North America Vertical Farming Market by Type, Growth Mechanism, Crop Type, Application– Industry Trends and Forecast (2024-2030)

The North America Vertical Farming Market was valued at USD 1.5 billion in 2023 and is expected to grow to USD 12.01 billion by 2030, representing a compound annual growth rate (CAGR) of 29.7% during the forecast period.

North America Vertical Farming Market Overview:

The North America Vertical Farming Market is undergoing significant expansion, propelled by a convergence of factors reshaping agriculture and food production. This innovative method involves cultivating crops in vertically stacked layers, typically within controlled environments, using artificial lighting and climate control. Currently, the Vertical Farming market witnesses heightened interest due to a combination of factors such as growing urbanization, limited arable land availability, increasing population, climate change challenges, and a rising demand for locally sourced fresh produce. The region is witnessing substantial investments in vertical farming technologies, infrastructure, and research initiatives aimed at enhancing crop yield, quality, and sustainability while minimizing environmental impact. Players like AeroFarms, a key industry leader, have made remarkable strides by developing cutting-edge vertical farming systems utilizing aeroponic techniques, resulting in significantly higher crop yields while reducing water consumption. Furthermore, Plenty, another prominent player, has expanded its operations and technological innovations, utilizing machine learning and data analytics to optimize crop growth conditions and improve overall efficiency. These developments underscore the industry's commitment to revolutionizing traditional agriculture, addressing food security concerns, and creating a more sustainable future by transforming the landscape of farming in North America. The North America Vertical Farming Market, amidst ongoing technological advancements and increasing investments, is poised for continued growth, revolutionizing the way fresh produce is cultivated and supplied to meet the demands of a rapidly evolving world.North America Vertical Farming MarketTo know about the Research Methodology :- Request Free Sample Report

North America Vertical Farming Market Dynamics:

Government Backing and Investment Catalysts Fueling North America's Vertical Farming Expansion The North America Vertical Farming Market is experiencing a remarkable surge driven by multifaceted factors reshaping the agricultural landscape. This innovative cultivation approach involves growing crops in vertically stacked layers within controlled environments, a method that holds immense promise in addressing several challenges facing traditional farming practices. The market's current trajectory is defined by a convergence of influences, chief among them being the escalating urbanization across North America. As cities expand and arable land becomes increasingly limited, the vertical farming market emerges as a beacon of agricultural revolution, efficiently utilizing urban spaces to cultivate fresh produce. Bowery Farming, a prominent player in this market, epitomizes this trend by employing vertical farming techniques within urban settings, maximizing constrained spaces and ensuring a consistent supply of locally grown, high-quality produce to meet the demands of urban consumers on North America Vertical Farming Market. Sustainability stands as a key pillar propelling the growth of the North America Vertical Farming Market. With heightened concerns about environmental impact and resource conservation, vertical farming emerges as an eco-friendly alternative to conventional agriculture. Gotham Greens, leveraging hydroponic systems in their urban greenhouse facilities, signifies this sustainability ethos by conserving water and eliminating pesticides from their produce, aligning with the growing consumer preference for sustainable and environmentally friendly agricultural practices North America Vertical Farming Market. Moreover, the evolving climate patterns due to climate change have underscored the importance of climate-controlled environments in agriculture. Crop One Holdings' controlled-environment agriculture ensures stable year-round crop growth irrespective of external climate shifts, contributing to food security by providing consistent produce supplies regardless of weather fluctuations, thus shaping the North America Vertical Farming Market response to climate challenges. Consumer preferences have also played a pivotal role in steering the North America Vertical Farming Market dynamics. The demand for fresh, locally sourced produce is witnessing a significant upsurge, driving the adoption of vertical farming practices. BrightFarms, operating urban greenhouse farms in proximity to major cities, exemplifies this trend by delivering freshly harvested salad greens to nearby retailers within a day, catering to consumers' desires for high-quality, locally grown produce. Technological advancements remain a cornerstone of growth in this North America Vertical Farming Market. Innovations in vertical farming technologies, such as AI-driven systems deployed by Plenty, optimize plant growth conditions by providing precise environmental control, maximizing productivity and yield. This emphasis on technology underscores the North America market commitment to enhancing efficiency and sustainability through innovative solutions. Moreover, growing concerns about food security are amplifying the importance of vertical farming. AeroFarms' implementation of vertical farming systems in urban areas showcases its commitment to food security by producing leafy greens with significantly less water usage compared to traditional farming methods, addressing food security concerns and ensuring reliable food supplies. Additionally, health and nutrition awareness are driving consumers towards fresher and healthier produce options. Square Roots, utilizing vertical farming techniques for herb cultivation without synthetic pesticides, meets the rising demand for locally sourced, healthy ingredients, aligning with consumer preferences for sustainable and nutritious food choices. Government support, increased investment, and changing consumer preferences collectively define the growth landscape of the North America Vertical Farming Market. Incentives and support from governments encourage sustainable agricultural practices like indoor farming, fostering North America Vertical Farming Market. Furthermore, the influx of investments and funding into vertical farming startups like Iron Ox signifies the North America Vertical Farming Market potential for sustainable food production, attracting investors and driving innovation within the industry. Local Roots Farms' use of shipping containers for vertical farming to provide organic produce year-round caters to evolving consumer preferences for sustainable, locally sourced food options. This synergy between government support, investments, and evolving consumer demands solidifies the North America market growth trajectory, positioning vertical farming as a significant force reshaping the future of agriculture in North America. Space Constraints in Vertical Farming Limits Containerized Systems in the North America's Vertical Farming Market The industry demands a substantial initial investment, hindering potential market entrants and smaller players due to the high costs involved in setting up vertical farms. For instance, Plenty, a successful player in the market, invested significantly in infrastructure and technology to establish its vertical farming operations, highlighting the financial barrier for newcomers. Additionally, the vertical farming sector faces the challenge of soaring energy costs, especially in lighting and climate control systems, impacting operational expenses. AeroFarms, a prominent player, grapples with substantial energy expenditures attributed to its vertically stacked growing systems, affecting both profitability and sustainability. The complexity of implementing and managing sophisticated technology within vertical farms presents another hurdle. Gotham Greens, known for its advanced hydroponic systems, deals with ongoing challenges in effectively maintaining and managing these intricate technologies. Moreover, the limited variety of crops suitable for vertical farming restricts product diversification. BrightFarms, focusing predominantly on leafy greens due to their vertical growth suitability, confronts limitations in expanding its product range and market outreach. Consistently maintaining crop yields and operational efficiency remains an ongoing challenge in vertical farming. Despite the success of Crop One Holdings in climate-controlled agriculture, optimizing production efficiency and reducing operational costs persist as challenges. Additionally, scaling up vertical farming operations without compromising quality poses complexities. Bowery Farming, expanding its network, must ensure quality consistency across multiple facilities, presenting operational challenges in maintaining standards. Space limitations also constrain the potential expansion of vertical farming operations. Square Roots, operating within shipping containers, faces challenges in scaling up production due to spatial limitations inherent in their setup. Furthermore, concerns about the environmental impact of high energy consumption in vertical farming technologies pose sustainability challenges. Iron Ox, recognized for its robotic farming systems, confronts criticisms regarding the environmental footprint of such high-tech farming methods. Regulatory hurdles concerning food safety, labeling, and agricultural practices add complexities for vertical farms. Local Roots Farms, operating in shipping containers, navigates regulatory complexities while innovating within a unique growing environment. Consumer perception and pricing sensitivities pose challenges despite offering high-quality produce. Convincing consumers to choose vertically farmed products over traditionally grown produce due to perceived pricing differences remains an ongoing challenge for players like Plenty. Indoor Precision Farming Optimizing Cultivation in North America's Vertical Farming Market The North America Vertical Farming Market stands at the forefront of agricultural innovation, presenting a myriad of growth opportunities reshaping the future of sustainable food production. Within this dynamic market, the adoption of bio-based solutions—bio pesticides, bio fertilizers, and bio stimulants—emerges as a pivotal avenue for growth. By embracing these environmentally friendly alternatives, industry players like Plenty exemplify the market's commitment to eco-conscious farming practices, meeting the increasing consumer demand for pesticide-free produce and driving the expansion of the North America market. Moreover, the evolution of growth mechanisms—hydroponics, aeroponics, and aquaponics—represents a key aspect propelling market growth. Hydroponic systems, exemplified by AeroFarms' proficiency, showcase the potential for water-efficient cultivation, resonating within the North America Vertical Farming Market's emphasis on sustainability and resource conservation. Concurrently, aeroponics and aquaponics present innovative growth avenues due to their water-saving capabilities and symbiotic ecosystems. Industry pioneers, like Gotham Greens integrating advanced hydroponics, underscore the market's potential for sustainable growth and technological evolution. Diversification within crop cultivation remains instrumental in expanding the North America Vertical Farming Market. The focus on diverse crop types—leafy greens, pollinated plants, and nutraceutical plants—signals opportunities for market expansion. Companies such as BrightFarms strategically concentrating on leafy greens highlight consumer demand trends and growth potential within this segment of the North America mrket. The optimization of indoor cultivation techniques represents a defining growth opportunity. Bowery Farming's success in controlled indoor environments showcases scalability and market potential in providing fresh, locally grown produce year-round within the North America market. Simultaneously, exploring opportunities in outdoor vertical farming, although limited due to space constraints, presents growth avenues in certain climates. Adapting solutions for larger-scale cultivation, as witnessed in specific regions, aligns with the North America market's quest for scalability and market penetration. Integrating cutting-edge technology remains pivotal in driving efficiency within the North America Vertical Farming Market. Innovations in AI-driven systems and data analytics, akin to Plenty's strategies, not only optimize farming processes but also enhance yield and quality. Such technological integration signifies the market's potential for growth through increased efficiency and productivity. Sustainability remains a cornerstone driving market expansion. The emphasis on environmentally friendly practices, like those adopted by Gotham Greens through advanced hydroponics, aligns with consumer preferences for eco-conscious products, paving the way for further growth within the North America Vertical Farming Market. Education and awareness initiatives about the benefits of vertical farming serve as catalysts for market growth. Educating stakeholders and consumers on advantages such as reduced environmental impact, akin to Square Roots' focus on medicinal herbs, fosters awareness and stimulates growth opportunities within the North America market.

North America Vertical Farming Market Scope: Inquiry Before Buying

North America Vertical Farming Market
Report Coverage Details
Base Year: 2023 Forecast Period: 2024-2030
Historical Data: 2018 to 2023 Market Size in 2023: US $ 1.5 Bn.
Forecast Period 2024 to 2030 CAGR: 29.7% Market Size in 2030: US $ 12.01 Bn.
Segments Covered: by Type Bio pesticides Bio fertilizer Bio stimulants
by Growth mechanism Hydroponics Aeroponics Aquaponics
by Crop Type Leafy Green Pollinated Plants Nutraceutical Plant
by Application Indoor Outdoor

North America Vertical Farming Market Leading Key Players:

1. AeroFarms (United States) 2. Plenty Unlimited Inc. (United States) 3. Bowery Farming (United States) 4. BrightFarms (United States) 5. Vertical Harvest (United States) 6. Gotham Greens (United States) 7. Sqare Roots (United States) 8. 80 Acres Farms (United States) 9. Local Roots Farms (United States) 10. AppHarvest (United States) 11. Kalera (United States) 12. Revol Greens (United States) 13. Pure Green Farms (Canada) 14. Lufa Farms (Canada) 15. Vertical Roots (United States)

FAQ:

1] What segments are covered in the North America Vertical Farming Market report? Ans. The segments covered in the North America market report are based on Type, Growth mechanism, Crop type, and Application. 2] Which Country is expected to hold the highest share in the North America Vertical Farming Market? Ans. The United States is expected to hold the highest share in the North America market. 3] What is the market size of the North America Vertical Farming Market by 2030? Ans. The market size of the North America market by 2030 is expected to reach USD 12.01 Billion. 4] Who are the top key players in the North America Vertical Farming Market? Ans. AeroFarms (United States), Plenty Unlimited Inc. (United States), Bowery Farming (United States), BrightFarms (United States) are the top key players in the North America market 5] What was the market size of the North America Vertical Farming Market in 2023? Ans. The market size of the North America market in 2023 was valued at USD 1.5 Billion.
1. North America Vertical Farming Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. North America Vertical Farming Market: Dynamics 2.1. Market Trends 2.2. Market Dynamics 2.2.1.1. Drivers 2.2.1.2. Restraints 2.2.1.3. Opportunities 2.2.1.4. Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Value Chain Analysis 2.6. Technological Roadmap 2.7. Regulatory Landscape 2.8. Analysis of Government Schemes and Initiatives for Vertical Farming Industry 2.9. Key Opinion Leader Analysis 2.10. The Pandemic Impact on North America Vertical Farming Market 3. North America North America Vertical Farming Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030) 3.1. North America North America Vertical Farming Market Size and Forecast, By Type (2023-2030) 3.1.1. Bio pesticides 3.1.2. Bio fertilizer 3.1.3. Bio stimulants 3.2. North America North America Vertical Farming Market Size and Forecast, By Growth mechanism (2023-2030) 3.2.1. Hydroponics 3.2.2. Aeroponics 3.2.3. Aquaponics 3.3. North America North America Vertical Farming Market Size and Forecast, By Crop Type (2023-2030) 3.3.1. Leafy Green 3.3.2. Pollinated Plants 3.3.3. Nutraceutical Plant 3.4. North America North America Vertical Farming Market Size and Forecast, By Application (2023-2030) 3.4.1. Passenger Cars 3.4.2. Commercial Vehicles 3.5. North America North America Vertical Farming Market Size and Forecast, by Country (2023-2030) 3.5.1. United States 3.5.1.1. United States North America Vertical Farming Market Size and Forecast, By Type (2023-2030) 3.5.1.1.1. Bio pesticides 3.5.1.1.2. Bio fertilizer 3.5.1.1.3. Bio stimulants 3.5.1.2. United States Vertical Farming Market Size and Forecast, By Growth mechanism (2023-2030) 3.5.1.2.1. Hydroponics 3.5.1.2.2. Aeroponics 3.5.1.2.3. Aquaponics 3.5.1.3. United States Vertical Farming Market Size and Forecast, By Crop Type (2023-2030) 3.5.1.3.1. Leafy Green 3.5.1.3.2. Pollinated Plants 3.5.1.3.3. Nutraceutical Plant 3.5.1.4. United States Vertical Farming Market Size and Forecast, By Application (2023-2030) 3.5.1.4.1. Indoor 3.5.1.4.2. Outdoor 3.5.2. Canada 3.5.2.1. Canada Vertical Farming Market Size and Forecast, By Type (2023-2030) 3.5.2.1.1. Bio pesticides 3.5.2.1.2. Bio fertilizer 3.5.2.1.3. Bio stimulants 3.5.2.2. Canada Vertical Farming Market Size and Forecast, By Growth Mechanism (2023-2030) 3.5.2.2.1. Hydroponics 3.5.2.2.2. Aeroponics 3.5.2.2.3. Aquaponics 3.5.2.3. Canada Vertical Farming Market Size and Forecast, By Crop Type (2023-2030) 3.5.2.3.1. Leafy Green 3.5.2.3.2. Pollinated Plants 3.5.2.3.3. Nutraceutical Plant 3.5.2.4. Canada Vertical Farming Market Size and Forecast, By Application (2023-2030) 3.5.2.4.1. Indoor 3.5.2.4.2. Outdoor 3.5.3. Mexico 3.5.3.1. Mexico Vertical Farming Market Size and Forecast, By Type (2023-2030) 3.5.3.1.1. Bio pesticides 3.5.3.1.2. Bio fertilizer 3.5.3.1.3. Bio stimulants 3.5.3.2. Mexico Vertical Farming Market Size and Forecast, By Growth mechanism (2023-2030) 3.5.3.2.1. Hydroponics 3.5.3.2.2. Aeroponics 3.5.3.2.3. Aquaponics 3.5.3.3. Mexico Vertical Farming Market Size and Forecast, By Crop Type (2023-2030) 3.5.3.3.1. Leafy Green 3.5.3.3.2. Pollinated Plants 3.5.3.3.3. Nutraceutical Plant 3.5.3.4. Mexico Vertical Farming Market Size and Forecast, By Application (2023-2030) 3.5.3.4.1. Indoor 3.5.3.4.2. Outdoor 4. North America Vertical Farming Market: Competitive Landscape 4.1. MMR Competition Matrix 4.2. Competitive Landscape 4.3. Key Players Benchmarking 4.3.1. Company Name 4.3.2. Product Segment 4.3.3. End User Segment 4.3.4. Revenue (2023) 4.3.5. Manufacturing Locations 4.4. Leading North America Vertical Farming Market Companies, by Market Capitalization 4.5. Market Structure 4.5.1. Market Leaders 4.5.2. Market Followers 4.5.3. Emerging Players 4.6. Mergers and Acquisitions Details 5. Company Profile: Key Players 5.1. AeroFarms (United States) 5.1.1. Company Overview 5.1.2. Business Portfolio 5.1.3. Financial Overview 5.1.4. SWOT Analysis 5.1.5. Strategic Analysis 5.1.6. Recent Developments 5.2. Plenty Unlimited Inc. (United States) 5.3. Bowery Farming (United States) 5.4. BrightFarms (United States) 5.5. Vertical Harvest (United States) 5.6. Gotham Greens (United States) 5.7. Sqare Roots (United States) 5.8. 80 Acres Farms (United States) 5.9. Local Roots Farms (United States) 5.10. AppHarvest (United States) 5.11. Kalera (United States) 5.12. Revol Greens (United States) 5.13. Pure Green Farms (Canada) 5.14. Lufa Farms (Canada) 5.15. Vertical Roots (United States) 6. Key Findings 7. Industry Recommendations 8. North America Vertical Farming Market: Research Methodology

About This Report

Report ID 21763
Category Agriculture
Published Date September 2019
Updated Date Aug 2020
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