United States Vertical Farming Market: United States Industry Analysis and Forecast (2023-2029) by Technology, Application, Type, and Region.

United States Vertical Farming Market Definition:

Vertical farming is a new agricultural production method in which crops are stacked vertically and cultivated. Compared to traditional agriculture, this method allows you to grow very large quantities of crops in much smaller spaces. Vertical farming is a type of energy-intensive agricultural production system that uses big data analysis, robotics, the Internet of Things, artificial intelligence, and other technologies to grow crops more efficiently.

United States Vertical Farming Market Dynamics:

The US vertical farming marketplace is anticipated to upward thrust because of growing population, arable land loss, environmental sustainability, decrease exertions costs, better 12 months spherical yield, and green crop tracking and harvesting. The growing need for sustainable farming to reduce the negative impact on the environment will drive the growth of the US vertical farming market. The exponential scale of pollution and production intensification, which has a significant impact on the planet's resources, will drive the need for sustainable agricultural practices in the US market. Supply chain inefficiencies amplify the impact of shortages and negatively impact the harvesting, processing and transportation processes in the market.

The market also faces several challenges, including a shortage of technically skilled labor and high start-up costs. One of the most important troubles with vertical farming lies within side the reality that it may have an effect on or even destabilize many groups which are nearly absolutely depending on agriculture. Vertical farming regularly includes the usage of technical answers which includes cameras, sensors, computerized systems, synthetic intelligence, hydroponic, Aquaponics, and Aeroponics systems. To perform those superior systems, an informed and skilful team of workers is essential. Lack of a professional team of workers has affected one of a kind sectors at a worldwide level, and vertical farming isn't an exception. This most important restraining thing has hampered the increase of the market.

The implementation of vertical farming recycles inputs, uses resources sparingly, and maximizes the sustainability of the US vertical farming market. Introducing robot harvesters, automated seeders and greenhouse roof washer to reduce operating costs and increase profits in the US vertical farming market. Automation of plant movements includes unit tasks of transplantation, sowing, transplanting, packing, harvesting, and cleaning, which have gained significant traction in the US market.

Vertical Farm Market Trends in US:

The recent trend of the farmtotable movement promoting localized organic farming concepts will contribute to the growth of the US vertical farming market. The desire to eat locally and the year-round availability of super fresh produce is leading to the popularity of the farmable movement in the US market. The growing demand for fresh ingredients, safe production processes, and better taste experiences is pouring growth in the farmer’s market setup in the US region. Large restaurants incorporate locally produced ingredients to attract maximum consumers to the market. National chains like Chipotle and Subway are also joining the movement in the US market.

Impact of Covid-19 in the United States:

In the case of COVID19, the United States experienced an unprecedented increase in the number of coronavirus infections, resulting in the shutdown of food and beverage production, and other crops that subsequently impacted demand for vertical crops in the first months of 2020. In addition, the general decline in production activities has led to the closure of food and beverage production projects, reducing demand for the tree vertical planting.

United States Vertical Farming Market Segment Analysis:

By Structure Type, the market is segmented as Building-based vertical farming and Shipping container-based vertical farming. Building-based vertical farming dominated the market with a 62.2% share in 2020. The building-based segment is analysed as having a large market share due to the available space where growers can easily move and monitor the produce, thus building-based vertical farming offers high yields than traditional land farming and container-based farming by driving their base segment of the building.

However, The Shipping container-based vertical farming segment is expected to grow at a CAGR of 23.4% through the forecast period. This is attributable to those forms of packing containers which is less highly-priced and are without problems available. Also, transport container-primarily based farms can store greater area via way of means of piling transport packing containers even as reaching better yield in line with rectangular foot attributable to which there's multiplied call for of those transport container, thereby using the increase of this market.

United States Vertical Farming Market Regional Insights:

The United States of America is the main region that dominates the North American agricultural vertical market and accounts for 71.5% of the revenue market share in 2020. The United States in United States dominates the agricultural vertical market due to the decreasing demand for intervention. The intervention of machinery required for agriculture, the growing popularity of organic crops and increasing opportunities for external funding for stakeholders and researchers are the main factors driving the agricultural market.

However, Canada is expected to grow at a CAGR of 10.5 % through the forecast period.

The main reason is the growing demand for advanced technology in the food sector to produce fresh and sustainable products and allow consumers to know exactly where the product is coming from, which is driving the growth of the market leader in this country.

The objective of the report is to present a comprehensive analysis of the United States Vertical Farming market to the stakeholders in the industry. The report provides trends that are most dominant in the United States 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 United States 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 United States 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 United States 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 United States 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 United States Vertical Farming market. The report also analyses if the United States 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 United States Vertical Farming market. Economic variables aid in the analysis of economic performance drivers that have an impact on the United States Vertical Farming market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the United States Vertical Farming market is aided by legal factors.

Vertical Farming Market Scope:

KEY PLAYERS:  

• Eden Green Technology
• Elevate Farms Inc.
• iFarm
• OSRAM GmbH
• Plenty Unlimited Inc.
• Agrilution
• AeroFarms