The vertical farming market report stands as an exhaustive study delving into diverse market segments and regions, unraveling emerging trends alongside significant drivers, challenges, and opportunities within the market landscape. Holding profound significance, this report meticulously defines markets, classifies them, identifies applications, and engages stakeholders. Every parameter within this report is explored to analyze market status, shares, growth rates, future trends, drivers, opportunities, challenges, risks, entry barriers, sales channels, and distributor dynamics.

Within the competitive landscape detailed in this vertical farming market report lies strategic profiling of key players in the vertical farming market industry, offering a comprehensive analysis of their core competencies and strategies. The information and data furnished by this report prove instrumental for market domination or establishing a new presence within the market sphere. Armed with actionable market insights, clients can craft sustainable and lucrative business strategies.

Additionally, the vertical farming market report delves into vital industry trends, estimating market sizes, sales volumes, and market shares, providing an in-depth analysis and discussion. By assisting in gauging brand awareness, market landscapes, potential future challenges, industry trends, and customer behavior, this report becomes instrumental in refining and optimizing business strategies.

Data Bridge Market Research analyses that the vertical farming market is expected to reach USD 32.74 billion by 2030, which was USD 4.60 billion in 2022, registering a CAGR of 27.80% during the forecast period of 2023 to 2030.

Definition

Vertical farming is the process of producing vegetables in layers that are mainly piled vertically. The technique may employ aeroponic, hydroponic, or soil-growing techniques. Vertical farms try to produce food in tough situations, such as those where arable land is unavailable or few. It is a technique for increasing food in water without using soil and mineral nutrition solutions. The main benefits of this process are that it minimizes soil-related cultivation problems such as illnesses, soil-borne pests, and insects.

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Key Growth Drivers:

• The increasing rate of population widens the market scope

As a result of the increasing rate of population, which has changed consumer preferences for more healthy, organic, and environmentally friendly foods, the vertical farming industry has been developing in various ways across the globe. This has created several chances for vertical farming businesses. The market for organic farming, which naturally inclines to produce vegetables and fruits without pesticides and insecticides, is extremely dependent on vertical farming. Therefore, the increasing rate of population is expected to drive market growth.

• Growing popularity of vertical farming due to its better yield than the conventional one

The increasing popularity of vertical farming due to its better yield than conventional one is likely to propel the market growth during the forecast period. This is because vertical agriculture uses climate control, which continuously modifies humidity and temperature, and LED lighting. As a result, vertical farming yields are higher than conventional farming. Vertical farming also provides significant output benefits. It has been witnessed that vertical farming may surge agricultural output by 240 times, using 99 percent less land, zero pesticides, and 95% less water. As a result of all these factors, the market growth during the forecast period is enhanced.

The report emphasizes the participation of key entities, notably:

• Deere and Company (U.S.)
• CropMetrics LLC (Netherlands)
• Trimble Navigation Limited (Australia)
• CropX (U.S.)
• AgSmarts Inc (India)
• AgSense, LLC (India)
• AGCO Corporation (Austria)
• DICKEY-john (U.K.)
• Monsanto Company (Mexico)
• Ag Leader Technology (U.S.)
• Farmers Edge (U.S.)
• GEOSYS (U.S.)
• Granular (U.S.)
• Gro Intelligence (U.S.)
• Proagrica (U.K.)
• Fasal (India)
• AGEYE Technologies (U.S.)
• HelioPas AI (Germany)
• OneSoil (Belarus)

Major Points in the Report

• Understanding the entirety of the vertical farming marketlandscape thoroughly.
• Exploring the leading entities in this sector, delving into their range of products and core approaches.
• Examining the prominent geographical areas where vertical farming marketdemonstrates significant growth.
• Keeping abreast of the latest shifts and advancements within the industry.
• Identifying specific areas or markets with high potential and promising expansion opportunities.

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Key Market Segmentation

By Growth Mechanism (Hydroponics, Aeroponics, Terraponics, Aquaponics), Structure (Shipping Containers, Building Based), Type (Biopesticides, Biofertilizer, Biostimulants), Crop Type (Leafy Green, Pollinated Plants, Nutraceutical Plant), Application (Indoor, Outdoor), Offering (Hardware, Software Services), Component (Lighting System, Irrigation and Fertigation System, Climate Control, Sensors, Building Material, HVAC Systems, Shelves and Racks, Others), Fruits, Vegetables and Herbs (Bell and Chili peppers, Strawberry, Tomato, Lettuce, Cucumber, Herbs, Leafy Greens (excluding lettuce), Others)

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