South Korea Vertical Farming Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Growing Mechanism (Aeroponics, Hydroponics, and Aquaponics), and South Korea Vertical Farming Market Insights, Industry Trend, Forecasts to 2035

  South Korea Vertical Farming Market Insights Forecasts to 2035

• The South Korea Vertical Farming Market Size Was Estimated at USD 332.0 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 22.11% from 2025 to 2035
• The South Korea Vertical Farming Market Size is Expected to Reach USD 2987.2 Million by 2035

According to a Research Report Published by Spherical Insights & Consulting, the South Korea Vertical Farming Market is Anticipated to Reach USD 2987.2 Million by 2035, Growing at a CAGR of 22.11% from 2025 to 2035. Population increases, government incentives, the scarcity of arable land, and the rising demand for fresh and high-quality food are all contributing to the market's expansion.

Market Overview

The developing sector centered on growing crops in vertically stacked layers, frequently inside, using advanced techniques like hydroponics, aeroponics, or aquaponics, and controlled surroundings is known as the vertical farming market. By increasing food production in constrained areas, this creative method lessens the need for conventional farms and their negative effects on the environment. Vertical farms are ideal for metropolitan areas or places with a shortage of arable land because they require a lot less space. Vertical farms’-controlled settings lessen the need for pesticides and herbicides, making food production safer and more environmentally friendly. To promote the use of contemporary farming techniques like vertical farming, the government provides tax breaks and subsidies.

Report Coverage

This research report categorizes the market for South Korea vertical farming market based on various segments and regions forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea vertical farming market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment South Korea vertical farming market.

Driving Factors

The increasing urbanization, limited arable land, and the need for sustainable food production. Rising demand for fresh, pesticide-free produce and advancements in controlled environment agriculture technologies, such as LED lighting and hydroponics, further support market growth. Government support for smart agriculture and consumer interest in locally grown, high-nutrient food also contribute significantly. Additionally, vertical farming offers year-round crop production with reduced water usage, aligning with eco-friendly and food security goals.

Restraining Factors 

South Korea’s vertical farming market faces notable restraints including high initial investment and operating costs for infrastructure, energy-intensive LED lighting and climate control systems, technical complexity coupled with a skilled workforce shortage, and limited crop variety suited for indoor cultivation.                

Market Segmentation

The South Korea vertical farming market share is classified into component and growing mechanism.

• The hardware segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea vertical farming market is segmented by component into hardware, software, and Services. Among these, the hardware segment held a significant share in 2024 and is expected to grow at a substantial CAGR during the forecast period. The high demand for advanced equipment like LED grow lights, climate control systems, and hydroponic structures. These technologies are essential for optimizing crop yield and efficiency.

• The aeroponics segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea vertical farming market is segmented by growing mechanism into aeroponics, hydroponics, and aquaponics. Among these, the aeroponics segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Its efficient use of water and nutrients, faster plant growth, and space optimization. Its compatibility with urban farming and lower dependency on soil make it ideal for high-density environments, supporting its projected strong growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea vertical farming market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Farm8
• N.Thing
• ALGA Farmtech
• NEXTON
• Green Labs
• ioCrops
• Mirai Farms
• Urban Farm Korea
• Agro-Heritage
• K-Farm Tech
• Freshcode
• Others

Recent Developments:

• In June 2025, Korean agritech innovator Farmers Lab Ltd has unveiled its BK Conveyor Culture (BKCC), a next-generation vertical farming system designed to solve key limitations of traditional fixed-rack setups. BKCC employs a horizontal conveyor structure that rotates trays around a central axis, delivering labor-saving efficiency and simplified daily operations.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea vertical farming market based on the below-mentioned segments:

South Korea Vertical Farming Market, By Component

• Hardware
• Software
• Services

South Korea Vertical Farming Market, By Growing Mechanism

• Aeroponics
• Hydroponics
• Aquaponics