Vertical Farming Market Size, Share, Growth & Industry Research Report, 2020-2027
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Vertical Farming Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The strong demand for high-quality land, a sharp fall in the arable land, and the shift of the consumers towards organic products are the significant factors contributing to the growth of the vertical farming market size. According to the vertical farming market research, the growing production of crops due to the rising population and the increasing concerns of the consumers for the health and rapid urbanization will further surge the vertical farming market's growth in the coming years. Vertical farming provides exceptional benefits, including decreased exposure to diseases & chemicals, the usage of significantly less water, greater output from less cultivation area and is not impacted by the weather conditions. These factors will further propel the demand for vertical farming industry around the world.
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As per the vertical farming market report, the high demand for organic food due to the increasing disposable income of the consumers in emerging economies, the growing production of biopharmaceutical products, and improvement in the food supply are certain factors that are driving the growth of the vertical farming market. Vertical farming decreases carbon footprint due to its enhanced proximity to the consumer resulting in a reduction in the distance covered by trucks. According to the vertical farming market analysis, the factors hindering the growth of the vertical farming market include the need for high initial investment for the introduction of vertical farming and limited technological skills.
Growth Mechanism Segment Drivers
Based on the growth mechanism, the aeroponics is projected to rise at a faster CAGR in the coming years due to the increasing utilization of the aeroponics growth mechanism in vertical farming due to its capability to allow extensive planting which is not offered by the other growth mechanisms. This method is environmentally friendly and has less susceptibility to diseases and pests, which boosts the market growth.
Based on the region, Asia-Pacific is predicted to lead the market over the coming years due to the increasing urban population and consumers' significant shift towards organic foods. Furthermore, the rise in the annual production of crops due to the increasing introduction of advanced technologies and the growing population are the major factors bolstering the growth of the market.
Vertical Farming Market’s leading Manufacturers:
• Koninklijke Philips N.V.
• Sky Greens
• Green Sense Farms Holdings, Inc.
• Urban Crop Solutions
• Vertical Farm Systems
Vertical Farming Market Segmentation:
Segmentation by Growth Mechanism:
Segmentation by Structure:
• Shipping Container Vertical Farms
• Building-Based Vertical Farms
Segmentation by Crop Type:
Segmentation by Offering:
• Hydroponics Components
o Meters & Solutions
o Pumps & Irrigation
o Water Filtration
o Grow Light Reflectors
o Grow Lights
o Grow Light Ballasts
o CO2 Sensors
o Temperature Sensors
o pH Sensors
o Nutrient Sensors
o Crop Sensors
• Climate Control
o Air Purification/Control
o Ventilation Fans
Segmentation by Region:
• North America
o United States of America
• Asia Pacific
o Rest of APAC
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
o Rest of the world (remaining countries of the LAMEA region)
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GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company's large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird's eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.
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