Dublin, Aug. 29, 2023 (GLOBE NEWSWIRE) -- The "Vertical Farming Market Report 2023-2033" report has been added to ResearchAndMarkets.com's offering.
In the year 2023, the global revenue for the vertical farming market is projected to surpass an impressive US$6.1 billion, igniting anticipation for robust revenue growth until 2033. This comprehensive report delves into the domain, uncovering the organizations that harbor the greatest potential. By unraveling their capabilities, advancements, and commercial prospects, the report empowers you to remain at the forefront of the industry.
For leading firms with an eye on new revenue avenues, this report is an invaluable resource. It offers a deep understanding of the industry and its underlying dynamics, which can be leveraged for expansion into diverse sectors or regions.
Driving Forces of the Market
Numerous driving factors propel the vertical farming market:
- Increasing Population and Urbanization: As the global population swells and urban areas expand, the demand for efficient food production is on the rise.
- Sustainable Food Production: The need for sustainable and efficient food production methods is pushing the growth of vertical farming.
- Consumer Demand for Local Food: Consumers are increasingly demanding locally sourced and fresh produce due to health and environmental concerns.
Challenges to Address
While the vertical farming market is flourishing, it faces challenges:
- High Initial Investment: The costs associated with setting up vertical farming systems can be substantial.
- Energy Consumption and Costs: Vertical farming requires energy-intensive lighting and climate control systems, leading to operational costs.
- Limited Crop Variety and Scalability: Not all crops can be effectively grown in vertical farming systems, and scalability remains a challenge.
Seizing Opportunities
Opportunities abound in the vertical farming market:
- Technological Advancements: Innovations and automation are driving the efficiency and effectiveness of vertical farming systems.
- Commercial and Residential Integration: The integration of vertical farming in both commercial and residential buildings is opening new avenues.
- Collaboration with Retailers: Partnerships with retailers and food service providers enhance market growth.
Local Produce Demand Spurs Growth
The preference for locally grown and fresh produce is a major driver in the vertical farming market. Consumer awareness about environmental concerns related to long-distance food transportation is pushing for sustainable alternatives. Vertical farming, situated in urban areas near consumers, supports the supply of fresher, healthier produce, reducing the reliance on imported goods and fostering the "farm-to-table" concept.
Food Security Concerns Propel the Market
As the global population swells, ensuring food security becomes paramount. Vertical farming offers a controlled environment unaffected by external factors, addressing issues like weather and climate change. Its ability to yield high volumes in limited space positions it as an attractive complement to traditional agriculture, especially in regions prone to food shortages.
Diverse Segments Covered in the Report
The report delves into various segments of the vertical farming market, including components, types, services, and hardware. It provides detailed revenue predictions for global and regional markets, as well as individual market forecasts for leading national economies in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Leading Companies in Focus
Profiles of leading companies in the vertical farming market are included in the report. These profiles shed light on the operations of companies such as AeroFarms, Bowery Farming, BrightFarms, and more. Gain insights into their strategies and contributions to the industry.
In conclusion, this comprehensive report arms you with critical insights:
- Revenue forecasts until 2033 for the vertical farming market on a global and regional level, predicting prospects for components, types, services, and hardware.
- Revenue projections until 2033 for four regional and 20 major national markets, offering insights into the market's potential across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
- In-depth company profiles of 15 major players in the vertical farming market, empowering both established firms and newcomers to the market with essential business intelligence.
Key Topics Covered
1 Report Overview
2 Executive Summary
3 Market Overview
4 Vertical Farming Market Analysis by Component
5 Vertical Farming Market Analysis by Type
6 Vertical Farming Market Analysis by Services
7 Vertical Farming Market Analysis by Hardware
8 Vertical Farming Market Analysis by Region
9 North America Vertical Farming Market Analysis
10 Europe Vertical Farming Market Analysis
11 Asia-Pacific Vertical Farming Market Analysis
12 Middle East & Africa Vertical Farming Market Analysis
13 Latin America Vertical Farming Market Analysis
14 Company Profiles
15 Conclusion and Recommendations
Companies Mentioned
- AeroFarms
- Bowery Farming
- BrightFarms
- Farm.One
- Freight Farms
- Gotham Greens
- Infarm
- OSRAM Licht AG
- Plenty
- Signify Holding B.V
- Sky Greens
- SPREAD Co Ltd
- Urban Crop Solutions
- Valoya
- Vertical Harvest
- AeroFarms
- Agricool
- Bowery Farming
- BrightFarms
- Crop One Holdings
- CubicFarms
- FarmedHere
- Farmshelf
- Fifth Season
- Freight Farms
- Gotham Greens
- Green Sense Farms
- Green Spirit Farms
- GrowUp Urban Farms
- Infarm
- Indoor Harvest Corp
- Indoor Farms of America
- Iron Ox
- Jones Food Company
- Lettuce Grow
- Local Roots Farms
- Plenty
- PodPonics
- Pure Harvest Smart Farms
- Revol Greens
- Rooftop Republic
- Square Roots
- Spread Co.
- Sundrop Farms
- Sustainable Harvesters
- Tanimura & Antle
- TerViva
- The Farmery
- Urban Crops
- Urban Oasis
- Vertical Harvest
- Vertical Roots
- VividGro
- WaterFarmers
- ZipGrow
For more information about this report visit https://www.researchandmarkets.com/r/81rczp
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