Europe Vertical Farming Market - Industry Analysis and Forecast (2024-2030) by Technology, Application, Type, and Region.

Europe Vertical Farming Market Dynamics:

The main driver of the European Vertical Agricultural Market is the increasing vertical demand for organic foods and foods that are free of pesticides and genetically modified organisms (GMOs). The usefulness of artificial lighting to improve plant yield, health and growth, and the reduced reliance on the weather for production are driving the market from the producer side. Growth in bio pharmacy production is another major driver of market growth. Europe has become very popular with the introduction of vertical farming. Europe is an emerging market and advanced technology is being developed in the region. Vertical farming is a method of processing food in vertically stacked layers such as skyscrapers, second-hand factories, and shipping containers. Indoor farming and controlled environmental farming (CEA) technology are used in the concept of modern vertical farming, which can manage all environmental conditions. These major factors are propelling the growth of the market.

The limited variety of crops used in vertical farming creates economic reliability that impedes the growth of the vertical farming market. Moisture creates a suitable environment for the growth of human and plant pathogens. The airflow system delivers CO2 for plant respiration and removes excess water. Vertical farming on a horizontal surface makes effective airflow difficult due to the limited space between the crop canopy and the luminaire.

To get more Insights: Request Free Sample Report

The growth of the European market is rapidly growing due to the prompt development of precision agriculture technology and the increasing adoption of artificial intelligence and robotics in vertical farming. Modern agriculture and the agricultural industry are leveraging the potential of AI. Leading market players in vertical farming monitor the environmental conditions required for crop development, such as soil, water, light exposure, and crop yield data. Advanced technologies such as AI-assisted tools and robotics allow growers and growers to track and control crop growth. These major factors give a huge opportunity for the European vertical farming market.

Impact of COVID-19 for European Vertical Farming Market:

In the case of COVID19, Europe, especially France, witnessed an unprecedented rise in the number of coronavirus cases, which led to the discontinuation of food and beverages producing activities, other horticulture producing segment has consequently wedged the demand for vertical farming crops throughout the early months of 2020. Furthermore, deterioration in the inclusive manufacturing accomplishments has led to the cessation of food and beverages creating developments, thereby plummeting the demand for vertical farming crops. A similar trend was witnessed in other European countries, such as Russia, the UK, Italy, and Spain. However, the countries are likely to flabbergast thus drib in demand with the financial undertakings retrieval their pace, especially in the beginning of 2021.

Europe Vertical Farming Market Segment Analysis:

By Component, the market is segmented as Lighting, Sensor, Climate Control, Irrigation, Building material and others. The lighting segment dominated the market with a 31.2% share in 2023. Fluorescent grow lights are used to grow herbs and vegetables indoors. There are two types such as fluorescent tubes and compact fluorescent light bulbs (CFL). Fluorescent lamps come in a variety of intensities. Plant factories, vertical farming, and indoor farming whether fully automatic or manual, success often depends heavily on the ideal LED grow light solution. As a technology, it is ideally suitable for the basic needs of multi-layer vertical farming as well as LEDs which is effectively driving the growth of the lighting segment.

However, The Climate Control segment is expected to grow at a CAGR of 19.4% through the forecast period. European Vertical farming can play an important role in reducing the environmental impact of agriculture. It reduces the amount of water and land needed to produce the same or more food. In addition, long transportation routes and the use of chemicals and pesticides are eliminated.

Europe Vertical Farming Market Regional Insights:

More floor location is dedicated to agriculture in France than other states in Western Europe which is (48.2 million acres or 35.5% of the full location). France is the second-biggest exporter of products to the US and the most important agricultural manufacturer in Europe. The development of vertical farming has increased research into atmospheric farming from which the greenhouse horticulture industry also dominates in terms of income. Greenhouse vegetable growers often establish relationships with food distributors and are highly productive operators. They can therefore compete with vertical farms, rather than complement each other, for the same market, especially in regions or countries with a high concentration of greenhouses, such as the Netherlands. Various varieties are available in Europe for vertical farming, which could help to drive the market over the forecast period.

The objective of the report is to present a comprehensive analysis of the Europe Vertical Farming market to the stakeholders in the industry. The report provides trends that are most dominant in the Europe Vertical Farming market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Europe Vertical Farming Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

The qualitative and quantitative data provided in the Europe Vertical Farming market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Europe Vertical Farming market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Europe Vertical Farming market.

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Europe Vertical Farming market. The report also analyses if the Europe Vertical Farming market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few Players, etc.

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Europe Vertical Farming market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Europe Vertical Farming market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Europe Vertical Farming market is aided by legal factors.

Europe Vertical Farming Market Scope:

Europe Vertical Farming Market Key Players:  

• AeroFarms
• Urban Crops Solutions
• Illumitex, Inc.
• Koninklijke Philips N.V.
• Sky Green Ltd.
• Everlight Electronics Co. Ltd.
• American Hydroponics
• Hort Americas
• Agrilution
• Green Sense Farms, LLC.