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.
Geographically, North America accounted for the largest market share in the global vertical farming market, whereas Asia-Pacific is expected to grow at a fast pace over the forecast period, 2016-2022.
Get a Sample report @ https://www.marketresearchfuture.com/sample_request/2779
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:
In March 2019, University of Wisconsin Oshkosh’s Polk Library has confirmed that it will be sending its hydroponically grown lettuce to the food pantry.
In March 2019, three Northern Nevada schools have included hydroponics in their curriculum for teaching science to students.
In March 2019, founders of Yukon-based North Star Agriculture have announced their plan of starting the building of aquaponics facility by this spring. The facility would leverage geothermal energy for raising fish and cultivating crops indoors.
In February 2019, Canada’s Stewart Farms has initiated the construction of a 100,000 square foot vertical aquaponics facility in St. Stephen which would be used for growing medical cannabis for national and international markets.
In February 2019, Autocrop, Verona, has announced that is using LED lighting, hydroponics, and vertical farming for cultivating crops indoors.
Regional Analysis:
By region, the global vertical farming market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America is a major market for vertical farming projected to secure the forefront position in the global marketplace over the assessment period. The primary factor responsible for catalyzing the growth of the vertical farming market in the region is the early adoption of technological advancements. In addition, the growing population and increasing employment generation are other factors likely to influence the expansion of the market positively in the upcoming years.
Asia Pacific is presumed to expand at the highest CAGR across the forecast period owing to rapid developments in urban farming methods. The region is witnessing exponential growth of population coupled with the rising need for food production. This, in turn, has intensified the demand for a proportionate increase in the supply of food which is expected to dictate the growth trajectory of the regional vertical farming market. China and Japan are the major country-level markets of the region.
Segmentation:
By component, the global vertical farming market has been segmented into hardware, software, and services.
By type, the vertical farming market has been segmented into hydroponics, aeroponics, and aquaponics.
By crop type, the global vertical farming market has been segmented into lettuce, peppers, broccoli, cucumber, strawberry, tomato, spinach, and others.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/vertical-farming-market-2779
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
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
Continued…….
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/vertical-farming-market-2779