The global Vertical
Farming Market share report provides numbers for applications
and regional segments of the industry covering historical as well as forecast
data for decision makers.
Low
availability of land and fluctuating weather conditions will lead Vertical
Farming Market to generate a sizable revenue over the next seven years. Of
late, the issues of excess population, water conservation, crop production, and
recycling have been plaguing the world. Vertical farming is expected to provide
a feasible solution for these problems. Being the latest phenomenon in urban
farming, vertical farming is secured with biosecurity procedures that prevent
pest attacks on crops and restrict plant disease. Additionally, there is no
concept of seasonal crop or run-offs, which eliminates crop spoilage and
transport costs, thereby fueling vertical farming industry expansion. A report
by Global Market Insights, Inc., state that vertical farming market size is
expected to cross USD 13 billion by 2024, with a striking CAGR of 27% over
2017-2024, having had a base valuation of USD 2 billion in 2017.
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Vertical
farming involves plants being grown in vertical layers, stacked one after the
other in warehouses, barren lands, deserts, high-rise buildings, and shipping
containers. It reduces the necessity of pesticides, sprays, and herbicides in
cropping systems and helps farmers deliver their produce on time. These
benefits are expected to positively influence vertical farming market. Players
operating in this market engage in collaborations to enhance crop yield and
provide a positive impetus to vertical farming market. For instance, Canada
based Ecobain Gardens recently formed an alliance with Philips Lighting Holding
B.V. with an aim to replace its lights with Philips GreenPower LED lights to improve
crop quality and increase its sales.
The
product landscape of vertical farming industry encompasses fruits, vegetables
& herbs, equipment, and aquatic species. Raising fish and crabs in vertical
farms has brought about increased economic growth in most European countries.
High consumption of farm-raised fish and tilapia will lead Europe vertical
farming market to grow at a modest rate over 2017-2024. Belgium, UK,
Netherlands and Germany are slated to be major revenue contributors. Subject to
the increased consumption of vegetables and fruits, lettuce held more than 30%
of the total fruits, vegetables & herbs segment in 2016 and is expected to
increase over the next few years.
Vertical
farming can be implemented in an outdoor or indoor setting. Outdoor applications
held less than 30% of the overall vertical farming market and will depict a
slightly sluggish growth rate over the next seven years. Indoor applications,
on the other hand, held a rather significant share of vertical farming industry
in 2016 and will exhibit a huge growth rate over the years ahead.
This
type of farming is especially prevalent in the United States and China, owing
to the fact they account for additional income apart from the economic benefits
obtained from traditional farming methods. North America accounted for a huge
share of global vertical farming market in 2016, subject to the increased
number of indoor farming applications, extensive R&D research, and strong
technical expertise.
Hydroponics
technology held more than 50% of the overall vertical farming industry and is
expected to grow significantly over 2017-2024. Aeroponics, however, is
anticipated to be the fastest growing technology over the next few years,
subject to the fact that its usage saved more than 95% of water used in
farming.
Asia
Pacific vertical farming market is anticipated to grow at a lucrative CAGR
subject to the deployment of high grade farming technologies. Notable revenue
contributors include Japan, Taiwan, Singapore, Inia, China, and South Korea.
Owing to the fact that Japan houses a vast number of vertical farms, the region
accounted for more than 25% of APAC vertical farming share in 2016 and will
grow notably over the years ahead. Singapore is also expected to be a
profitable avenue for the growth of vertical farming market.
General
Hydroponics, Urban Crop Solutions, Green Spirit Farms, Spread Co. Ltd.,
Aerofarms, Mirai Co.Ltd., Plantagon International AB, Sky Greens, and American
Hydroponics are major participants operating in global vertical farming market.
These firms are engaged in numerous growth tactics such as strategic
partnerships and improved product development to enhance the growth of vertical
farming market.
Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1. Initial
data exploration
1.1.2.
Statistical model and forecast
1.1.3. Industry
insights and validation
1.1.4.
Definitions & forecast parameters
1.2. Data sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Vertical Farming industry
360° synopsis, 2013 – 2024
2.1.1. Business
trends
2.1.2. Product
trends
2.1.3.
Technology trends
2.1.4. Application
trends
2.1.5. Regional
trends
Chapter 3. Vertical Farming Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 -
2024
3.3. Industry ecosystem analysis
3.3.1. Vendor
matrix
3.3.2.
Distributor channel analysis
3.4. Industry impact forces
3.4.1. Growth
drivers
3.4.1.1.
Soaring population levels leading to imbalances in food demand and supply
3.4.1.2.
Scarcity of farming land: A major natural resource
3.4.1.3.
Stabilized crop production irrespective of climatic changes
3.4.1.4.
Conservation and recycling of natural resources
3.4.2. Industry
pitfalls & challenges
3.4.2.1.
Higher initial investments
3.4.2.2.
Lack of technical acumen
3.4.2.3.
Limitations of crops species grown
3.4.2.4.
High energy consumption (light, air conditioning)
3.5. Growth potential analysis,
2016
3.6. Technology & innovation
landscape
3.6.1. Patent
analysis
3.7. Regulatory trends
3.7.1. U.S.
3.7.2.
Asia-Pacific
3.7.3. Europe
3.8. Porter’s analysis
3.9. Competitive landscape
analysis, 2016
3.9.1. Strategy
dashboard
3.10. PESTEL analysis
3.11. Cost structure analysis
This
latest Vertical Farming Market research report offers in-depth analysis, key
industry insights, market sizing & forecast on a granular level for key
products, applications across number of regional markets. The report also
analyzes the Vertical Farming industry from business strategy perspective,
describing in detail growth drivers, pitfalls &challenges for participants,
accompanied by a detailed competitive benchmarking including company market
share analysis and detailed business profiles.
Reasons to Buy This Report
·
Global
Vertical Farming Market size & forecast by product & application.
·
Growth
drivers, pitfalls & industry challenges.
·
Key
Vertical Farming Market growth opportunities & emerging business models.
·
Competitive
benchmarking with market share analysis and company profiles.
About
Global Market Insights
Global Market Insights, Inc., headquartered in
Delaware, U.S., is a global market research and consulting service provider;
offering syndicated and custom research reports along with growth consulting
services. Our business intelligence and industry research reports offer clients
with penetrative insights and actionable market data specially designed and
presented to aid strategic decision making. These exhaustive reports are
designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy
and biotechnology.
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Global Market Insights, Inc.
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