How Innovative And Sustainable Agriculture Practices Are Propelling the Sales for Top Vertical Farming Companies in the World

The vertical farming is a technique which helps to decrease the challenges of arable land. The growth of this industry is attributed to these factors, including the increasing interest in climate control technology requirement of less energy and water for the irrigation process. The enhanced efficiency, weather resistance, food security, low water usage, and environmental conservation are anticipated to raise the demand for vertical farming techniques.

According to Fortune Business Insights™, the global market for Vertical Farming could be worth USD 27.42 billion by 2030, recording a CAGR of 27.3% over 2023-2030. The market reached the valuation of USD 27.42 billion in 2022 and is estimated to reach USD 5.05 billion in 2023. 

The increasing land availability challenges for food production due to the increasing demand boost the adoption of vertical farms globally. The rising urbanization, limited water supplies, global population, and ongoing climate change is anticipated to drive vertical farming industry growth.

Fortune Business Insights™ Presents The 10 Vertical Farming Companies in the World

1. AeroFarms

AeroFarms is a certified B Corporation, which uses the latest advances in AI, plant biology, and indoor vertical farming to grow diverse products, delivering superior taste, improved nutrition, and better quality with food safety and traceability.

June 2023: AeroFarms filed a petition in the Delaware Federal Bankruptcy Court for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code. The company has also filed multiple motions in bankruptcy court seeking customary relief allowing it to move to Chapter 11, subject to a limited interruption to the company’s ongoing core business.

2. OSRAM Licht AG

A lighting technology company, OSRAM Licht AG, offers everything from LED horticultural lighting to complete solutions. The company works with research and industry experts to provide products and systems which enable reliable supply to food retail and flower markets, the pharmaceutical industry, and food processing plants.

July 2023: OSRAM Licht AG, an optical solutions provider, launched the fifth generation of its OSLON Square Hyper Red horticulture LEDs designed to boost plant growth and optimize costs.

3. Urban Crop Solutions

Urban Crop Solutions provides hydroponic indoor vertical farming solutions that support its customers through contract research trials, business planning, and the indoor farms’ engineering and construction.

April 2023: Urban Crop Solutions selected AlfaTech to become the service and integration partner for its products in Southeast Asia. A new joint venture with the National University of Singapore will be looking over both companies working on indoor vertical farming projects by combining their solutions into industrial and architectural projects.

4. Heliospectra AB

Heliospectra AB offers heliospectra, which is the most advanced intelligent LED grow light for horticulture and greenhouse cultivation in controlled environments. Heliospectra offers products based on its deep knowledge of photosynthesis and plant physiology and unique opportunities for using the latest LED technology.

5. Everlight Electronics Co. Ltd.

Everlight Electronics Co. Ltd. provides horticulture lighting LED, which is the finest way to attain effective agriculture lighting by delivering a spectrum of light replicating sunlight or providing the necessary spectrums.

The company also provides Everight Electronics Co. Ltd. in this market related to different parameters, including product positioning, financial strength, geographic footprint, innovation capabilities, market share, organizational capabilities, and revenue growth.

6. Signify Holding

Signify Holding design and develop purpose-built lighting for high-tech horticulture and vertical agriculture to feed the increasing population sustainably. Signify Holding provides customized light recipes for greater yields, predictable growth, and high-quality plants.

March 2020: Signify partnered with Planet Farms. The partnership will enable Planet Farms to produce and supply its customers in Italy with the most delicious salads and aromatic herbs. The vertical farm uses Philips GreenPower LED production modules managed by a Philips GrowWise control system for quality, yield, and plant uniformity improvement.

7. Sky Greens

Sky Greens Canada delivers consulting services to businesses, organizations, and individuals interested in learning more about vertical farming. It offers consulting services, such as post-harvest management, sustainable agricultural practices, and technology and equipment.

June 2022: Sky Green’s parent company, Sky Urban Solutions Holding Pte Ltd, acquired GEM Global Yield LLC SCS group to provide Sky Urban with a share subscription facility of around USD 50 million for 36 months, resulting in the public listing.

8. BrightFarms

One of the top vertical farming companies in the world, BrightFarms grows and supplies local, pesticide-free, and non-GMO salad greens to supermarkets. BrightFarms decreases cost, time, and distance in the food supply chain by collaborating with cities, suppliers, funding sources, and supermarkets to build, finance, and operate local greenhouse farms. It also generates a scalable model for a sustainable local farming future, which decreases energy, water, and land usage by integrating field farming and long-distance.

March 2023: BrightFarms will form four regional greenhouse centers to develop and market leafy greens to more people across Eastern and Central regions of the U.S. The new centers are designed to position BrightFarms for revenue growth and market expansion.

9. Plenty Unlimited

The mission of Plenty Unlimited Inc. is to introduce healthy food globally while protecting the environment. Plenty Unlimited offers non-GMO and pesticide-free leafy greens by growing and delivering locally, reducing the transportation distance and emissions.

February 2023: Plenty Unlimited Inc. acquired Laramie, the largest and most advanced vertical agriculture research center, to expand its research and development capabilities and operations.

10. Freight Farms, Inc.

Freight Farms, Inc. develops a global infrastructure to revolutionize local access to food. Freight Farms, Inc. produces fresh food, accessible anytime and anywhere, with a complete platform of products and services, including the Greenery S, farmhand, and Client Platform.

November 2022: Freight Farms, Inc. raised USD 1.75 million in Series B3 funding to improve the sustainability and accessibility of the food system through container farming. This funding will benefit the company to expand its mission to enable anyone to grow food anywhere through its versatile, modular, and easy-to-use container farm automation software product line.

Future of the Vertical Farming Sector

The growing integration of artificial intelligence and robotics across vertical farms that enable tracking of plants develop from irrigation to harvesting to drive the industry in the future. The rising demand for innovative and sustainable agriculture practices to decrease waste drives the vertical farming industry growth.