Agricoltura
Vertical Farming Market to Reach $24.11 Billion, Globally, By 2030 at 22.9% CAGR: Allied Market Research
Maximum utilization of vertical space and balanced energy usage, convenience in crop monitoring and harvesting, and limited arable land for traditional agriculture fuel the global vertical farming market growth. However, high initial investments limit the market growth. On the other hand, rise in prominence of organic foods create new opportunities in the coming years.
Based on structure, the shipping container based vertical farms segment is expected to witness the from 2021 to 2030, owing to reduction in cost and time required for extensive construction in comparison to conventional agriculture. However, the building based vertical farms segment held the highest share in 2020, accounting for more than half of the global vertical farming market, and is expected to maintain its leadership status during the forecast period. This is due to rise in demand in dense urban environments and the trends of current cultivation techniques and projects.
Based on growth mechanism, the hydroponics segment accounted for the highest share in 2020, contributing to more than two-fifths of the global vertical farming market, and is expected to continue its lead in terms of revenue during the forecast period. This is attributed to ongoing developments that cater to casual indoor growers. However, the aeroponics segment is estimated to portray the fastest CAGR of 24.0% from 2021 to 2030, owing to its environment-friendly nature, high yield of crops, and high investments from key players.
Based on region, Asia-Pacific , followed by North America , contributed to the highest share in 2020, accounting for nearly half of the global vertical farming market, and is estimated to continue its dominant share by 2030. This is attributed to upsurge in demand for organic food. However, Europe is projected to register the largest CAGR of 25.3% during the forecast period, owing to increase in building of Controlled Environment Agriculture (CEA) facilities.
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