Who are the key players in LED Farming Market?

Koninklijke Philips N.V., Gavita International B.V., General Electric Company, OSRAM Opto Semiconductors GmbH and Heliospectra AB are the major companies operating in the LED Farming Market. Read More

Which is the fastest growing region in LED Farming Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in LED Farming Market?

In 2024, the North America accounts for the largest market share in LED Farming Market. Read More

What years does this LED Farming Market cover, and what was the market size in 2023?

In 2023, the LED Farming Market size was estimated at USD 4.15 billion. The report covers the LED Farming Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the LED Farming Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

LED Farming Market Size

Market Size of LED Farming Industry

Study Period	2019 - 2029
Market Size (2024)	USD 4.66 Billion
Market Size (2029)	USD 8.28 Billion
CAGR (2024 - 2029)	12.20 %
Fastest Growing Market	Asia Pacific
Largest Market	North America
Major Players *Disclaimer: Major Players sorted in no particular order

LED Farming Market Analysis

The LED Farming Market size is estimated at USD 4.66 billion in 2024, and is expected to reach USD 8.28 billion by 2029, growing at a CAGR of 12.20% during the forecast period (2024-2029).

The advent of Controlled Environment Agriculture (CEA) in terms of vertical farming has had a significant role to play in the LED farming market. Increased reliability, energy-efficiency, diversified products, and reduced long-term costs are the key features driving the penetration of LED lighting in vertical farms.
North America held the largest market size in the global LED farming market in 2019, followed by indoor farms and commercial greenhouses. The onset of the urban populationdwelling across cities, such as New York, Chicago, and Milwaukee, Toronto, and Vancouver, has propelled the establishment of indoor farms in shipping containerized form or building-based farms to cater to the emerging need for fresh grown foods.
The market for LED farming is fairly fragmented with the well-established players and emerging companies equally vying for a stronger foothold in the market. Some of the key players in the market includeKoninklijke Philips N.V., Gavita International B.V., General Electric Company, OSRAM Opto Semiconductors GmbH, Heliospectra AB, Hortilux Schreder B.V., and Illumitex, among others.

LED Farming Industry Segmentation

LED lighting is currently heralded as the primary input for the indoor cultivation of plants. The scope of the Global LED Farming market includes a segmentation analysis based on application areas, viz., vertical farming, indoor farming, commercial greenhouse, turf and landscaping, and other applications, and wavelength type, viz., blue, red, far-red, and other types of wavelengths. The scope also extends to the different types of crops prevalent in the market studied, viz., fruits and vegetables, herbs and microgreens, flowers and ornamentals, and other crop types. In addition, the report constitutes a geographical segmentation covering over 16 countries across the world. The review period considered for the study is 2016-2024 and the forecast period is 2020-2025.

Application
		Vertical farming
		Indoor Farming
		Commercial Greenhouse
		Turf and Landscaping

Wavelength
		Blue Wavelength
		Red Wavelength
		Far Red Wavelength

Crop Type
		Fruits & Vegetables
		Herbs & Microgreens
		Flowers & Ornamentals
		Other Crop Types

Geography

North America
	US
	Canada
	Mexico
	Rest of North America

Europe
	Germany
	UK
	France
	Russia
	Spain
	Rest of Europe

Asia Pacific
	China
	Japan
	India
	Australia
	Rest of Asia-Pacific

South America
	Brazil
	Argentina
	Rest of South America

Middle East and Africa
	UAE
	Saudi Arabia
	South Africa
	Egypt
	Rest of Middle East and Africa

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LED Farming Market Size Summary

The LED farming market is experiencing significant growth, driven by the increasing adoption of Controlled Environment Agriculture (CEA) and vertical farming. This growth is attributed to the advantages of LED lighting, such as enhanced reliability, energy efficiency, and cost-effectiveness, which are crucial for the sustainability of vertical farms. The market is characterized by a diverse range of applications, including indoor farms and commercial greenhouses, with North America leading in market size due to urbanization and the need for fresh produce in cities. The market landscape is competitive, with established players and emerging companies striving to capture a larger share through innovation and strategic partnerships.

The transition to LED technology in farming is revolutionizing agricultural practices, expanding from high-value crops like cannabis to a broader spectrum including microgreens and vegetables. This shift is facilitated by the significant reduction in LED costs and improvements in efficiency, making them more suitable than traditional lighting options for vertical farming. The market is further bolstered by initiatives in the United States and Canada, where urban agriculture is being promoted to address food security and land scarcity issues. Key industry players are actively engaging in mergers, acquisitions, and product innovations to strengthen their market position and expand their global reach, particularly in regions like Europe, the Middle East, and Africa.

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LED Farming Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Market Overview
2. 1.2 Introduction to Market Drivers and Restraints
3. 1.3 Market Drivers
4. 1.4 Market Restraints
5. 1.5 Industry Attractiveness - Porter's Five Force Analysis
  1. 1.5.1 Threat of New Entrants
  2. 1.5.2 Bargaining Power of Buyers/Consumers
  3. 1.5.3 Bargaining Power of Suppliers
  4. 1.5.4 Threat of Substitute Products
  5. 1.5.5 Intensity of Competitive Rivalry
2. MARKET SEGMENTATION
1. 2.1 Application
  1. 2.1.1 Vertical farming
  2. 2.1.2 Indoor Farming
  3. 2.1.3 Commercial Greenhouse
  4. 2.1.4 Turf and Landscaping
2. 2.2 Wavelength
  1. 2.2.1 Blue Wavelength
  2. 2.2.2 Red Wavelength
  3. 2.2.3 Far Red Wavelength
3. 2.3 Crop Type
  1. 2.3.1 Fruits & Vegetables
  2. 2.3.2 Herbs & Microgreens
  3. 2.3.3 Flowers & Ornamentals
  4. 2.3.4 Other Crop Types
4. 2.4 Geography
  1. 2.4.1 North America
    1. 2.4.1.1 US
    2. 2.4.1.2 Canada
    3. 2.4.1.3 Mexico
    4. 2.4.1.4 Rest of North America
  2. 2.4.2 Europe
    1. 2.4.2.1 Germany
    2. 2.4.2.2 UK
    3. 2.4.2.3 France
    4. 2.4.2.4 Russia
    5. 2.4.2.5 Spain
    6. 2.4.2.6 Rest of Europe
  3. 2.4.3 Asia Pacific
    1. 2.4.3.1 China
    2. 2.4.3.2 Japan
    3. 2.4.3.3 India
    4. 2.4.3.4 Australia
    5. 2.4.3.5 Rest of Asia-Pacific
  4. 2.4.4 South America
    1. 2.4.4.1 Brazil
    2. 2.4.4.2 Argentina
    3. 2.4.4.3 Rest of South America
  5. 2.4.5 Middle East and Africa
    1. 2.4.5.1 UAE
    2. 2.4.5.2 Saudi Arabia
    3. 2.4.5.3 South Africa
    4. 2.4.5.4 Egypt
    5. 2.4.5.5 Rest of Middle East and Africa