Vertical Farming Market Expected to Reach $6.4 Billion, By Leading Industry Players AeroFarm, FarmedHere, Illumitex, Inc., Koninklijke Philips N.V., Sky Green, Everlight Electronics, Green Sense Farms, American Hydroponics, Hort Americas, and Agrilution

Allied Market Research recently published a report, titled, "Vertical Farming Market by Component (Irrigation Component, Lighting, Sensor, Climate Control, Building Material, and Others) and by Growth Mechanism (Hydroponics, Aeroponics, and Aquaponics): Global Opportunity Analysis and Industry Forecast, 2017-2025". The report provides in-depth study of the key winning strategies, industry dynamics, market size & estimations, top investment pockets, and competitive landscape. According to the report, the global vertical farming market was pegged at $1.78 billion in 2017 and is estimated to reach $10.25 billion by 2025, registering a CAGR of 24.4% during 2017-2025.

Growing popularity of organic food, rapid urbanization, and depleting rate of arable land for traditional agriculture are expected to boost the growth of the global vertical farming market.

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Increase in consumption of organic food and limited availability of arable land for traditional agriculture drive the growth of the global vertical farming market. However, high initial investment and nascent stage of technologies that are used in vertical farming hamper the market growth. On the contrary, increase in urban population and growing awareness of vertical farming are expected to create lucrative opportunities for the market players in future.

Among components, the lighting segment held the largest share in 2017, contributing about 25.4% of the total revenue, owing to the benefits offered by LED lights over the traditional lighting system, especially cost. However, the climate control segment is expected to register the fastest CAGR of 27.2% during the forecast period, owing to improved food security, disease-free environment, and reduced food wastage. The report also analyzes several components including irrigation component, sensor, building material, and others.

The global vertical farming market is expected to grow in the future, owing to increase in demand for crops and use of effective agriculture techniques. However, the adoption of vertical farming incurs heavy initial investment, which restrains the growth of the market. Moreover, high requirement for skilled workforce adds to the overall cost of cultivators. Aggregate vertical farming method is used to deliver the passive medium and nutrient solution into the plant root, which is more expensive than other agriculture methods. Moreover, farmers are not fully aware of the operational and technological benefits of complete vertical farming method, which acts as one of the key restraining factors for the market.

At present, nearly 54% of the world’s population resides in urban areas and is expected to reach 66% by 2050. The future cities are expected to produce their own food due to increase in global population and decrease in arable land. Vertical farming permits farmers to harvest fresh organic crops in ever-growing cities with additional advantages of high yield, pesticides, and low water requirement. Presently, food supplies from traditional farming are used by the urban population. These farmers use pesticides to achieve higher yield and use preservatives to keep the food fresh, as they deliver it to cities. However, rise in demand for fresh, local, and organic food has fueled the growth of the vertical farming market.

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The report analyzes the leading companies of the global vertical farming market, including AeroFarm, Illumitex, Inc., Sky Green, Green Sense Farms, Hort Americas, FarmedHere, Koninklijke Philips N.V., Everlight Electronics, American Hydroponics, and Agrilution. These players have adopted several marketing strategies such as partnerships, mergers & acquisitions, collaboration, and new product launch to maintain their leading position in the market.

LIST OF FIGURES

FIGURE 1. VERTICAL FARMING MARKET SEGMENTATION
FIGURE 2. GLOBAL VERTICAL FARMING MARKET SNAPSHOT
FIGURE 3. TOP WINNING STRATEGIES, 2015-2017 (%)
FIGURE 4. STRATEGIC RANKING OF COMPANIES, 2015-2017
FIGURE 5. TOP INVESTMENT POCKETS
FIGURE 6. TOP IMPACTING FACTORS, 2016-2025
FIGURE 7. LOW-TO-MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 8. MODERATE-TO-HIGH BARGAINING POWER OF BUYERS
FIGURE 9. LOW THREAT OF SUBSTITUTES
FIGURE 10. MODERATE THREAT OF NEW ENTRANTS
FIGURE 11. MODERATE COMPETITIVE RIVALRY
FIGURE 12. KEY PLAYER POSITIONING, 2016
FIGURE 13. VERTICAL FARMING MARKET SHARE, BY GEOGRAPHY, 2016
FIGURE 14. U.S. VERTICAL FARMING MARKET, 2017-2025 ($MILLION)
FIGURE 15. CANADA VERTICAL FARMING MARKET, 2017-2025 ($MILLION)
FIGURE 16. MEXICO VERTICAL FARMING MARKET, 2017-2025 ($MILLION)
FIGURE 17. UK VERTICAL FARMING MARKET, 2017-2025 ($MILLION)
FIGURE 18. GERMANY VERTICAL FARMING MARKET, 2017-2025 ($MILLION)
FIGURE 19. FRANCE VERTICAL FARMING MARKET, 2017-2025 ($MILLION)
FIGURE 20. NETHERLANDS VERTICAL FARMING MARKET, 2017-2025 ($MILLION)
FIGURE 21. REST OF EUROPE VERTICAL FARMING MARKET, 2017-2025 ($MILLION)
FIGURE 22. CHINA VERTICAL FARMING MARKET, 2017-2025 ($MILLION)
FIGURE 23. JAPAN VERTICAL FARMING MARKET, 2017-2025 ($MILLION)
FIGURE 24. INDIA VERTICAL FARMING MARKET, 2017-2025 (MILLION)
FIGURE 25. AUSTRALIA VERTICAL FARMING MARKET, 2017-2025 (MILLION)
FIGURE 26. SINGAPORE VERTICAL FARMING MARKET, 2017-2025 (MILLION)
FIGURE 27. REST OF ASIA-PACIFIC VERTICAL FARMING MARKET, 2017-2025 ($MILLION)
FIGURE 28. BRAZIL VERTICAL FARMING MARKET, 2017-2025 ($MILLION)
FIGURE 29. SAUDI ARABIA VERTICAL FARMING MARKET, 2017-2025 ($MILLION)
FIGURE 30. SOUTH AFRICA VERTICAL FARMING MARKET, 2017-2025 ($MILLION)
FIGURE 31. SOUTH AFRICA VERTICAL FARMING MARKET, 2017-2025 ($MILLION)
FIGURE 32. EVERLIGHT ELECTRONICS: REVENUE, 2013-2015 ($MILLION)
FIGURE 33. PHILIPS: REVENUE 2014-2016, ($MILLION)
FIGURE 34. KONINKLIJE PHILIPS N.V: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 35. KONINKLIJE PHILIPS N.V: REVENUE SHARE BY GEOGRAPHY, 2016 (%)

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