The Reports and Insights, a leading market research company, has recently releases report titled “Vertical Farming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2031.” The study provides a detailed analysis of the industry, including the global Vertical Farming Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Vertical Farming market?
The global vertical farming market size was US$ 5.2 Billion in 2022. Furthermore, the global market is expected to register a revenue CAGR of 23.1% during the forecast period and reach a market size of US$ 33.8 Bn in 2031.
What is Vertical Farming?
Vertical farming is an innovative agricultural method where crops are cultivated in vertically stacked layers or on inclined surfaces within controlled indoor environments. This approach employs advanced technologies like hydroponics, aeroponics, and LED lighting to enhance resource efficiency and create optimal growing conditions. By maximizing vertical space usage, vertical farming aims to achieve high yields in a condensed footprint, reducing the reliance on traditional arable land. This sustainable farming technique minimizes water usage, eliminates the need for pesticides, and addresses carbon emissions associated with transportation. With the potential to transform food production, particularly in urban settings, vertical farming offers a controlled and year-round environment for growing various crops, contributing to both food security and environmental sustainability.
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What are the growth prospects and trends in the Vertical Farming industry?
The vertical farming market growth is driven by several prominent trends and factors. The growth of the vertical farming market has been significant, propelled by factors like rising global food demand, urbanization, and an increasing focus on sustainable agriculture. This innovative farming method, involving vertically stacked layers or inclined surfaces within controlled indoor environments, provides a sustainable solution with year-round production, reduced reliance on traditional arable land, and decreased environmental impact. Technological advancements, including precision agriculture, hydroponics, and LED lighting, have improved the efficiency and productivity of vertical farming, making it an appealing option for addressing challenges related to food security. As more investors, entrepreneurs, and agricultural entities recognize the potential of vertical farming to transform food production, the market continues to expand, offering a scalable, resource-efficient, and locally integrated solution to meet the needs of a rapidly urbanizing world. Hence, these factors further contribute to the vertical farming market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
- Building-Based Structure
- Container-Based Structure
By Growth Mechanism
- Irrigation Component
- Climate Control
- Building Materials
- North America
- Latin America
- Middle East
Who are the key players operating in the industry?
The report covers the major market players including:
- Illumitex, Inc.
- American Hydroponics
- Agrilution GmbH
- Brightfarms Inc.
- Everlight Electronics Co., Ltd.
- Freight Farms
- GrowUp Urban Farms Ltd.
- Green Sense Farms, LLC
- Vertical Farm Systems
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