North America Vertical Farming Market Value - By Growth Mechanism (Hydroponics, Aeroponics, Aquaponics), By Structure (Shipping Containers, Building Based), By Type (Bio pesticides, Bio fertilizer, Bio stimulants), By Crop Type (Leafy Green, Pollinated Plants, Nutraceutical Plant), By Application (Indoor, Outdoor), By Component (Lighting, Hydroponic Component, Climate Control, Sensors), and By Industry Analysis, Market Size, Share & Forecast, 2023 – 2032

MVI Statistics and Viewpoints:

• North America Vertical Farming Market size exceeded USD XX Billion in 2022. 
• The market is expected to showcase a CAGR of over 22.7% from 2023 to 2032. 
• By the end of the forecast period, the market is anticipated to reach a valuation of around USD XX Billion.

Manufacturers in the North America vertical farming market are leading the charge in redefining modern agriculture. With a commitment to sustainability and food security, companies like AeroFarms, Plenty, and Bowery Farming are pioneering innovative solutions. These manufacturers employ advanced vertical farming techniques, including controlled environments, precision automation, and hydroponic systems, to produce crops efficiently and sustainably. 

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Market Overview:

The North America market is a rapidly expanding segment of the agricultural industry, distinguished by the adoption of innovative farming techniques that use vertical space to grow crops in controlled indoor environments. Vertical farming is a soil-free and resource-efficient method of growing crops in stacked layers or vertically inclined surfaces using hydroponic, aeroponic, or aquaponic systems.

The vertical farming industry in North America has grown significantly as a result of several key factors. Firstly, the region is dealing with rising demand for fresh, locally grown produce as well as the need for food security. Vertical farming, with its ability to produce crops year-round in urban areas, provides a sustainable solution to meet these demands while reducing reliance on long-distance food supply chains.

The North American vertical farming market is expanding rapidly as it provides a sustainable and technologically driven solution to food security, urbanisation, and environmental challenges. Vertical farming's ability to produce high-quality, locally sourced crops year round with minimal water usage and a low carbon footprint positions it as an important contributor to the region's agricultural future. As vertical farming technologies advance and consumer demand for locally grown, fresh produce grows, the market's expansion is expected to further revolutionise North America's agriculture industry.

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Drivers:

• Land Scarcity and Urbanization: As North America's population has grown, agricultural land has been converted into urban developments. Traditional agriculture faces a challenge as arable land availability decreases. Vertical farming offers a viable solution by growing crops vertically in unused urban spaces such as warehouses, rooftops, and shipping containers, reducing reliance on traditional farmland and bringing agriculture closer to urban consumers.
   
• Growing Startups and Industry Players: The North American vertical farming industry is experiencing a surge in startups and established industry players, which is fostering competition and driving advancements in technology and farming practises. This growing interest and investment in vertical farming contributes to the market's regional expansion and adoption.
   
• Water Scarcity and Resource Efficiency: Vertical farming uses hydroponic, aeroponic, or aquaponic systems, which use far less water than traditional soil-based agriculture. This resource-efficient approach to water usage addresses water scarcity issues and contributes to sustainable farming practises, particularly in North America's water-stressed regions.

Restraints:

• High Initial Investment and Operating Costs: A vertical farm requires a significant initial capital investment in infrastructure, technology, and specialised equipment, such as lighting systems, climate control systems, and hydroponic or aeroponic setups. Furthermore, the operating costs for electricity, water, and maintenance, particularly for larger vertical farming facilities, can be relatively high. These high costs may deter some potential investors or farmers, especially small-scale operators with limited financial resources.

By Growth Mechanism Synopsys:                      

The market is classified by growth mechanism into hydroponics, aeroponics, aquaponics. Among these segments, the hydroponics segment is expected to hold the largest share of the North America market during the forecast period. Because of its simplicity, versatility, and track record of successful crop cultivation, hydroponics has been well-established and widely adopted in vertical farming operations. Hydroponics is a preferred choice for many vertical farming operators due to its efficient use of water and nutrients, as well as higher yields and faster growth rates.

By Structure Synopsys:

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The market is classified by structure into shipping containers, building based. Among these segments, the building based segment is expected to hold the largest share of the North America market during the forecast period. Building-based vertical farms are preferred over shipping container farms due to their scalability and ability to support higher production volumes. They can accommodate more crops, provide greater crop selection flexibility, and are well-suited to meeting the needs of a broader consumer base. Furthermore, building-based vertical farms can achieve economies of scale, increasing cost-effectiveness and profitability for commercial vertical farming operations.

Recent Development:

• In May 2023, AeroFarms has announced the expansion of its collaboration with Amazon Fresh.

Top Companies Includes In The North America Vertical Farming Landscape:

• AeroFarms
• Plenty Unlimited Inc.
• Bowery Farming Inc.
• BrightFarms Inc.
• Farm.One
• Gotham Greens
• Lufa Farms
• Vertical Harvest
• 80 Acres Farms
• Local Roots Farms
• Eden Green Technology
• Kalera
• Square Roots
• Freight Farms
• Agricool
• Other

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In-depth analysis of North America Vertical Farming Market along with industry coverage and forecasting for the following segments:

Market Size, By Growth Mechanism

• Hydroponics
• Aeroponics
• Aquaponics

Market Size, By Structure

• Shipping Containers
• Building Based

Market Size, By Type

• Bio pesticides
• Bio fertilizer
• Bio stimulants

Market Size, By Crop Type

• Leafy Green
• Pollinated Plants
• Nutraceutical Plant

Market Size, By Application

• Indoor
• Outdoor

Market Size, By Component

• Lighting
• Hydroponic Component
• Climate Control
• Sensors