Vertical Farming Market Size, Trends, Growth Analysis, and Forecast: Industry Overview, Key Technologies, Leading Players, and Emerging Opportunities

Global Vertical Farming Market Projected to Reach USD 25.14 Billion by 2030

The Global Vertical Farming Market size is experiencing remarkable growth, driven by technological advancements and the increasing demand for sustainable agricultural practices. According to recent industry analysis, the market was valued at USD 5.07 billion in 2023 and is projected to reach USD 25.14 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 25.7% during the forecast period.

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Competitive Landscape

The vertical farming industry is witnessing significant mergers and acquisitions as companies strive to enhance their technological capabilities and expand market presence. For instance, AeroFarms, a prominent player in the sector, filed for Chapter 11 bankruptcy protection in June 2023, citing "significant industry and capital market headwinds."

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Regional Insights

United States: Growth Opportunities in Vertical Farming

In the United States, the vertical farming market is experiencing substantial growth, driven by technological advancements and a growing demand for sustainable agricultural practices. The integration of advanced technologies such as LED lighting and automation has significantly enhanced the efficiency and productivity of vertical farms, making them a viable solution to meet the increasing demand for fresh produce.

Asia Pacific: Trends in Vertical Farming Adoption

The Asia Pacific region is witnessing a surge in the adoption of vertical farming practices, driven by rapid urbanization and the need for efficient land use. Countries like Japan and Singapore are at the forefront, implementing innovative vertical farming solutions to ensure food security and reduce dependency on imports. The emphasis on sustainable agriculture is propelling the demand for vertical farming systems in this region.

Middle East and Africa: Opportunities in Vertical Farming Expansion

The Middle East and Africa are exploring vertical farming as a solution to address challenges related to arable land scarcity and water shortages. The adoption of controlled-environment agriculture is gaining traction, with several projects underway to establish vertical farms that can operate efficiently in harsh climatic conditions. This approach is expected to enhance food production and contribute to regional food security.

Europe: Consolidation and Technological Upgradation in Vertical Farming

Europe's vertical farming market is undergoing consolidation, with companies focusing on technological advancements to improve efficiency and reduce operational costs. The emphasis on sustainable agriculture and the implementation of policies supporting innovative farming practices are driving the growth of vertical farming in the region. Collaborations between technology providers and agricultural firms are fostering the development of advanced vertical farming systems.

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Recent Developments and Mergers & Acquisitions

• United States: Dream Harvest, a Houston-based vertical farm company, announced an auction of $8 million in unused packing and harvesting equipment in January 2025. The sale includes advanced irrigation systems and LED lighting, reflecting the company's strategic asset divestiture.
• Global: Industry experts highlight the importance of long-term planning, efficient unit economics, and operational consistency for vertical farming companies to achieve profitability. The sector is anticipated to experience a wave of mergers and acquisitions as companies adapt to market dynamics and seek sustainable growth.

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