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Vertical Farming Market By Components (Irrigation component, Lighting, Sensor, Climate control, Building material) By Growth Mechanism (Aeroponics, Hydroponics, Aquaponics) Global size Analysis and Industry Forecast, 2019-2025.

  • Category:Agriculture
  • Published on:06 February, 2019
  • Pages:120
  • Formats:    
  • Report Code: HMI - 134324
  • Publisher:Genesis Market Insights

Overview

Global Vertical Farming Market was valued at USD 1.84 billion in the year 2019. Global Vertical Farming Market is further estimated to grow at a CAGR of 22.61% from 2019 to reach USD 6.25 Billion by the year 2025. The global population is increasing rapidly with increase in demand for food ultimately building pressure on the resources. Implementing vertical farming i.e. growing food in skyscrapers might help overcome these problems.

Green Sense Farms, LLC (U.S.), Illumitex, Inc. (U.S.), American Hydroponics (U.S) and AeroFarms (U.S.) are some of the Key Players in the Global Vertical Farming market. Acquisitions, collaboration, and new product development are their key business strategy to gain market share. APAC followed by North America region holds the highest market share in 2019 and is considered as the fastest growing market in the estimated period. The U.S. is the major market in 2019 at country level and it is further anticipated to grow at a steady pace in the next 5 years.

Drivers

Fast increasing global population and food consumption

Returning farmland to nature

Preservation of Water & Energy

Restrain

Limited range of crops suitable for vertical farming

High start-up costs

Opportunity

Urban development

Diminishing supplies of arable land and water.

Challenge

Use of Artificial Lights

Disputes with the USDA Organic Certification

In Global Vertical Farming Market of all the included components lighting device among irrigation component, sensor, climate control, building material and others and hydroponics as growth mechanism among aeroponics and hydroponics is expected to hold the highest market share during the estimated periodareThe growth is mainly due to Growing Population, speedy adoption of advanced farming, with increasing technological advancement in robotics and automation

On the other hand, Shipping Container Vertical Farms by growth structure is expected to grow at the highest CAGR during the year 2019-2025. Majorly because they?re compact and self-contained, offers easiness of shipment, cheap and readily available. Further, the global population is increasing rapidly with increase in demand for food ultimately building pressure on the resources. Implementing vertical farming i.e. growing food in skyscrapers might help overcome these problems. The global Vertical Farming market was valued at USD 1.5 billion in the year 2016. The global Vertical Farming market is further estimated to grow at a CAGR of 21.65% from 2019 to reach USD 6.3 billion by the year 2025. APAC followed by North America region holds the highest market share in 2016 with North America region is considered as the fastest growing market in the forecasted period. Green Sense Farms, LLC (U.S.), Illumitex, Inc. (U.S.), American Hydroponics (U.S) and AeroFarms (U.S.) are some of the key Players in the Global Vertical Farming market.

Key Benefits for Stakeholders

Vertical farming components Manufacturers, Distributors, and Retailers

Technology Standards Organizations, Forums, Alliances and Associations

End-use industries (Builders)

Technology investors and providers

By Components

Irrigation component

Lighting

Sensor

Climate control

Building material

Others

By Growth Mechanism

Aeroponics

Hydroponics

Aquaponics

By Growth Structure

Building-Based Vertical Farms

Shipping Container Vertical Farms

By Region

North America

Europe

Asia-Pacific

RoW

Key players

Aerofarms

Illumitex, Inc.

Koninklijke Philips N.V.

Sky Greens

Agrilution

Everlight Electronics Co., Ltd.

Green Sense Farms, LLC

American Hydroponics

Vertical Farm Systems

Urban Crops

(Another brief information of 15 companies will be provided in the report)

Research Methodology:

Genesis Market Insights follows in-depth Research Methodology focused on reducing deviation in the collected data. GMI offers the most precise evaluations and projection for the market numbers. GMI engages following Market Engineering techniques ?

Raw Market Data is collected and compared with the Existing in-house Data on a broad front.
Both Bottom-Up and Top-Down approaches are analyzed for segmenting and estimating measurable aspects of the market.
To avoid bias, we filter the collected data collected from authenticated sources.
GMI has a well proven Statistical Modeling System for estimates and forecasts.
Further, the report findings are validated with the Industry Expert Panel on face to face or telephonic interviews.
Panelists are approached from Leading Enterprises across the value chain including manufacturers, suppliers, technology providers, domain experts and buyers so as to validate a thorough and balanced market overview.
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  • Segment-level analysis by shielding type, thermal application, and application, along with market size predictions and estimates, detail key areas of industrial growth.

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