical farming to increase crop production from the lesser land area.

Global Vertical Farming Market is gaining significant traction owing to the increasing population, urbanization, climate change, and scarcity of water supply and land leading to set the trend of vertical farming to increase crop production from the lesser land area.

Global Vertical Farming Market- Industry Trends & Forecast Report 2028

The Global Vertical Farming Market was worth USD 3.72 Billion in 2021 and is further projected to reach USD 13.2 Billion by the year 2028, growing at a CAGR of 19.5% during the forecast period (2022-2028). The market is growing at a high rate owing to the rising demand for organic food, higher productivity in smaller spaces, and ease of crop monitoring and harvesting. Also, vertical farming can produce crops throughout the year thereby providing constant income to the farmers. In addition, it reduces the usage of water, protects plants against weather conditions, and is very important in the future to use our land efficiently. All these factors boost the growth of the Global Vertical Farming Market during the forecast period (2022-2028).

Vertical Farming Market

Vertical Farming – Overview

Vertical Farming is the practice of growing crops in vertically stacked layers. It is associated with controlled-environment agriculture which improves plant growth. Vertical farming is a new technology incorporated to increase crop yield in a smaller unit area of land. It is a soilless growing technique such as hydroponics, aquaponics, and aeroponics. Also, it uses fluorescent grow lights and LED lights to help plants grow better in artificial lights. Moreover, vertical farming can be done indoors as well as outdoor including in buildings, shipping containers, and tunnels. Also, vertical farming is the best approach as it needs very less water than conventional farming and is not affected by drought or arid weather conditions. 

Global Vertical Farming Market Forecast and Trends

Growth Drivers

High-Yield associated with Vertical Farming over Conventional Farming

Vertical farming assures quite stable crop yields and reliable all year-round crop production. This is because vertical farming uses LED lights to grow plants faster in artificial light without sunlight. Also, there is continuously adjusting temperature, cooling, and humidity in vertical farming. This does not affect the crops by climate change, floods, and droughts like in conventional farming. Moreover, vertical farming does not need chemical fertilizers and pesticides, it is a completely organic way of growing plants. Since vertical farming does not require much space, soil, and water. It produces more crop yield by using 99% less land, 95% less water, and zero chemicals than conventional farming. So, it provides an ideal solution for farming when there is no large area available for agriculture. All these factors offer lucrative opportunities in Global Vertical Farming Market  during the forecast period.

Advancements in Light-Emitting Diode (LED) Technology

As we know photosynthesis is an important process of plant growth. Nowadays, there is advancement in farming by using artificial light for indoor plants. Farmers are using LED grow lights in vertical farming as a convenient form of artificial lighting. These LED grow lights are as effective as sunlight for growing seeds. It emits a plant-friendly spectrum of approximately 400-700 nanometers. This encourages plants to grow faster and produce higher yields. Also, the light-emitting diode (LED) does not need to burn anything to be able to produce light. So, it is a cost-saving and energy-efficient process. In addition, the LED grow lights are red and blue color light that is most effective for improve plant growth and flowering. All these benefits of LED light foster the growth of the Global Vertical Farming Market during the forecast period (2022-2028).

Restraints

Lack of Technically Skilled Workforce and Limited Crop Types

Vertical farming is the new technology in the agriculture sector. Since vertical farming processes are usually quite complex and involve various advanced techniques. This includes the use of smart sensors to monitor technical variables like temperature, oxygen, lighting, humidity, pH, pest control, irrigation, and harvesting. Industry experts and a skilled workforce are needed to set up a vertical gardening system in a proper manner. However, it might be difficult to find someone in the local area who has experience in this field. Thus, a lack of knowledge and hard-to-find qualified staff is restraining the growth of the Global Vertical Farming Market.

High Initial Investments

Since vertical farming needs some space, artificial lights, oxygen, carbon dioxide, and other variables. Thus, initial construction and installation costs can be huge. Also, vertical farming requires plenty of planning, so it is challenging for companies to decide whether it is suitable and affordable for them or not. Moreover, high labor costs, significant maintenance efforts, and technology issues may cause huge problems in vertical farming. All these challenging factors hinder the growth of the Global Vertical Farming Market.

Impact of COVID-19 on Global Vertical Farming Market

The sudden outbreak of coronavirus disease (COVID-19) that rapidly spread across the globe, which negatively affected the Food and Agriculture sector. The worldwide lockdown impacted the global economy, supply chains, health, and quality of life of people. Moreover, the economic crisis, government-imposed social distancing norms, and shortage of labor negatively impacted the agriculture sector. However, during the pandemic, people were more interested in urban farming like vertical gardens and indoor farming. Also, the COVID-19 pandemic increased the demand for healthy and organic food products which in turn accelerated the growth of the Global Vertical Farming. This trend in the market is likely to continue during the forecast period ( 2022-2028).

Global Vertical Farming Market - By Growth Mechanism

Based on the growth mechanism, the Global Vertical Farming Market is segmented into Hydroponics, Aeroponics, and Aquaponics. The hydroponics segment accounts for the largest market share followed by its remarkable growth owing to the rising demand for healthy and safe food. Less water usage and improving crop yield productivity is the main factor driving the demand for this type of farming technique. This factor is resulting in fueling the growth of the Global Vertical Farming Market during the forecast period (2022-2028).

Global Vertical Farming Market – By Structure

Based on the structure, the Global Vertical Farming Market is segmented into Building-Based Vertical Farms and Shipping Container-Based Vertical Farms. The building-based-vertical farms segment dominates the market as the new construction and building projects across the cities are used to deploy farms. Also, in various cities abandoned buildings are widely used to develop vertical farms. All these factors boost the growth of the Global Vertical Farming Market during the forecast period (2022-2028).

Global Vertical Farming – By Crop

Based on crop, the Global Vertical Farming Market is segmented into Tomato, Berries, Lettuce and Leafy Vegetables, Pepper, Cucumber, and Others. The lettuce, and leafy Vegetable segment dominates the market as lettuce and leafy vegetables are easy to grow and available in many varieties. Also, leafy vegetables are  all year-round in demand around the globe. This results in boosting the growth of the Global Vertical Farming Market during the forecast period (2022-2028).

Global Vertical Farming – By Application

Based on application, the Global Vertical Farming Market is segmented into indoor and outdoor. Indoor farming dominates the market owing to the increasing trend towards indoor vertical farming. Also, it protects the plants from adverse weather conditions, and the best way to produce crop yield all year-round. In addition, indoor vertical farming is fully organic and does not need chemicals pesticides/herbicides. Indoor food grown is safer and healthier thereby attracting many consumers. All these factors are resulting in driving the growth of the Global Vertical Farming Market during the forecast period (2022-2028).

Global Vertical Farming – By Offering

Based on offering, the Global Vertical Farming Market is segmented into Hardware, Software, and Services. The hardware segment is further classified into Irrigation Components, Lighting, Sensor, Climate Control, Building Materials, and Others (HVAC System, Shelves, Racks, etc.). The hardware segment dominates the market owing to the installation of necessary infrastructure for vertical farming to assist crop growth. Also, helps to control the conditions inside the farming system in an artificial manner. 

 Global Vertical Farming Market - Regional Insights

Geographically, the Global Vertical Farming Market is segmented into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA). The Asia-Pacific segment accounts to hold the largest share in the market owing to the rising population, and surging demand for organic food. Also, the rise in pollution, food scandals, and degradation of water and land is majorly propelling the growth of the Global Vertical Farming Market during the forecast period (2022-2028). Moreover, North America accounts for the second-largest share of the Global Vertical Farming Market revenue and is expected to grow rapidly during the forecast period. The market growth is attributed to factors such as the alarming rate of water level depletion, the presence of drought-stricken states, and an increase in environmental concerns.

Competitive Landscape

The leading market players in the Global Vertical Farming Market are Signify Holding, OSRAM GmbH, Freight Farms Inc., Aerofarms, Sky Greens, Plenty, Valoya, Everlight Electronics Co. Ltd., Heliospectra AB, Green Sense Farms, Agrilution, BrightFarms, Illumitex Inc., American Hydroponics, Koninklijke Philips N.V., Urban Crop Solutions, and other prominent players.

The Global Vertical Farming Market is fragmented with the presence of several global and regional industry participants. However, several startups are also emerging with significant growth potential owing to a flourishing market. The companies constantly launch new technologies to gain market traction and significantly invest in research and development activities to innovate their offerings. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.

Recent Developments

  • In April 2021, Swegreen launched the ‘NextGen’ of super-efficient in-store vertical farms in the Ica Maxi megastore in Linköping, Sweden. The new vertical farm will be Scandinavia’s largest in-store cultivation.

 

  • In January 2022, Plenty unlimited Inc. secured USD 400 million in a Series E funding round. The funding will support Plenty’s growth, including the proliferation of technology platforms to sell crop forms to partners directly.

Scope of the Report

Attributes Details
Years Considered Historical data – 2018-2020
Base Year – 2021
Forecast – 2022 – 2028
Facts Covered Revenue in USD Billion
Market Coverage North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA
Product Service/Segmentation By Growth Mechanism, By Structure, By Crop, By Application, By Offering, By Region
Key Players Signify Holding, OSRAM GmbH, Freight Farms Inc., Aerofarms, Sky Greens, Plenty, Valoya, Everlight Electronics Co. Ltd., Heliospectra AB, Green Sense Farms, Agrilution, BrightFarms, Illumitex Inc., American Hydroponics, Koninklijke Philips N.V., Urban Crop Solutions, and other prominent players.

 

By Growth Mechanism

    • Hydroponics
    • Aeroponics
    • Aquaponics

By Structure

    • Building-Based Vertical Farms
    • Shipping Container-Based Vertical Farms

By Crop

    • Tomato
    • Berries
    • Lettuce and Leafy Vegetables
    • Pepper
    • Cucumber
    • Others

By Application

    • Indoor
    • Outdoor

By Offering

    • Hardware
      • Irrigation Components
      • Lighting
      • Sensor
      • Climate Control
      • Building Materials
      • Others (HVAC System, Shelves, Racks etc.)
    • Software
    • Services

By Region

    • North America
    • Europe
    • Asia-Pacific
    • Latin America
    • Middle East and Africa
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation
  3. Executive Summary
  4. Global Vertical Farming Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. High-yield associated with vertical farming over conventional farming
        2. Advancements in light-emitting diode (LED) technology
      2. Restraints
        1. Lack of technically skilled workforce and limited crop types
        2. High initial investments
      3. Opportunities
        1. Reduced environmental impact from agriculture by adoption of vertical farming
        2. Cannabis cultivation through vertical farming
      4. Challenges
        1. Maintenance of temperature, humidity, and air circulation in a vertical farm
    3. Technological Landscape/Recent Development
    4. Patent Analysis
    5. Regulatory Framework
    6. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5. Global Vertical Farming Market Overview
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Growth Mechanism
        1. Hydroponics
        2. Aeroponics
        3. Aquaponics
      2. By Structure
        1. Building-Based Vertical Farms
        2. Shipping Container-Based Vertical Farms
      3. By Crop
        1. Tomato
        2. Berries
        3. Lettuce and Leafy Vegetables
        4. Pepper
        5. Cucumber
        6. Others
      4. By Application
        1. Indoor
        2. Outdoor
      5. By Offering
        1. Hardware
          1. Irrigation Components
          2. Lighting
          3. Sensor
          4. Climate Control
          5. Building Materials
          6. Others (HVAC System, Shelves, Racks etc.)
        2. Software
        3. Services
      6. By Region
        1. North America
        2. Europe
        3. The Asia-Pacific
        4. Latin America
        5. The Middle-East and Africa
  6. North America Vertical Farming Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Growth Mechanism
      2. By Structure
      3. By Crop
      4. By Application
      5. By Offering
      6. By Country
        1. United States
        2. Canada
  7. Europe Vertical Farming Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Growth Mechanism
      2. By Structure
      3. By Crop
      4. By Application
      5. By Offering
      6. By Country
        1. Germany
        2. United Kingdom
        3. Italy
        4. France
        5. Spain
        6. Rest of Europe
  8. The Asia Pacific Vertical Farming Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Growth Mechanism
      2. By Structure
      3. By Crop
      4. By Application
      5. By Offering
      6. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of Asia Pacific
  9. Latin America Vertical Farming Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Growth Mechanism
      2. By Structure
      3. By Crop
      4. By Application
      5. By Offering
      6. By Country
        1. Brazil
        2. Mexico
        3. Rest of Latin America
  10. The Middle East & Africa Vertical Farming Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Growth Mechanism
      2. By Structure
      3. By Crop
      4. By Application
      5. By Offering
      6. By Country
        1. Saudi Arabia
        2. UAE
        3. South Africa
        4. Rest of Middle East & Africa
  11. Competitive Landscape
    1. List of Key Players and their offerings
    2. Global Players Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Business Expansion, Agreement, Partnership and Product Launch)
  12. Impact of COVID-19 on Global Vertical Farming Industry
  13. Case Study
    1. Aerofarms – Taking Vertical Farming to New Heights by Using Advanced Technology
    2. Benefits Of IoT Deployment for Indoor Vertical Farms that Use Data-Driven Insights to Increase Yield, Conserve Resources, and Improve Quality of Produce
    3. Signify’s (Netherlands) Led Lighting Solution Used by RIAT for Growing Tomatoes and Cucumbers in a Vertical Farm
    4. Karma Farm Added Hydroponic Solution to Its Traditional Farm Solution to Achieve Sustainability
  14. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Signify Holding
    2. OSRAM GmbH
    3. Freight Farms Inc.
    4. Aerofarms
    5. Sky Greens
    6. Plenty
    7. Valoya
    8. Everlight Electronics Co. Ltd.
    9. Heliospectra AB
    10. Green Sense Farms
    11. Agrilution
    12. BrightFarms
    13. Illumitex Inc.
    14. American Hydroponics
    15. Koninklijke Philips N.V.
    16. Urban Crop Solutions
  15. Key Strategic Recommendations

 

Note:

  1. Financial Information of non-listed companies will be provided as per the availability.
  2. The segmentation and the companies are subjected to modification based on in-depth secondary study for the final deliverable.

 

List of Figures

 

Figure 1        Global Vertical Farming Segmentation

Figure 2        Global Vertical Farming Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Global Vertical Farming Market Size, By Value (USD Billion), 2018-2028

Figure 5        Global Vertical Farming Market Share, By Growth Mechanism, By Value, 2018-2028

Figure 6        Global Vertical Farming Market Share, By Structure, By Value, 2018-2028

Figure 7        Global Vertical Farming Market Share, By Crop, By Value, 2018-2028

Figure 8        Global Vertical Farming Market Share, By Application, By Value, 2018-2028

Figure 9        Global Vertical Farming Market Share, By Offering, By Value, 2018-2028

Figure 10       Global Vertical Farming Market Share, By Region, By Value, 2018-2028

Figure 11       North America Vertical Farming Market Size, By Value (USD Billion), 2018-2028

Figure 12       North America Vertical Farming Market Share, By Growth Mechanism, By Value, 2018-2028

Figure 13       North America Vertical Farming Market Share, By Structure, By Value, 2018-2028

Figure 14       North America Vertical Farming Market Share, By Crop, By Value, 2018-2028

Figure 15       North America Vertical Farming Market Share, By Application, By Value, 2018-2028

Figure 16       North America Vertical Farming Market Share, By Offering, By Value, 2018-2028

Figure 17       North America Vertical Farming Market Share, By Country, By Value, 2018-2028

Figure 18       Europe Vertical Farming Market Size, By Value (USD Billion), 2018-2028

Figure 19       Europe Vertical Farming Market Share, By Growth Mechanism, By Value, 2018-2028

Figure 20       Europe Vertical Farming Market Share, By Structure, By Value, 2018-2028

Figure 21       Europe Vertical Farming Market Share, By Crop, By Value, 2018-2028

Figure 22       Europe Vertical Farming Market Share, By Application, By Value, 2018-2028

Figure 23       Europe Vertical Farming Market Share, By Offering, By Value, 2018-2028

Figure 24       Europe Vertical Farming Market Share, By Country, By Value, 2018-2028

Figure 25       The Asia-Pacific Vertical Farming Market Size, By Value (USD Billion), 2018-2028

Figure 26       The Asia-Pacific Vertical Farming Market Share, By Growth Mechanism, By Value, 2018-2028

Figure 27       The Asia-Pacific Vertical Farming Market Share, By Structure, By Value, 2018-2028

Figure 28       The Asia-Pacific Vertical Farming Market Share, By Crop, By Value, 2018-2028

Figure 29       The Asia-Pacific Vertical Farming Market Share, By Application, By Value, 2018-2028

Figure 30       The Asia-Pacific Vertical Farming Market Share, By Offering, By Value, 2018-2028

Figure 31       The Asia-Pacific Vertical Farming Market Share, By Country, By Value, 2018-2028

Figure 32       Latin America Vertical Farming Market Size, By Value (USD Billion), 2018-2028

Figure 33       Latin America Vertical Farming Market Share, By Growth Mechanism, By Value, 2018-2028

Figure 34       Latin America Vertical Farming Market Share, By Structure, By Value, 2018-2028

Figure 35       Latin America Vertical Farming Market Share, By Crop, By Value, 2018-2028

Figure 36       Latin America Vertical Farming Market Share, By Application, By Value, 2018-2028

Figure 37       Latin America Vertical Farming Market Share, By Offering, By Value, 2018-2028

Figure 38       Latin America Vertical Farming Market Share, By Country, By Value, 2018-2028

Figure 39       The Middle East & Africa Vertical Farming Market Size, By Value (USD Billion), 2018-2028

Figure 40       The Middle East & Africa Vertical Farming Market Share, By Growth Mechanism, By Value, 2018-2028

Figure 41       The Middle East & Africa Vertical Farming Market Share, By Structure, By Value, 2018-2028

Figure 42       The Middle East & Africa Vertical Farming Market Share, By Crop, By Value, 2018-2028

Figure 43       The Middle East & Africa Vertical Farming Market Share, By Application, By Value, 2018-2028

Figure 44       The Middle East & Africa Vertical Farming Market Share, By Offering, By Value, 2018-2028

Figure 45       The Middle East & Africa Vertical Farming Market Share, By Country, By Value, 2018-2028

 

List of Tables

 

Table 1         Global Vertical Farming Market Size, By Growth Mechanism, By Value, 2018-2028

Table 2         Global Vertical Farming Market Size, By Structure, By Value, 2018-2028

Table 3         Global Vertical Farming Market Size, By Crop, By Value, 2018-2028

Table 4         Global Vertical Farming Market Size, By Application, By Value, 2018-2028

Table 5         Global Vertical Farming Market Size, By Offering, By Value, 2018-2028

Table 6         Global Vertical Farming Market Size, By Region, By Value, 2018-2028

Table 7         North America Vertical Farming Market Size, By Growth Mechanism, By Value, 2018-2028

Table 8         North America Vertical Farming Market Size, By Structure, By Value, 2018-2028

Table 9         North America Vertical Farming Market Size, By Crop, By Value, 2018-2028

Table 10        North America Vertical Farming Market Size, By Application, By Value, 2018-2028

Table 11        North America Vertical Farming Market Size, By Offering, By Value, 2018-2028

Table 12        North America Vertical Farming Market Size, By Country, By Value, 2018-2028

Table 13        Europe Vertical Farming Market Size, By Growth Mechanism, By Value, 2018-2028

Table 14        Europe Vertical Farming Market Size, By Structure, By Value, 2018-2028

Table 15        Europe Vertical Farming Market Size, By Crop, By Value, 2018-2028

Table 16        Europe Vertical Farming Market Size, By Application, By Value, 2018-2028

Table 17        Europe Vertical Farming Market Size, By Offering, By Value, 2018-2028

Table 18        Europe Vertical Farming Market Size, By Country, By Value, 2018-2028

Table 19        The Asia-Pacific Vertical Farming Market Size, By Growth Mechanism, By Value, 2018-2028

Table 20        The Asia-Pacific Vertical Farming Market Size, By Structure, By Value, 2018-2028

Table 21        The Asia-Pacific Vertical Farming Market Size, By Crop, By Value, 2018-2028

Table 22        The Asia-Pacific Vertical Farming Market Size, By Application, By Value, 2018-2028

Table 23        The Asia-Pacific Vertical Farming Market Size, By Offering, By Value, 2018-2028

Table 24        The Asia-Pacific Vertical Farming Market Size, By Country, By Value, 2018-2028

Table 25        Latin America Vertical Farming Market Size, By Growth Mechanism, By Value, 2018-2028

Table 26        Latin America Vertical Farming Market Size, By Structure, By Value, 2018-2028

Table 27        Latin America Vertical Farming Market Size, By Crop, By Value, 2018-2028

Table 28        Latin America Vertical Farming Market Size, By Application, By Value, 2018-2028

Table 29        Latin America Vertical Farming Market Size, By Offering, By Value, 2018-2028

Table 30        Latin America Vertical Farming Market Size, By Country, By Value, 2018-2028

Table 31        The Middle East & Africa Vertical Farming Market Size, By Growth Mechanism, By Value, 2018-2028

Table 32        The Middle East & Africa Vertical Farming Market Size, By Structure, By Value, 2018-2028

Table 33        The Middle East & Africa Vertical Farming Market Size, By Crop, By Value, 2018-2028

Table 34        The Middle East & Africa Vertical Farming Market Size, By Application, By Value, 2018-2028

Table 35        The Middle East & Africa Vertical Farming Market Size, By Offering, By Value, 2018-2028

Table 36        The Middle East & Africa Vertical Farming Market Size, By Country, By Value, 2018-2028

Table 37        Signify Holding Company Overview

Table 38        Signify Holding Financial Overview

Table 39        OSRAM GmbH Company Overview

Table 40        OSRAM GmbH Financial Overview

Table 41        Aerofarms Company Overview

Table 42        Aerofarms Financial Overview

Table 43        Sky Greens Company Overview

Table 44        Sky Greens Financial Overview

Table 45        Valoya Company Overview

Table 46        Valoya Financial Overview

Table 47        Heliospectra AB Company Overview

Table 48        Heliospectra AB Financial Overview

Table 49        Green Sense Farms Company Overview

Table 50        Green Sense Farms Financial Overview

Table 51        Agrilution Company Overview

Table 52        Agrilution Financial Overview

Table 53        BrightFarms Company Overview

Table 54        BrightFarms Financial Overview

Table 55        Illumitex Inc. Company Overview

Table 56        Illumitex Inc. Financial Overview

Table 57        American Hydroponics Company Overview

Table 58        American Hydroponics Financial Overview

Table 59        Koninklijke Philips N.V. Company Overview

Table 60        Koninklijke Philips N.V. Financial Overview

Table 61        Urban Crop Solutions Company Overview

Table 62        Urban Crop Solutions Financial Overview

 

Market Segmentation

By Growth Mechanism

    • Hydroponics
    • Aeroponics
    • Aquaponics

By Structure

    • Building-Based Vertical Farms
    • Shipping Container-Based Vertical Farms

By Crop

    • Tomato
    • Berries
    • Lettuce and Leafy Vegetables
    • Pepper
    • Cucumber
    • Others

By Application

    • Indoor
    • Outdoor

By Offering

    • Hardware
      • Irrigation Components
      • Lighting
      • Sensor
      • Climate Control
      • Building Materials
      • Others (HVAC System, Shelves, Racks etc.)
    • Software
    • Services

By Region

    • North America
    • Europe
    • The Asia-Pacific
    • Latin America
    • The Middle East and Africa
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Frequently Asked Questions (FAQs):

Ans: Asia-Pacific has the largest share in the Global Vertical Farming market.
Ans: The indoor segment accounted for the largest share of the Global Vertical Farming Market.
Ans: The Building-Based Vertical Farms segment accounted for the largest share of the Global Vertical Farming Market.
Ans: Global Vertical Farming market reached USD 3.72 Billion in 2022.
Ans: The major factors driving the growth of the Global Vertical Farming Market are; the increasing population, urbanization, climate change, and scarcity of water supply and land leading to set the trend of vertical farming to increase crop production from the lesser land area.
Ans: The key players in the Global Vertical Farming market are Signify Holding, OSRAM GmbH, Freight Farms Inc., Aerofarms, Sky Greens, Plenty, Valoya, Everlight Electronics Co. Ltd., Heliospectra AB, Green Sense Farms, Agrilution, BrightFarms, Illumitex Inc., American Hydroponics, Koninklijke Philips N.V., Urban Crop Solutions, and Other Prominent Players.