Vertical Farming Market Set for Explosive Growth: Projections Vary but Trend is Clear

Vertical Farming Market worth $13.7 billion by 2029 - Exclusive Report by MarketsandMarkets™

CHICAGO, July 31, 2024 /PRNewswire/ -- The Vertical Farming Market is estimated to be USD 5.6 billion in 2024 and is projected to reach USD 13.7 billion by 2029 at a CAGR of 19.7% from 2024 to 2029 according to a new report by MarketsandMarkets™. Agriculture IoT and AI technology, high urbanization, and a push for the necessity of vertical farming by consumers are prominent drivers for the vertical farming market. These factors include; scarcity of land especially one that is suitable for cultivation, climatic change, and an increasing demand for fresh and organically grown fruits and vegetables. Thus, more governments' support and investment and the concerns about food security, driving the vertical farming market. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=221795343 Browse in-depth TOC on "Vertical Farming Market" 110 - Tables 70 - Figures 250 - Pages Vertical Farming Market Report Scope: Report Coverage Details Market Revenue in 2024 $ 5.6 billion Estimated Value by 2029 $ 13.7 billion Growth Rate Poised to grow at a CAGR of 19.7% Market Size Available for 2020-2029 Forecast Period 2024-2029 Forecast Units Value (USD Million/Billion) Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends Segments Covered By offering, growth mechanism, structure, crop type, and region Geographies Covered North America, Europe, Asia Pacific, and Rest of World Key Market Challenge High start-up costs Key Market Opportunities Reduced environmental impact from agriculture by the adoption of vertical farming Key Market Drivers Year-round crop production irrespective of weather conditions Hardware segment to account for the largest market share in the forecasted year. The hardware segment is claimed to have the biggest share in the vertical farm market owing to their role as a necessity for managing climate for plant crops. This segment consists of the lighting, water and nutrient supply, environmental control and other instruments, which are important in the hydroponic system. Amongst these, the most profound has been observed in the area of lighting; LED lighting systems are crucial in providing the right light intensities needed for the growth of plants while conserving energy to the maximum. Additionally, an advanced means for controlling climate parameters such as temperature, humidity and CO2 level ensures optimum growing conditions all year round. Therefore, with the fresh food and local, sustainable products gaining interest constantly, the hardware solutions market should also continue to rise steadily thus confirming the key role played by the hardware segment on the vertical farming market. Building-based vertical farms likely to dominate the overall market between 2024 and 2029. There are several reasons why the building based vertical farm structures has been made to dominant the main actors of the overall vertical farm market. First of all, they allow being placed in any location no matter what climatic conditions in this area or outside are. This makes them particularly adequate for any country or part of the world that faces issues of conventional farming such as deserts or cities. Second of all, high efficiency is peculiar to the building-based VFs because those constructions may fit the use of water, space, and energies in the best way. Such farms can therefore be able to generate more yields per unit of area and this is because of vertical stacking. Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=221795343 North America is expected to hold the significant share of the vertical farming market during the forecast period. North America is anticipated to have significant market share in vertical farming industry owing to several factors, which would increase the acceptance and feasibility of this concept. This growth is attributed specifically to the emerging market pull for fresh localized produce, which is in line with the farm-to-table concept that is steadily gaining ground the world over. The U. S remains the most dominant in this market because of the strong support in funding for vertical farming technologies, favorable regulatory framework, and higher economic status to support venture capital funding. Also, issues like population density, limited availability of land for cultivation, and changes in climate over the years make vertical farming the best solution in the region. Biologging industry leaders such as AeroFarms and Plenty are at the forefront of revolutionizing hydroponics and automating them, a factor that will impact the growth of the sector. As such, these factors render the North American region relevant to continue dominating the Vertical Farming industry. The key companies that offer vertical farming companies include Signify (Netherlands), Freight Farms (US), AeroFarms (US), Sky Greens (Singapore), Spread (Japan), Plenty (US), Valoya (Finland), Osram (Germany), Everlight Electronics (Taiwan), and Heliospectra AB (Sweden). 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[Latest] US Vertical Farming Market Size/Share Worth USD 7.8 Billion by 2033 at a 10.3% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)

Austin, TX, USA, July 31, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled "US Vertical Farming Market Size, Trends and Insights By Structure (Shipping Container, Building Based), By Growing Mechanism (Hydroponics, Aeroponics, Aquaponics), By Crop Type (Fruits Vegetables, & Herbs, Flowers & Ornamentals, Others), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024-2033" in its research database. "According to the latest research study, the demand of US Vertical Farming Market size & share was valued at approximately USD 3.4 Billion in 2023 and is expected to reach USD 4.8 Billion in 2024 and is expected to reach a value of around USD 7.8 Billion by 2033, at a compound annual growth rate (CAGR) of about 10.3% during the forecast period 2024 to 2033." Click Here to Access a Free Sample Report of the US Vertical Farming Market @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=49225 US Vertical Farming Market: Overview Vertical farming frequently uses automation and sensor technology to monitor and optimize environmental factors including temperature, humidity, and nutrient levels. One significant development in the vertical farming business in the United States is the increased use of modern technologies and automation to improve efficiency and output. Vertical farming operations use technologies like artificial intelligence, Internet of Things (IoT) sensors, and robots to monitor and optimize growth conditions, automate chores like sowing and harvesting, and reduce resource use. This movement is motivated by a desire to expand vertical farming operations, increase agricultural yields, and lower labor costs. Furthermore, the use of sustainable practices and renewable energy sources is gaining traction as businesses attempt to reduce their environmental impact while meeting customer demand for ethically produced products. Overall, technological innovation and sustainability are determining the future of vertical farming in the United States, driving its continuing growth and evolution. Request a Customized Copy of the US Vertical Farming Market Report @ https://www.custommarketinsights.com/inquire-for-discount/?reportid=49225 By structure, the shipping container segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Shipping containers are increasingly being used for uses other than traditional freight transit. From modular housing and urban farming to pop-up shops and mobile offices, shipping containers' adaptability and durability continue to inspire creative applications across sectors. By growing mechanism, the hydroponics segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. One prominent trend in hydroponics is the growing popularity of vertical farming systems, which use space-saving, stacked growing layers to maximize crop yields in urban areas. The desire for sustainable, high-quality products, along with a paucity of arable land, is driving this trend. By crop type, fruits vegetables, & herbs segment held highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. A major trend in fruits, vegetables, and herbs is the rising desire for locally grown, organic products owing to health and ecological concerns. Consumers desire fresh, nutrient-dense meals with transparent supply chains, which is fueling the development of urban and vertical farming technologies. AeroFarms is a Danville, VA-based sustainable indoor agriculture firm that grows vegetables using a unique aeroponics method. AeroFarms practices indoor vertical farming, growing a range of crops with artificial intelligence and plant biology. Report Scope Feature of the Report Details Market Size in 2024 USD 4.8 Billion Projected Market Size in 2033 USD 7.8 Billion Market Size in 2023 USD 3.4 Billion CAGR Growth Rate 10.3% CAGR Base Year 2023 Forecast Period 2024-2033 Key Segment By Structure, Growing Mechanism, Crop Type and Region Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends Regional Scope US Buying Options Request tailored purchasing options to fulfil your requirements for research. (A free sample of the US Vertical Farming report is available upon request; please contact us for more information.) Our Free Sample Report Consists of the following: Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.About 220+ Pages Research Report (Including Recent Research)Provide detailed chapter-by-chapter guidance on the Request.Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024Includes Tables and figures have been updated.The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis Custom Market Insights (CMI) research methodology (Please note that the sample of the US Vertical Farming report has been modified to include the COVID-19 impact study prior to delivery.) Request a Customized Copy of the US Vertical Farming Market Report @ https://www.custommarketinsights.com/report/us-vertical-farming-market/ CMI has comprehensively analyzed US Vertical Farming market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict in depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this US Vertical Farming industry. The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships. Request a Customized Copy of the US Vertical Farming Market Report @ https://www.custommarketinsights.com/report/us-vertical-farming-market/ Key questions answered in this report: What is the size of the US Vertical Farming market and what is its expected growth rate?What are the primary driving factors that push the US Vertical Farming market forward?What are the US Vertical Farming Industry's top companies?What are the different categories that the US Vertical Farming Market caters to?What will be the fastest-growing segment or region?In the value chain, what role do essential players play?What is the procedure for getting a free copy of the US Vertical Farming market sample report and company profiles? Key Offerings: Market Share, Size & Forecast by Revenue | 2024-2033Market Dynamics - Growth Drivers, Restraints, Investment Opportunities, and Leading TrendsMarket Segmentation - A detailed analysis by Types of Services, by End-User Services, and by regionsCompetitive Landscape - Top Key Vendors and Other Prominent Vendors Buy this Premium US Vertical Farming Research Report | Fast Delivery Available - [220+ Pages] @ https://www.custommarketinsights.com/report/us-vertical-farming-market/ US Vertical Farming Market: Recent Developments In February 2022, Aero Farms announced a new tomato research partnership with FFAR and the University of Florida to provide vertical agriculture with a path to growing high-yielding crops that produce flavoured tomatoes in atmospheric conditions. In January 2022, Plenty and Walmart announced their long-term commitment to bring fresh, peak-flavour produce to shoppers throughout the year. In April 2021, Aero Farms announced the global largest and most highly sophisticated aeroponic indoor vertical farm in Virginia. Request a Customized Copy of the US Vertical Farming Market Report @ https://www.custommarketinsights.com/report/us-vertical-farming-market/ (We customized your report to meet your specific research requirements. Inquire with our sales team about customizing your report.) Still, Looking for More Information? Do OR Want Data for Inclusion in magazines, case studies, research papers, or Media? Email Directly Here with Detail Information: [email protected] Browse the full "US Vertical Farming Market Size, Trends and Insights By Structure (Shipping Container, Building Based), By Growing Mechanism (Hydroponics, Aeroponics, Aquaponics), By Crop Type (Fruits Vegetables, & Herbs, Flowers & Ornamentals, Others), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024-2033" Report at https://www.custommarketinsights.com/report/us-vertical-farming-market/ List of the prominent players in the US Vertical Farming Market: AeroFarmsPlenty Unlimited Inc.Bowery FarmingBrightFarmsGotham GreensVertical HarvestLufa FarmsOneFreight Farms80 Acres FarmsSquare RootsUrban ProduceCrop One HoldingsJones Food CompanyGreen Sense FarmsEdenworksLocal Roots FarmsInfinite HarvestUrban Crop SolutionsPure Green FarmsOthers Click Here to Access a Free Sample Report of the US Vertical Farming Market @ https://www.custommarketinsights.com/report/us-vertical-farming-market/ Spectacular Deals Comprehensive coverageMaximum number of market tables and figuresThe subscription-based option is offered.Best price guaranteeFree 35% or 60 hours of customization.Free post-sale service assistance.25% discount on your next purchase.Service guarantees are available.Personalized market brief by author. 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Which Trends Are Causing These Developments?Who Are the Key Players in This US Vertical Farming Market? What are Their Company Profile, Product Information, and Contact Information?What Was the Market Status of the US Vertical Farming Market? What Was the Capacity, Production Value, Cost and PROFIT of the US Vertical Farming Market?What Is the Current Market Status of the US Vertical Farming Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of US Vertical Farming Market by Considering Applications and Types?What Are Projections of the US Vertical Farming Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?What Is US Vertical Farming Market Chain Analysis by Upstream Raw Materials and Downstream Industry?What Is the Economic Impact On US Vertical Farming Industry? What are Macroeconomic Environment Analysis Results? What Are Macroeconomic Environment Development Trends?What Are Market Dynamics of US Vertical Farming Market? What Are Challenges and Opportunities?What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for US Vertical Farming Industry? Click Here to Access a Free Sample Report of the US Vertical Farming Market @ https://www.custommarketinsights.com/report/us-vertical-farming-market/ Reasons to Purchase US Vertical Farming Market Report US Vertical Farming Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.US Vertical Farming Market report outlines market value (USD) data for each segment and sub-segment.This report indicates the region and segment expected to witness the fastest growth and dominate the market.US Vertical Farming Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.US Vertical Farming Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain. Reasons for the Research Report The study provides a thorough overview of the US Vertical Farming market. Compare your performance to that of the market as a whole. Aim to maintain competitiveness while innovations from established key players fuel market growth. Buy this Premium US Vertical Farming Research Report | Fast Delivery Available - [220+ Pages] @ https://www.custommarketinsights.com/report/us-vertical-farming-market/ What does the report include? Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide US Vertical Farming market analysis. The competitive environment of current and potential participants in the US Vertical Farming market is covered in the report, as well as those companies' strategic product development ambitions. According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions. For each segment mentioned above, actual market sizes and forecasts have been given. Who should buy this report? Participants and stakeholders worldwide US Vertical Farming market should find this report useful. The research will be useful to all market participants in the US Vertical Farming industry.Managers in the US Vertical Farming sector are interested in publishing up-to-date and projected data about the worldwide US Vertical Farming market.Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in US Vertical Farming products' market trends.Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans. 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