Read the 120-page report with TOC on "Vertical Farming Market Analysis Report by Product (Tomato, Lettuce, Bell and chili pepper, and Strawberry) and Geography (APAC, North America, Europe, South America, and Middle East and Africa), and the Segment Forecasts, 2022-2026". Get Report Snapshot
Market Driver
One of the main factors boosting the market expansion for vertical farming is the requirement to satisfy the growing demand for food goods. Vertical farming is a new method of growing large quantities of agricultural products without relying on favorable meteorological circumstances. Additionally, as the population grows, so does the demand for food products. In comparison to single-level farming systems, vertical farming technologies offer more space and can be employed with a variety of farming systems in multi-level designs.
Another trend driving market expansion is the increasing demand for smart/advanced vertical farming technologies with automated systems.
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Major Five Vertical Farming Companies:
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- AS GIRI AND AQUA LLP
- Bowery Farming Inc.
- Dream Harvest Farming Company LLC
- Eataly Net USA LLC
- Elevate Farms
- Hortifrut SA
- Kalera Inc.
- Nordic Harvest AS
- Plenty Unlimited Inc.
- SPREAD Co. Ltd.
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Revenue-generating Deployment Segments
During the anticipated term, the tomato segment's market share will expand significantly. The economic viability of a crop, like tomatoes, is one of the key considerations in vertical farming because it guarantees that the business will profit greatly from its development. In the food and beverage industry, tomatoes are widely utilized in hotels, dining establishments, and fast-food restaurants all over the world. Additionally, the global expansion of the fast-food industry is driving up tomato consumption. As a result, over the projection period, there will likely be greater demand for vertical farming to cultivate tomatoes.
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Regional Analysis
APAC will account for 43% of market growth. The two largest vertical farming markets in APAC are China and India. This region's market will expand more quickly than those in other areas.
Over the projection period, the vertical farming market would rise in APAC due to the rising population and decreasing availability of arable land. In order to help vendors create effective business plans, this market research report includes comprehensive information on the competition intelligence, marketing gaps, and geographical prospects available to them.
Find additional highlights on the growth strategies adopted by vendors and their product offerings, Download Sample Report.
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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 16.55% |
Market growth 2022-2026 |
$ 6.49 billion |
Market structure |
Fragmented |
YoY growth (%) |
15.98 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 43% |
Key consumer countries |
US, Canada, China, India, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
AS GIRI AND AQUA LLP, Bowery Farming Inc., Dream Harvest Farming Company LLC, Eataly Net USA LLC, Elevate Farms, Hortifrut SA, Kalera Inc., Nordic Harvest AS, Plenty Unlimited Inc., SPREAD Co. Ltd., Triton Foodworks, Upward Enterprises Inc., URBAN GREEN FATE FARMS, UrbanKisaan, Vertical Harvest, Vertical Roots, and Village Farms International Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis 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 Contents
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 Product
- 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 Product
- 5.1 Market segments
- Exhibit 24: Chart on Product - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
- 5.2 Comparison by Product
- Exhibit 26: Chart on Comparison by Product
- Exhibit 27: Data Table on Comparison by Product
- 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 pepper - Market size and forecast 2021-2026
- Exhibit 36: Chart on Bell and chili pepper - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Bell and chili pepper - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Bell and chili pepper - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Bell and chili pepper - 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 Product
- Exhibit 48: Market opportunity by Product ($ 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 Bowery Farming Inc.
- Exhibit 101: Bowery Farming Inc. - Overview
- Exhibit 102: Bowery Farming Inc. - Product / Service
- Exhibit 103: Bowery Farming Inc. - Key offerings
- 10.4 Dream Harvest Farming Company LLC
- Exhibit 104: Dream Harvest Farming Company LLC - Overview
- Exhibit 105: Dream Harvest Farming Company LLC - Product / Service
- Exhibit 106: Dream Harvest Farming Company LLC - Key offerings
- 10.5 Eataly Net USA LLC
- Exhibit 107: Eataly Net USA LLC - Overview
- Exhibit 108: Eataly Net USA LLC - Product / Service
- Exhibit 109: Eataly Net USA LLC - Key offerings
- 10.6 Kalera Inc.
- Exhibit 110: Kalera Inc. - Overview
- Exhibit 111: Kalera Inc. - Product / Service
- Exhibit 112: Kalera Inc. - Key news
- Exhibit 113: Kalera Inc. - Key offerings
- 10.7 Nordic Harvest AS
- Exhibit 114: Nordic Harvest AS - Overview
- Exhibit 115: Nordic Harvest AS - Product / Service
- Exhibit 116: Nordic Harvest AS - Key offerings
- 10.8 Plenty Unlimited Inc.
- Exhibit 117: Plenty Unlimited Inc. - Overview
- Exhibit 118: Plenty Unlimited Inc. - Product / Service
- Exhibit 119: Plenty Unlimited Inc. - Key offerings
- 10.9 Upward Enterprises Inc.
- Exhibit 120: Upward Enterprises Inc. - Overview
- Exhibit 121: Upward Enterprises Inc. - Product / Service
- Exhibit 122: Upward Enterprises Inc. - Key offerings
- 10.10 Vertical Harvest
- Exhibit 123: Vertical Harvest - Overview
- Exhibit 124: Vertical Harvest - Product / Service
- Exhibit 125: Vertical Harvest - Key offerings
- 10.11 Vertical Roots
- Exhibit 126: Vertical Roots - Overview
- Exhibit 127: Vertical Roots - Product / Service
- Exhibit 128: Vertical Roots - Key offerings
- 10.12 Village Farms International Inc.
- Exhibit 129: Village Farms International Inc. - Overview
- Exhibit 130: Village Farms International Inc. - Business segments
- Exhibit 131: Village Farms International Inc. - Key news
- Exhibit 132: Village Farms International Inc. - Key offerings
- Exhibit 133: Village Farms International Inc. - Segment focus
11 Appendix
- 11.2 Inclusions and exclusions checklist
- Exhibit 134: Inclusions checklist
- Exhibit 135: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 136: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 137: Research methodology
- Exhibit 138: Validation techniques employed for market sizing
- Exhibit 139: Information sources
- 11.5 List of abbreviations
- Exhibit 140: List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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