"A comprehensive Vertical Farming Market business research report assists clients in comprehending the various drivers and restraints that impact the market throughout the forecast period. The report encompasses analysis and estimation of significant industry trends, market size, and market share. It serves as a strong incentive for businesses to explore new ventures and improve their operations. Businesses heavily rely on the diverse segments included in the market analysis report, providing them with valuable insights to guide their endeavors in the right direction. The data presented in the top-notch Vertical Farming Market document undergoes scrutiny and validation by market experts for the benefit of readers and end-users.
The superior Vertical Farming Market research report empowers businesses of all sizes, whether large, medium, or small, to thrive and succeed in the market. The inclusion of competitive intelligence is a crucial aspect that helps businesses excel in the market. The transparent, consistent, and extensive market information in this industry analysis report is poised to enhance business development and boost return on investment (ROI). The features and parameters covered in this report contribute to steering the business toward growth and success. The Vertical Farming Market report diligently studies and evaluates market drivers, restraints, challenges, opportunities, and key developments in the market.
Vertical farming is considered a highly sustainable and efficient way of producing food. For instance, Nordic Harvest uses 250 times less water than a traditional farm would require. Furthermore, vertical farming is less disruptive to native animals and plants because of its limited land usage, further protecting native wildlife and flora. As a result, the vertical farming market in North America and other regions, such as the Middle East, have higher record amounts. Venture capitalists, individual investors, governments, and financial institutions are among the sector's major investors today.
Data Bridge Market Research analyses that the vertical farming market is expected to reach USD 32.74 billion by 2030, which was USD 4.60 billion in 2022, registering a CAGR of 27.80% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Explore Further Details about This Research Vertical Farming Market Report
https://www.databridgemarketresearch.com/reports/global-vertical-farming-market
Vertical Farming Market Scope and Segmentation
REPORT METRIC | DETAILS |
Forecast Period | 2023 - 2030 |
Base Year | 2022 |
Historic Years | 2021 (Customizable to 2015 - 2020) |
Quantitative Units | Revenue in USD Billion, Volumes in Units, Pricing in USD |
Segments Covered | Growth Mechanism (Hydroponics, Aeroponics, Terraponics, Aquaponics), Structure (Shipping Containers, Building Based), Type (Biopesticides, Biofertilizer, Biostimulants), Crop Type (Leafy Green, Pollinated Plants, Nutraceutical Plant), Application (Indoor, Outdoor), Offering (Hardware, Software Services), Component (Lighting System, Irrigation and Fertigation System, Climate Control, Sensors, Building Material, HVAC Systems, Shelves and Racks, Others), Fruits, Vegetables and Herbs (Bell and Chili peppers, Strawberry, Tomato, Lettuce, Cucumber, Herbs, Leafy Greens (excluding lettuce), Others) |
Countries Covered | U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
Market Players Covered | Deere and Company (U.S.), CropMetrics LLC (Netherlands), Trimble Navigation Limited (Australia), CropX (U.S.), AgSmarts Inc (India), AgSense, LLC (India), AGCO Corporation (Austria), DICKEY-john (U.K), Monsanto Company (Mexico), Ag Leader Technology (U.S.) Farmers Edge (U.S.), GEOSYS (U.S.), Granular (U.S.), Gro Intelligence (U.S.), Proagrica (U.K.), Fasal (India), AGEYE Technologies (U.S.), HelioPas AI (Germany), OneSoil (Belarus) |
Market Opportunities |
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Market Definition
Vertical farming is the process of producing vegetables in layers that are mainly piled vertically. The technique may employ aeroponic, hydroponic, or soil-growing techniques. Vertical farms try to produce food in tough situations, such as those where arable land is unavailable or few. It is a technique for increasing food in water without using soil and mineral nutrition solutions. The main benefits of this process are that it minimizes soil-related cultivation problems such as illnesses, soil-borne pests, and insects.
Global Vertical Farming Market Dynamics
Drivers
- The increasing rate of population widens the market scope
As a result of the increasing rate of population, which has changed consumer preferences for more healthy, organic, and environmentally friendly foods, the vertical farming industry has been developing in various ways across the globe. This has created several chances for vertical farming businesses. The market for organic farming, which naturally inclines to produce vegetables and fruits without pesticides and insecticides, is extremely dependent on vertical farming. Therefore, the increasing rate of population is expected to drive market growth.
- Growing popularity of vertical farming due to its better yield than the conventional one
The increasing popularity of vertical farming due to its better yield than conventional one is likely to propel the market growth during the forecast period. This is because vertical agriculture uses climate control, which continuously modifies humidity and temperature, and LED lighting. As a result, vertical farming yields are higher than conventional farming. Vertical farming also provides significant output benefits. It has been witnessed that vertical farming may surge agricultural output by 240 times, using 99 percent less land, zero pesticides, and 95% less water. As a result of all these factors, the market growth during the forecast period is enhanced.
Opportunities
- Increasing adoption of advanced technology in vertical farming
With the increasing innovation in agricultural technology, the vertical farming industry is rising rapidly and attracting more individual and commercial attention. Numerous commercial growers are adopting these innovative and high capital expenditure technologies, such as advanced electronic traceability and hydroponic systems. Also, growers are investing in LEDs and other innovative lighting products in vertical farming to decrease their exposure to associated risks by careful monitoring. Hence, increasing adoption of advanced technology in vertical farming will help likely create lucrative market growth opportunities in upcoming years.
The increased demand for organic products among consumers, fueled by the improved standard of living and higher disposable income, paved the way for the development of vertical farming, wherein organic farming is practiced widely.
- Growing adoption of automation and digitization in vertical farming
The rising adoption of automation and digitization in vertical farming is expected to create ample opportunities for market growth in the projected period. Automation and digitization minimizes time, reduces environmental expenses, improves production and standardizes food quality. The Internet of things (IoT) has become the major technology in vertical farming, creating numerous market growth opportunities. The growth in the internet of things (IoT) has revolutionized the agriculture industry and boosted the market's growth.
Key Points mentioned in the Vertical Farming Market report:
What was the market size in 2030?
- What are the moves of key players?
- Which region is leading the market at global Vertical Farming Market?
- A comprehensive/competitive analysis of the Vertical Farming Market?
- What the drivers and restrains are for the Vertical Farming Market?
- How will the market stand in the forecast period of
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