Vertical Farming Market Share

North American Market Forecast

The market share of vertical farming in North America, amongst the market in all the other regions, is projected to have the highest growth by the end of 2037, backed by growing demand for nutritional food, along with surge in investment in facilitating ecosystem for future food. The availability of freshly harvested veggies across retail outlets is anticipated to rise across the nation as consumer preferences shift towards "fresh-from-farm-to-table" products (which is also the pioneer in adopting this concept). Moreover, there has been population in this region which is demanding more food. However, with the growing demand for food, the scarcity of agriculture land is also growing which would further boost the demand for vertical farming in this region. Farmland is lost on average about 1,999 acres every day in US. The US lost approximately 2 million acres of agriculture in the year 2021 alone.

APAC Market Statistics

The Asia Pacific vertical farming market is estimated to be the second largest, to have the highest growth. In metropolitan areas of Asia Pacific, a new urban environment has recently arisen. Many megacities started initiatives to support the new ecosystem services, including transporting clean, fresh vegetables and offering the most efficient and sustainable food supply options in this region. One of the most important areas of concentration is energy sustainability research, which includes optimizing energy efficiency to satisfy the needs of citizens and businesses. One of agriculture's most remarkable innovations, indoor urban vertical farming (IUVF), is totally dedicated to supplying urban dwellers' food demands at the lowest possible environmental and energy costs in Asia Pacific region. Moreover, with the new features and technologies, vendors may draw in new clients and increase their presence in developing countries, propelling the Asia Pacific vertical farming market.

Europe Market Forecast

Additionally, the vertical farming market in Europe region is also estimated to have significant growth over the forecast period. Increasing use of automation and digitization in vertical farming would probably fuel market expansion in this region during the anticipated term. In vertical farming, automation and digitization decrease time, lower distribution and environmental costs, boost output, and standardize high quality. Moreover, agriculture is now driven by vertical farming, which has made the Internet of Things (IoT) into a mainstream technology in Europe region. The development of IoT has transformed the agricultural industry and accelerated market expansion in this region. Moreover, the vertical farming market has been expanding in many ways throughout Europe as a result of rising populations and per capita incomes, which have shifted customer tastes for healthier, organic, and environmentally friendly meals. Vertical farming market now have a number of new prospects owing to this in this region.