The Vertical Farming Market is projected to reach USD 40.46 billion by 2033, up from USD 5.05 billion in 2023, reflecting a robust compound annual growth rate (CAGR) of 24.61% over the period. This market encompasses the cultivation of crops in vertically stacked layers or structures, often within controlled indoor environments. Vertical farming employs advanced techniques such as hydroponics, aeroponics, and aquaponics, enabling the growth of a diverse array of produce without reliance on traditional soil-based methods. This innovative approach to agriculture is driving significant growth and expansion in the sector.
The latest research report by Evolve Business Intelligence explores the various factors influencing the global market. It includes an analysis of the current market size, forecasts for key segments and regions, and the driving forces behind market growth. The report examines the potential impacts of key trends on business strategies and provides a SWOT analysis of critical sectors for each major competitor and customer group. This valuable data highlights the conglomerates likely to impact the industry, crucial for any company planning to invest strategically over the next five years. These insights complement our initial quantitative study, aiding in new investments and strategic planning to mitigate threats in existing sectors.
Segments covered
By Growth Mechanism (Hydroponics, Aeroponics, and Aquaponics)
By Component Type (Lighting, Sensor, Climate Control, Building Material, Irrigation Component, Others)
By Type of Crop (Tomatoes, Broccoli, Lettuce, Strawberries, Spinach, and Others)
By Structure Type (Building Type Vertical Farms and Container Type Vertical Farms)
Key players
AeroFarms LLC
Sky Greens
Agrilution
American Hydroponics
Urban Crops
Vertical Farm Systems
Everlight Electronics Co. Ltd.
Hort Americas
4D Bios Inc.
Signify
- CHAPTER 1. Executive Summary
- CHAPTER 2. Scope of the Study
- 2.1. Market Definition
- 2.2. Market Scope & Segmentation
- 2.2.1. Objective of Report
- CHAPTER 3. Evolve BI Methodology
- 3.1. Data Collection & Validation Approach
- 3.2. Market Size Estimation and Forecast
- CHAPTER 4. Exclusive Analysis
- 4.1. Market Opportunity Score
- 4.1.1. Growth Mechanism Segement – Market Opportunity Score
- 4.1.2. Component Type Segment – Market Opportunity Score
- 4.1.3. Crop Type Segment – Market Opportunity Score
- 4.1.4. Structure Type Segment – Market Opportunity Score
- 4.2. Key Market Influencing Indicators
- CHAPTER 5. Market Insights and Trends
- 5.1. Value Chain Analysis
- 5.1.1. Raw Material
- 5.1.2. Manufacturing Process
- 5.1.3. Distribution Channel
- 5.1.4. End User
- 5.2. Porter’s Five Forces Analysis
- 5.2.1. Bargaining Power of Buyers
- 5.2.2. Bargaining Power of Suppliers
- 5.2.3. Threat of New Entrant
- 5.2.4. Threat of Substitute
- 5.2.5. Industry Rivalry
- 5.3. COVID-19 Impact and Post COVID Scenario on Global Vertical Farming Market
- 5.3.1. Impact of COVID-19
- 5.3.2. Government Support and Industry Revival Policies
- 5.3.3. Measures Taken by Companies to Mitigate Negative Impact
- 5.3.4. Post COVID Trend
- CHAPTER 6. MArket Dynamics
- 6.1. Introduction
- 6.2. Drivers
- 6.2.1. Driver 1
- 6.2.2. Driver 2
- 6.2.3. Driver 3
- 6.3. Restraints
- 6.3.1. Restraint 1
- 6.3.2. Restraint 2
- 6.4. Opportunity
- 6.4.1. Opportunity 1
- CHAPTER 7. Global Vertical Farming Market, By Growth Mechanism
- 7.1. Introduction
- 7.1.1. Hydroponics
- 7.1.2 Aeroponics
- 7.1.3. Aquaponics
- CHAPTER 8. Global Vertical Farming Market, By Component Type
- 8.1. Introduction
- 8.1.1. Lighting,
- 8.1.2. Sensor
- 8.1.3 Climate Control
- 8.1.4 Building Material
- 8.1.5 Irrigation Component
- 8.1.6 Others
- CHAPTER 9. Global Vertical Farming Market, By Crop Type
- 9.1. Introduction
- 9.1.1. Tomatoes
- 9.1.2. Broccoli
- 9.1.3. Lettuce
- 9.1.4 Strawberries
- 9.1.5 Spinach
- 9.1.6 Others
- CHAPTER 10. Global Vertical Farming Market, By Structure Type
- 10.1.Introduction
- 10.1.1. Building Type Vertical Farms
- 10.1.2. Container Type Vertical Farms
- CHAPTER 11. Global Vertical Farming Market, By Region
- 11.1. Introduction
- 11.2. NORTH AMERICA
- 11.2.1. North America: Market Size and Forecast, By Country, 2023 – 2033 ($ Million)
- 11.2.2. North America: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.2.3. North America: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.2.4. North America: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.2.5. North America: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.2.6. US
- 11.2.6.1. US: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.2.6.2. US: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.2.6.3. US: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.2.6.4. US: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.2.7. CANADA
- 11.2.7.1. Canada: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.2.7.2. Canada: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.2.7.3. Canada: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.2.7.4. Canada: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.2.8. MEXICO
- 11.2.8.1. Mexico: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.2.8.2. Mexico: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.2.8.3. Mexico: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.2.8.4. Mexico: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.3. Europe
- 11.3.1. Europe: Market Size and Forecast, By Country, 2023 – 2033 ($ Million)
- 11.3.2. Europe: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.3.3. Europe: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.3.4. Europe: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.3.5. Europe: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.3.6. U.K.
- 11.3.6.1. U.K.: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.3.6.2. U.K.: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.3.6.3. U.K.: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.3.6.4. U.K.: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.3.7. GERMANY
- 11.3.7.1. Germany: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.3.7.2. Germany: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.3.7.3. Germany: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.3.7.4. Germany: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.3.8. FRANCE
- 11.3.8.1. France: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.3.8.2. France: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.3.8.3. France: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.3.8.4. France: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.3.9. ITALY
- 11.3.9.1. Italy: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.3.9.2. Italy: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.3.9.3. Italy: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.3.9.4. Italy: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.3.10. SPAIN
- 11.3.10.1. Spain: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.3.10.2. Spain: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.3.10.3. Spain: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.3.10.4. Spain: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.3.11. BENELUX
- 11.3.11.1. BeNeLux: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.3.11.2. BeNeLux: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.3.11.3. BeNeLux: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.3.11.4. BeNeLux: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.3.12. RUSSIA
- 11.3.12.1. Russia: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.3.12.2. Russia: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.3.12.3. Russia: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.3.12.4. Russia: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.3.13. REST OF EUROPE
- 11.3.13.1. Rest of Europe: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.3.13.2. Rest of Europe: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.3.13.3. Rest of Europe: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.3.13.4. Rest of Europe: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.4. Asia Pacific
- 11.4.1. Asia Pacific: Market Size and Forecast, By Country, 2023 – 2033 ($ Million)
- 11.4.2. Asia Pacific: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.4.3. Asia Pacific: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.4.4. Asia Pacific: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.4.5. Asia Pacific: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.4.6. CHINA
- 11.4.6.1. China: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.4.6.2. China: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.4.6.3. China: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.4.6.4. China: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.4.7. JAPAN
- 11.4.7.1. Japan: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.4.7.2. Japan: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.4.7.3. Japan: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.4.7.4. Japan: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.4.8. INDIA
- 11.4.8.1. India: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.4.8.2. India: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.4.8.3. India: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.4.8.4. India: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.4.9. SOUTH KOREA
- 11.4.9.1. South Korea: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.4.9.2. South Korea: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.4.9.3. South Korea: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.4.9.4. South Korea: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.4.10. THAILAND
- 11.4.10.1. Thailand: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.4.10.2. Thailand: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.4.10.3. Thailand: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.4.10.4. Thailand: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.4.11. INDONESIA
- 11.4.11.1. Indonesia: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.4.11.2. Indonesia: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.4.11.3. Indonesia: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.4.11.4. Indonesia: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.4.12. MALAYSIA
- 11.4.12.1. Malaysia: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.4.12.2. Malaysia: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.4.12.3. Malaysia: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.4.12.4. Malaysia: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.4.13. AUSTRALIA
- 11.4.13.1. Australia: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.4.13.2. Australia: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.4.13.3. Australia: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.4.13.4. Australia: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.4.14. REST FO ASIA PACIFIC
- 11.4.14.1. Rest fo Asia Pacific: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.4.14.2. Rest fo Asia Pacific: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.4.14.3. Rest fo Asia Pacific: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.4.14.4. Rest fo Asia Pacific: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.5. South America
- 11.5.1. South America: Market Size and Forecast, By Country, 2023 – 2033 ($ Million)
- 11.5.2. South America: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.5.3. South America: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.5.4. South America: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.5.5. South America: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.5.6. BRAZIL
- 11.5.6.1. Brazil: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.5.6.2. Brazil: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.5.6.3. Brazil: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.5.6.4. Brazil: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.5.7. ARGENTINA
- 11.5.7.1. Argentina: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.5.7.2. Argentina: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.5.7.3. Argentina: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.5.7.4. Argentina: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.5.8. REST OF SOUTH AMERICA
- 11.5.8.1. Rest of South America: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.5.8.2. Rest of South America: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.5.8.3. Rest of South America: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.5.8.4. Rest of South America: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.6. Middle East & Africa
- 11.6.1. Middle East & Africa: Market Size and Forecast, By Country, 2023 – 2033 ($ Million)
- 11.6.2. Middle East & Africa: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.6.3. Middle East & Africa: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.6.4. Middle East & Africa: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.6.5. Middle East & Africa: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.6.6. SAUDI ARABIA
- 11.6.6.1. Saudi Arabia: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.6.6.2. Saudi Arabia: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.6.6.3. Saudi Arabia: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.6.6.4. Saudi Arabia: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.6.7. UAE
- 11.6.7.1. UAE: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.6.7.2. UAE: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.6.7.3. UAE: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.6.7.4. UAE: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.6.8. EGYPT
- 11.6.8.1. Egypt: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.6.8.2. Egypt: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.6.8.3. Egypt: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.6.8.4. Egypt: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.6.9. SOUTH AFRICA
- 11.6.9.1. South Africa: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.6.9.2. South Africa: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.6.9.3. South Africa: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.6.9.4. South Africa: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- 11.6.10. REST OF MIDDLE EAST & AFRICA
- 11.6.10.1. Rest of Middle East & Africa: Market Size and Forecast, By Growth Mechanism, 2023 – 2033 ($ Million)
- 11.6.10.2. Rest of Middle East & Africa: Market Size and Forecast, By Component Type, 2023 – 2033 ($ Million)
- 11.6.10.3. Rest of Middle East & Africa: Market Size and Forecast, By Crop Type, 2023 – 2033 ($ Million)
- 11.6.10.4. Rest of Middle East & Africa: Market Size and Forecast, By Structure Type, 2023 – 2033 ($ Million)
- CHAPTER 12. Competitive Landscape
- 12.1. Competitior Benchmarking 2023
- 12.2. Market Share Analysis
- 12.3. Key Developments Analysis By Top 5 Companies
- 12.4. Market Share Acquisition Strategies: Analysis of Key Approaches Employed by Top Players
- CHAPTER 13. Company Profiles
- 13.1. AeroFarms LLC
- 13.1.1. Business Overview
- 13.1.2. Financial Analysis
- 13.1.2.1. Business Segment Revenue, 2018, 2019, 2020, $ Million
- 13.1.2.2. Geographic Revenue Mix, 2020 (% Share)
- 13.1.3. Product Portfolio
- 13.1.4. Recent Development and Strategies Adopted
- 13.1.5. SWOT Analysis
- 13.2. Sky Greens
- 13.3. Agrilution
- 13.4. American Hydroponics
- 13.5. Urban Crops
- 13.6. Vertical Farm Systems
- 13.7. Everlight Electronics Co. Ltd.
- 13.8. Hort Americas
- 13.9. 4D Bios Inc.
- 13.10. Signify
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