Vertical Farming Market Revenue to Cross USD 30,911.23 Million by 2032; Registering at a CAGR of 18.6%

The vertical farming market size is projected to be valued at USD 6746.06 million in 2023 and is expected to rise to USD 30,911.23 million by 2032. The market is expected to register a CAGR of 18.6% during the forecast period from 2024 to 2032. Various factors propelling the demand for vertical farming include:

● Arable land is suitable for growing crops, and it is estimated that approximately one-third of the world's arable land has been lost to erosion, desertification, and urbanization.
● Increasing demand for fresh and locally grown produce, advancements in technology and automation, and the growing awareness of the benefits of sustainable agriculture are boosting the market in the forecast period.
● Consumers are increasingly interested in where their food comes from, how it is grown, and the environmental impact of food production.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞: https://www.polarismarketresearch.com/industry-analysis/vertical-farming-market/request-for-sample

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥 𝐅𝐚𝐫𝐦𝐢𝐧𝐠?

Vertical farming is a contrast to farming on a single surface, such as a field or greenhouse, vertical farming involves growing crops in layers that are stacked vertically. Cultivators typically incorporate these into vertical buildings like skyscrapers, shipping barrels, abandoned mining shafts, and old warehouses. This farming technique monitors the necessary levels of humidity, temperature, gasses, and light indoors using Controlled Environment Agriculture (CEA) technology.

𝐓𝐨𝐩 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬:

Because there are so many companies in the industry, it is expected to be both competitive and fragmented. Some of the leading companies in the vertical farming market are:

• Aerofarms
• Infarms
• SweGreen
• sky Greens Pte Ltd.
• Jones Food Company
• Signify
• Sky Greens
• Freight Farms
• Valoya
• Osram
• Heliospectra AB
• Osram
• Urban Crop Solutions
• Plenty Unlimited Inc

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬: https://www.polarismarketresearch.com/buy/8/2

𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

• The Hydroponics segment is accounted to dominate the market in 2022. The growth of the segment can be attributed to its several benefits compared to traditional farming methods, including efficient use of resources, higher crop yields, faster growth, year-round production, reduced pesticide use, and locally grown produce.
• Building-based Vertical Farms segment was leading the market in 2022. The growth of building-based vertical farms in the vertical farming market is attributed to their effective space optimization, reduced transportation costs, better-controlled environment, higher crop yields, and using less water and fertilizers compared to traditional farming methods
• The Climate Control segment is projected to witness the quickest growth rate in the forecast period. Supporting factors of the segment can be contributed to the benefits of climate control components in vertical farming, including consistent and optimized growing conditions, reduced risk of crop failure, increased energy efficiency, flexibility in crop selection, and year-round crop production.
• The North American region is projected to account for a major market share in the forecast period. The segment is expected to grow in the coming years, driven by increasing demand for locally grown, fresh produce, technological advancements, government support, investment in research and development, and growing adoption by commercial growers.

𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐫𝐢𝐯𝐞𝐫𝐬

Urbanization and Population Growth: As urban areas expand and populations increase, there is a growing need for sustainable agriculture that can provide fresh produce locally.

Resource Efficiency: Vertical farming uses significantly less water and land compared to traditional farming. It also reduces the need for pesticides and herbicides.

Technological Advancements: Innovations in LED lighting, hydroponics, aeroponics, and automation technologies have made vertical farming more feasible and cost-effective.

Climate Change and Sustainability: With the increasing impact of climate change on traditional farming, vertical farming provides a controlled environment that is not affected by external weather conditions.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐀𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.polarismarketresearch.com/industry-analysis/vertical-farming-market

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐁𝐫𝐞𝐚𝐤𝐝𝐨𝐰𝐧:

The vertical farming market is mainly segmented based on growth mechanism, structure, components, crops, and region. Based on the growth mechanism analysis, the hydroponics category is expected to dominate the market. Hydroponic systems require less water than traditional agricultural methods since the water is recirculated in a closed-loop system. Hydroponics can save up to 90% of water, making it a more sustainable and environmentally benign way of crop cultivation.

Furthermore, according to the structure research, in 2022, the building-based vertical farms category led the market. Building-based vertical farms are a novel technique to grow fresh, healthy, and sustainable food in metropolitan locations with limited space. Space optimization, lower transportation costs, a regulated environment, and increased crop yields are among the factors driving the segment's growth.

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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