Europe Vertical Farming Market – Analysis and Forecast To 2024, Metropolitan Farms, Green Sense Farms, and Green Spirit Farms

The European vertical farming market is predicted to grow at 21.6% CAGR during the forecast period with the market size reaching USD 2,298.3 million by 2024.

The Vertical farming technique helps the manufacturers in producing crops in vertically stacked columns and rows. The technique utilizes the controlled-environment agriculture (CEA) technology that helps in controlling humidity, nutrients, gases, temperature, and light. This technique causes less ecological influence and enables the manufacturer to utilize reduced water and energy than the customary farms. The manufacturers can efficiently utilize their resources and produce significantly more food with minimum consumption of land.

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Growth Drivers

The increasing demand for environmentally friendly production of fresh fruits and vegetables with no use of pesticides is driving the demand for the vertical farming market in Europe. The consumption of organic food is helping people to lessen their symptoms if they are suffering from allergies to foods or chemicals. The demand for organic foods is increasing as it provides more nutrients such as antioxidants than those of conventionally grown counterparts.

Geography Insight

Europe is the second-largest vertical farming market after North America as the technique is satisfying the needs of the urban population. The technique aims at delivering the crops where the consumption of this product is highly focused. The demand for vertical farming is increasing enormously in order to satisfy the demand for an enhanced urban population. The swelling ecological and cost-effective pressure to develop products such as lettuce in the location near to the residing place of end customers is expected to further strengthen the demand of this market in Europe.

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Competitive Insight

Some of the key players operating in the European vertical farming market are AeroFarms, Gotham Greens, Bright Farms Inc., Vertical Harvest, Home Town Farms, Infinite Harvest Inc., Lufa Farms Inc., Beijing IEDA Protected Horticulture Co., Ltd., Farmed Here LLC, Garden Fresh Farms CSA, Metropolitan Farms, Green Sense Farms, and Green Spirit Farms.

Source: VynZ Research