North America Vertical Farming Market Trends, Size, Segment and Growth by Forecast to 2030

The North America vertical farming market is projected to grow from US$ 1,469.4 million in 2021 to US$ 6,523.6 million by 2028, with a CAGR of 25.70%. This growth is driven by the increasing popularity of organic food and the numerous benefits of vertical farming, such as higher production rates and reduced land and water use. Vertical farming offers consistent crop production, independent of weather conditions, and uses up to 99% less land and 98% less water compared to conventional farming. The rise of AI-powered technologies and sustainable practices, including water recycling and farming in unconventional locations like skyscrapers and shipping containers, further supports market expansion.

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However, high initial investments and maintenance costs may pose challenges to market growth. The COVID-19 pandemic led to production slowdowns and disrupted supply chains, but recovery efforts, including vaccinations and the resumption of activities, have helped the market regain momentum. Increasing demand for fresh, local, and organic produce, especially in urban areas, is expected to boost the vertical farming market in the coming years.

Market Introduction

Vertical farming is one of the modern farming practices, wherein the plants are cultivated in a closed environment without the use of soil. Crops are grown in an artificial condition, where atmospheric parameters, such as temperature, humidity, and lights, are controlled. Nutrients required for the growth of plants are integrated in water and are circulated or sprayed on the roots of the plants. The vertical farming consists of three techniques that are hydroponics, aquaponics, and aeroponics. Moreover, with the advancement in technologies, vertical farming operators are now deploying AI and IoT systems in farms for improving the overall efficiency of various operations.

North America Vertical Farming Strategic Insights

Strategic insights for the North America Vertical Farming provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Vertical Farming Report Scope

North America Vertical Farming Regional Insights

The geographic scope of the North America Vertical Farming refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Key Market Segments

Based on type, the North America vertical farming market is segmented into hydroponics, aeroponics, and aquaponics. The hydroponics segment led the highest share of the vertical farming market in 2021, however, the aeroponics segment is expected to account the largest share of the market by 2021-2028.

Based on component, the North America vertical farming market is bifurcated into lighting, sensor, climate control, irrigation component, building material, and others. In 2021, the lighting segment is likely to hold the largest share of the market, however climate control is expected to grow at the fastest rate during the coming years.

Major Sources and Companies Listed

A few of the primary and secondary sources associated with this report on the North America vertical farming market are the World Health Organization (WHO) and US Department of Agriculture (USDA).

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• Channelize resources by focusing on the ongoing programs undertaken by the different countries within the North America vertical farming market.

NORTH AMERICA VERTICAL FARMING MARKET SEGMENTATION

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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights

Author: Akshay patil