Green Planet Group Inc (GNPG)

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Vertical Farming Market Outlook - 2026

The global vertical farming market size was valued at $2.23 billion in 2018, and is projected to reach $12.77 billion by 2026, growing at a CAGR of 24.6% from 2019 to 2026. Vertical farming is a revolutionary approach used to produce food and medicinal plants in vertically stacked layers such as in a skyscraper, used warehouse, or shipping container. It facilitates huge quantity of nutritious and quality fresh food without relying on favorable weather, high water usage, skilled labor, and high soil fertility. Moreover, it ensures reliable yield and consistency in crop production round the year along with climate control, and no effects of external environment factors such as diseases, pests, or predator attacks.
The demand for vertical farming industry is expected to increase rapidly during the forecast period, owing to rise in popularity of organic food. Furthermore, the vertically stacked structure of these farms reduces the demand for additional construction activity and land. Moreover, it reduces the intervention of machines required during conventional farming. Thus, optimum use of vertical space and balanced energy utilization contribute toward the vertical farming market growth. In addition, these facilities involve multiple technologies for growth of plants artificially. The technologies used in this farming enables to keep track of plants growth and harvesting, which further drives the market growth. The rise in urban population and surge in adoption of technology driven agriculture are expected to provide lucrative growth opportunities to the vertical farming market players.