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Global vertical farming market projection 2019 & 2025

The global vertical farming market has been steadily growing over the last years as population sizes increase and living in urban cities become more popular. In 2019, the vertical farming market reached some 4.4 billion U.S. dollars , but the market value is expected to increase to 15.7 billion U.S. dollars by 2025. Being able to use vertical space and reducing the need for additional land and construction activity contributes to the appeal of vertical farming in large cities. Demand for vertical farming is expected to increase largely due to the popularity of organic food.

Farming, how?

Vertical farming occurs in a closed environment where plants are grown on shelves to minimize the space required for growth. Crops and medicinal plants can be grown in stacked layers in skyscrapers, warehouses, or shipping containers, among other receptacles. Vertical farming pushes away reliance on weather, skilled labor, and high soil fertility and water consumption. It allows for a more consistent and reliable yield throughout the year and minimizes the chance of negative external effects such as disease or pests. Monitoring technologies are also available to track plant growth and harvesting. However, as many vertical farming technologies are still in their infancy, this could contribute to negative market growth. The vertical farming market is most prominent in the Asia Pacific region and North America.

Projected vertical farming market worldwide in 2019 and 2025

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Source

Release date

January 2020

Region

Worldwide

Survey time period

2020

Special properties

Hydroponics, Aeroponics, Others, etc

Supplementary notes

* Forecast based on a CAGR of 37.8 percent between 2020 and 2025.

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