Singapore Vertical Farming Market Size & Outlook
Singapore vertical farming market, 2018-2030 (US$M)
Related Markets
Singapore vertical farming market highlights
- The Singapore vertical farming market generated a revenue of USD 190.9 million in 2023 and is expected to reach USD 702.0 million by 2030.
- The Singapore market is expected to grow at a CAGR of 20.4% 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 190.9 million |
| Market revenue in 2030 | USD 702.0 million |
| Growth rate | 20.4% (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, Singapore accounted for 3.3% 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 Asia Pacific, China vertical farming market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,632.0 million by 2030.
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Vertical Farming Market Scope
Vertical Farming Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Singapore 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 66.47% in 2023. Horizon Databook has segmented the Singapore vertical farming market based on fruits vegetables, & herbs, flowers & ornamentals covering the revenue growth of each sub-segment from 2018 to 2030.
Singapore is a small island with a highly urbanized population and limited space for traditional agriculture practices. As a result, vertical farming has gained traction as a viable alternative to traditional farming methods, allowing fresh produce production in a controlled environment using minimal land and water resources.
The vertical farming market in Singapore has experienced significant growth in recent years due to government support and increasing demand for locally grown, sustainable produce.
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Target buyers of Singapore 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 Singapore vertical farming market , including forecasts for subscribers. This country databook contains high-level insights into Singapore vertical farming market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Singapore vertical farming market size, by crop category, 2018-2030 (US$M)
Singapore Vertical Farming Market Outlook Share, 2023 & 2030 (US$M)
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