Press release
Vertical Farming Market To Witness Robust Expansion By 2026 With Top Key Players | BrightFarms, Agrilution, Everlight Electronics Co., Ltd., American Hydroponics, Freight Farms, Illumitex, Inc., and Vertical Farm Systems
Vertical Farming Market
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The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
well-known companies profiled in the report include
o Agrilution
o American Hydroponics
o BrightFarms
o Everlight Electronics Co., Ltd.
o Freight Farms
o Green Sense Farms, LLC
o GrowUp Urban Farms
o Illumitex, Inc.
o Koninklijke Philips N.V.
o Urban Crops
o Vertical Farm Systems
The global vertical farming market is segmented on the basis of structure, offering, growing mechanism, and region.
1. Vertical Farming Market Size and Forecast, 2017-2026 by Structure Type
o Shipping Container Vertical Farms
o Building-based Vertical Farms
2. Vertical Farming Market Size and Forecast, 2017-2026 by Offering
o Sensors
o Lighting Solutions
o Climate Control
o Hydroponic Components
3. Vertical Farming Market Size and Forecast, 2017-2026 by Growing Mechanism
o Hydroponics
o Aeroponics
o Aquaponics
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According to a new study published by Polaris Market Research the worldwide Vertical Farming market is anticipated to reach over USD 11,905 million by 2026 . The growing population worldwide has resulted in significant increase in food demand. Vertical farming is increasingly being used to meet the high-demand for food crops.
The factors driving the growth of vertical farming market include ability to produce high quality crops throughout the year, lesser use of water for crop cultivation, and lower dependency on weather conditions. Organic and chemical free crops can be grown with the help of vertical farming in artificially controlled environments, which further increases its adoption. Other factors driving the market include growing urban population, and reduced environmental pollution. However, high initial investment and crop production of limited varieties restrict the growth of vertical farming market.
Asia-Pacific generated the highest revenue of $835 million in 2019, and is expected to lead the global market throughout the forecast period. This is owing to significant growth of population in the region. Lack of fertile land, Strong technical expertise in agricultural practices, and established R&D institutes in China and Japan further supplement the market growth.
The growing mechanisms used for vertical farming include hydroponics, aquaponics, and aeroponics. In 2017, hydroponics accounted for the largest share in the global market, and was estimated at USD 1,086 million in 2017, registering a CAGR of 23.3% during the forecast period. Hydroponics is a process of growing plants where the traditional soil medium is replaced by nutrient and mineral rich water solution. Hydroponics offer benefits such as availability of crops throughout the year, faster plant growth, and eliminate the growth of pesticides.
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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world
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