The vertical farming crops market was valued at US$ 239.90 million in 2019 and is projected to reach US$ 1,021.33 million by 2027; it is expected to grow at a CAGR of 20.0% from 2019 to 2027.Vertical farming is mainly the production of plants grown in vertical layers, stacked horizontal, or other three-dimensional configurations.
An increase in demand for new, locally grown, and pesticide-free produce and limited availability of arable land for traditional agriculture have boosted the demand for vertical farming crops across the world.The leafy greens segment accounted for the largest market share in 2019, and the herbs segment is expected to register the highest CAGR in the market during the forecast period.
The increasing investment in research of indoor cultivation of leafy greens is offering lucrative opportunities for the market growth.Based on region, the vertical farming crops market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Vertical Farming Market – Key Market Dynamics5.1 Market Drivers5.1.1 Rise in Demand for Fresh, Pesticide-Free, and Locally Grown Produce5.1.2 Limited Availability of Arable Land for Conventional Agriculture5.2 Market Restraints5.2.1 High Initial Investment5.3 Market Opportunities5.3.1 Increasing Demand for Vertical Farming in Highly Populated Urban Regions5.4 Future Trends5.4.1 AI-Controlled Vertical Farms5.5 Impact Analysis of Drivers and Restraints6.