Vertical Farming Industry 2018 Global Share, Emerging factors, Trend, Segmentation and Forecast to 2022

Market Highlights:

Vertical farming has developed in a major way in recent times due to the increase in the level of discovery alternative methods of cultivation. Market Research Future which focusses on market reports connected to electronics & semiconductors sector amongst others recently made available a report on this sector. The vertical farming market globally is projected to touch USD 6 billion approximately by the end of 2022 with a 21 per cent CAGR during the forecast period.

Scarcity of fertile land and limited resources like water have prompted an increased level of focus on the concept of vertical farming. The increased awareness and popularity of vertical farming practices is causing astounding growth in the size of the market. As population has increased at a rapid rate in urban centers, vertical farming has emerged as acceptable alternative to gain access to fresh and quality produce. High levels of investment and limited crop types that can be grown may limit the growth potential of the market.
Although, Vertical Farming is a viable form of agricultural practice that supports effective and efficient harvest with only 5% of water usage for five times more the yield, with up to 350 times more greens than conventional farms of similar size, is yet not cost effective. Vertical Farming requires an initial capital investment of $200 to 500 million.

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Major Key Players

• Agrilution (Germany),
• Aero farms (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),
• Mouser Electronics (U.S),
• Bright Agrotech. (U.S),
• Indoor Harvest Corp (U.S)
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

Competitive Analysis
The profitable circumstances accessible in this market are being applied by candidates who are trying to increase their market coverage by focused development which can encourage the expansion of this business sector. The businesses in this trade area are combining their resources to attain their vision for achieving a substantial portion of the business as early as possible. This has raised the possibilities for the approaching growth period significantly. The merchandise that are being provided presently differ greatly because of the rationale of the robust pace of technological discoveries. This consequence is productive for companies so they can aim to uphold their commercial enterprise's liquidity to take the most effective decisions in terms of strategy execution and designing.

Restraining factors
However, overshadowing these drivers to some extent, are expensive high initial investments in urban regions. Producing high-value crops with meager capital investment is quite challenging. On the other hand, after doing extensive research, market giants invest heavily to take advantage of the high potential the sector possesses. For instance, in 2018, Masayoshi Son’s Vision Fund invested in a vertical farming start-up Plenty Inc. in the United Arab Emirates. The investment amounted to USD 200 million.

Regional Analysis
Vertical Farming Market is expected to be dominated by North America with the largest market share due to increasing population, employment generation and adoption of new technological solutions in this regions, and therefore accounting for a huge economy by 2023. Vertical Farming Market in Asia-Pacific market is expected to grow at a considerable rate of CAGR. The Asia Pacific region includes Chin, India and Japan is expected to boost this region majorly due to urbanization, less of fertile land and more investments for developing vertical farming systems. Furthermore, the emergence of China as the major manufacturing hub is increasing the scope of Vertical Farming solutions in the region.

Industry Segments

Market Research Future has segmented the market of vertical farming into component, type, crop type and region for the purpose of the study.
By Component: Software, Hardware, Services
By Type: Aquaponic, Aeroponic and Hydroponic. The hydroponic type accounts for the prime market share in the vertical farming market globally.
By Crop Type: Strawberries, Spinach, Cucumbers, Broccoli, Peppers, Lettuce, Tomatoes and Others
By Region: North-America, Europe, Asia-Pacific and RoW

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Intended Audience
• Manufacturers
• Distributors
• Research firms
• Consultancy firms
• Software Developers
• Semiconductor Manufacturers
• End-user sectors
• Technology Investors

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This release was published on openPR.