Singapore Vertical Farming Market Overview, 2029

Singapore is set to witness consistent population growth in the coming years, which will drive up the demand for food production and require a greater emphasis on boosting agricultural output. As a highly populated city-state with limited land and natural resources, Singapore encounters distinct challenges in maintaining food security. The government has set an ambitious target to locally produce at least 30% of its nutritional needs by 2030, marking a substantial rise from current figures. To reach this objective, there is a strong focus on implementing innovative agricultural technologies that improve both productivity and sustainability. Techniques such as vertical farming, hydroponics, and aquaponics are becoming increasingly popular, facilitating efficient crop cultivation in urban environments. These approaches make optimal use of space and can be incorporated into high-rise structures, allowing for continuous production while conserving water. Furthermore, smart farming technologies, including data analytics, IoT sensors, and automation, are being utilized to enhance resource management and monitor crop health. These innovations not only boost yields but also decrease dependence on imports and strengthen resilience against supply chain disruptions.

According to the research report "Singapore Vertical Farming Market Overview, 2029," published by Bonafide Research, the Singapore Vertical Farming market is anticipated to grow at more than 26.56% CAGR from 2024 to 2029. The growth of vertical farming in Singapore has gained significant momentum, driven by the city-state's limited land availability and a strong commitment to enhancing food security. With less than 1% of its land suitable for traditional agriculture, Singapore has embraced vertical farming as a sustainable solution to meet its nutritional needs. The government has set an ambitious goal under the "30 by 30" initiative, aiming to produce 30% of its nutritional requirements locally by 2030. This initiative has spurred investments in high-tech farming solutions, including hydroponics and aeroponics, which allow for year-round crop production in controlled environments. Companies like Sky Greens and ComCrop are leading the way, utilizing innovative technologies that significantly increase yield while using minimal resources—Sky Greens' system reportedly produces ten times more than traditional farms in the same area.

In Singapore, the vertical farming market is primarily segmented into building-based and container-based systems, each addressing the unique challenges of urban agriculture. Building-based vertical farms capitalize on existing infrastructure, such as rooftops and repurposed warehouses, to create multi-layered growing environments. This approach not only maximizes limited urban space but also allows for the integration of advanced technologies like automated climate control and LED lighting, enhancing efficiency and year-round production. The trend in this segment is driven by Singapore's commitment to food security and sustainability, aiming to increase local food production significantly. Conversely, container-based vertical farming is gaining momentum due to its flexibility and mobility. Utilizing shipping containers as modular farms allows for quick deployment in various urban locations, making it an ideal solution for land-scarce environments. This method supports decentralized food production while minimizing transportation costs and environmental impact. Both segments are experiencing increased interest from government initiatives aimed at promoting agri-tech innovations and sustainable practices.

The reason hydroponics is the most popular growing method is that it uses less water and can generate big amounts of produce in small areas. Hydroponic systems are now essential to urban agriculture in Singapore because of the island nation's land limits and the demand for productive farming practices. In Singapore's urban environments, leafy greens and herbs are highly sought-after, and this technology makes cultivating them especially successful. Even though it grows more slowly, aquaponics is becoming more popular in specialty farming projects due to its benefits for sustainability. Aquaponics is a closed-loop system that combines fish farming with plant cultivation to recycle nutrients while reducing waste. This technology offers an environmentally beneficial approach to food production, which aligns with Singapore's sustainability initiatives. Another cutting-edge agricultural technique that is gaining popularity is aeroponics. Its capacity to supply nutrients straight to plant roots with the least amount of water possible is in line with Singapore's objectives of conserving water and enhancing agricultural output. Aeroponics is becoming a popular choice for growing high-value crops since it is being used in urban farms and high-tech agricultural projects that aim to improve resource efficiency and increase crop growth rates.

COVID-19 Impact
The COVID-19 pandemic had a significant impact on the vertical farming market in the Singapore. Disruptions in traditional agricultural supply chains, labor shortages, and increased concerns about food security drove interest in vertical farming as a more resilient and sustainable alternative. The crisis highlighted the need for local, controlled-environment agriculture, reducing reliance on long-distance food transportation. Additionally, the surge in consumer demand for fresh, healthy, and locally grown produce spurred investment in vertical farming technologies. However, supply chain challenges and economic uncertainty also delayed some projects, creating both opportunities and hurdles for the market's growth.



Considered in this report
• Geography: Singapore
• Historic Year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Singapore Vertical Farming Market with its value and forecast along with its segments
• Application wise vertical farming distribution
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Based on Growth Mechanism:
• Hydroponics
• Aeroponics
• Aquaponics

Based on structure type:
• Building based-vertical farming
• Shipping based-vertical farming

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the verticle farming industry, food & beverage industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.