Vertical Farming Market
Global Vertical Farming Market Size, Share & Trends Analysis Report by Structure Type (Building-based Vertical Farming and Shipping Container-based Vertical Farming), by Growth Mechanism (Aeroponics, Hydroponics, and Aquaponics), and by Component (Sensors, Lighting, Climatic Controls, Irrigation Component, Building Material, and Other Components) Forecast, 2021-2027 Update Available - Forecast 2024-2030
The vertical farming approach of growing food involves the farming of fruits and vegetables vertically which combines the design of buildings and farms altogether in a high-rise building inside the cities. The global vertical farming market is projected to grow at a CAGR of 19.2% during the forecast period (2021-2027). The major aspect that drives the growth of the market includes the huge growth in the population across the globe; the increased population demands both the proper land to live as well as food to eat which in turn upsurges the growth of the vertical farming market over the forecast period. Besides, owing to the expensive and scarcity of prime agricultural land, there has been increased adoption of vertical farming across the globe.
Some other factors that enhance the growth of vertical farming include the rising trends of the adoption of organic food, the rising standard of living, improving disposable incomes, along with the variety of innovations and developments in the vertical farming methods. Additionally, several benefits offered by vertical farming such as continuous crop production, elimination of herbicides and pesticides, climate and people-friendly, water conservation, and recycling among many other benefits are likely to create a wide scope for the growth of the vertical farming market. However, the lack of skilled personnel and lack of awareness are the factors challenging the growth of the market over the forecast period.
Segmental Outlook
The global vertical farming market is segmented on the basis of structure type, growth mechanism, and component. Based on the structure type, the market is segmented as building-based vertical farming and shipping container-based vertical farming. Based on the growth mechanism, the market is segmented as aeroponics, hydroponics, and aquaponics. Based on the component, the market is segmented as sensors, lighting, climatic controls, irrigation component, building material, and other components.
Shipping Container-based Vertical Farming to Hold a Significant Market Share
Amongst the structure type segment of the global vertical farming, the shipping container-based vertical farming segment is projected to hold the most lucrative share in the market. The segmental growth of the market is accredited to the various benefits such as offered by the shipping container-based vertical farm segment. Some benefits include easy to transport, does not require a dedicated building for the production, availability of technologically advanced shipping containers among many others. Additionally, the shipping container-based vertical farming also requires less water when compared with building-based vertical farming, which is again one of the key factors that encourages the implementation of shipping container-based vertical farming over traditional building-based vertical farming.
Global Vertical Farming Market, by Structure Type 2020 (%)
Regional Outlook
The global vertical farming market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is projected to hold a significant market share. China, India, Japan, and the Rest of the Asia-Pacific are the major economies primarily contributing to the growth of the vertical farming market in the region. The regional growth of the market is accredited to the rising awareness amongst the farmers regarding the alternative methods of farming which is benefitting the growth of the market in the region. Also, the key companies are expanding their businesses to the untapped regions in emerging economies such as India and China, which further supports the growth of the market. Besides, the support of the government by promoting vertical farming is also driving the market growth in the region. Further, the North American region is also estimated to witness a significant value for the market, attributing to the presence of key players across the region.
Global Vertical Farming Market, by Region 2020 (%)
Market Players Outlook
The prominent players functioning in the global vertical farming market include AeroFarms LLC, Illumitex Inc., Koninklijke Philips N.V., Everlight Electronics Co. Ltd., Hort Americas, LLC, Signify Holding, Sky Greens Pte. Ltd., American Hydroponic Systems Inc., Vertical Farm Systems among others. These key manufacturers are adopting various strategies such as new product launches and approvals, merger and acquisition, partnerships and collaborations, and many others in order to thrive in a competitive environment. For instance, in April 2020, AeroFarms announced to manufacture a 90,000 sq. ft. indoor vertical farm in Abu Dhabi, UAE, as part of a $100 million AgTech investment by Abu Dhabi Investment Office (ADIO). This is likely to serve a large customer base in the area as well as contribute to the growth of the vertical farming market over the forecast period.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global vertical farming market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Vertical Farming Industry
• Recovery Scenario of Global Vertical Farming Industry
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Competitive Dashboard
3.2. Key Strategy Analysis
3.3. Impact of Covid on Key Players
3.4. Key Company Analysis
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Vertical Farming Market by Structure Type
5.1.1. Building-based Vertical Farming
5.1.2. Shipping Container-based Vertical Farming
5.2. Global Vertical Farming Market by Growth Mechanism
5.2.1. Aeroponics
5.2.2. Hydroponics
5.2.3. Aquaponics
5.3. Global Vertical Farming Market by Component
5.3.1. Sensors
5.3.2. Lighting
5.3.3. Climatic Controls
5.3.4. Irrigation Component
5.3.5. Building Material
5.3.6. Other Components
6. Regional Analysis
6.1. North America
6.1.1. US
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. ASEAN
6.3.5. South Korea
6.3.6. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. 4D Bios Inc.
7.2. AeroFarms
7.3. Agrilution GmbH
7.4. Alesca Life Technologies Ltd.
7.5. American Hydroponics Systems Inc. (AMHYDRO)
7.6. Bowery Farming Inc.
7.7. CropBox (Vertial Crop Consultants)
7.8. Everlight Electronics Co., Ltd.
7.9. FarmvisionAI (Illumitex Inc.)
7.10. Freight Farms
7.11. General Hydroponics Inc.
7.12. Gills N Claws Pte. Ltd.
7.13. Gotham Greens
7.14. Green Sense Farms Holdings, Inc.
7.15. GreenTechAgro LLC
7.16. Growpod (GP) Solutions
7.17. GrowUp Farms Ltd.
7.18. Heliospectra AB
7.19. Hort Americas
7.20. Indoor Harvest Corp.
7.21. Intelligent Growth Solutions Ltd.
7.22. Mirai Co. Ltd.
7.23. Plantagon International
7.24. Signify Holding (Koninklijke Philips N.V.)
7.25. Sky Greens Pte. Ltd.
7.26. SPREAD Co. Ltd.
7.27. Vertical Farm Systems
1. GLOBAL VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY STRUCTURE TYPE, 2020-2027 ($ MILLION)
2. GLOBAL BUILDING-BASED VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL SHIPPING CONTAINER-BASED VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY GROWTH MECHANISM, 2020-2027 ($ MILLION)
5. GLOBAL AEROPONICS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
6. GLOBAL HYDROPONICS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL AQUAPONICS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2020-2027 ($ MILLION)
9. GLOBAL SENSORS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL LIGHTING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
11. GLOBAL CLIMATIC CONTROLS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
12. GLOBAL IRRIGATION COMPONENT MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
13. GLOBAL BUILDING MATERIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
14. GLOBAL OTHER COMPONENTS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
15. GLOBAL VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
16. NORTH AMERICAN VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
17. NORTH AMERICAN VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY STRUCTURE TYPE, 2020-2027 ($ MILLION)
18. NORTH AMERICAN VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY GROWTH MECHANISM, 2020-2027 ($ MILLION)
19. NORTH AMERICAN VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2020-2027 ($ MILLION)
20. EUROPEAN VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
21. EUROPEAN VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY STRUCTURE TYPE, 2020-2027 ($ MILLION)
22. EUROPEAN VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY GROWTH MECHANISM, 2020-2027 ($ MILLION)
23. EUROPEAN VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2020-2027 ($ MILLION)
24. ASIA-PACIFIC VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
25. ASIA-PACIFIC VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY STRUCTURE TYPE, 2020-2027 ($ MILLION)
26. ASIA-PACIFIC VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY GROWTH MECHANISM, 2020-2027 ($ MILLION)
27. ASIA-PACIFIC VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2020-2027 ($ MILLION)
28. REST OF THE WORLD VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY STRUCTURE TYPE, 2020-2027 ($ MILLION)
29. REST OF THE WORLD VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY GROWTH MECHANISM, 2020-2027 ($ MILLION)
30. REST OF THE WORLD VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2020-2027 ($ MILLION)
1. GLOBAL VERTICAL FARMING MARKET SHARE BY STRUCTURE TYPE, 2020 VS 2027 (%)
2. GLOBAL VERTICAL FARMING MARKET SHARE BY GROWTH MECHANISM, 2020 VS 2027 (%)
3. GLOBAL VERTICAL FARMING MARKET SHARE BY COMPONENT, 2020 VS 2027 (%)
4. GLOBAL VERTICAL FARMING MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
5. US VERTICAL FARMING MARKET SIZE, 2020-2027 ($ MILLION)
6. CANADA VERTICAL FARMING MARKET SIZE, 2020-2027 ($ MILLION)
7. UK VERTICAL FARMING MARKET SIZE, 2020-2027 ($ MILLION)
8. FRANCE VERTICAL FARMING MARKET SIZE, 2020-2027 ($ MILLION)
9. GERMANY VERTICAL FARMING MARKET SIZE, 2020-2027 ($ MILLION)
10. ITALY VERTICAL FARMING MARKET SIZE, 2020-2027 ($ MILLION)
11. SPAIN VERTICAL FARMING MARKET SIZE, 2020-2027 ($ MILLION)
12. ROE VERTICAL FARMING MARKET SIZE, 2020-2027 ($ MILLION)
13. INDIA VERTICAL FARMING MARKET SIZE, 2020-2027 ($ MILLION)
14. CHINA VERTICAL FARMING MARKET SIZE, 2020-2027 ($ MILLION)
15. JAPAN VERTICAL FARMING MARKET SIZE, 2020-2027 ($ MILLION)
16. ASEAN VERTICAL FARMING MARKET SIZE, 2020-2027 ($ MILLION)
17. SOUTH KOREA VERTICAL FARMING MARKET SIZE, 2020-2027 ($ MILLION)
18. REST OF ASIA-PACIFIC VERTICAL FARMING MARKET SIZE, 2020-2027 ($ MILLION)
19. REST OF THE WORLD VERTICAL FARMING MARKET SIZE, 2020-2027 ($ MILLION)
