Vertical Farming Market Size Worth $33.02 Billion by 2030: Grand View Research, Inc.

Read 120-page market research report, "Vertical Farming Market Size, Share & Trends Analysis Report By Structure (Shipping Container, Building-based), By Offering, By Growing Mechanism, By Fruits, Vegetables & Herbs, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Vertical Farming Market Growth & Trends

Information obtained from the sensors is stored on the cloud and analyzed to perform the required actions. The growing automation in agriculture and increasing use of big data and predictive analytics for maximizing yields are also likely to drive the market.

Vertical farming is effective in ensuring stability in crop production and maintaining reliability even in adverse climatic conditions. It provides multiple benefits over the traditional farming technique, such as less use of water, the lesser need for agrochemicals, and low dependence on agricultural labor. Vertical farming makes use of metal reflectors and artificial lighting to maximize natural sunlight.

Genetically modified organisms and the environmental and health effects of pesticides and other non-natural substances that are used for increasing agricultural production have encouraged consumers to adopt organic foods. According to the Organic Trade Association, the U.S. organic industry sales increased by around 5% in 2019 owing to the increased investment in infrastructure and education. As per the Organic Foods Production Act of 1990, the handlers and growers of organic products need to comply with the regulations.

Artificial lighting helps in extending the hours of natural daylight, which further increases the health, growth rate, and yield of the plants. Artificial lighting such as high-pressure sodium lighting and LED lighting can extend the availability of crops (throughout a season). LED lighting systems produce a dual-band color spectrum and generate low heat. They are anticipated to witness significant growth over the forecast period.

A hydroponic system is a method of growing plants without soil. A hydroponic system eliminates the need for pesticides and artificial ripening agents and helps in producing nutritionally-rich vegetables. However, factors such as high initial investment and fewer crop varieties are likely to restrain the market growth.

Vertical Farming Market Segmentation

Grand View Research has segmented the global vertical farming market based on structure, offering, growing mechanism, fruits, vegetables, & herbs, and region:

Vertical Farming Structure Outlook (Revenue, USD Million, 2017 - 2030)

Vertical Farming Offering Outlook (Revenue, USD Million, 2017 - 2030)

Vertical Farming Growing Mechanism Outlook (Revenue, USD Million, 2017 - 2030)

Vertical Farming Fruits, Vegetables, & Herbs Outlook (Revenue, USD Million, 2017- 2030)

Vertical Farming Regional Outlook (Revenue, USD Million, 2017 - 2030)

List of Key Players of Vertical Farming Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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