Worldwide Current Trend and Future Growth Vertical Farming Market by Growth Mechanism (Hydroponics, Aeroponics, and Aquaponics), Structure (Building Based and Shipping Container), Offering (Hardware, Software, and Service), Crop Type, and Geography

The global vertical farming market is anticipated to reach USD 9.9 billion by 2025, according to a new report by Grand View Research, Inc. The increased use of Internet of Things (IoT) sensors, for producing crops, is likely to spur the market demand over the forecast period. The information obtained from the sensors is stored on the cloud and analyzed to perform the required actions. The growing automation in agriculture and increasing use of big data & predictive analytics, for maximizing yields, are also likely to drive the market.

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Vertical farming is the latest innovation in food production destined to reinvent modern agriculture practices across the world. Considered as a part of precision farming, vertical farming is picking up steam across people living in cities and suburbs. Fuelled by the soaring demand for organic foods worldwide and declining space to support traditional agriculture, vertical farming techniques have gained popularity over the years. Steady pace of urbanization in various developing nations has led a large number of health-conscious urban dwellers to cultivate crops indoors where the environmental conditions can be regulated or controlled. Owing to competing land resources and unpredictability of weather conditions, researchers and entrepreneurs are persistently seeking modern and advanced agricultural technologies and techniques to meet global demand for food.

Vertical framing consists of producing crops in vertical stacked layers of plant beds. It mostly relies on hydroponics or aeroponics. Hydroponics allows agriculturists the benefit of low nutrient and water wastage, while maximizing the yield. The sunlight required for plant’s growth is usually replaced by LED lighting that provides the required electromagnetic spectrum for photosynthesis; the preference of LED over traditional lighting systems is driven by minimal heat signatures. A wide range of technologies such as grow lights and other agricultural innovations like controlled-environment agriculture (CEA) technology make vertical farming popular. These technologies have increased the efficiency of multilevel indoor farms to better yields. Though the vertical farming market is safely banking on the steady growth of organic foods businesses, the technology is at best considered emerging by big players. Several food manufacturers and retailers who invest substantially in urban agriculture offer indirect impetus to various vertical farming projects, especially in developed markets, such as in Japan and the U.S.

Growing focus towards efficient production of fruits and vegetables :

The growing inclination towards efficient production of fruits and vegetables in environment friendly conditions, irrespective of climatic conditions, is driving the growth of vertical farming market. It minimizes the transportation time of fresh foods starting from harvesting, till it reaches the consumers, which is one of the major factors boosting the growth for this market.

Growing production of biopharmaceutical products :

The vertical farming market is gaining traction as many pharmaceutical companies are adopting this type of farming to produce a variety of medicinal plants used in biopharmaceutical products. Companies are developing their own patented products from raw seed and further provide proprietary products to the medicinal, nutraceutical and cosmetic industries, which helps them in expanding their customer base.

High investment in the vertical farming :

High price of farmscraper is adversely impacting the growth of vertical farming industry. Most of the hardware used in the industry are very costly, due to their advanced features such as enabled lights and temperature control. The cost of organic pesticides is also increasing, which is driving the total cost of investment. The high cost of hardware makes it difficult for small and mid-sized enterprises to implement them, which is hindering the growth of the vertical farming market. The rising water cost along with increasing electricity price is also hindering the growth of the market, across the globe.

Highly consolidated market :

The vertical farming industry is moderately competitive, with players offering advanced technology solutions to cultivate specific crops. Some of the major players in the industry are Koninklijke Philips N.V., AeroFarms LLC, Sky Greens Pte. Ltd, Illumitex Inc, Everlight Electronics Co. Ltd, Hort Americas, Agrilution GmbH, American Hydroponics Systems Inc., Urban Crop Solutions Inc., and Vertical Farm Systems.

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Highlights of the report :

A detailed analysis of key segments of the market
Recent developments in the market’s competitive landscape
Detailed analysis of market segments up to second or third level of segmentation
Historical, current, and projected future valuation of the market in terms of revenue and/or volume
Key business strategies adopted by influential market vendors
Outline of the regulatory framework surrounding and governing numerous aspects of the market
Growth opportunities in emerging and established markets
Recommendations to market players to stay ahead of the competition

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TOC :
Global Vertical Farming Market Professional Survey Report 2018
1 Industry Overview of Vertical Farming
1.1 Definition and Specifications of Vertical Farming
1.1.1 Definition of Vertical Farming
1.1.2 Specifications of Vertical Farming
1.2 Classification of Vertical Farming
1.2.1 Aeroponics
1.2.2 Hydroponics
1.2.3 Other
1.3 Applications of Vertical Farming
1.3.1 Farms
1.3.2 Buildings
1.3.3 Application 3
1.4 Market Segment by Regions
1.4.1 North America
1.4.2 Europe
1.4.3 China
1.4.4 Japan
1.4.5 Southeast Asia
1.4.6 India

2 Manufacturing Cost Structure Analysis of Vertical Farming
2.1 Raw Material and Suppliers
2.2 Manufacturing Cost Structure Analysis of Vertical Farming
2.3 Manufacturing Process Analysis of Vertical Farming
2.4 Industry Chain Structure of Vertical Farming

3 Technical Data and Manufacturing Plants Analysis of Vertical Farming
3.1 Capacity and Commercial Production Date of Global Vertical Farming Major Manufacturers in 2017
3.2 Manufacturing Plants Distribution of Global Vertical Farming Major Manufacturers in 2017
3.3 R&D Status and Technology Source of Global Vertical Farming Major Manufacturers in 2017
3.4 Raw Materials Sources Analysis of Global Vertical Farming Major Manufacturers in 2017

4 Global Vertical Farming Overall Market Overview
4.1 2013-2018E Overall Market Analysis
4.2 Capacity Analysis
4.2.1 2013-2018E Global Vertical Farming Capacity and Growth Rate Analysis
4.2.2 2017 Vertical Farming Capacity Analysis (Company Segment)
4.3 Sales Analysis
4.3.1 2013-2018E Global Vertical Farming Sales and Growth Rate Analysis
4.3.2 2017 Vertical Farming Sales Analysis (Company Segment)
4.4 Sales Price Analysis
4.4.1 2013-2018E Global Vertical Farming Sales Price
4.4.2 2017 Vertical Farming Sales Price Analysis (Company Segment)

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