Global Vertical Farming Market is valued approximately USD 4.10 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 22 % over the forecast period 2020-2027. Vertical Farming is a process of farming in which the crops are grown in vertically stacked layers, it includes soilless farming techniques like hydroponics, aquaponics and aeroponics. The structures that are generally chosen for vertical farming systems are house, buildings, shipping containers, abandoned mine shafts and others. The increase in adoption of organic food due to increase in use of pesticides in traditional farming, rising use of Internet of Things (IoT) sensors for producing crops, effectiveness of vertical farming in maintaining reliability and stability of crop in adverse conditions, less use of water, low dependence on agricultural labors and lesser need for agrochemicals are the factors expected to fuel the demand . For instance, in 2019, according to the Organic Trade Association, sale of U.S. organic industry increased by around 5%.. However, few numbers of varieties and high initial investment will impedes the growth of the market over the forecast period of 2020-2027. Also, increasing use of big data, predictive analytics and rising automation in agriculture is likely to increase the market growth during the forecast period.
The regional analysis of global Vertical Farming market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the expansion of commercial and small-scale vertical farms. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising demand of organic food would create lucrative growth prospects for the Vertical Farming market across Asia-Pacific region.
Major market player included in this report are:
4D Bios Inc.
AeroFarms
Freight Farms
Green Sense Farms, LLC
BrightFarms Inc.
Everlight Electronics Co., Ltd.
Agrilution Systems GmbH
Signify
Osram
Sky Greens
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Structure:
Shipping Container
Building-based
By Offering:
Lighting
Hydroponic Components
Climate Control
Sensors
By Growing Mechanism:
Hydroponics
Aeroponics
Aquaponics
By Fruits, Vegetables, & Herbs:
Tomato
Lettuce
Bell & Chili Peppers
Strawberry
Cucumber
Leafy Greens
Herbs
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2017, 2018
Base year - 2019
Forecast period - 2020 to 2027
Target Audience of the Global Vertical Farming Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
