With 27.3% CAGR, Vertical Farming Market Size to Surpass USD 27.42 Billion by 2030


According to Fortune Business Insights, the global vertical farming market size is projected to reach USD 27.42 billion in 2030, at a CAGR of 27.3% during the forecast period, 2023-2030.

Vertical Farming Market

Forecast, 2023-2030
Forecast, 2023-2030

Pune,India, Dec. 13, 2023 (GLOBE NEWSWIRE) — The global vertical farming market size was valued at USD 4.16 billion in 2022 and is expected to reach USD 27.42 billion by 2030, exhibiting a CAGR of 27.3% over the study period. Fortune Business Insights™ provides this information in its latest research report, titled “Vertical Farming Market Forecast, 2024-2030”.

Food security, low water usage, enhanced efficiency, and resistance to weather and environmental conservation are projected to upsurge the market growth globally. The growth of the urban population globally escalates the demand for food and vegetables.

Request a Free Sample PDF: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/vertical-farming-market-101958

Key Industry Development-

March 2023: UP Vertical Farms has developed an innovative solution to the obstacles handled by traditional farming methods. The company launched a high-density contactless vertical farm to be the most maintainable vertical farm by 2023. The solution improves quality control with minimal environmental impact, higher yield, and faster production.

Key Takeaways-

  • Vertical farming market size in North America was USD 1.62 Billion in 2022
  • Growing Demand and Need for Safe and Healthy Food to Drive Hydroponics Growth
  • Climate Control Components of LED Lightening Systems to Drive the Demand for Lightening Systems
  • The lighting systems segment is anticipated to hold maximum market share

Discover the Leading Players Featured in the Report-

“Companies leading the global vertical farming market are AeroFarms (U.S.), OSRAM Licht AG (Germany), Urban Crop Solutions (Europe), Heliospectra AB (Sweden), Everlight Electronics Co. Ltd. (Taiwan), Signify Holding (Netherlands), Sky Greens (Singapore), BrightFarms. (U.S.), Plenty Unlimited Inc. (U.S.), Freight Farms, Inc. (U.S.)”

Report Scope & Segmentation

Report Coverage Details
Forecast Period 2023 to 2030
Forecast Period 2023 to 2030 CAGR 27.3%
2030 Value Projection USD 27.42 Billion
Base Year 2022
Vertical Farming Market Size in 2022 USD 4.16 Billion
Historical Data for 2019 to 2021
No. of Pages 140
Segments covered Type, Structure, Component and Geography

Browse Complete Report Details- https://www.fortunebusinessinsights.com/industry-reports/vertical-farming-market-101958

Drivers & Restraints:

Rising Water Crisis and Decline of Arable Land to Propel Adoption of Vertical Farms

The rising obstacles of land availability for food production, as per the rising demand, propel the adoption of vertical farms globally. The agriculture and food industries are continuously concerned about the increasing demand for food due to the decline of land resources for agriculture worldwide. It is anticipated that climate change may worsen water scarcity and its effect on the food system. The obstacles faced owing to water scarcity; vertical farms offer solutions to the obstacles.

The expense of air cooling and heating to maintain the proper temperature, precision monitoring, and other relevant software is expected to hamper vertical farming market growth.


By Type

  • Hydroponics
  • Aeroponics
  • Aquaponics

By Structure

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

By Component

  • Lighting System
  • Irrigation and Fertigation System
  • Climate Control
  • Sensors
  • Others (HVAC Systems, Building materials, etc.)

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/vertical-farming-market-101958

Regional Insights

Growing Demand for the Fresh and Organic Food to Foster the Market Growth In North America

North America dominates the vertical farming market share due to various vertical farms throughout the U.S. and the adoption of various advanced automation technologies and robotics.

Europe is predicted to witness subsequent growth during the forecast period. European countries such as Germany, Spain, the U.K., France, Russia, Italy, Nordics, and Benelux are predicted to propel the progress of vertical farming.

The Asia Pacific is anticipated to show extraordinary growth during the forecast period. In countries such as India, China, and some Asian countries, the decline of arable land for agriculture is anticipated to drive market growth for this innovative farming system.

The Middle East and Africa show extraordinary market growth due to rising water scarcity and less arable land availability during the projected period.

South America is predicted to rise at a steady rate. There is a huge loss of fruits and vegetables produced using traditional Mexico during processing, storage, and transportation.

Quick Buy – Vertical Farming Market Research Report- https://www.fortunebusinessinsights.com/checkout-page/101958

Competitive Landscape-

Innovative Launch Operations by Key Players to Boost Market Growth

Players in the vertical farming market have launched new techniques in the market to boost the market growth with their solutions and to elevate the competition in the market. It includes launching new patterns, such as investments and new and advanced products. Companies have been applying new plans, such as partnerships and mergers, to support their position in the market.


How big is the vertical farming market?

Vertical farming market size was USD 4.16 billion in 2022. It is expected to reach USD 27.42 billion by 2030.

How fast is the vertical farming market growing?

The vertical farming market will exhibit a CAGR of 27.3% during the forecast period, 2023-2030.

Related Reports:

Artificial Intelligence Market Size, Share, Revenue Forecast and Opportunities

Machine Learning Market Overview, Industry Share and Forecast

Internet of Things Market Size, Share, Opportunities & Analysis

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: [email protected]


Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.