Vertical Farming Market: Key Market Dynamics
The rising need to meet the growing demand for food products is expected to influence the vertical market growth positively. The technologies used in vertical farming can be used with various farming systems in multi-level designs and provide more area than single-level systems. This, in turn, aids in improving the crop yield and providing a high-profit agricultural activity for the end-users. Furthermore, growing demand for smart/advanced vertical farming technologies with automated systems is one of the key vertical farming market trends fueling market growth.
However, the limitations of vertical farming is one of the factors challenging the vertical farming market growth. Vertical farming does not provide calorie-rich foods as they require high food security. Domesticated grain crops such as wheat, barley, corn, and rice are mainly produced using traditional farming methods. Hence, the limitations of vertical farming can affect the growth of the vertical farming market during the forecast period.
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Vertical Farming Market: Revenue-generating Segment Highlights
- Tomato: The tomato crop type segment held the largest vertical farming market share in 2021. The segment will continue to account for the largest market share during the forecast period. Tomatoes are popular in the food and beverage industry and are used in abundance in hotels, restaurants, and fast-food outlets worldwide. In addition, the fast-food business is growing across the world, propelling the demand for tomatoes. Hence, increasing demand for tomatoes is expected to increase the demand for vertical farming for growing tomatoes during the forecast period.
- Lettuce
- Bell and chilli peppers
- Strawberry
- Others
Vertical Farming Market: Geographic Insights
- APAC: 37% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for the vertical farming market in APAC. Market growth in this region will be faster than the growth of the market in South America. The increasing population and less availability of fertile land will facilitate the vertical farming market growth in APAC over the forecast period.
- North America
- Europe
- South America
- MEA
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Vertical Farming Market: Competitive Landscape
The vertical farming market is fragmented and the vendors are deploying growth strategies such as mergers and acquisitions to compete in the market. To make the most of the opportunities and recover from post-pandemic impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Companies are launching innovative products and solutions to garner traction among the target audience. For instance, Agrilution.com offers Plantcube services which is a self-contained system focused entirely on growing leafy greens, herbs, and microgreens at an optimum temperature with automatic watering, thus plants grow 2 to 3 times faster, contain up to 30 x more nutrients, and have a more intense flavor. Freightfarms.com offer GREENERY S which is a vertical hydroponic farm built entirely inside shipping container, thus contain freight farms provided with high-efficiency light-emitting diode to provide light wavelengths with strategic light schedules and power levels to stimulate faster plant growth and development.
- 4D Bios Inc.
- Agrilution Systems GmbH
- ALTIUS FARMS
- AmHydro
- Bowery Farming Inc.
- Eden Green Technology
- Freight Farms Inc.
- Future Crops
- Green Sense Farms Holding Inc.
- Grow Pod Solutions
- Heliospectra AB
- IGS Ltd.
- OSRAM GmbH
- SANANBIO
- Signify NV
- Sky Greens
- SPREAD Co. Ltd.
- Urban Crop Solutions
- Valoya Oy
- Vertical Farm Systems Pty Ltd
- Vertical Future Ltd.
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What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2020, 2021, until 2025
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Related Reports:
Indoor Farming Market by Application and Geography - Forecast and Analysis 2022-2026
Landscaping and Gardening Services Market by End-user and Geography - Forecast and Analysis 2022-2026
Vertical Farming Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 21.93% |
Market growth 2022-2026 |
$ 6.70 billion |
Market structure |
Fragmented |
YoY growth (%) |
21.11 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 37% |
Key consumer countries |
US, Canada, China, India, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
4D Bios Inc., Agrilution Systems GmbH, ALTIUS FARMS, AmHydro, Bowery Farming Inc., Eden Green Technology, Freight Farms Inc., Future Crops, Green Sense Farms Holding Inc., Grow Pod Solutions, Heliospectra AB, IGS Ltd., OSRAM GmbH, SANANBIO, Signify NV, Sky Greens, SPREAD Co. Ltd., Urban Crop Solutions, Valoya Oy, Vertical Farm Systems Pty Ltd, and Vertical Future Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Content
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Crop Type
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Crop Type
- 5.1 Market segments
- Exhibit 24: Chart on Crop Type - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Crop Type - Market share 2021-2026 (%)
- 5.2 Comparison by Crop Type
- Exhibit 26: Chart on Comparison by Crop Type
- Exhibit 27: Data Table on Comparison by Crop Type
- 5.3 Tomato - Market size and forecast 2021-2026
- Exhibit 28: Chart on Tomato - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Tomato - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Tomato - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Tomato - Year-over-year growth 2021-2026 (%)
- 5.4 Lettuce - Market size and forecast 2021-2026
- Exhibit 32: Chart on Lettuce - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Lettuce - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Lettuce - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Lettuce - Year-over-year growth 2021-2026 (%)
- 5.5 Bell and chili peppers - Market size and forecast 2021-2026
- Exhibit 36: Chart on Bell and chili peppers - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Bell and chili peppers - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Bell and chili peppers - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Bell and chili peppers - Year-over-year growth 2021-2026 (%)
- 5.6 Strawberry - Market size and forecast 2021-2026
- Exhibit 40: Chart on Strawberry - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Strawberry - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Strawberry - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Strawberry - Year-over-year growth 2021-2026 (%)
- 5.7 Others - Market size and forecast 2021-2026
- Exhibit 44: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 45: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 46: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 47: Data Table on Others - Year-over-year growth 2021-2026 (%)
- 5.8 Market opportunity by Crop Type
- Exhibit 48: Market opportunity by Crop Type ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 50: Chart on Market share by geography 2021-2026 (%)
- Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 52: Chart on Geographic comparison
- Exhibit 53: Data Table on Geographic comparison
- 7.3 APAC - Market size and forecast 2021-2026
- Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.4 North America - Market size and forecast 2021-2026
- Exhibit 58: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.5 Europe - Market size and forecast 2021-2026
- Exhibit 62: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.6 South America - Market size and forecast 2021-2026
- Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 70: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.8 China - Market size and forecast 2021-2026
- Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.9 US - Market size and forecast 2021-2026
- Exhibit 78: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.10 Germany - Market size and forecast 2021-2026
- Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.11 India - Market size and forecast 2021-2026
- Exhibit 86: Chart on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on India - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on India - Year-over-year growth 2021-2026 (%)
- 7.12 Canada - Market size and forecast 2021-2026
- Exhibit 90: Chart on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 91: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 92: Chart on Canada - Year-over-year growth 2021-2026 (%)
- Exhibit 93: Data Table on Canada - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 94: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.3 Impact of drivers and challenges
- Exhibit 95: Impact of drivers and challenges in 2021 and 2026
9 Vendor Landscape
- 9.2 Vendor landscape
- Exhibit 96: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 97: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 98: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 99: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 100: Matrix on vendor position and classification
- 10.3 Agrilution Systems GmbH
- Exhibit 101: Agrilution Systems GmbH - Overview
- Exhibit 102: Agrilution Systems GmbH - Product / Service
- Exhibit 103: Agrilution Systems GmbH - Key offerings
- 10.4 AmHydro
- Exhibit 104: AmHydro - Overview
- Exhibit 105: AmHydro - Product / Service
- Exhibit 106: AmHydro - Key offerings
- 10.5 Freight Farms Inc.
- Exhibit 107: Freight Farms Inc. - Overview
- Exhibit 108: Freight Farms Inc. - Product / Service
- Exhibit 109: Freight Farms Inc. - Key offerings
- 10.6 Green Sense Farms Holding Inc.
- Exhibit 110: Green Sense Farms Holding Inc. - Overview
- Exhibit 111: Green Sense Farms Holding Inc. - Product / Service
- Exhibit 112: Green Sense Farms Holding Inc. - Key offerings
- 10.7 Heliospectra AB
- Exhibit 113: Heliospectra AB - Overview
- Exhibit 114: Heliospectra AB - Product / Service
- Exhibit 115: Heliospectra AB - Key offerings
- 10.8 OSRAM GmbH
- Exhibit 116: OSRAM GmbH - Overview
- Exhibit 117: OSRAM GmbH - Business segments
- Exhibit 118: OSRAM GmbH - Key offerings
- Exhibit 119: OSRAM GmbH - Segment focus
- 10.9 Signify NV
- Exhibit 120: Signify NV - Overview
- Exhibit 121: Signify NV - Business segments
- Exhibit 122: Signify NV - Key news
- Exhibit 123: Signify NV - Key offerings
- Exhibit 124: Signify NV - Segment focus
- 10.10 Sky Greens
- Exhibit 125: Sky Greens - Overview
- Exhibit 126: Sky Greens - Product / Service
- Exhibit 127: Sky Greens - Key offerings
- 10.11 SPREAD Co. Ltd.
- Exhibit 128: SPREAD Co. Ltd. - Overview
- Exhibit 129: SPREAD Co. Ltd. - Product / Service
- Exhibit 130: SPREAD Co. Ltd. - Key news
- Exhibit 131: SPREAD Co. Ltd. - Key offerings
- 10.12 Valoya Oy
- Exhibit 132: Valoya Oy - Overview
- Exhibit 133: Valoya Oy - Product / Service
- Exhibit 134: Valoya Oy - Key offerings
11 Appendix
- 11.2 Inclusions and exclusions checklist
- Exhibit 135: Inclusions checklist
- Exhibit 136: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 137: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 138: Research methodology
- Exhibit 139: Validation techniques employed for market sizing
- Exhibit 140: Information sources
- 11.5 List of abbreviations
- Exhibit 141: List of abbreviations
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