(MENAFN- GlobeNewsWire - Nasdaq) “Innovative Solutions for Urban Agriculture fuel Rapid Growth in the Vertical Farming Sector”Austin, Nov. 04, 2024 (GLOBE NEWSWIRE) -- market Size & Growth Analysis:
As per the S&S Insider Report,“ The Vertical Farming Market is poised for exponential growth, with a market size projected at USD 5.81 Billion in 2023, anticipated to reach USD 35.76 Billion by 2032, reflecting a robust CAGR of 22.42% from 2024 to 2032. ”
Urban areas are increasingly turning to innovative solutions like vertical farming to meet the growing demand for sustainable food production, causing the market to rapidly expand. With urbanization speeding up, it is crucial to bring food production nearer to city centers to lower transportation expenses and reduce emissions from conventional agriculture. Vertical farms, strategically placed in or close to urban areas, greatly reduce the distance food has to travel from the farm to the table. These establishments use modern technologies to function effectively, using significantly less water, up to 90%, and producing ten times more crops per square foot than traditional farming techniques. In the year 2022, the indoor vertical farming industry received significant funding amounting to USD 2.4 billion. Despite this, the global amount raised in the first quarter of 2023 dropped to just USD 75.8 million in 14 deals, showing a 70% decrease in deal value compared to the previous quarter. Indoor farming startups took around 20% of the 4.5 billion USD invested in ag-tech startups in 2022. Vertical farming is commonly used to grow leafy greens, herbs, and microgreens that grow quickly and can be harvested multiple times annually. This is especially beneficial for restaurants, supermarkets, and internet-based food delivery services that need a constant stream of top-notch, fresh produce. One example is Bowery Farming, which uses advanced vertical farming methods to provide fresh produce to customers with less harm to the environment.
Get a Sample Report of Vertical Farming Market Forecast @
Dominant Market Players with their Products Listed in this Report are:
AeroFarms (Model X, Dream Greens) Plenty (Farm Stack, Lettuce Mix) Bowery Farming (Bowery Arugula, Bowery Kale) Infarm (Infarm Grow Platform, Infarm Salad Greens) BrightFarms (Sunny Crunch, BrightBerry) Gotham Greens (Gotham Butterhead Lettuce, Gotham Pesto Basil) Freight Farms (Greenery S, Leafy Green Machine) Vertical Harvest (Microgreen Mix, Leafy Blend) Spread Co., Ltd . (Techno Farm Keihanna, Green Leaf) Agricool (Coolberry, Coolgreens) Urban Crop Solutions (Plant Factory, Cropbox) Sky Greens (Sky Urban Systems, Vertical Farming Towers) Kalera (Kale Microgreens, Butterhead Lettuce) Altius Farms (Living Butter Lettuce, Living Basil) Square Roots (Herb Gardens, Square Roots Salad Mix) JungleBox (Modular Farm System, JungleBox Greens) Sky Vegetables (Sky Romaine, Sky Basil) Plantagon (Plantagon CityFarm, Vertical Greenhouse) iFarm (iFarm Growtune, iFarm Leafy Greens) Mirai Co., Ltd. (Mirai Leafy Green, Mirai Romaine)
“In-Depth Segment Analysis: Unpacking Key Market Dynamics”
By Structure
The shipping container segment dominated the vertical farming industry in 2023, holding a 58% market share. This innovative approach utilizes refurbished shipping containers equipped with modern technology to facilitate efficient farming in urban environments. Shipping containers are pre-fabricated, weather-resistant, and portable, making them ideal for cities with limited space.
By Component
The hardware segment led the vertical farming market in 2023 with a 45% market share, driven by substantial investments in cutting-edge agricultural technologies. This segment encompasses critical components such as LED grow lights, hydroponic systems, climate control systems, and irrigation technologies. The growing demand for effective food production methods in urban settings is propelling the adoption of these hardware solutions, which optimize plant growth in compact spaces.
Do y ou Have a ny Specific Queries o r Need a ny Customiz e Research on Vertical Farming Market, Request for Analyst Call @
Key Market Segments:
By Structure
Shipping Container Building-based
By Component
Hardware Software Services
By Growing Mechanism
Hydroponics Aeroponics Aquaponics
By Crop Category
Fruits Vegetables, & Herbs Flowers & Ornamentals Others
"Regional Dynamics and Growth Trends in the Global Market: A Comprehensive Analysis"
Europe dominated the vertical farming market in 2023 with a 35% market share and is also projected to grow at a faster CAGR during 2024-2032. This new farming technique maximizes land usage by growing crops in stacked layers in urban settings, making use of vertical space and minimizing the requirement for flat land. European cities are utilizing vertical farming more often to address the challenges of limited agricultural space and a growing population, aiming to produce fresh local food and reduce transportation costs and carbon footprints. The incorporation of hydroponics, aeroponics, and artificial lighting systems in this industry is important for enabling cultivation throughout the year, regardless of external weather conditions, thanks to technological progress. Nations such as the Netherlands and Germany are leading in this initiative, prioritizing investment in research and development to enhance crop productivity and effectiveness. In addition, vertical farms help conserve resources by utilizing much less water compared to conventional farming techniques.
Recent Developments:
| Date | Development |
| May-23 | AeroFarms, a Certified B Corporation and a top player in indoor vertical farming reveals national growth with Amazon Fresh online and at all Amazon Fresh grocery store locations, famous for its distinctive, high-tech customer-oriented grocery store experience. |
| Sep-24 | Gotham Greens has a large greenhouse containing tens of thousands of lettuce and basil plants, forming a sea of emerald within the expansive area. Indoors, the cozy atmosphere is filled with a pleasant and aromatic scent. |
Purchase an Enterprise User License of Vertical Farming Market Report at 40% Discount @
Future Trends:
The Vertical Farming Market is expected to evolve significantly over the coming years, driven by several key trends:
Technological Advancements : Continued investment in automation, artificial intelligence, and IoT technologies will enhance operational efficiency and yield in vertical farms.
Sustainable Practices : As consumers become more environmentally conscious, vertical farming will increasingly emphasize sustainability, reducing waste and resource consumption.
Expansion of Crop Varieties : Vertical farms will diversify their crop offerings, moving beyond leafy greens to include fruits and other high-demand produce.
Integration with Smart Cities : Vertical farming will play a crucial role in urban planning, seamlessly integrating with smart city initiatives to ensure food security in densely populated areas.
Collaborative Models : Partnerships between vertical farming companies, local governments, and educational institutions will foster innovation and drive growth in urban agriculture.
T able o f Contents - Key Points Analysis
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Vertical Farming Cost Analysis, 2023
5.2 Vertical Farming Technological Adoption Rates
5.3 Vertical Farming Integration Capabilities
5.4 Environmental Impact Metrics
6. Competitive Landscape
7. Vertical Farming Market Segmentation, by Structure
8. Vertical Farming Market Segmentation, by Component
9. Vertical Farming Market Segmentation, by Growing Mechanism
10. Vertical Farming Market Segmentation, by Crop Category
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
Access Complete Report Insights of Vertical Farming Market Growth & Outlook 2024-2032@
[For more information or need any customization research mail us at ... ]
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
CONTACT: Contact Us:
Akash Anand – Head of Business Development & Strategy
...
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)
MENAFN04112024004107003653ID1108848480
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.