Canada Vertical Farming Market Size & Outlook, 2023-2030
Canada vertical farming market, 2018-2030 (US$M)
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Canada vertical farming market highlights
- The Canada vertical farming market generated a revenue of USD 415.6 million in 2023 and is expected to reach USD 1,747.3 million by 2030.
- The Canada market is expected to grow at a CAGR of 22.8% from 2024 to 2030.
- In terms of segment, fruits vegetables, & herbs was the largest revenue generating crop category in 2023.
- Fruits Vegetables, & Herbs is the most lucrative crop category segment registering the fastest growth during the forecast period.
Vertical farming market data book summary
| Market revenue in 2023 | USD 415.6 million |
| Market revenue in 2030 | USD 1,747.3 million |
| Growth rate | 22.8% (CAGR from 2023 to 2030) |
| Largest segment | Fruits vegetables, & herbs |
| Fastest growing segment | Fruits Vegetables, & Herbs |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Fruits Vegetables, & Herbs, Flowers & Ornamentals |
| Key market players worldwide | AeroFarms, Illumitex, Everlight Electronics, Agrilution, American Clay Works & Supply Company, Freight Farms, GrowUp Farms, Green Sense Farms, Vertical Farm Systems |
Other key industry trends
- In terms of revenue, Canada accounted for 7.1% of the global vertical farming market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. vertical farming market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 1,747.3 million by 2030.
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Vertical Farming Market Scope
Vertical Farming Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada vertical farming market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to vertical farming market will help companies and investors design strategic landscapes.
Fruits vegetables, & herbs was the largest segment with a revenue share of 68.26% in 2023. Horizon Databook has segmented the Canada vertical farming market based on fruits vegetables, & herbs, flowers & ornamentals covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of the Canadian vertical farming market can be attributed to the various measures undertaken by the government. One is the Canadian Agricultural Partnership (CAP), a federal-provincial-territorial program funding various agricultural initiatives, including vertical farming.
In addition, Agriculture and Agri-Food Canada (AAFC) offers a range of research and development programs focused on vertical farming. These programs support research into new technologies and practices to help farmers increase yields, reduce costs, and minimize environmental impact.
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Target buyers of Canada vertical farming market databook
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Our clientele includes a mix of vertical farming market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Canada vertical farming market , including forecasts for subscribers. This country databook contains high-level insights into Canada vertical farming market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada vertical farming market size, by crop category, 2018-2030 (US$M)
Canada Vertical Farming Market Outlook Share, 2023 & 2030 (US$M)
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