Vertical Farming Market By Components (Irrigation component, Lighting, Sensor, Climate control, Building material) By Growth Mechanism (Aeroponics, Hydroponics, Aquaponics) - Global size Analysis and Industry Forecast, 2018-2023

Vertical farming is an extensive and revolutionary approach, to accentuate agricultural productivity. We are living in a time zone where we are invariably threatened with extreme water scarcity. Quite contrary to conventional farming methods, witnessing acute wastage of water and soil prone to detrimental pesticides, the production of crops is carried out in vertical layers and water is recycled at every level with no scope for misuse.

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The attractive benefits of vertical farming - economically sensible, tech - savy and efficient, is garnering huge investments and countries like Singapore are playing a key role in boosting it.

This report aims to provide detailed insights on the factors leading to the growth of the vertical farming market- its demand and supply sides and the various trends in the market witnessed in other regions and countries.

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Global Vertical Farming Market was valued at USD 1.84 billion in the year 2017. Global Vertical Farming Market is further estimated to grow at a CAGR of 22.61% from 2018 to reach USD 6.25 Billion by the year 2023. The global population is increasing rapidly with increase in demand for food ultimately building pressure on the resources. Implementing vertical farming i.e. growing food in skyscrapers might help overcome these problems.

Green Sense Farms, LLC (U.S.), Illumitex, Inc. (U.S.), American Hydroponics (U.S) and AeroFarms (U.S.) are some of the Key Players in the Global Vertical Farming market. Acquisitions, collaboration, and new product development are their key business strategy to gain market share. APAC followed by North America region holds the highest market share in 2017 and is considered as the fastest growing market in the estimated period. The U.S. is the major market in 2017 at country level and it is further anticipated to grow at a steady pace in the next 5 years.

Drivers

• Fast increasing global population and food consumption
• Returning farmland to nature
• Preservation of Water & Energy

Restrain

• Limited range of crops suitable for vertical farming
• High start-up costs

Opportunity

• Urban development
• Diminishing supplies of arable land and water.

Challenge

• Use of Artificial Lights
• Disputes with the USDA Organic Certification

In Global Vertical Farming Market of all the included components lighting device among irrigation component, sensor, climate control, building material and others and hydroponics as growth mechanism among aeroponics and hydroponics is expected to hold the highest market share during the estimated periodareThe growth is mainly due to Growing Population, speedy adoption of advanced farming, with increasing technological advancement in robotics and automation

On the other hand, Shipping Container Vertical Farms by growth structure is expected to grow at the highest CAGR during the year 2017-2023. Majorly because they’re compact and self-contained, offers easiness of shipment, cheap and readily available. Further, the global population is increasing rapidly with increase in demand for food ultimately building pressure on the resources. Implementing vertical farming i.e. growing food in skyscrapers might help overcome these problems. The global Vertical Farming market was valued at USD 1.5 billion in the year 2016. The global Vertical Farming market is further estimated to grow at a CAGR of 21.65% from 2018 to reach USD 6.3 billion by the year 2023. APAC followed by North America region holds the highest market share in 2016 with North America region is considered as the fastest growing market in the forecasted period. Green Sense Farms, LLC (U.S.), Illumitex, Inc. (U.S.), American Hydroponics (U.S) and AeroFarms (U.S.) are some of the key Players in the Global Vertical Farming market.

Key Benefits for Stakeholders

• Vertical farming components Manufacturers, Distributors, and Retailers
• Technology Standards Organizations, Forums, Alliances and Associations
• End-use industries (Builders)
• Technology investors and providers

By Components

• Irrigation component
• Lighting
• Sensor
• Climate control
• Building material
• Others

By Growth Mechanism

• Aeroponics
• Hydroponics
• Aquaponics

By Growth Structure

• Building-Based Vertical Farms
• Shipping Container Vertical Farms

By Region

• North America
• Europe
• Asia-Pacific
• RoW

Key players

• Aerofarms
• Illumitex, Inc.
• Koninklijke Philips N.V.
• Sky Greens
• Agrilution
• Everlight Electronics Co., Ltd.
• Green Sense Farms, LLC
• American Hydroponics
• Vertical Farm Systems
• Urban Crops

(Another brief information of 15 companies will be provided in the report)

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