Global Vertical Farming Market Report Description:
Global vertical farming market report gives comprehensive outlook on vertical farming market across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global vertical farming market gives historical, current, and future market sizes (US$ Mn) on the basis of Growing Mechanism, Component, Structure, End User, and region. This report studies global vertical farming market dynamics elaborately to indentify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global vertical farming market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global vertical farming market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global vertical farming market products & services.
Global Vertical Farming Market:
The Global Vertical Farming Market estimated to be valued USD XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025 due to the increase in population lead to increase in demand for food, lower dependency of farming on weather conditions, lesser use of water for cultivation of crops, ability to produce high quality crops throughout the year. Moreover, the increase in adaptation of vertical farming through which organic and chemical free crops can be grown in artificially controlled environments is driving the growth of the global vertical farming market over the forecast timeframe.
Increase in the World Population
Increase in the world population is a key factor drive the global vertical farming market. The increasing population worldwide has resulted in significant increase in food demand. Due to various reasons like lack of water, lack of proper environmental conditions the crop production in getting decreased. According to UNO, 55% of the total world population live in urban areas and it is expected to reach 65% by 2050. Majority of the people who live in rural areas depends on agriculture but the population is getting decreased due to various reasons so that the production is getting decreased and the demand is getting increased. Vertical farming permits farmers to harvest fresh organic crops in ever-growing cities with additional advantages of high yield and low water requirement. Traditional farmers use pesticides to achieve higher yield and use preservatives to keep the food fresh, as they deliver it to cities. However, rise in demand for fresh, local, and organic food has enhanced the growth of the vertical farming market.
North America Accounts for Larger Market Revenue Share in Global Vertical Farming Market
North America accounted for larger revenue share in global vertical farming market with significant CAGR. Owing to increasing concerns towards food security and nutrition, rise in popularity of organic food, increase in urban population, and decrease in arable lands. Asia pacific vertical farming market projected to grow at significant rate owing to increase in the urban population, increase in demand for chemical free food, lack of proper environmental conditions for the production of various crops and enhanced awareness regarding organic farming.
Key player’s profiles in the global vertical farming market include:
- AeroFarms (U.S.)
- Illumitex, Inc. (U.S.)
- American Hydroponics (U.S.).
- Sky Urban Solutions (Singapore)
- Green Sense Farms, LLC (U.S.).
- Agrilution GmbH (Germany)
- BrightFarms (U.S.)
- Urban Crops Solutions (Belgium)
- Everlight Electronics Co., Ltd. (Taiwan)
- Koninklijke Philips N.V (Netherlands)
Key Findings of the Report:
- Global market expanding at significant CAGR over 2019 to 2025 owing to increase in the prevalence of usage of internet.
- Based on growing mechanism, hydroponics market accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period.
- Players focusing on innovation of newer products & services and collaboration strategies to retain market position in global vertical farming market
By Growing Mechanism:
- Building-based Vertical Farms
- Shipping Container-based Vertical Farms
By Crop Type
- Fruits and Vegetables
- Herbs and Microgreens
- Flowers and Ornamentals
- Other Crop Types
- Irrigation Component
- Climate Control
- Building Material
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market