Vertical Farming Market Size, Share, Trends and Industry Growth Analysis Report to 2028 | Leading Players: Koninklijke Philips N.V., Sky Greens Pte. Ltd, AeroFarms LLC, Everlight Electronics Co. Ltd, Illumitex Inc, Hort Americas

The Vertical Farming Market revenue has been estimated at USD 8.92 Billion in 2022 and is projected to grow at a CAGR of 23.98% during the forecast period. Growing an adequate amount of healthy food in traditional farming is a big challenge. Protecting crops from bad weather, rapid urbanization, and industrialization, and lack of cultivable farming land are big problems for traditional farming.

Vertical farming is a non-traditional way of growing crops, which neglects the effects of climate, produce high yield, use minimum pesticides, consumes less amount of water, and requires less area for farming. The demand for vertical farming is expected to grow in the future due to factors such as a rise in the popularity of organic food, a decrease in arable food, an increase in urban population. However, vertical farming requires a high initial investment and advanced technologies.
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Vertical Farming Market report covers share, size, and forecast by top players, regions, applications, and product types, and forecast along with historical data. The Vertical Farming Market study covers in-depth insights on competitive scenario, description, wide product portfolio of key vendors, SWOT analysis and business strategy adopted by competitors, revenue, Porter's Five Forces Analysis, and sales estimates.This market analysis will provide an exhaustive analysis of segments on the basis of market dynamics, current trends, and country level analysis of Vertical Farming Market industry. This market analysis offers industry forecast and estimates along with segment and regional distribution and respective CAGRs. An in-depth analysis of value chain, competitive landscape, pricing strategies, and porter's five forces model analysis are also covered in the market study.

Key Factors Impacting Market Growth:

• Rising demand for high-quality food without herbicides and pesticides

• Independent farming techniques with less impact of climate conditions

• Limited space for growing vegetables and fruits

• Organic food items are becoming more popular as people's health consciousness grows

• Rising demand for monitoring devices

• The government is launching a number of initiatives to improve the country's existing agricultural infrastructure

Recent Developments in the Global Vertical Farming Market

• In April 2021, Swegreen launched the 'NextGen' of super-efficient in-store vertical farms in the Ica Maxi megastore in Linköping, Sweden. The new vertical farm will be Scandinavia's largest in-store cultivation.

• In December 2019, AeroFarms started to build a state-of-the-art indoor vertical farm to meet increasing consumer demands for more flavorful produce. It is expected to be one of the largest farms of its kind in the world in Danville, Virginia.

Key Players

The Vertical Farming Market studied is a discreetly consolidated market owing to the existence of the small and large market players. Some of the market players are Koninklijke Philips N.V., Sky Greens Pte. Ltd, AeroFarms LLC, Everlight Electronics Co. Ltd, Illumitex Inc, Hort Americas, Agrilution GmbH, Urban Crop Solutions Inc., American Hydroponics Systems Inc., and Vertical Farm Systems.

Segment analysis

Market segmentation is the process of dividing target market into clearly defined subgroups of consumers who have common priorities. By identifying these segments, marketing strategies can be developed to meet the priorities in a cost-effective way. Vertical Farming Market is segmented By Crop Type (Spinach, Cucumbers, Tomatoes, Strawberries, Pomegranates, Lettuce, Peppers, Broccoli, and Others), By Mechanism Type (Aeroponics, Aquaponics, and Hydroponics), By Structure Type (Building-based and Shipping Container), By Offering Type (Hardware, Software, and Services)

Regional analysis

The market across North America held the largest share, owing to adoption of advanced technology. However, the market across the Asia-Pacific region is projected to register the fastest CAGR during the forecast period, due to growth of emerging countries such as India, South Korea, Japan, and China, and rapid urbanization in the region.

Regions mention in this report is:

North America: US, Canada, Mexico

Europe: Russia, Turkey, Germany, UK, France, Spain, Rest of Europe

Middle East & Africa: UAE, Saudi Arabia, Qatar, Iraq, South Africa Rest of Middle East & Africa

South America: Brazil, Argentina, Colombia, Rest of South America

Asia Pacific: China, Japan, India, South Korea, Australia Rest of Asia Pacific

TOC

Chapter 1. Report Overview
Chapter 2. Study Scope
Chapter 3. Key Market Segments
Chapter 4. Regulatory Scenario by Region/Country
Chapter 5. Market Investment Scenario Strategic
Chapter 6. Market Analysis by Segmentation
Chapter 7. Global Market Growth Trends
Chapter 8. Industry Trends
Chapter 9. SWOT Analysis
Chapter 10. Porter's Five Forces Analysis
Chapter 11. Potential Market and Growth Potential Analysis
Chapter 12. Industry News and Policies by Regions
Chapter 13. Industry News
Chapter 14. Industry Policies
Chapter 15. Value Chain of Market
Chapter 16. Value Chain Status
Chapter 17. Production Process Analysis
Chapter 18. Manufacturing Cost Structure
Chapter 19. Labor Cost
Chapter 20. Players Profiles
Chapter 21. Global Market Analysis by Regions

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Methodology

Market research employs analytic and statistical techniques and methods to collect and analyze data in a systematic manner. In today's increasingly complicated commercial environment, this procedure now includes opinion and sociological research.

Market trends - Market trends, also known as market trends, are the changes of a market over time.

SWOT analysis - This is an examination of a corporation or company's strengths, weaknesses, chances, and threats. The research also includes strategic analysis, PEST analysis, Porter's 5-force analysis, and SWOT analysis, all of which can help buyers make important strategic decisions.
Marketing effectiveness is determined by factors such as risk analysis, market analysis, customer analysis, and competitive analysis, among others.

The study of the market includes

• To give a complete analysis of the market structure, as well as forecasts for the major segments and sub-segments of the global Vertical Farming industry for the next five years.

• To give information on the elements that influence market growth.

• To conduct a market analysis of the global Vertical Farming market using methodologies such as Supply Chain Analysis and Porter's Five Force Analysis.

• To give historical and future revenue for market segments and sub-segments in relation to regions and important countries.

• To give a country-level market study in terms of current market size and future prospects.
• To give a country-level market analysis for segmentation by material, kind, and region.

• To provide strategic profile of important market participants, a thorough analysis of their core strengths, and a competitive landscape for the Vertical Farming market.

• To track and analyses competitive trends in the global Vertical Farming market, such as strategic partnerships, bilateral agreements, mergers and acquisitions, new product innovations, and research and development.

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This release was published on openPR.