Vertical Farming Market Innovations, Future Plans and Competitive Landscape By Aerofarms, Plantagon International AB, Urban Crop Solutions, Sky Greens, Green Spirit Farms & More

Vertical Farming Market size will cross USD 13 billion by 2024, Over the last few years, driven by continuous research and development programs, vertical farming market has emerged as one of the most transformative business spaces of the sustainable and smart technology vertical.

Pertaining to the effective applicability of this farming technique to cultivate crops in challenging environmental conditions, the industry has garnered extensive momentum. Developed countries like U.S. have largely adopted vertical farming to upsurge the production of diverse types of vegetables and fruits.

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Report Mainly focuses on the top Manufacturers in global market are given bellow

Hydroponics, Aerofarms, Plantagon International AB, Urban Crop Solutions, Sky Greens, Green Spirit Farms, Spread co Ltd, Mirai Co.Ltd., American Hydroponics etc, EVERLIGHT ELECTRONICS CO., LTD (Taiwan), illumitex (Texas), and Koninklijke Philips NV (Netherlands).

This revolutionary precision agriculture method not only conserves more than 65% water but also saves considerable soil and space. In line with space saving benefits, the countries across MEA are also looking forward to adopting this revolutionary farming method. One of the Dubai based airlines, Emirates has recently invested USD 40 million to build an indoor farm near the airport in collaboration with Crop One Holdings. At the newly planned vertical farming site, it plans to produce pesticide free crops with the use of just a fraction of water.
Equipment

• Lighting systems
• Pumps &irrigation systems
• Tanks
• Sensors
• Pipes
• Environment &climate controllers
• Meters &solutions

Fruits, vegetables &herbs

• Tomato
• Lettuce
• Bell &chili peppers
• Strawberry
• Cucumber
• Leafy greens (excluding lettuce)
• Herbs

Vertical Farming Market By Technology

• Hydroponics
• Aeroponics
Aquaponics

Vertical Farming Market By Application

• Indoor
• Outdoor

Vertical farming market is relatively providing impetus for growth in indoor farming sector due to the advent of LED lights and growth mechanism such as aeroponics, hydroponics etc. Low labor costs, location of vertical farms closer to consumer bases, accessibility to fresh produce, zero pesticides usage are the key vertical farming market dynamics sprouting up the growth.

In terms of technology, hydroponics will continue to hold lion’s share by 2024, However aeroponics and aquaponics growth mechanism are likely to exhibit rapid gains during the forecast period taking up the market share of hydroponics. Less usage of water in comparison with hydroponics and traditional farming methods will spur the market for aeroponics expertise. Rising adoption of small scale aquaponics systems among farmers due to its cost benefits is playing a vital role in the growth of aquaponics technology.

Research and developments across the globe has led the various technology companies to venture into vertical farming on a small scale. New entrants in the vertical farming market are installing prototype models of their system in research institutes and laboratories to study the feasibility of commercialization of this technology. Existing producers of crops from vertical farming are conducting various experiments on their plants to maximize their production and enhance quality of their yield. However, the limitation of crop assortments that can be grown, high energy consumption, high initial set up costs hinder the adoption of vertical farming.

In terms of applications, growing crops in indoor environments such as warehouses, shipping containers and parking areas will account for more than 70% share in 2024 due to space constraints in various urban cities. The burgeoning practice of controlled-environment agriculture (CEA) is set to revolutionize the indoor vertical farming market. Vertical farming in outdoor environments such as skyscrapers, barren lands, desserts etc. is also gaining acceptance though slow on the uptake.

Vertical farming product market consist of fruits, vegetables &herbs, equipment, and aquatic species. Lettuce dominates the overall fruit, vegetables and herbs market. Leafy greens and other herbs are the fastest growing crop types. Raising crab and fish in vertical stacked layers is also being touted as a viable way to farm. Tilapia is one of the most edible fish and dominates the aquatic species segment of the vertical farming product market. Lightning systems will capture the major share in vertical farming equipment market till 2024.

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The above information is provided on a regional and country basis for the following:

• North America (U.S., Canada)
o Europe (Germany, Italy, UK, France, Austria, Spain, Portugal, Ukraine, Switzerland)
o Asia Pacific (Japan, China, India, South Korea, Australia)
o Latin America (Brazil, Mexico)
o MEA (South Africa, Saudi Arabia)

Declining food self-sufficiency rates and arable land in Singapore, China, Japan has led the vertical farming market in Asia-Pacific to grow at a rapid pace. Asia-Pacific vertical farming market is foreseen to surpass USD 4 billion by 2024. Asia’s government is supporting indoor agriculture industry more than any other government globally. The support ranges from national policy initiatives to subsidies. Lack of space in urban environments and water scarcity in Middle East who wants to reduce the reliance on food imports will push for the adoption of vertical farming concept in the region. Netherlands, Belgium, Germany and U.K. are the major European countries opting for vertical farming and constitutes major share of overall European region.
Few Chapters of TOC

Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definitions & forecast parameters
1.2. Data sources
1.2.1. Primary
1.2.2. Secondary

Chapter 2. Executive Summary
2.1. Vertical Farming industry 360° synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Technology trends
2.1.4. Application trends
2.1.5. Regional trends

Chapter 3. Vertical Farming Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distributor channel analysis
3.4. Industry impact forces
3.4.1. Growth drivers
3.4.1.1. Soaring population levels leading to imbalances in food demand and supply
3.4.1.2. Scarcity of farming land: A major natural resource
3.4.1.3. Stabilized crop production irrespective of climatic changes
3.4.1.4. Conservation and recycling of natural resources
3.4.2. Industry pitfalls & challenges
3.4.2.1. Higher initial investments
3.4.2.2. Lack of technical acumen
3.4.2.3. Limitations of crops species grown
3.4.2.4. High energy consumption (light, air conditioning)
3.5. Growth potential analysis, 2016
3.6. Technology & innovation landscape
3.6.1. Patent analysis
3.7. Regulatory trends
3.7.1. U.S.
3.7.2. Asia-Pacific
3.7.3. Europe
3.8. Porter’s analysis
3.9. Competitive landscape analysis, 2016
3.9.1. Strategy dashboard
3.10. PESTEL analysis
3.11. Cost structure analysis

Chapter 4. Vertical Farming Market, By Product
4.1. Vertical farming market share by product, 2016 & 2024
4.2. Equipment
4.2.1. Market estimates and forecasts, 2013 - 2024
4.2.2. Market estimates and forecasts by region, 2013 – 2024
4.2.3. Lighting systems
4.2.3.1. Market estimates and forecasts, 2013 - 2024
4.2.3.2. Market estimates and forecasts by region, 2013 – 2024
4.2.4. Pumps & irrigation systems
4.2.4.1. Market estimates and forecasts, 2013 - 2024
4.2.4.2. Market estimates and forecasts by region, 2013 – 2024
4.2.5. Tanks
4.2.5.1. Market estimates and forecasts, 2013 - 2024
4.2.5.2. Market estimates and forecasts by region, 2013 – 2024
4.2.6. Sensors
4.2.6.1. Market estimates and forecasts, 2013 - 2024
4.2.6.2. Market estimates and forecasts by region, 2013 – 2024
4.2.7. Pipes
4.2.7.1. Market estimates and forecasts, 2013 - 2024
4.2.7.2. Market estimates and forecasts by region, 2013 – 2024
4.2.8. Environment & climate controllers
4.2.8.1. Market estimates and forecasts, 2013 - 2024
4.2.8.2. Market estimates and forecasts by region, 2013 – 2024

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