Vertical Farming Market Size is estimated to expand rapidly in coming years, at a CAGR of 23.5 % from 2018 to 2025. In 2017, the global market valuation was USD xx.xx billion, and it is anticipated to be greater than USD 2.36 billion by 2025. Vertical farming is a technique of producing food and medicine in vertically stacked layers, vertically inclined surfaces. The modern ideas of vertical farming use indoor farming techniques and controlled-environment agriculture (CEA) technology, where many environmental factors can be controlled such as artificial control of light, humidity, temperature and gases. Hydroponic systems can be lit by LEDs that mimic sunlight. Software can ensure that all the plants get the same amount of light, water and nutrients. Proper management means that no herbicides or pesticides are required. Asia Pacific is expected to be the highest growing region in the global owing to the high under crop cultivation.
This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global vertical farming market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global vertical farming market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW
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By Growth Mechanism Insights: On the basis of growth mechanism, global vertical farming market has been segmented into hydroponics, aeroponics, and aquaponics. Among which hydroponics segment is expected to be the highest growing segment in the global market of vertical farming. With the help of hydroponics technology consumer can grow plants in soilless or in aquatic based environment. Hydroponics is the widely used growth mechanism in vertical farms. To overcome shortcomings such as climate changes, soil contamination, limited space in urban areas, and most importantly, lack of water are expected to drive the market in vertical farming market.
By Structure Insights: On the basis of structure, global vertical farming market has been segmented into building based and shipping container. Among which building based segment is expected to be the highest growing segment in the global market of vertical farming. The technological precedents that make vertical farming possible can be traced back to horticultural history through the development of greenhouse and hydroponic technology. Early hydroponics integrated hydroponic technology into building systems. These horticultural building systems evolved from greenhouse technology.
The global vertical farming market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players.
In terms of region Asia Pacific region is expected to witness high growth in the market in upcoming time period. Increase in population and limited agricultural land are some of the key points which will dominate the market growth in forecast period. Increasing number of farms and numerous technologies used by countries such as China and Japan will contribute in the global market in operational form.
North America is expected to witness high growth in upcoming time span due to high demand greenhouse sector and increasing awareness amongst consumers. Technical advancements is also one of the reason behind market uplifting. Europe is anticipated to dominate the global vertical farming market over the projected period majorly owing to technological connectivity and highly cost-effective business strategies.
Global Vertical Farming Market Study Objective
To forecast the market size of vertical farming market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.
Market analysis and forecast of vertical farming market on the basis of region, substrate, and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.
To analyze and elaborate significant factors that will have a major impact on the growth of vertical farming market, such as drivers, restraints, challenges, and opportunities.
The regional analysis of vertical farming market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa, and the Asia Pacific.
Strategic analysis of micro markets, in terms of individual prospects, opportunities, growth trends and their involvement in the overall market. To provide detailed analysis of competitive and strategic developments in the vertical farming market like a new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions
Key Players Landscape
Koninklijke Philips N.V., Everlight Electronics, Illumitex, Sky Farms, AeroFarms LLC, Green Sense Farms, American Hydroponics, Agrilution, Urban Crops, Vertical Farm Systems are some of the key players in the market of vertical farming.
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