Vertical Farming Market is Expected to Grow at a CAGR of 31.6% from 2017 to 2025.

Vertical farming is a revolutionary approach to produce food in vertically stacked layers, such as in a skyscraper, used warehouse, or shipping container. It facilitates huge quantity of nutritious and quality fresh food, without relying on favorable weather, high water usage, skilled labor, and high soil fertility. Also, it enables reliable harvest and consistency along with climate control, as well as complete removal of external environment factors such as disease, pest or predator attacks. The global vertical farming market is expected to grow at a CAGR of 31.6% from 2017 to 2025.

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Based on component, the global vertical farming market is segmented as hydroponic, lighting, sensing, climate control, and others. Based on growth mechanism, the market is segmented as hydroponics, aeroponics, and others. Geographic breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and LAMEA.

Market Dynamics:

Drivers:
Increasing adoption of technology driven agriculture.
Escalating demand for food due to growing population.
Technological advancements.

Restraints:
Lack of awareness about the benefits of the technology.
Affordability of the technology.

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Market Players:
The top players in the global vertical farming market include Aerofarms, Farmedhere, Illumitex, Inc., Koninklijke Philips N.V, Sky Green, Everlight Electronics, Green Sense Farms, American Hydroponics, Hort Americas, and Agrilution.

KEY TAKEAWAYS

MARKET LANDSCAPE

By Component
Hydroponic
Lighting
Sensing
Climate Control
Others

By Growth Mechanism
Hydroponics
Aeroponics

Others

By Geography

North America
Europe
Asia-Pacific
LAMEA

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