Vertical Farming Market 2020 Global Analysis By Key Players - American Hydroponics, Mirai, AeroFarms, ILLUMITEX, INC., Philips Benelux, Freight Farms, BrightFarms

Vertical farming market is expected to accrue substantial gains from outdoor applications over 2019-2026. Such impressive growth can be attributed to the increasing use of hydroponic technique for cultivation. This technique aids plants to mature without soil and uses only 10% of the water for growing plants as compared to conventional farming techniques.

Global vertical farming market outlook is driven by a variety of factors including, growing food consumption, global population explosion, and rising concerns pertaining to environment and climate change. Increasing food demands of the growing population base along with ever decreasing arable lands is one the greatest challenges for mankind. However, vertical farming can be a solution to the problem.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. American Hydroponics
2. Mirai
3. AeroFarms
4. ILLUMITEX, INC.
5. Philips Benelux
6. Freight Farms
7. BrightFarms
Market Segmentation By Product
o Equipment
o Lighting systems
o Pumps & irrigation systems
o Tanks
o Sensors
o Pipes
o Climate controllers
o Meters & solutions
o Fruits, vegetables & herbs
o Tomato
o Lettuce
o Bell & chili peppers
o Strawberry
o Cucumber
o Leafy greens
o Aquatic species
o Tilapia
o Bass
o Trout
o Salmon
o Crab

Vertical farming is a form of stacked farming that utilizes Controlled Environment Agriculture (CEA) technology and indoor farming techniques to produce food and medicines. It makes use of unused vertical spaces, which mostly includes shipping containers, skyscrapers, and warehouses.

This technique not only makes good use of abandoned property, but also decreases fossil fuel consumption (involved in traditional farm machines and for transporting crops) and also provides the possibility of sustainability in urban areas. Stable energy utilization and ideal use of unused vertical space with the technique is likely to boost Vertical farming market growth.

Technology advancements in hydroponics, aquaponics, and aeroponics will positively impact vertical farming practices across the globe. Increasing investment for green infrastructure may further provide impetus for industry expansion. Global vertical farming market is forecast to cross the USD 22 billion mark by 2026.

Growth Drivers: -
1. Soaring population levels leading to imbalances in food demand and supply
2. Scarcity of farming land: A major natural resource
3. Stabilized crop production irrespective of climatic changes
4. Conservation and recycling of natural resources

Besides, vertical farming has helped farmers minimize their geographic footprint to produce more on less land. The shortened supply chain has reduced dependence on fossil fuels to transport produce, thereby fueling vertical farming trends. Shifting production from ground to the air has helped save space and asserted the concept of reliable harvest where there are no seasonal crops and no crop losses. Stakeholders are eager to invest in these advanced and space-saving systems.

The advent of agriculture has brought about expansion of Europe vertical farming market. The governments perceive vertical farming to blur lines between agriculture and technology. Governments are exhorting private entities to enthuse investments in the landscape, thereby fueling vertical farming market forecast. Governments and private entities are minimizing the threshold to make an overarching impact throughout Europe--and across the globe. For instance, a UK-based e-grocer Ocado has poured in over US$ 20 mn in indoor vertical farming. The investment is expected to help Europe meet the ever-increasing food demand and help curb climate change.

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Profound interest in vertical farming and proliferation in investment has instilled confidence among stakeholders as they anticipate vertical farming to help agriculture achieve sustainability in the environmental, economic and societal landscapes. In pursuit of sustainability, leading companies such as Aero Farms, Plantagon International and America Hydroponics are gearing to bolster vertical farming market.

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