Latin America Vertical Farming Market Size & Outlook
Latin America vertical farming market, 2018-2030 (US$M)
Related Markets
Latin America vertical farming market highlights
- The Latin America vertical farming market generated a revenue of USD 535.2 million in 2023.
- The market is expected to grow at a CAGR of 18.9% 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.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 535.2 million |
| Market revenue in 2030 | USD 1,797.0 million |
| Growth rate | 18.9% (CAGR from 2023 to 2030) |
| Largest segment | Fruits vegetables, & herbs |
| Fastest growing segment | Fruits Vegetables, & Herbs |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 9.2% of the global vertical farming market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 7,044.2 million by 2030.
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Vertical Farming Market Scope
Vertical Farming Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America 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 65.7% in 2023. Horizon Databook has segmented the Latin America vertical farming market based on fruits vegetables, & herbs, flowers & ornamentals covering the revenue growth of each sub-segment from 2018 to 2030.
Government initiatives to develop medium to large scale vertical farms are expected to spur market growth over the projected period. The Brazilian government has implemented policies that facilitate loans and credits to farmers.
Agriculture challenges prevailing in Brazil include forced labor, growing urbanization, and agrarian reforms. The growing adoption of organic agriculture among small farmers in South America will likely drive the growth of the regional market over the projected period.
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Target buyers of Latin America 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 continent-level data and insights on the Latin America vertical farming market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America vertical farming market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America vertical farming market size, by country, 2018-2030 (US$M)
Latin America Vertical Farming Market Outlook Share, 2023 & 2030 (US$M)
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