Vertical Farming Market: Emerging Opportunities, Trends and Forecast Analysis (2021-2027) by Growth Mechanism, Structure, Application and Region.

Vertical Farming Market was valued at US$ 3.4 Bn. in 2020 and expected to grow at a CAGR of 18.6% during the forecast period (2021-2027), thanks to the growing trend of hydroponic farming use which has boosted demand for Global Vertical Farming Market.

Vertical Farming Market Overview:

Verticle farming is a process of growing crops in vertical stack layers by the use of artificial light and temperature. As compared to the conventional method of farming the vertical farming uses less physical space, less use water, less labor cost, and high productivity, etc. Crops such as summer squash, peppers, eggplant, cantaloupe, English cucumber, herbs, tomatoes, and mushrooms, etc. some of the vertical farming methods leading the market are hydroponic, aquaponic, and aeroponic. The USA has the leading number of vertical farms and is considered the future of agriculture. The global vertical farming market is estimated to reach US$ of 11.22 Bn. by 2027. Vertical Farming Market To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2015 to forecast the market through 2027. 2019 is considered a base year however 2020’s numbers are on real output of the companies in the market. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done good in lockdown also and specific strategic analysis of those companies is done in the report.

Vertical Farming Market Dynamics:

Factors attributing to the Vertical Farming Market growth are growing popularity of organic food, ease of crop monitoring and harvesting, lower transportation cost, smaller area for cultivation, low labor cost, etc. With the growing population of the world, the “United Nations Population Division” reports world population is expected to reach 7.85 Bn. by 2075. Increase in Hunger rate, according to “UN Nations Food System Summit” and the “2021 Tokyo Nutrition for Growth Summit” imposing policies to take action to get “ZERO HUNGER”, shrinking of arable land adding an advantage to the market. Vertical farming solves the problems arising from traditional farming such as greenhouse gas emission, high water consumption, soil degradation, high cost of transportation, pollution from fertilizers and pesticides, etc. as a result of these problems vertical farming attracts the global market too fastly. Innovations in Light-Emitting Diode (LED) technology, helping in reducing the farming cost. Smart sensors to monitor technical variables Ex- oxygen, Co2, humidity. Development in Sterilization systems includes chemical disinfection, UV-C sterilization, and ozone sanitation. These are the factors drawing the global vertical farming market positively. Some of the factors that are affecting vertical farming are technology-dependent nature, lack of skilled workforce, need high investment and destabilizing the traditional farming which affects the poor communities, etc.

Vertical Farming Market Segmentation:

Based Growth Mechanism Type, The market is segmented as Hydroponic, Aeroponic, Aquaponic. Amongst hydroponic farming held more than 52% of the share in the vertical farming market. Hydroponic farming also known as soilless farming is a process of growing crops without using soil. In this segment, roots are grown in a liquid nutrient solution. Driving demands for the installation of hydroponic farming are low installation cost, water-efficient method, ease to operate, higher profit rate. as a result, hydroponic farming is expected to grow CAGR of 8.6% during the forecast period. Vertical Farming Market 1 Based on the Structure segment, The market is segmented as building-based structure and container-based structure. Building-based farming dominates the global market. In this process, new or abandoned buildings are used for growing the crops by creating the artificial atmosphere required for crops. The most suitable type of farming is hydroponic and aeroponic because of their lightweight and energy-efficient. It is also known as urban agriculture. In a container-based structure, recycled shipping containers are used for growing crops and are equipped with LED lights, sensors, and climate controls, etc. This kind of farming helps in saving more space and maximizing productivity. Based on application type, The market is segmented as Indoor and outdoor. The indoor farming market was estimated at US$ 9 Bn. in 2020. Crops are grown in fully enclosed areas by the use of artificial climate. The most common type of indoor farming is greenhouses, verticle farms, and container farms. Advantages of indoor farming are less use of cultivating area, high productivity rate, less use of water, no use of pesticides and fertilizers, etc.

Verticle Farming Market regional insights:

North-America region dominates the global Vertical Farming Market by having more than 2000 farms and is expected to grow at a CAGR of 14.5% during the forecast period. Increasing demand for fresh and organic food, technological advancement, etc. “USDA and the Department of Energy” held a stakeholder workshop to promote verticle farming to meet future demands. US government initiated a policy “USAID HYDROPONIC GREEN FARMING INITIATIVE”(HGFI) to help Jordan’s agricultural sector, which consumes 65% water supply. Asia-Pacific is the second dominating region of the global vertical farming market and is expected to grow at a CAGR of 8.2% during the forecast period. Growing population and more than 65% of the people in this region practicing the traditional agriculture method which did not fulfill the future food demand. Change in preference of consumers, soil degradation. The Government of India launched the “Pradhan Mantri Krishi Sinchai Yojana”(PMKSY) with an investment of US$ 7.7 Bn to boost the irrigation sector. As a result, the global farming sector is considered the “Future of Agriculture”. The objective of the report is to present a comprehensive analysis of the global Verticle Farming market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Verticle Farming market dynamics, structure by analyzing the market segments and projecting the Verticle Farming market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Verticle Farming make the report investor’s guide.

Vertical Farming Market Scope: Inquire before buying

Vertical Farming Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 3.4 Bn.
Forecast Period 2021 to 2027 CAGR: 18.6% Market Size in 2027: US $ 11.2 Bn.
Segments Covered: by Growth Mechanism • Hydroponic • Aeroponic • Aquaponic
by Structure • Building based structure • Container based structure
by Application • Indoor • Outdoor

Vertical Farming Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Vertical Farming Market Key Players

• AeroFarms • Plenty • Green Spirit Farms • Bowery farming • BrightFarms • Gotham Greens • Iron Ox • Infarm • Agricool • CropOne • Illumitex • PodPonics • Surna • Freght Farms • Voeks Inc

Frequently Asked Questions:

1. Which region has the largest share in Vertical Farming Market? Ans: North-America held the largest share in 2020. 2. What is the growth rate of the Vertical Farming Market? Ans: The Vertical Farming Market is growing at a CAGR of 18.6 % during the forecasting period 2021-2027. 3. What segments are covered in Vertical Farming Market? Ans: Vertical Farming Market is segmented into growth mechanism, structure,application. 4. Who are the key players in Vertical Farming Market? Ans:AeroFarms,Plenty, Green Spirit Farms, Bowery farming, BrightFarms, Gotham Greens, Iron Ox, Infarm, Agricool, CropOne, Illumitex, PodPonics, Surna, Freght Farms, Voeks Inc 5. What is the study period of this market? Ans: The Verticle Farming Market is studied from 2020 to 2027.
1. Global Vertical Farming Market: Research Methodology 2. Global Vertical Farming Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Vertical Farming Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Vertical Farming Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region– 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • Asia Pacific • Europe • North America • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Vertical Farming Market Segmentation 4.1. Global Vertical Farming Market, by Growth mechanism type (2020-2027) • Hydroponic • Aeroponic • Aquaponic 4.2. Global Vertical Farming Market, by Structure (2020-2027) • Building based structure • Container based structure 4.3. Global Vertical Farming Market, by Application (2020-2027) • Indoor • Outdoor 5. Asia-Pacific Vertical Farming Market (2020-2027) 5.1. Global Vertical Farming Market, by Growth mechanism type (2020-2027) • Hydroponic • Aeroponic • Aquaponic 5.2. Global Vertical Farming Market, by Structure (2020-2027) • Building based structure • Container based structure 5.3. Global Vertical Farming Market, by Application (2020-2027) • Indoor • Outdoor 6. European Vertical Farming Market (2020-2027) 6.1. European Vertical Farming Market, by Growth mechanism type (2020-2027) 6.2. European Vertical Farming Market, by Structure (2020-2027) 6.3. European Vertical Farming Market, by Application (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. North America tire Market (2020-2027) 7.1. North America tire Market, by Growth mechanism Type (2020-2027) 7.2. North America tire Market, by Structure (2020-2027) 7.3. North America tire Market, by Application (2020-2027) • US • Canada • Mexico • Greenland • Haiti • Jamaica • Cuba • Panama 8. Middle East and Africa Vertical Farming Market (2020-2027) 8.1. Middle East and Africa Vertical Farming Market, by Growth mechanism Type (2020-2027) 8.2. Middle East and Africa Vertical Farming Market, by Structure (2020-2027) 8.3. Middle East and Africa Vertical Farming Market, by Structure (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Vertical Farming Market (2020-2027) 9.1. South America Vertical Farming Market, by Growth mechanism (2020-2027) 9.2. South America Vertical Farming Market, by Structure (2020-2027) 9.3. South America Vertical Farming Market, by Application (2020-2027) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10. Voeks Inc 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 11. Plenty 12. Green Spirit Farms 13. Bowery farming 14. BrightFarms 15. Gotham Greens 16. Iron Ox 17. Infarm 18. Agricool 19. CropOne 20. Illumitex 21. PodPonics 22. Surna 23. Freght Farms

About This Report

Report ID 15221
Category Consumer Goods & Services
Published Date Sept 2019
Updated Date Nov 2021
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