Vertical Farming Market 2019 Global Analytical Overview by Key Leaders: Aerofarms, Indoor Harvest, Koninklijke Philips, Everlight Electronics, Illumitex, Sky Greens, Hort Americas

Market Highlights:

According to Market Research Future (MRFR)’s recent study, the global vertical farming market has been projected to proliferate at a CAGR of 21% during the forecast period 2016 to 2022. The report further highlights that the global market is anticipated to scale a valuation of USD 6 Bn towards the end of the assessment period. Vertical farming is a new development in the urban farming methods where cultivation is done in a controlled environment ensuring optimum utilization of limited resources. The increasing demand for food over the world is likely to augment the market over the next couple of years.

The exponentially growing population in conjunction with depleting resources has led to the accelerated expansion of the global vertical farming market. In addition, it also assures the provision for organic food crops as it doesn’t use pesticides and fertilizers. The growing awareness about the adverse effects of these pesticides and fertilizers on health is poised to expedite the proliferation of the vertical farming market in the foreseeable future.

The developments in the methods and techniques such as usage of artificial lights, cultivating aquaculture as a source of water, etc. are anticipated to catalyze the expansion of the vertical farming market in the forthcoming years. On the flip side, high capital investments, massive energy consumption, etc. are likely to check the expansion of the market over the next few years.

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Major Key Players

• Agrilution (Germany),
• Aerofarms (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)
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

Industry/ Innovation/ Related News:
In March 2019, University of Wisconsin Oshkosh’s Polk Library has confirmed that it will be sending its hydroponically grown lettuce to the food pantry.
In March 2019, three Northern Nevada schools have included hydroponics in their curriculum for teaching science to students.
In March 2019, founders of Yukon-based North Star Agriculture have announced their plan of starting the building of aquaponics facility by this spring. The facility would leverage geothermal energy for raising fish and cultivating crops indoors.
In February 2019, Canada’s Stewart Farms has initiated the construction of a 100,000 square foot vertical aquaponics facility in St. Stephen which would be used for growing medical cannabis for national and international markets.
In February 2019, Autocrop, Verona, has announced that is using LED lighting, hydroponics, and vertical farming for cultivating crops indoors.

Regional Analysis:
By region, the global vertical farming market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America is a major market for vertical farming projected to secure the forefront position in the global marketplace over the assessment period. The primary factor responsible for catalyzing the growth of the vertical farming market in the region is the early adoption of technological advancements. In addition, the growing population and increasing employment generation are other factors likely to influence the expansion of the market positively in the upcoming years.

Asia Pacific is presumed to expand at the highest CAGR across the forecast period owing to rapid developments in urban farming methods. The region is witnessing exponential growth of population coupled with the rising need for food production. This, in turn, has intensified the demand for a proportionate increase in the supply of food which is expected to dictate the growth trajectory of the regional vertical farming market. China and Japan are the major country-level markets of the region.

Segmentation:
By component, the global vertical farming market has been segmented into hardware, software, and services.
By type, the vertical farming market has been segmented into hydroponics, aeroponics, and aquaponics.
By crop type, the global vertical farming market has been segmented into lettuce, peppers, broccoli, cucumber, strawberry, tomato, spinach, and others.

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

LIST OF TABLES
TABLE 1 VERTICAL FARMING MARKET, BY COMPONENT
TABLE 2 VERTICAL FARMING MARKET, BY TYPE
TABLE 3 VERTICAL FARMING MARKET, BY CROP TYPE
TABLE 4 VERTICAL FARMING MARKET, BY GEOGRAPHY
TABLE 5 NORTH AMERICA VERTICAL FARMING MARKET, BY COMPONENT
TABLE 6 NORTH AMERICA VERTICAL FARMING MARKET, BY TYPE
TABLE 7 NORTH AMERICA VERTICAL FARMING MARKET, BY CROP TYPE
Continued…….

LIST OF TABLES
TABLE 1 VERTICAL FARMING MARKET, BY COMPONENT
TABLE 2 VERTICAL FARMING MARKET, BY TYPE
TABLE 3 VERTICAL FARMING MARKET, BY CROP TYPE
TABLE 4 VERTICAL FARMING MARKET, BY GEOGRAPHY
TABLE 5 NORTH AMERICA VERTICAL FARMING MARKET, BY COMPONENT
TABLE 6 NORTH AMERICA VERTICAL FARMING MARKET, BY TYPE
Continued…….

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This release was published on openPR.