Mexico Vertical Farming Market Size (2024 - 2029)

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).

• Mexico's vertical farming market is in its early stages but is evolving swiftly. The country's diverse agricultural landscape has resulted in stagnant productivity growth in recent years. Vertical farming emerges as a sustainable solution to boost agricultural productivity. Urban centres, especially Mexico City, grappling with population density and food supply challenges, are at the forefront of adopting these techniques. Additionally, 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, tomatoes, cucumber, etc.
• In Mexico, most indoor farms predominantly cultivate leafy vegetables and microgreens. However, as research and development expand into diverse produce varieties, this trend is poised for swift transformation. Companies are at the forefront of vertical farming, imparting systems and knowledge to the next generation of agronomists. For instance, in 2021, Karma Verde Fresh partnered with the Inter-American Institute for Cooperation in Agriculture and launched a Vertical Agriculture Tech and Trainer Certification Program in Mexico City. As part of this initiative, the company set up vertical farming systems in universities throughout Mexico from 2021 to 2023. In parallel, the Mexican government is actively embracing new technologies and updating university curricula.
• Moreover, controlled environment agriculture (CEA) fosters crop growth while minimizing pesticide use, leading to healthier produce. This approach aligns with the growing vigilance of consumers regarding food safety and environmental issues. Furthermore, technology providers' market expansions are bolstering this growth. In 2022, in collaboration with local growers, 30MHz a company specializing in products and services for vertical farming startups introduced cost-effective solutions in Mexico. Having established a presence in Mexico for a while, 30MHz continues to deliver budget-friendly technological solutions, empowering growers to enhance their cultivation practices. Thus, the drive for enhanced productivity, combined with technological innovations and a surging demand for vertically farmed produce, propels the market's expansion 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) for the above-mentioned segments.