1. Broan Inc.
2. Heliospectra AB
4. Signify Holding
5. OSRAM GmbH.
Beyond providing fresh local produce, vertical farming could help increase food production and expand agricultural operations as the world’s population is projected to reach 9 Billion by 2050. Also, by the same year, it is expected that two out of every three people will live in urban areas. Producing fresh greens and vegetables close to this urban population could help to meet the increasing food demands across the globe. Vertical farming offers a sustainable and environmentally responsible way of life for the upcoming enhanced lifestyle. In Latin America, the market is projected to expand as the consumer demand for organic foods is complemented by rising disposable incomes and a growing population.
Further, increasing penetration of technology advancements in the vertical farming industry across Latin America, which will bring down the overall cost, is forecasted to direct the market towards higher momentum. For instance, AgroUrbana was the first vertical farm established in Latin America with its 3000-square foot pilot facility in Santiago (Chile). Furthermore, Latin America plans to replicate this farm on a larger scale (30,000 square feet). This new facility will allow AgroUrbana to increase its output by twentyfold and fuel higher market growth. AgroUrbana currently produces lettuce as a house mix. It will soon be launching kale and basil and experimenting with strawberry production.
According to the report titled "Latin America Vertical Farming Market Outlook, 2027", published by Actual Market Research, the vertical farming market is expected to expand at a CAGR of 15.58% from 2022 to 2027. Better yield with lower requirement for space, shorter growing time, less water usage, a gassy product, and superior organic taste are some of the major driving forces for the Latin American vertical farming market. The Latin American vertical farming market is segmented into three major countries: Brazil, Argentina, and Columbia. Among these countries, Brazil vertical farming market is expected to lead the Latin American vertical market during the forecast period. Brazil is considered one of the region's largest markets, followed by Argentina and Columbia.
Vertical farming companies have arisen in all of the leading Brazilian metropolises. Embrapa is Brazil's central agricultural research agency researching mineral nutrition management for hydroponically grown vegetables. In addition, Brazil has abundant land resources and climate conditions, so land availability more strongly limits vegetable production. According to research, there are at least three vertical farms in Sao Paulo alone. Also, Brazil is mainly known for its vertical farms. It is based on using innovative technology to grow food "up" rather than "out," bringing fresh and local produce to urban areas with less environmental impact. Pink Farms is growing micro-greens, which are sold directly to consumers.
According to the report, Latin America's vertical farming market is segmented into three growth mechanism types: hydroponics, aeroponics, and aquaponics. Among these types, the hydroponics segment is anticipated to lead the market with more than 56% during the forecast period. Growing awareness about the environmental impacts of traditional farming and water shortages has directed the market towards the hydroponics growth mechanism. Further, the market is segmented into two structure types: building-based vertical farms and shipping container-based vertical farms. Among these types, the building-based vertical farm segment is projected to occupy the most significant market share during the forecast period. However, shipping-container-based farming is anticipated to grow at a rapid compound annual growth rate in the Latin American vertical farming market by 2027.
From corporate agricultural production systems to small and medium-scale farm households, all types of farming systems were heavily impacted during the COVID-19 pandemic. The various government-implemented measures, such as reduced mobility, closure of public and private venues, and a halt in production units, had varying degrees of severity. Imposed lockdown situation resulted in a significant drop in revenue generation and disrupted supply chains for vertical farming instruments. However, staying at home has changed many consumers' mindsets and preferences and directed them to organic food consumption. Such factors are expected to propel the higher market growth during the forecast period in the Latin American vertical farming market.
Major Companies present in the market:
AeroFarms, Agrilution, American Hydroponics, Sky Greens, Freight Farms, GP Solutions, Inc., Farm.One, Inc., Pentair Aquatic Eco-systems Inc., NutraPonics Canada Corporation, Nelson and Pade, Inc., ECF Farmsystems GmbH, Signify Holding, Heliospectra AB, Lumigrow, Inc., OSRAM GmbH., Crop One Holdings, Plenty Unlimited Inc., Urban Crop Solutions, Brightfarms, Inc., Aponic Limited
Considered in this report
• Geography: Latin America
• Historic Year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027
Aspects covered in this report
• Latin America Vertical Farming Market with its value and forecast along with its segments
• Country wise vertical farming market analysis
• Application wise vertical farming distribution
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation
Countries covered in the report
Based on Growth Mechanism of vertical farming in the report:
Based on structure type of vertical farming in the report:
• Building based-vertical farming
• Shipping based-vertical farming
Based on hydroponics components of vertical farming in the report:
• Climate Control (HVAC)
• Other Hydroponic Components (Irrigation & fertigation system)
Based on application type in the report:
• Indoor-vertical farming
• Outdoor-vertical farming
Based on crop type in the report:
• Bell & Chili peppers
• Leafy Greens (excluding lettuce)
The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agricultural industry, food & beverage industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
Keywords: global vertical farming market size, herbal, botanical, Skyscraper farming, Agricultural techniques, Vertical farming component, farming equipment, Tomato Lettuce vertical farming, Bell & Chili, food & beverage, market demand of vertical farming, hydroponics, aeroponics, aquaponics, shipping container vertical farming, top vertical farming countries, top vertical farming companies,top hydroponics farming by countries, Latin America, Brazil, Argentina, Columbia.
This report would help you answer the following questions:
1. At what rate Latin America market is expected to grow?
2. Which mechanism is leading the market by 2027?
3. Which country is leading the market by 2027?
4. What is the name of the vertical farming?
5. Who is leader in vertical farming?