Global vertical farming market report provides the insights on various levels of the analyzes such as industry analysis, market share analysis leading market players and their profiles. The research report helps in studying the target segments which will help to shape the business growth. This Global vertical farming market report is the believable source that offers market share, product portfolio and company profiles. The competitive market scenario among the market players will help the industry aspirants in planning their strategies. The Global vertical farming market report gives the principle locales, economic situations with the item, value, benefit and market development rate. This Global vertical farming market report additionally present SWOT examination, speculation attainability investigation and venture return investigation. Global vertical farming market is projected to register healthy CAGR of 23.5% in the forecast period of 2019 to 2026.
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The vertical farming is performed in indoor conditions where vertically stacked trays are used to grow plants with the help of artificial lighting. This is being utilized for manufacturing various crop such as latus, cabbage and other leafy vegetables effectively. Vertical farming is considered to be the more sustainable and revolutionary method of agriculture than traditional agriculture and greenhouse farming. It requires very less water and saves considerable soil and space. This farming method is useful in challenging environments such as cities, mountainside towns and deserts.
Global Vertical Farming Market By Growth Mechanism (Aeroponics, Hydroponics, Aquaponics), Structure (Building-Based, Shipping Container), Type (Biopesticides, Biostimulants, Biofertilizers), Application (Indoor, Outdoor), Crop Type (Leafy Green, Pollinated Plants, Nutraceutical Plants), Component (Lighting, Hydroponic Component, Climate Control, Sensors), Geography (Asia-Pacific, North America, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Some of the major players operating in global vertical farming market are AeroFarms, Gills N Claws Pte Ltd, Illumitex Inc., MOFLO aeroponics, Sky Greens, SPREAD Co., Ltd., Triton Foodworks, ZipGrow Inc., Urban Crop Solutions, AmHydro, EVERLIGHT ELECTRONICS CO., LTD., Agrinamics., CropOne, PLENTY UNLIMITED INC, OSRAM GmbH, Valoya, Signify Holding, HELIOSPECTRA AB, Altius Farms, CubicFarm Systems Inc., Agrilution, Green Sense Farms Holdings, Inc., Bowery Farming, Inc., Infarm, among others.
This market report defines the market trends and forecast the upcoming opportunities and threats of the vertical farming market in the next 8 years. A vertical farm is the practice of growing plants and producing crops in vertically layers, such as in a skyscraper, by using warehouses, or by shipping container, which makes the best use of the location’s square footage. Mostly, it is achieved by using shelves which are hung on a wall or fence. Growing capability of vertical farms is much faster than traditional. It can feed more individuals when compared to regular farming because as it grows 75 times more food per square foot when compared to a traditional farming. Vertical farming helps farmers to deliver their product on time and satisfying all supply based contracts. Furthermore, another advantage of vertical farming is that there is neither agricultural overflow nor there is any concept of seasonal crop in this process. Various advancements are observed in this field, for instance, whole plant technologies earlier launched grow tray system which have been considered to provide higher yields and faster harvests that maximizes profits by growing crops with zero drain-to-waste.
Major Market Drivers:
- Increasing demand for high-quality food
- Independent farming technique
- Able to produce vegetables and fruits in a small space
- High capital.
- Varieties of crops grown are limited.
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Segmentation: Global Vertical Farming Market
Global vertical farming market is segmented into six notable segments that are growth mechanism, structure, type, application, crop type and component.
- On the basis of growth mechanism, the market is segmented into aeroponics, hydroponics, and aquaponics
- In June 2019, Sky Greens has tasted the feasibility of exhibiting vertical farms on the rooftop of schools, multi-storey carparks and Housing Development Board (HDB) buildings. This development helps the company to increase the customer base.
- On the basis of structure, the market is segmented into building-based and shipping container
- In April 2019, Bowery Farming Inc. indoor farming company announced the development in the sales strategy. The Bowery products will now available with two grocery delivery services such as amazon fresh and peapod. The company will increase the customer base mostly in urban population and revenue through this strategy.
- On the basis of type, the market is segmented into biopesticides, biostimulants and biofertilizers
- In November 2018, Fluence by OSRAM has been awarded as top lighting company of 2018 in Canadian Cannabis Awards. This award will help the company to get worldwide recognition in horticulture lighting.
- On the basis of application, the market is segmented into indoor and outdoor
- In July 2018, Agrilution, a complete vertical farming ecosystem provider has been awarded at Green Product Award 2018 event. The plantcube product brought the innovation in urban farming and the award is given for the intelligent water supply technology. This award recognition will increase the company brand value in the market.
- On the basis of crop type, the market is segmented into leafy green, pollinated plants and nutraceutical plants
- In March 2018, EVERLIGHT ELECTRONICS CO., LTD demonstrated its 5630X-ELB LED series and horticulture fit LEDs as well as other lighting products, such as luminaires for fish and horticulture lighting. These lightings have advantages such as luminous stability and efficiency to provide best possible solution for industrial, professional, and commercial applications. This development will help the company to enhance their product portfolio.
- On the basis of component, the market is segmented into lighting, hydroponic components, climate control and sensors
- In February 2017, Philips Lighting and Ecobain Gardens band up together to build first commercial vertical farm operation in Canada. This will improve crop quality and consistency. Through this partnership, Philips lighting help Ecobain to accelerate growing cycle and improve the production at commercial scale. This partnership will give attractive return on investment to customers through healthier and nutrient rich food which results in attracting new customers.
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