The global Vertical Farming Market size was estimated at USD 5.95 billion in 2022 and is expected to reach USD 30.15 billion in 2031. An old warehouse, a skyscraper, or a shipping container are just a few examples of places where vertical farming is practiced. Organic foods are thought to be more wholesome, safe, and environmentally friendly than conventional foods. Consumer food purchasing habits are a significant element influencing the demand for organic food, and producers, governments, and suppliers must take this into account to successfully implement marketing tactics.

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Top key players:

·         Ag Leader Technology (US),

·         Monsanto Company (Mexico),

·         Deere & Company (US),

·         CropMetrics LLC (Netherlands),

·         Trimble Navigation Limited (Australia),

·         CropX (US),

·         AgSmarts Inc (India),

·         AgSense, LLC (India),

·         AGCO Corporation (Austria),

·         DICKEY-john (U.K.),

·         Farmers Edge (US),

Market Growth

The preference of customers for organic products, a decline in the amount of arable land, and an increase in the demand for high-quality land are the main drivers of the worldwide vertical farming market. The forecasted rise of the worldwide vertical farming market would be further fueled by the increased crop production brought on by the rising population, consumers' growing health concerns, and rising urbanization. The use of much less water decreased exposure to pesticides and diseases, and the ability to produce more with less land under cultivation and immunity to weather are just a few of the amazing advantages that vertical farming offers

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Market segmentation:

Vertical Farming Market Size, Share & Trends Analysis Report By Offering, By Growing Mechanism, By Fruits, Vegetables & Herbs, By Structure (Shipping Container, Building-based), By Region, And Segment Forecasts, 2023 – 2031

Market Opportunities

The popularity of organic food products is rising as people's awareness of their health increases. Farmers all around the nation are switching to organic farming, as a result, improving the outlook for the market. A variety of projects are also being launched by the government to strengthen the nation's current agricultural infrastructure. In order to boost exports, it is also giving farmers financial aid for selling and shipping agricultural products.

Growing Mechanism Insight

Due to the significant usage of the aeroponics growth mechanism in vertical farming and its capacity for extensive planting, which is not offered by the other growth mechanisms, the aeroponics segment is anticipated to develop at a higher CAGR over the projected period. This method's low susceptibility to pests and diseases and friendliness to the environment also contribute to the market growth of this niche.

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