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Vertical Farming Crops Market

Vertical Farming Crops Market Forecasts to 2028 – Global Analysis By Farming Technique (Aeroponics, Aquaponics, Hydroponics), Crop Type (Herbs, Tomato, Leafy Greens Crops), End User (Food Service, Direct Retail) and By Geography

5.0 (38 reviews)
Published: August 2021 ID: SMRC20826
5.0 (38 reviews)
Published: August 2021 ID: SMRC20826

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Vertical Farming Crops Market is accounted for $268.05 million in 2020 and is expected to reach $1,517.70 million by 2028 growing at a CAGR of 24.2% during the forecast period. Rising demand for pesticide-free food products, change in consuming spending behavior and limited availability of arable land for conventional agriculture are driving the market growth. However, high investment cost and lack of skilled workforce are hampering the growth of the market.

Vertical farming is a type of agriculture practiced in indoor wherein the plants are produced in vertical layers. Some of the plants grown through vertical farming include vining plants, leafy greens, herbs, and specialty produce.  

Based on the crop type, the leafy green crop segment is going to have lucrative growth during the forecast period as these crops have the highest harvestable yield in vertical farming and can be produced within a shorter span of time and are hence economically viable.

By geography, Asia Pacific is going to have high growth during the forecast period due to the increasing ability to grow locally for sustainable food production in countries such as Thailand, Singapore, India among others are top fresh produce importing countries. Moreover, Asian governments have been promoting crop cultivation through urban farming by providing subsidies and national policy initiatives.

Some of the key players profiled in the Vertical Farming Crops Market include AeroFarms, Bowery Farming, InFarm, Gotham Greens, AgriCool, Green Spirits Farm, CropOne, PlantLab and Spread Co.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 268.05 million

Estimated Period:

2020

Compound Annual Growth Rate (CAGR) from 2020 to 2028:

24.2%

Predicted 2028 Value:

USD 1,517.70 million

Forecast Years:

2021-2028

Tables, Graphs& Figures

75

Chapters Covered:

Farming Technique, Crop Type, End User and Region

Core Drivers and Opportunities:

  • Rising demand for pesticide-free food products
  • Changes in consuming spending behavior
  • Limited availability of arable land for conventional agriculture

Restraining Factors & Market Threats:

  • High investment cost
  • Lack of skilled workforce


Farming Techniques Covered:
• Aeroponics
• Aquaponics
• Hydroponics

Crop Types Covered:
• Herbs
• Tomato
• Leafy Greens Crops   

End Users Covered:
• Food Service
• Direct Retail  

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, 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

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Key Questions Answered In The Report

The Global Vertical Farming Crops Market is majorly driven by rising demand for pesticide-free food products, change in consuming spending behavior and limited availability of arable land for conventional agriculture.

The leafy green crop segment is growing at a highest CAGR as these crops have the highest harvestable yield in vertical farming and can be produced within a shorter span of time and are hence economically viable.

Asia Pacific dominated with a significant market share due to the increasing ability to grow locally for sustainable food production in countries such as Thailand, Singapore, India among others are top fresh produce importing countries.

Europe market is growing at a highest CAGR due to the growing need for new productive farming activities in the region. Moreover, the market in the region is mostly driven by the growing food demand, urbanization and unfavorable weather conditions for conventional farming.

Key players in Vertical Farming Crops Market include AeroFarms, Bowery Farming, InFarm, Gotham Greens, AgriCool, Green Spirits Farm, CropOne, PlantLab and Spread Co.

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