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Global Vertical Farming Industry Market Dynamics & Strategic Insights 2021-2030
Vertical farming is a method of growing crops in a vertical integrated into structures such as shipping containers, skyscrapers, or used warehouses. It ensures stability in crop making and consists of the ideas of indoor farming techniques. This process allows profitability for several organizations to meet their Corporate Social Responsibility through agricultural practices. The benefits of vertical farming technology include the use of controlled-environment farming technology and indoor farming techniques, are environmental factors can be controlled for the development of the crop. This farming is carried out through three technologies such as hydroponics, aeroponics, and aquaponics. This process employs various equipment, vegetables, herbs, fruits, and aquatic species. This farming technique finds extensive usage in several outdoor and indoor applications.
Global Vertical Farming Market іѕ ѕеgmеntеd on the bаѕіѕ оf Growth Mechanism (Aeroponics, Hydroponics, and Aquaponics), Structure (Building-Based Vertical Farms, Shipping Container Vertical Farms) Component (Lighting, Hydroponic Component / Irrigation Component, Climate Control, Sensor) and region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
The Global Vertical Farming Market wаѕ vаluеd аt UЅ$ 4,263.5 Мn іn 2020 іѕ рrојесtеd tо іnсrеаѕе ѕіgnіfісаntlу аt а САGR оf 23.5% frоm 2021 tо 2030.
The report on Global Vertical Farming Market which оffеrѕ іn-dерth аnаlуѕіѕ оn mаrkеt drіvеrѕ, rеѕtrаіntѕ, орроrtunіtіеѕ, trеndѕ, and other important information regarding the Global Vertical Farming Market. This rероrt іnсludеs quаlіtаtіvе іnfоrmаtіоn and quаntіtаtіvе аnаlуѕіѕ оf vаrіоuѕ ѕеgmеntѕ іn tеrmѕ оf mаrkеt ѕhаrе, grоwth, орроrtunіtу аnаlуѕіѕ, mаrkеt value, еtс. fоr thе fоrесаѕt уеаrѕ. The report offers detailed information regarding the various key players operating in the Global Vertical Farming Market, their financials, key developments, supply chain trends, technological innovations, apart from future strategies, acquisitions & mergers, market footprint, and COVID-19 Analysis. This report is based on analysis, synthesis, and interpretation of the information gathered regarding the Global Vertical Farming Market from various sources. We analyzed the data and information and gained insights using primary and secondary research efforts with the primary objective to provide a holistic view of the Global Vertical Farming Market.
Market Dynamics:
Increasing awareness regarding the significance of alternative farming processes and diminishing agricultural lands are factors expected to drive the growth of the global vertical farming market. Growing demand for fresh and organic vegetarian food from the households and food industry and safe production processes are factors estimated to fuel vertical farming market growth. Moreover, the increasing popularity of vertical farming owing to its features such as ease of crop harvesting, limited space requirement, and monitoring among other features is one of the factors expected to drive the growth of the global vertical farming market during the forecast period. The increasing number of high rise buildings and towers and growing awareness about eco-friendly construction practices are some of the key factors estimated to propel the target market growth. Favorable government initiatives such as providing rebates and subsidies to encourage farmers to accept a vertical farming approach is a factor that is expected to support global market growth. Additionally, shifting preference towards modern techniques for convenience, safety, high-quality production, coupled with increasing investments for R&D activities by government and private players are factors that are projected to augment the global vertical farming market growth.
However, high initial setup costs and requirement of high capital investments, and limitations on the variety of crops that can be grown are a factor that could hamper the market growth.
Segmental Analysis:
Among the growth mechanism segments, the hydroponics segment is accounted for a major revenue share in the global vertical farming market. This is attributed to hydroponics farming is a method of growing plants without soil by replacing the mineral solution in a water solvent.
Among the structure segments, the shipping container segment is expected to hold a dominant share in the market over the forecast period, due to its key feature such as the ability to grow crops easily irrespective of the geographic locations.
Among the component segments, the climate control segment is projected to register substantial CAGR over the forecast period.
Regional Analysis:
The Asia Pacific is expected to dominate the market with its largest and fastest-growing market size for vertical farming. This is attributed to the growing importance of alternative farming techniques and the acceptance of nanotechnology and robotics to improve crop life in countries in the region. Additionally, government initiatives and investments for technological advancements in this field, the rising requirement of high-quality agricultural production, along with increasing water stress in the region is anticipated to support market growth. Urban farm movement is the increasing consumer demand for chemical-free foods, this factor along with the growing requirement to reduce the carbon footprint from traditional agricultural practices are some factors that are estimated to propel market growth in the region. Moreover, the reduction of water resources and changing climatic conditions have urged the adoption of alternative farming methods. North America and Europe markets are expected to witness considerable growth over the forecast period
Global Vertical Farming Market Segmentation:
Segmentation by Growth Mechanism:
• Aeroponics
• Hydroponics
• Aquaponics
Segmentation by Structure:
• Building-Based Vertical Farms
• Shipping Container Vertical Farms
Segmentation by Component:
• Lighting
• Hydroponic Component / Irrigation Component
• Climate Control
• Sensor
Segmentation by region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Players:
Koninklijke Philips N.V.
Aerofarms
Sky Greens
Illumitex, Inc.
Everlight Electronics Co., Ltd.
Green Sense Farms, LLC
Agrilution
American Hydroponics
Urban Crops Solutions
Vertical Farm Systems
Global Vertical Farming Market іѕ ѕеgmеntеd on the bаѕіѕ оf Growth Mechanism (Aeroponics, Hydroponics, and Aquaponics), Structure (Building-Based Vertical Farms, Shipping Container Vertical Farms) Component (Lighting, Hydroponic Component / Irrigation Component, Climate Control, Sensor) and region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
The Global Vertical Farming Market wаѕ vаluеd аt UЅ$ 4,263.5 Мn іn 2020 іѕ рrојесtеd tо іnсrеаѕе ѕіgnіfісаntlу аt а САGR оf 23.5% frоm 2021 tо 2030.
The report on Global Vertical Farming Market which оffеrѕ іn-dерth аnаlуѕіѕ оn mаrkеt drіvеrѕ, rеѕtrаіntѕ, орроrtunіtіеѕ, trеndѕ, and other important information regarding the Global Vertical Farming Market. This rероrt іnсludеs quаlіtаtіvе іnfоrmаtіоn and quаntіtаtіvе аnаlуѕіѕ оf vаrіоuѕ ѕеgmеntѕ іn tеrmѕ оf mаrkеt ѕhаrе, grоwth, орроrtunіtу аnаlуѕіѕ, mаrkеt value, еtс. fоr thе fоrесаѕt уеаrѕ. The report offers detailed information regarding the various key players operating in the Global Vertical Farming Market, their financials, key developments, supply chain trends, technological innovations, apart from future strategies, acquisitions & mergers, market footprint, and COVID-19 Analysis. This report is based on analysis, synthesis, and interpretation of the information gathered regarding the Global Vertical Farming Market from various sources. We analyzed the data and information and gained insights using primary and secondary research efforts with the primary objective to provide a holistic view of the Global Vertical Farming Market.
Market Dynamics:
Increasing awareness regarding the significance of alternative farming processes and diminishing agricultural lands are factors expected to drive the growth of the global vertical farming market. Growing demand for fresh and organic vegetarian food from the households and food industry and safe production processes are factors estimated to fuel vertical farming market growth. Moreover, the increasing popularity of vertical farming owing to its features such as ease of crop harvesting, limited space requirement, and monitoring among other features is one of the factors expected to drive the growth of the global vertical farming market during the forecast period. The increasing number of high rise buildings and towers and growing awareness about eco-friendly construction practices are some of the key factors estimated to propel the target market growth. Favorable government initiatives such as providing rebates and subsidies to encourage farmers to accept a vertical farming approach is a factor that is expected to support global market growth. Additionally, shifting preference towards modern techniques for convenience, safety, high-quality production, coupled with increasing investments for R&D activities by government and private players are factors that are projected to augment the global vertical farming market growth.
However, high initial setup costs and requirement of high capital investments, and limitations on the variety of crops that can be grown are a factor that could hamper the market growth.
Segmental Analysis:
Among the growth mechanism segments, the hydroponics segment is accounted for a major revenue share in the global vertical farming market. This is attributed to hydroponics farming is a method of growing plants without soil by replacing the mineral solution in a water solvent.
Among the structure segments, the shipping container segment is expected to hold a dominant share in the market over the forecast period, due to its key feature such as the ability to grow crops easily irrespective of the geographic locations.
Among the component segments, the climate control segment is projected to register substantial CAGR over the forecast period.
Regional Analysis:
The Asia Pacific is expected to dominate the market with its largest and fastest-growing market size for vertical farming. This is attributed to the growing importance of alternative farming techniques and the acceptance of nanotechnology and robotics to improve crop life in countries in the region. Additionally, government initiatives and investments for technological advancements in this field, the rising requirement of high-quality agricultural production, along with increasing water stress in the region is anticipated to support market growth. Urban farm movement is the increasing consumer demand for chemical-free foods, this factor along with the growing requirement to reduce the carbon footprint from traditional agricultural practices are some factors that are estimated to propel market growth in the region. Moreover, the reduction of water resources and changing climatic conditions have urged the adoption of alternative farming methods. North America and Europe markets are expected to witness considerable growth over the forecast period
Global Vertical Farming Market Segmentation:
Segmentation by Growth Mechanism:
• Aeroponics
• Hydroponics
• Aquaponics
Segmentation by Structure:
• Building-Based Vertical Farms
• Shipping Container Vertical Farms
Segmentation by Component:
• Lighting
• Hydroponic Component / Irrigation Component
• Climate Control
• Sensor
Segmentation by region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Players:
Koninklijke Philips N.V.
Aerofarms
Sky Greens
Illumitex, Inc.
Everlight Electronics Co., Ltd.
Green Sense Farms, LLC
Agrilution
American Hydroponics
Urban Crops Solutions
Vertical Farm Systems
Scope:
| Report Data | Market |
| Forecast 2022 | million/billion (2022-2032) |
| CAGR - | % |
| Analysis Period | - |
| Base Year | |
| Forecast Data | - |
| Segments Covered | By Type, By Application, And by Regions |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | . |
| Key Segments | By Type By Applications |
| Report Coverage | Market Drivers, Market Trends, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Frequently Asked Questions
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The current market value for is expected USD XX million/billion by 2022.
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The is to grow at a CAGR of 5.3% during the forecast by 2032.
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On the basis of type, the is segmented into Types.
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