Global Vertical Farming Market to Reach $101.8 Bn by 2027: COVID Impact, Opportunities, Trends, and Forecast

Release Month: March 2021

Evolve Business Intelligence has published a new market research report on “The Global Vertical Farming market was valued at $ 18.75 billion in 2019 and is anticipated to grow at a CAGR of 23.6% from 2020 to 2027.”

For more information on the report:

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the vertical farming market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

In terms of COVID 19 impact, the vertical farming market report also includes the following data points:

  • COVID19 Impact on vertical farming market size
  • End-User/Industry/Application Trend, and Preferences
  • Government Policies/Regulatory Framework
  • Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
  • Opportunity in the vertical farming market

Analyst View

According to Lekha, Principal Analyst, Evolve Business Intelligence, “The COVID-19 pandemic has had a positive impact on the vertical farming market, The growth of the vertical farming market has become regionally variable, with some countries offering enormous growth potential while others are experiencing closures and low-profit margins.”

Competitive Scenario
Some of the major vertical farming players holding high market share include AeroFarms LLC, Sky Greens, Agrilution, American Hydroponics. These players use collaboration and expansion as a key strategy to gain significant market share to compete with market leaders.

Segmental Analysis
The vertical farming market is analyzed across the below-mentioned segments:

  • Growth Mechanism
    • Hydroponics
    • Aeroponics
    • Aquaponics
  • Component Type
    • Lighting
    • Sensor
    • Climate Control
    • Building Material
    • Irrigation Component
    • Others
  • Type of Crop
    • Tomatoes
    • Broccoli
    • Lettuce
    • Strawberries
    • Spinach
    • Others
  • Structure Type
    • Building Type Vertical Farms
    • Container Type Vertical Farms

Report Coverage
The study also contains a comprehensive value chain, as well as details on the key factors affecting the market growth (drivers, constraints, and opportunities). Furthermore, the report includes 10 key players in the vertical farming market ecosystem that have been strategically profiled, along with the market ranking/share for major players. Under the company profile section, the company’s core competencies have been comprehensively analyzed, along with detailing the competitive landscape for the market players, and the strategies such as partnerships and collaboration, acquisitions, product launches and developments, contracts, and business expansion adopted by them to grow in the market.

The key players profiled in the report are:

  • AeroFarms LLC
  • Sky Greens
  • Agrilution
  • American Hydroponics
  • Urban Crops
  • Vertical Farm Systems
  • Everlight Electronics Co., Ltd.
  • Hort Americas
  • 4D Bios Inc.
  • Signify

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Research Methodology
This research study makes substantial use of secondary sources, archives, and databases (such as annual reports, news releases, magazines, Trademap, company websites, and other paid databases) to classify and gather information valuable for this analysis. The entire process involves a review of top industry participants’ financial records. Following the determination of the overall market size, the total market was divided into several segments and sub-segments, and this information was then verified through key industry specialists such as CEOs, directors, VPs, and marketing executives.

Report Objectives

  • To define, describe, and forecast the vertical farming market, in terms of value, segmented based on indication, type, technology, and geography
  • To forecast the market size across 4 key regions—Asia Pacific (APAC), North America, Europe, and Rest of the World (RoW)
  • To provide detailed information regarding drivers, restraints, and opportunities, in the vertical farming market
  • To provide an overview of the value chain analysis about the vertical farming industry
  • To strategically analyze each segment and subsegment concerning individual overall growth trends and their contribution to the overall vertical farming market
  • To analyze opportunities in the market by identifying high-growth segments of the vertical farming market
  • To profile key players in the vertical farming market and comprehensively analyze their core competencies
  • To analyze competitive developments such as partnerships, product launches and developments, contracts, and mergers and acquisitions carried out in the global vertical farming market


About EvolveBI

Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.

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