The vertical farming market is projected to reach USD 7.6 billion by 2025 from USD 3.2 billion in 2020; it is expected to grow at a CAGR of 20.4% during the forecast period.
Major Players In the market is Sky Vegetables, Vertical Harvest, Garden Fresh Farms, Alegria Fresh, Urban Crops, FarmedHere, Home Town Farms, Gotham Greens, Uriah’s Urban Farms, Greener Roots Farm, Sundrop Farms, Metro Farms, Infinite Harvest, Farmbox, Indoor Harvest, AeroFarms, Lufa Farms, Green Sense Farms, Ecopia Farms, Beijing IEDA Protected Horticulture, TruLeaf and Green Spirit Farms.
July 2020-Born from the creative minds of a group of women in Jackson Hole, Vertical Harvest became the first vertical greenhouse in the United States. In the last four years, Vertical Harvest has perfected the urban farm model and will bring their second location to Westbrook, Maine. The project will start construction in 2021 in partnership with the City of Westbrook. Vertical farming is a growing industry that uses environmentally sound practices to produce nutrient-dense food grown locally year-round, and yields more crops per-square-foot than traditional farming. Vertical Harvest has a company mission to grow both food and futures.
The market segmentation of vertical farming crop market divided on the types, application and region. By type it included Aeroponics, hydroponics and Aquaponics. By application it consists of Vegetables, flowers and Plants. The regional segmentation of the market includes North America, Europe, Asia-Pacific, and LAMEA. The European vertical farming market is expected to grow at the highest CAGR during the forecast period, owing to growth in concern over availability of water in certain parts, majorly in central and southern regions, rise in demand of organic food, and requirement of ensuring urban food security.