Top Companies in Vertical Farming Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research
Vertical Farming Market is expected to reach USD 18.8 Billion by the year 2030 at recorded CAGR (Compound Annual Market Growth) of 19.2% over the forecast period.
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Vantage Market Research has recently published a new report on the “Vertical Farming Market” Global Industry Assessment & Forecast to identify key trends and challenges. The report offers insights into the competitive landscape, prospects, and key investment considerations for businesses operating in the Vertical Farming Market. Some of the key statistics in this report highlight that Global Vertical Farming Market was valued at USD 5.5 Billion in 2022 and is expected to reach USD 18.8 Billion by the year 2030 at recorded CAGR (Compound Annual Market Growth) of 19.2% over the forecast period. The global Vertical Farming market will continue to expand due to rising demand from different end-user sectors, including retail, industrial, food services, and cosmetics, pharmaceuticals, and nutraceuticals industries.
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The global vertical farming market has been growing rapidly in recent years due to increasing demand for locally grown and pesticide-free produce. The market is dominated by a few major players, including AeroFarms, BrightFarms, Plenty, Bowery Farming, and Kalera.
These companies offer a variety of crops including, leafy greens, herbs, and berries, and use innovative techniques such as hydroponics and artificial lighting to maximize yield and minimize resource usage. Other notable companies in the vertical farming market include Infarm, Gotham Greens, Farm.One, Freight Farms, and CubicFarm Systems. With the growing popularity of sustainable and eco-friendly agriculture, the vertical farming market is expected to continue its growth trajectory in the upcoming years. To increase their hold in the global vertical farming market, these companies are employing various strategies, such as expanding their production capabilities, developing new technologies, and entering partnerships with other companies in the industry. Many of these companies are also focusing on research and development to improve their crop yields and reduce their environmental impact. They are investing heavily in advanced automation systems, artificial intelligence, and machine learning to optimize their operations and improve efficiency.
Let’s Take a Look at the Top Market Players that are Captivating the Vertical Farming Market
- AeroFarms (U.S.)
AeroFarms is a US-based vertical farming company with headquarters in Newark, New Jersey. The company is focused on developing sustainable agriculture solutions that enable local food production at scale. AeroFarms has a global presence, with facilities in the USA, UAE, Europe, and Asia. The company currently operates nine facilities, with plans to expand in the coming years. AeroFarms employs over 200 people across its global operations. The company is committed to reducing the environmental impact of agriculture and developing innovative farming technologies. The company has raised over $238 million in funding since its inception in 2004.
- BrightFarms Inc. (U.S.)
BrightFarms Inc., is a US-based vertical farming company with headquarters in Irvington, New York. The company operates a network of hydroponic greenhouses that supply fresh produce to grocery stores and retailers across the country. BrightFarms currently has facilities in Illinois, Ohio, Pennsylvania, and Virginia and plans to expand to new markets in the future. The company employs over 500 people across its operations. In 2020, BrightFarms raised $100 million in funding to support its growth plans.
- Plenty Unlimited Inc. (U.S.)
Plenty Unlimited Inc. is a US-based vertical farming company with headquarters in South San Francisco, California. The company operates a network of vertical farms that use advanced automation and machine learning technologies to grow fresh produce year-round. Plenty has a global presence, with facilities in the USA, Canada, and the Middle East. The company employs over 500 people across its operations. In 2021, Plenty announced plans to go public through a merger, raising over $1 billion in funding in the process.
- BOWERY FARMING INC. (U.S.)
Bowery Farming is a US-based vertical farming company with headquarters in New York, New York. The company uses proprietary software and advanced sensors to optimize plant growth and produce high-quality, pesticide-free crops. Bowery Farming currently operates several facilities in the USA and has plans to expand to new markets in the future. The company employs over 300 people across its operations. In 2021, Bowery Farming raised $300 million in funding to support its growth plans.
- Kalera Public Limited Company (U.S.)
Kalera is a US-based vertical farming company with headquarters in Orlando, Florida. The company operates a network of indoor farms that use hydroponic and aeroponic technologies to produce high-quality, locally grown produce. Kalera has a global presence, with facilities in the USA, Europe, and the Middle East. The company currently operates several facilities and has plans to expand to new markets in the future. Kalera employs over 200 people across its operations.
- Indoor Urban Farming GmbH (Germany)
Indoor Urban Farming GmbH (Infarm) is a German-based vertical farming company with headquarters in Berlin. The company designs and operates modular indoor farms that can be installed in grocery stores, restaurants, and other urban locations. Infarm has a global presence, with facilities in Europe, North America, and Asia. The company comprises over 1,000 people working across the globe. In 2021, Infarm raised $100 million in funding to support its growth plans.
- Gotham Greens (U.S.)
Gotham Greens is a US-based vertical farming company with headquarters in Brooklyn, New York. The company operates a network of hydroponic greenhouses that supply fresh produce to grocery stores and retailers across the country. Gotham Greens currently has facilities in several US cities, including New York, Chicago, and Baltimore, and plans to expand to new markets in the future. The company employs over 500 people across its operations. In 2021, Gotham Greens raised $87 million in funding to support its growth plans.
- Sky Greens (Singapore)
Sky Greens is a Singapore-based vertical farming company that operates a network of vertical farms in the city-state. The company uses a patented technology called "A-Go-Gro" to grow fresh produce using minimal resources. Sky Greens employs around 20 people across its operations. Sky Greens has bagged numerous awards for its sustainable farming practices and has been recognized as a leader in urban agriculture.
- Farm.One Inc. (U.S.)
Farm.One, Inc. is a US-based vertical farming company with headquarters in New York, New York. The company specializes in growing rare and exotic herbs and greens for high-end restaurants and chefs. Farm.One operates several indoor farms in the USA and has plans to expand to new markets in the future. The company employs around 20 people across its operations. In 2021, Farm.One raised $4.6 million in funding to support its growth plans.
- Vertical Harvest Farms (U.S.)
Vertical Harvest Farms is a US-based vertical farming company with headquarters in Jackson, Wyoming. The company operates a vertical farm in the town of Jackson that uses hydroponic technologies to grow fresh produce year-round. Vertical Harvest is focused on creating job opportunities for people with disabilities and has been recognized for its innovative social mission. The company employs around 30 people across its operations.
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