Mexico Vertical Farming Market Size (2024 - 2029)

The Mexico Vertical Farming Market is poised for significant growth, driven by factors such as water scarcity, reduced agricultural land, and a focus on food security. This market's expansion is supported by the adoption of innovative farming techniques like hydroponics, which require lower investment compared to other methods. The emphasis on indoor farming, particularly for crops like leafy vegetables and microgreens, highlights the importance of advanced lighting and climate control systems. As research and development advance, the variety of produce in vertical farms is expected to diversify. The Mexican government's support for new technologies and educational programs further underscores the potential for sustainable agricultural productivity improvements, contributing to the positive outlook for the market's growth trajectory.

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Market Size of Mexico Vertical Farming Industry

Mexico Vertical Farming Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 318.11 Million
Market Size (2029) USD 512.31 Million
CAGR (2024 - 2029) 10.00 %
Market Concentration High

Major Players

Mexico Vertical Farming Market Major Players

*Disclaimer: Major Players sorted in no particular order

Mexico Vertical Farming Market Analysis

The Mexico Vertical Farming Market size is estimated at USD 318.11 million in 2024, and is expected to reach USD 512.31 million by 2029, growing at a CAGR of 10% during the forecast period (2024-2029).

  • The increasing water scarcity and reduction in agricultural land area, focus on food security, and the need for alternative farming techniques are major drivers that have paved the way for the development of vertical farming in Mexico. Major crops produced in the country under vertical farms are lettuce, leafy vegetables, microgreens, tomato, cucumber, etc. Lighting devices and climate control are the major component types in vertical farms. Since farming is done in indoor conditions, providing proper and adequate lighting, along with the right environmental conditions, becomes crucial for the growth of plants.
  • In terms of quantity, most indoor farms in Mexico focus on leafy vegetables and microgreens. However, with the increasing R&D on different varieties of produce, the trend is set to change rapidly. Companies are pioneering vertical farming and working on getting systems and knowledge to the new generation of agronomists. The Mexican government is paying attention to new technologies and revising university programs.
  • The National Consumer Price (NCP) index saw a dramatic rise in fresh goods in 2022. Inflation and challenges with basic food products are increasing hunger among the poorest people. Vertical farming can promote food security and help reduce food insecurity in the country. Hydroponics is the most adopted vertical farming technique, followed by aeroponics and aquaponics. Compared to other methods, hydroponics has a relatively low investment.
  • The country's agriculture production structure has a heterogeneous landscape, translating into low productivity growth over the past few years. Thus, vertical farming can provide a sustainable long-term solution to increasing agriculture productivity in the country. Therefore, market growth is expected to be positive during the forecast period.

Mexico Vertical Farming Industry Segmentation

Vertical farming is an agricultural method through which crops are grown in vertically stacked layers. It is done in a controlled environment using techniques such as aquaponics, hydroponics, and aeroponics that do not make use of soil.

The Mexico vertical farming market is segmented by growth mechanism (aeroponics, hydroponics, and aquaponics), structure (building-based vertical farms and shipping container-based vertical farms), component( lighting devices, climate control, sensors, and other components), and crop type (tomato, berries, lettuce & leafy vegetables, pepper, cucumber, microgreens, and other crop types).

The report offers market estimation and forecasts in value (USD million) for the above-mentioned segments.

Growth Mechanism
Aeroponics
Hydroponics
Aquaponics
Structure
Building-Based Vertical Farms
Shipping Container-Based Vertical Farms
Components
Lighting
Climate Control
Sensors
Other Components
Crop Types
Tomato
Berries
Lettuce and Leafy Vegetables
Pepper
Cucumber
Microgreens
Other Crop Types
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Mexico Vertical Farming Market Size Summary

The vertical farming market in Mexico is poised for significant growth, driven by factors such as water scarcity, diminishing agricultural land, and the pressing need for food security. This innovative farming technique is gaining traction as a sustainable solution to enhance agricultural productivity in the country. Vertical farms in Mexico primarily produce crops like lettuce, leafy vegetables, microgreens, tomatoes, and cucumbers, with hydroponics being the most widely adopted method due to its lower investment requirements. The Mexican government's focus on integrating new technologies and revising educational programs further supports the development of vertical farming. This sector is seen as a viable alternative to traditional farming, helping to address the challenges posed by inflation and food insecurity, particularly among the country's poorest populations.

The demand for organic produce in Mexico has been on the rise, aligning with a broader trend towards healthier eating habits. Vertical farming offers an opportunity to meet this demand by reducing reliance on synthetic fertilizers and pesticides, thus promoting organic vegetable production. The Mexican government has been proactive in supporting organic farmers by allowing them to adopt more intensive production techniques like vertical farming. Despite the country's strong production of vegetable crops, there is a growing interest in plantation and fruit crops, making vertical farming an attractive option for organic growers. The market is characterized by a few key players, and recent expansions and partnerships indicate a burgeoning interest in optimizing vertical farming solutions. As the population continues to grow, the need for innovative agricultural technologies like vertical farming is expected to increase, driving the market's gradual expansion.

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Mexico Vertical Farming Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitutes

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Growth Mechanism

      1. 2.1.1 Aeroponics

      2. 2.1.2 Hydroponics

      3. 2.1.3 Aquaponics

    2. 2.2 Structure

      1. 2.2.1 Building-Based Vertical Farms

      2. 2.2.2 Shipping Container-Based Vertical Farms

    3. 2.3 Components

      1. 2.3.1 Lighting

      2. 2.3.2 Climate Control

      3. 2.3.3 Sensors

      4. 2.3.4 Other Components

    4. 2.4 Crop Types

      1. 2.4.1 Tomato

      2. 2.4.2 Berries

      3. 2.4.3 Lettuce and Leafy Vegetables

      4. 2.4.4 Pepper

      5. 2.4.5 Cucumber

      6. 2.4.6 Microgreens

      7. 2.4.7 Other Crop Types

Mexico Vertical Farming Market Size FAQs

The Mexico Vertical Farming Market size is expected to reach USD 318.11 million in 2024 and grow at a CAGR of 10% to reach USD 512.31 million by 2029.

In 2024, the Mexico Vertical Farming Market size is expected to reach USD 318.11 million.

Mexico Vertical Farming Market Report Snapshots

Mexico Vertical Farming Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)