Market Highlights:
Vertical farming can be explained as a concept or practice by which crops are grown inside a controlled environment. It is basically the method by which crops are grown without soil and water. Also, in vertical farming crops are stacked in layers. Vertical farming comes in different shapes and sizes and they use various mechanisms such as hydroponics, aeroponics, among others.
The reasons contributing to the growth of vertical farming market are better quality of food, increasing population, less dependency on water & soil and increasing demand for food. Also, adoption of new technologies, zero usage of pesticides & fertilizers and implementation of artificial lights are expected to boost the market over the forecast period. However, factors such as initial investments expensive in the urban locations, energy consumption of artificial lighting is more and production of high value crops are hindering the growth of the vertical farming market.
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Major Key Players
- Agrilution (Germany),
- Aerofarms (U.S.),
- Indoor Harvest Corporation (U.S.),
- Koninklijke Philips N.V. (Netherlands),
- Everlight Electronics co.(Taiwan),
- Illumitex, Inc. (U.S.),
- Sky Greens (Singapore),
- Hort Americas (U.S.),
- Urban Crop Solutions (Belgium)
are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Vertical Farming Market.
According to MRFR, The Global Vertical Farming Market is expected to reach approximately USD 6 billion by the end of 2022 with 21% CAGR during forecast period 2016-2022
Industry/ Innovation/ Related News:
Osram has acquired Munich-based start-up agrilution as to stimulate and manage plant growth and for cultivating plants in greenhouses or indoor spaces. The company is planning to use special LED technology which will provides an optimal growing environment by automatically regulating temperature, watering, and lighting conditions.
Indoor Harvest Corp has announced an alliance with One World Business Finance. With this announcement, the company is planning to expand their business offering towards Vertical Farm Development Financing across North America.
Aero Farms is using new technology and high-tech innovation and the latest science, innovation is revolutionizing for vertical farming. With these with innovation and changing industries to incentivize creating the new economic opportunities as well as producing green farming.
Competitive Analysis
The profitable circumstances accessible in this market are being applied by candidates who are trying to increase their market coverage by focused development which can encourage the expansion of this business sector. The businesses in this trade area are combining their resources to attain their vision for achieving a substantial portion of the business as early as possible. This has raised the possibilities for the approaching growth period significantly. The merchandise that are being provided presently differ greatly because of the rationale of the robust pace of technological discoveries. This consequence is productive for companies so they can aim to uphold their commercial enterprise’s liquidity to take the most effective decisions in terms of strategy execution and designing.
Regional Analysis
Vertical Farming Global Market is expected to be dominated by North America with the largest market share due to increasing population, employment generation and adoption of new technological solutions in this regions, and therefore accounting for a huge economy by 2022. Vertical Farming Market in Asia-Pacific market is expected to grow at a considerable rate of CAGR. The Asia Pacific region includes Chin, India and Japan is expected to boost this region majorly due to urbanization, less of fertile land and more investments for developing vertical farming systems. Furthermore, the emergence of China as the major manufacturing hub is increasing the scope of Vertical Farming solutions in the region.
Segments:
For the purpose of this study, Market Research Future has segmented the market of vertical farming into component, type, crop type and region.
Component
- Hardware
- Software
- Services
Type
- Hydroponic
- Aeroponic
- Aquaponic
Crop Type
- Broccoli
- Spinach
- Cucumbers
- Tomatoes
- Lettuce
- Peppers
- Strawberries
- Others
Region
- North-America
- Europe
- Asia-Pacific
- RoW
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Intended Audience
- Manufacturers
- Distributors
- Research firms
- Consultancy firms
- Software Developers
- Semiconductor Manufacturers
- End-user sectors
- Technology Investors
LIST OF TABLES
TABLE 1 VERTICAL FARMING MARKET, BY COMPONENT
TABLE 2 VERTICAL FARMING MARKET, BY TYPE
TABLE 3 VERTICAL FARMING MARKET, BY CROP TYPE
TABLE 4 VERTICAL FARMING MARKET, BY GEOGRAPHY
TABLE 5 NORTH AMERICA VERTICAL FARMING MARKET, BY COMPONENT
TABLE 6 NORTH AMERICA VERTICAL FARMING MARKET, BY TYPE
TABLE 7 NORTH AMERICA VERTICAL FARMING MARKET, BY CROP TYPE
TABLE 8 U.S VERTICAL FARMING MARKET, BY COMPONENT
Continued…….
LIST OF TABLES
TABLE 1 VERTICAL FARMING MARKET, BY COMPONENT
TABLE 2 VERTICAL FARMING MARKET, BY TYPE
TABLE 3 VERTICAL FARMING MARKET, BY CROP TYPE
TABLE 4 VERTICAL FARMING MARKET, BY GEOGRAPHY
TABLE 5 NORTH AMERICA VERTICAL FARMING MARKET, BY COMPONENT
TABLE 6 NORTH AMERICA VERTICAL FARMING MARKET, BY TYPE
TABLE 7 NORTH AMERICA VERTICAL FARMING MARKET, BY CROP TYPE
Continued…….
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