Vertical Farming Market by Growth Mechanism (Hydroponics, Aeroponics, and Aquaponics), Structure (Building Based and Shipping Container), Offering (Hardware, Software, and Service), Crop Type, and Geography - Global Forecast to 2022

“Vertical farming market expected to grow at a CAGR of 24.8% between 2016 and 2022”

According to the new market research report, the vertical farming market is expected to be valued at USD 5.80 billion by 2022, growing at a CAGR of 24.8% between 2016 and 2022. The growth of the vertical farming market could be attributed to the growing urbanization, rising demand for high quality food with no use of pesticides and herbicides, and independent farming technique with low impact of climatic conditions. However, the high initial investments, dearth of technical acumen, and limitations on the variety of crops grown are the restraints in the vertical farming market.

 “Lighting devices and hydroponics components are expected to dominate the hardware segment of vertical farming market between 2016 and 2022”

The lighting devices and hydroponic components are expected to dominate the hardware segment of the vertical farming market. LED grow light and hydroponics growth mechanism dominates the vertical farming market because LED lights have many benefits over the traditional lighting system and hydroponics growth mechanism is easy to implement and their result in terms of the growth of plant is quite good.

“Vertical farming market in Asia-Pacific (APAC) is expected to have the largest share”

This report covers regions such as North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The APAC is expected to have the largest share of the vertical farming market between 2016 and 2022. The high growth of vertical farming in the APAC region is because of developing countries like China, Japan, and Singapore. Japan is the key country as far as vertical farming is concerned. Japan has many plant factories equipped with artificial lights in the operational form. Toshiba (Japan), which is the largest consumer electronics company converted their old factory into vertical facilities and is planning to grow vegetables such as lettuces.    

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. Break-up of the profile of primary participants is given below: 

• By Company Type: Tier 1 – 50%, Tier 2 – 33%, and Tier 3 – 17%

• By Designation: C Level – 39%, Director Level – 31%, and Others – 30%

• By Region: North America – 21%, Europe – 30%, APAC – 42%, RoW – 7%     

The major players in this market include AeroFarms (U.S.), FarmedHere (U.S.), Koninklijke Philips N.V. (Netherlands), Illumitex (U.S.), and Sky Greens (Singapore).

Research Coverage:

This report covers the offering segment, which consists of hardware, software and services of the vertical farming market. In vertical farming different growth mechanisms are used, namely, aeroponics, hydroponics, and aquaponics. The vertical farming market also consists of structure that includes building-based and shipping container vertical farms. The entire vertical farming market is divided based on region into North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW).

Key Benefits of Buying the Report:

• This report includes the market statistics pertaining to offering, structure, growth mechanism, and geography along with their respective revenue.

• Porter’s five forces framework has been provided along with the value chain analysis to provide an insight into the vertical farming market.

• The major drivers, restraints, challenges, and opportunities for the vertical farming market have been detailed in this report.

• Illustrative segmentation, analysis, and forecast for the vertical farming market based on offering, structure, growth mechanism, crop type, and geography has been conducted to give an overall view of the vertical farming market.

• A detailed competitive landscape has been provided that includes key players, in-depth analysis, and revenue of the key players.

1 INTRODUCTION 15

1.1 OBJECTIVES OF THE STUDY 15

1.2 MARKET DEFINITION 15

1.3 STUDY SCOPE 16

1.3.1 MARKET SEGMENTATION 16

1.3.2 YEARS CONSIDERED FOR THE STUDY 16

1.4 CURRENCY 17

1.5 LIMITATIONS 17

1.6 STAKEHOLDERS 17

2 RESEARCH METHODOLOGY 18

2.1 RESEARCH DATA 18

2.1.1 SECONDARY DATA 19

2.1.1.1 Key data from secondary sources 19

2.1.2 PRIMARY DATA 19

2.1.2.1 Key data from primary sources 20

2.1.2.2 Key industry insights 21

2.1.2.3 Breakdown of primaries 21

2.2 MARKET SIZE ESTIMATION 22

2.2.1 BOTTOM-UP APPROACH 23

2.2.2 TOP-DOWN APPROACH 24

2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 25

3 EXECUTIVE SUMMARY 26

4 PREMIUM INSIGHTS 31

4.1 ATTRACTIVE OPPORTUNITIES FOR VERTICAL FARMING MARKET 31

4.2 VERTICAL FARMING MARKET, BY OFFERING 31

4.3 VERTICAL FARMING MARKET, BY HARDWARE 32

4.4 VERTICAL FARMING MARKET, BY GROWTH MECHANISM 32

4.5 VERTICAL FARMING MARKET, BY STRUCTURE 33

4.6 VERTICAL FARMING MARKET, BY GEOGRAPHY 33

4.7 VERTICAL FARMING MARKET, BY GROWTH MECHANISM AND GEOGRAPHY 34

4.8 LIFE CYCLE ANALYSIS, BY GROWTH MECHANISM 35

 

5 MARKET OVERVIEW 36

5.1 INTRODUCTION 37

5.2 EVOLUTION OF VERTICAL FARMING 37

5.3 MARKET SEGMENTATION 38

5.3.1 BY OFFERING 38

5.3.2 BY STRUCTURE 38

5.3.3 BY GROWTH MECHANISM 39

5.3.4 BY CROP TYPE 39

5.3.5 BY GEOGRAPHY 39

5.4 MARKET DYNAMICS 40

5.4.1 DRIVERS 40

5.4.1.1 Rising demand for high-quality food, without pesticides or herbicides 40

5.4.1.2 Independent farming technique with very less/no impact of climatic conditions 41

5.4.1.3 Possible to grow vegetables and fruits in a limited space 41

5.4.2 RESTRAINTS 42

5.4.2.1 High initial investments 42

5.4.2.2 Lack of technical know-how 42

5.4.2.3 Limitations on the variety of crops grown 43

5.4.3 OPPORTUNITIES 43

5.4.3.1 Growing opportunities for vertical farming in APAC 43

5.4.3.2 Production of biopharmaceutical products 43

5.4.4 CHALLENGES 44

5.4.4.1 Vertical farms on a large scale 44

6 INDUSTRY TRENDS 45

6.1 INTRODUCTION 45

6.2 VALUE CHAIN ANALYSIS 45

6.3 PORTER’S FIVE FORCES ANALYSIS 47

6.3.1 BARGAINING POWER OF SUPPLIERS 48

6.3.2 BARGAINING POWER OF BUYERS 49

6.3.3 THREAT OF NEW ENTRANTS 50

6.3.4 THREAT OF SUBSTITUTES 51

6.3.5 INTENSITY OF COMPETITIVE RIVALRY 52

7 VERTICAL FARMING MARKET, BY GROWTH MECHANISM 53

7.1 INTRODUCTION 54

7.2 AEROPONICS 55

7.3 HYDROPONICS 57

7.4 AQUAPONICS 59

8 VERTICAL FARMING MARKET, BY STRUCTURE 61

8.1 INTRODUCTION 62

8.2 BUILDING-BASED VERTICAL FARMS 63

8.3 SHIPPING CONTAINER VERTICAL FARMS 63

9 GLOBAL VERTICAL FARMING MARKET, BY CROP TYPE 65

9.1 INTRODUCTION 66

9.2 MICRO AND MACRO ECONOMIC FRAMEWORK 68

9.2.1 DEMAND ANALYSIS AND TRENDS INVOLVED 68

9.2.1.1 Increasing per capita global GDP over the years 68

9.2.1.2 Increasing urbanization and rising disposable income among consumers in developing countries 69

9.2.1.3 Growing health consciousness among consumers 69

9.2.1.3.1 Increasing demand for organic food 70

9.2.1.3.2 Growing consumer demand for local food 70

9.2.2 SUPPLY ANALYSIS AND TRENDS INVOLVED 70

9.2.2.1 Flexibility of farm location 71

9.2.2.2 Seasonality 71

9.2.2.3 Improvement of food supply chain 71

9.2.3 GROWING OVERALL DEMAND FOR FRUITS AND VEGETABLES 71

9.2.4 GREEN LEAFY VEGETABLES IN VERTICAL FARMING 72

9.2.5 STRAWBERRIES IN VERTICAL FARMING 73

9.2.6 GLOBAL VERTICAL FARMING MARKET, BY GEOGRAPHY 73

9.2.7 GLOBAL VERTICAL FARMING MARKET, BY CROP TYPE 74

9.2.7.1 North America 76

9.2.7.2 Europe 77

9.2.7.3 APAC 79

9.2.7.4 RoW 80

9.3 MARKET TRENDS 82

9.3.1 NORTH AMERICA 83

9.3.1.1 AeroFarms LLC 83

9.3.1.2 Gotham Greens LLC 83

9.3.1.3 Green Sense Farms LLC 84

9.3.2 APAC 84

9.3.2.1 Sky Greens 84

9.3.2.2 Mirai Co., Ltd. 85

9.3.2.3 SCATIL 85

9.3.3 EUROPE 85

9.3.3.1 Plantagon 86

9.3.3.2 Infarm GmbH 86

 

10 VERTICAL FARMING MARKET, BY OFFERING 87

10.1 INTRODUCTION 88

10.2 LIGHTING 90

10.2.1 GROW LIGHTS 91

10.2.2 GROW LIGHT REFLECTORS 91

10.2.3 GROW LIGHT BALLASTS 91

10.3 HYDROPONICS COMPONENTS 92

10.3.1 PUMPS AND IRRIGATION 92

10.3.2 METERS AND SOLUTIONS 93

10.3.3 WATER FILTRATION 93

10.3.4 OTHERS 93

10.4 CLIMATE CONTROL 94

10.4.1 VENTILATION FANS 94

10.4.2 AIR PURIFICATION/CONTROL 95

10.4.3 OTHERS 95

10.5 SENSORS 96

10.5.1 TEMPERATURE SENSORS 96

10.5.2 CO2 SENSORS 97

10.5.3 NUTRIENT SENSORS 97

10.5.4 PH SENSORS 97

10.5.5 CROP SENSORS 98

10.5.6 OTHERS 98

11 GEOGRAPHIC ANALYSIS 100

11.1 INTRODUCTION 101

11.2 NORTH AMERICA 104

11.2.1 U.S. 109

11.2.2 CANADA 110

11.2.3 MEXICO 111

11.3 EUROPE 113

11.3.1 U.K. 119

11.3.2 FRANCE 119

11.3.3 SWEDEN 120

11.3.4 THE NETHERLANDS 121

11.3.5 REST OF EUROPE 121

11.4 APAC 123

11.4.1 JAPAN 128

11.4.2 SINGAPORE 129

11.4.3 CHINA 130

11.4.4 TAIWAN 131

11.4.5 REST OF APAC 131

11.5 ROW 132

11.5.1 MIDDLE-EAST 136

11.5.2 AFRICA 137

11.5.3 SOUTH AMERICA 137

12 COMPETITIVE LANDSCAPE 139

12.1 INTRODUCTION 139

12.2 MARKET RANKING FOR VERTICAL FARMING MARKET, 2016 140

12.3 COMPETITIVE SCENARIO 141

12.4 DEVELOPMENTS 143

12.4.1 CONTRACTS AND PARTNERSHIPS 143

12.4.2 EXPANSIONS 144

12.4.3 NEW PRODUCT DEVELOPMENTS 145

13 COMPANY PROFILES 146

(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, Ratio Analysis, MnM View)*

13.1 INTRODUCTION 146

13.2 KONINKLIJKE PHILIPS N.V. 147

13.3 AEROFARMS 150

13.4 SKY GREENS 152

13.5 ILLUMITEX, INC. 154

13.6 EVERLIGHT ELECTRONICS CO., LTD. 157

13.7 GREEN SENSE FARMS, LLC 159

13.8 AGRILUTION 160

13.9 AMERICAN HYDROPONICS 161

13.10 URBAN CROPS 162

13.11 VERTICAL FARM SYSTEMS 163

*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.

14 APPENDIX 164

14.1 INSIGHTS FROM INDUSTRY EXPERTS 164

14.2 DISCUSSION GUIDE 165

LIST OF TABLES

TABLE 1 MARKET SEGMENTATION: BY OFFERING 38

TABLE 2 MARKET SEGMENTATION: BY STRUCTURE 38

TABLE 3 MARKET SEGMENTATION: BY GROWTH MECHANISM 39

TABLE 4 MARKET SEGMENTATION: BY CROP TYPE 39

TABLE 5 GLOBAL VERTICAL FARMING MARKET SIZE, BY GROWTH MECHANISM, 2013-2022 (USD MILLION) 55

TABLE 6 AEROPONICS GROWTH MECHANISM SEGMENT, BY GEOGRAPHY, 2013–2022 (USD MILLION) 56

TABLE 7 HYDROPONICS GROWTH MECHANISM SEGMENT, BY GEOGRAPHY, 2013–2022 (USD MILLION) 58

TABLE 8 AQUAPONICS GROWTH MECHANISM SEGMENT, BY GEOGRAPHY, 2013–2022 (USD MILLION) 59

TABLE 9 GLOBAL VERTICAL FARMING MARKET, BY STRUCTURE, 2013-2022 (USD MILLION) 62

TABLE 10 BUILDING-BASED VERTICAL FARMS MARKET SIZE, BY GEOGRAPHY, 2013–2022 (USD MILLION) 63

TABLE 11 SHIPPING CONTAINER VERTICAL FARMS, MARKET SIZE, BY GEOGRAPHY, 2013–2022 (USD MILLION) 64

TABLE 12 GLOBAL VERTICAL FARMING MARKET, BY GEOGRAPHY, 2014-2022 (USD MILLION) 74

TABLE 13 GLOBAL VERTICAL FARMING MARKET SIZE, BY CROP TYPE, 2014-2022 (USD MILLION) 75

TABLE 14 NORTH AMERICAN VERTICAL FARMING MARKET, BY CROP TYPE, 2014-2022 (USD MILLION) 76

TABLE 15 NORTH AMERICAN VERTICAL FARMING MARKET, BY COUNTRY, 2014-2022 (USD MILLION) 77

TABLE 16 EUROPEAN VERTICAL FARMING MARKET, BY CROP TYPE, 2014-2022 (USD MILLION) 78

TABLE 17 EUROPEAN VERTICAL FARMING MARKET, BY COUNTRY, 2014-2022 (USD MILLION) 78

TABLE 18 APAC VERTICAL FARMING MARKET, BY CROP TYPE, 2014-2022 (USD MILLION) 79

TABLE 19 APAC VERTICAL FARMING MARKET, BY COUNTRY, 2014-2022 (USD MILLION) 80

TABLE 20 ROW VERTICAL FARMING MARKET, BY CROP TYPE, 2014-2022 (USD MILLION) 81

TABLE 21 ROW VERTICAL FARMING MARKET, BY COUNTRY, 2014-2022 (USD MILLION) 81

TABLE 22 HARDWARE SEGMENT OF VERTICAL FARMING MARKET, BY OFFERING, 2013–2022 (USD MILLION) 88

TABLE 23 VERTICAL FARMING MARKET SIZE, BY HARDWARE TYPE, 2013–2022 (USD MILLION) 89

TABLE 24 VERTICAL FARMING MARKET SIZE FOR HARDWARE, BY LIGHTING, 2013–2022 (USD MILLION) 90

TABLE 25 VERTICAL FARMING MARKET SIZE FOR HARDWARE, BY HYDROPONICS COMPONENTS, 2013–2022 (USD MILLION) 93

TABLE 26 VERTICAL FARMING MARKET SIZE FOR HARDWARE, BY CLIMATE CONTROL, 2013–2022 (USD MILLION) 95

TABLE 27 VERTICAL FARMING MARKET SIZE FOR HARDWARE, BY SENSORS, 2013–2022 (USD MILLION) 98

TABLE 28 GLOBAL VERTICAL FARMING MARKET SIZE, BY GEOGRAPHY, 2013–2022 (USD MILLION) 101

TABLE 29 LIGHTING DEVICES MARKET SIZE, BY GEOGRAPHY, 2013–2022 (USD MILLION) 102

TABLE 30 HYDROPONICS COMPONENTS MARKET SIZE, BY GEOGRAPHY, 2013–2022 (USD MILLION) 103

TABLE 31 CLIMATE CONTROL DEVICES MARKET SIZE, BY GEOGRAPHY, 2013–2022 (USD MILLION) 103

TABLE 32 SENSORS MARKET SIZE, BY GEOGRAPHY, 2013-2022 (USD MILLION) 104

TABLE 33 NORTH AMERICAN VERTICAL FARMING MARKET, BY COUNTRY, 2013–2022 (USD MILLION) 106

TABLE 34 NORTH AMERICAN VERTICAL FARMING MARKET, BY STRUCTURE, 2013–2022 (USD MILLION) 106

TABLE 35 NORTH AMERICAN VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 106

TABLE 36 NORTH AMERICAN VERTICAL FARMING MARKET FOR LIGHTING DEVICES, BY COUNTRY, 2013–2022 (USD MILLION) 107

TABLE 37 NORTH AMERICAN VERTICAL FARMING MARKET FOR HYDROPONICS COMPONENTS, BY COUNTRY, 2013–2022 (USD MILLION) 107

TABLE 38 NORTH AMERICAN VERTICAL FARMING MARKET FOR CLIMATE CONTROL DEVICES, BY COUNTRY, 2013–2022 (USD MILLION) 108

TABLE 39 NORTH AMERICAN VERTICAL FARMING MARKET FOR SENSORS, BY COUNTRY, 2013–2022 (USD MILLION) 108

TABLE 40 U.S. VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 110

TABLE 41 CANADIAN VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 111

TABLE 42 MEXICAN VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 111

TABLE 43 EUROPEAN VERTICAL FARMING MARKET, BY COUNTRY, 2013–2022 (USD MILLION) 115

TABLE 44 EUROPEAN VERTICAL FARMING MARKET, BY STRUCTURE, 2013–2022 (USD MILLION) 115

TABLE 45 EUROPEAN VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 116

TABLE 46 EUROPEAN VERTICAL FARMING MARKET FOR LIGHTING DEVICES, BY COUNTRY, 2013–2022 (USD MILLION) 116

TABLE 47 EUROPEAN VERTICAL FARMING MARKET FOR HYDROPONICS COMPONENTS, BY COUNTRY, 2013–2022 (USD MILLION) 117

TABLE 48 EUROPEAN VERTICAL FARMING MARKET FOR CLIMATE CONTROL DEVICES, BY COUNTRY, 2013–2022 (USD MILLION) 117

TABLE 49 EUROPEAN VERTICAL FARMING MARKET FOR SENSORS, BY COUNTRY, 2013–2022 (USD MILLION) 118

TABLE 50 U.K. VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 119

TABLE 51 FRENCH VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 120

TABLE 52 SWEDISH VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 120

TABLE 53 VERTICAL FARMING MARKET IN THE NETHERLANDS, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 121

TABLE 54 VERTICAL FARMING MARKET IN REST OF EUROPE, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 121

TABLE 55 APAC VERTICAL FARMING MARKET, BY COUNTRY, 2013–2022 (USD MILLION) 125

TABLE 56 APAC VERTICAL FARMING MARKET, BY STRUCTURE, 2013–2022 (USD MILLION) 125

TABLE 57 APAC VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 126

TABLE 58 APAC VERTICAL FARMING MARKET FOR LIGHTING DEVICES, BY COUNTRY, 2013–2022 (USD MILLION) 126

TABLE 59 APAC VERTICAL FARMING MARKET FOR HYDROPONICS COMPONENTS, BY COUNTRY, 2013–2022 (USD MILLION) 127

TABLE 60 APAC VERTICAL FARMING MARKET FOR CLIMATE CONTROL DEVICES, BY COUNTRY, 2013–2022 (USD MILLION) 127

TABLE 61 APAC VERTICAL FARMING MARKET FOR SENSORS, BY COUNTRY, 2013–2022 (USD MILLION) 128

TABLE 62 JAPANESE VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 129

TABLE 63 SINGAPORE VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 130

TABLE 64 CHINESE VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 130

TABLE 65 TAIWANESE VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 131

TABLE 66 REST OF APAC VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 131

TABLE 67 VERTICAL FARMING MARKET IN ROW, BY REGION, 2013–2022 (USD MILLION) 132

TABLE 68 VERTICAL FARMING MARKET IN ROW, BY STRUCTURE, 2013–2022 (USD MILLION) 133

TABLE 69 VERTICAL FARMING MARKET IN ROW, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 133

TABLE 70 VERTICAL FARMING MARKET IN ROW FOR LIGHTING DEVICES, BY REGION, 2013–2022 (USD MILLION) 134

TABLE 71 VERTICAL FARMING MARKET IN ROW FOR HYDROPONICS COMPONENTS, BY REGION, 2013–2022 (USD MILLION) 134

TABLE 72 VERTICAL FARMING MARKET IN ROW FOR CLIMATE CONTROL DEVICES,BY REGION, 2013–2022 (USD MILLION) 135

TABLE 73 VERTICAL FARMING MARKET IN ROW FOR SENSORS, BY REGION, 2013–2022 (USD MILLION) 135

TABLE 74 VERTICAL FARMING MARKET IN MIDDLE-EAST, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 136

TABLE 75 AFRICAN VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 137

TABLE 76 VERTICAL FARMING MARKET IN SOUTH AMERICA, BY GROWTH MECHANISM, 2013–2022 (USD MILLION) 138

TABLE 77 MARKET RANK ANALYSIS OF THE TOP PLAYERS IN THE VERTICAL FARMING MARKET 140

TABLE 78 CONTRACTS AND PARTNERSHIPS, 2014–2016 143

TABLE 79 EXPANSIONS, 2015–2016 144

TABLE 80 NEW PRODUCT DEVELOPMENTS, 2015–2016 145

LIST OF FIGURES

FIGURE 1 VERTICAL FARMING MARKET: RESEARCH METHODOLOGY 18

FIGURE 2 RESEARCH FLOW 22

FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 23

FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 24

FIGURE 5 DATA TRIANGULATION: VERTICAL FARMING MARKET 25

FIGURE 6 HARDWARE SEGMENT TO LEAD VERTICAL FARMING MARKET, BY OFFERING, 2016-2022 (USD MILLION) 27

FIGURE 7 LIGHTING DEVICES SUB-SEGMENT OF HARDWARE SEGMENT TO LEAD VERTICAL FARMING MARKET, BY 2022 (USD MILLION) 27

FIGURE 8 AEROPONICS SEGMENT TO RECORD HIGHEST CAGR OF VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2016-2022 (USD MILLION) 28

FIGURE 9 BUILDING-BASED SEGMENT TO RECORD HIGHEST CAGR OF VERTICAL FARMING MARKET, BY STRUCTURE, 2016-2022 (USD MILLION) 29

FIGURE 10 AIR PURIFICATION AND CONTROL SUB-SEGMENT OF HARDWARE SEGMENT TO RECORD HIGHEST CAGR, 2016-2022 29

FIGURE 11 APAC HELD LARGEST SHARE OF GLOBAL VERTICAL FARMING MARKET, IN 2016 30

FIGURE 12 GLOBAL VERTICAL FARMING MARKET TO RECORD HIGH CAGR, 2016-2022 31

FIGURE 13 HARDWARE SEGMENT TO LEAD VERTICAL FARMING MARKET, 2016-2022 (USD MILLION) 31

FIGURE 14 LIGHTING DEVICES SEGMENT TO LEAD VERTICAL FARMING MARKET, 2016-2022 (USD MILLION) 32

FIGURE 15 AEROPONICS GROWTH MECHANISM SEGMENT TO RECORD HIGHEST CAGR,2016-2022 (USD MILLION) 32

FIGURE 16 BUILDING-BASED VERTICAL FARMS TO OVERTAKE SHIPPING CONTAINER VERTICAL FARMS, BY 2022 33

FIGURE 17 APAC TO LEAD GLOBAL VERTICAL FARMING MARKET, 2016-2022 (USD MILLION) 33

FIGURE 18 HYDROPONICS GROWTH MECHANISM SEGMENT HELD LARGEST MARKET SHARE IN 2016 34

FIGURE 19 HYDROPONICS GROWTH MECHANISM IS IN ITS GROWTH STAGE 35

FIGURE 20 EVOLUTION OF THE VERTICAL FARMING MARKET 37

FIGURE 21 MARKET SEGMENTATION: BY GEOGRAPHY 39

FIGURE 22 DRIVERS, RESTRAINTS, OPPORTUNITIES, CHALLENGES: VERTICAL FARMING MARKET 40

FIGURE 23 DAMAGE AND LOSS TO CROPS, BY TYPE OF CALAMITY (2003-2013) 41

FIGURE 24 WORLD POPULATION (2015–2050) 42

FIGURE 25 VALUE CHAIN ANALYSIS: 2016 45

FIGURE 26 PORTER’S FIVE FORCES ANALYSIS OF VERTICAL FARMING MARKET 47

FIGURE 27 PORTER’S FIVE FORCES: IMPACT ANALYSIS 48

FIGURE 28 BARGAINING POWER OF SUPPLIERS: LOW 48

FIGURE 29 BARGAINING POWER OF BUYERS: MEDIUM 49

FIGURE 30 THREAT OF NEW ENTRANTS: HIGH 50

FIGURE 31 THREAT OF SUBSTITUTES: LOW 51

FIGURE 32 INTENSITY OF COMPETITIVE RIVALRY 52

FIGURE 33 VERTICAL FARMING MARKET, BY GROWTH MECHANISM 54

FIGURE 34 HYDROPONICS SEGMENT LED GLOBAL VERTICAL FARMING MARKET, BY GROWTH MECHANISM, IN 2016 (USD MILLION) 54

FIGURE 35 AEROPONICS GROWTH MECHANISM SEGMENT, BY GEOGRAPHY, 2016–2022 (USD MILLION) 56

FIGURE 36 HYDROPONICS GROWTH MECHANISM SEGMENT, BY GEOGRAPHY, 2016–2022 (USD MILLION) 57

FIGURE 37 AQUAPONICS GROWTH MECHANISM SEGMENT, BY GEOGRAPHY, 2016–2022 (USD MILLION) 59

FIGURE 38 VERTICAL FARMING MARKET, BY STRUCTURE 62

FIGURE 39 BUILDING-BASED VERTICAL FARMS TO RECORD HIGHEST CAGR, 2016-2022 62

FIGURE 40 SHIPPING CONTAINER VERTICAL FARMS, BY GEOGRAPHY, 2016–2022 64

FIGURE 41 GLOBAL VERTICAL FARMING MARKET SIZE, BY CROP TYPE: A SNAPSHOT 67

FIGURE 42 VERTICAL FARMING MARKET: SWOT ANALYSIS 68

FIGURE 43 GLOBAL PER CAPITA GDP, 2008–2014 (CURRENT USD) 69

FIGURE 44 PRODUCTION OF VEGETABLES AND FRUITS WITH GROWING WORLD POPULATION 72

FIGURE 45 GLOBAL VERTICAL FARMING MARKET SIZE, BY GEOGRAPHY, 2016 VS. 2022 (USD MILLION) 74

FIGURE 46 GLOBAL VERTICAL FARMING MARKET SIZE, BY CROP TYPE, 2016 VS. 2022 (USD MILLION) 75

FIGURE 47 MAJOR VERTICAL FARMS AROUND THE WORLD 82

FIGURE 48 VERTICAL FARMING MARKET, BY OFFERING 88

FIGURE 49 VERTICAL FARMING MARKET, BY HARDWARE 89

FIGURE 50 GROW LIGHTS TO LEAD HARDWARE SEGMENT OF VERTICAL FARMING MARKET, 2016-2022 (USD MILLION) 92

FIGURE 51 METERS AND SOLUTIONS SEGMENT OF HYDROPONICS COMPONENTS MARKET TO RECORD HIGHEST CAGR, 2016-2022 (USD MILLION) 94

FIGURE 52 AIR PURIFICATION AND CONTROL SEGMENT OF CLIMATE CONTROL MARKET TO RECORD HIGHEST CAGR, 2016-2022 (USD MILLION) 96

FIGURE 53 TEMPERATURE SENSORS SEGMENT TO LEAD SENSORS MARKET, 2016-2022 (USD MILLION) 99

FIGURE 54 VERTICAL FARMING MARKET, BY GEOGRAPHY 101

FIGURE 55 GEOGRAPHIC SNAPSHOT: APAC A KEY GROWTH REGION FOR VERTICAL FARMING MARKET, 2016-2022 102

FIGURE 56 NORTH AMERICAN VERTICAL FARMING MARKET, 2016 105

FIGURE 57 U.S. DOMINATED NORTH AMERICAN VERTICAL FARMING MARKET IN 2016 109

FIGURE 58 AEROPONICS GROWTH MECHANISM SEGMENT IN U.S. TO RECORD HIGHEST CAGR, 2016-2022 (USD MILLION) 112

FIGURE 59 EUROPEAN VERTICAL FARMING MARKET, 2016 114

FIGURE 60 EUROPEAN VERTICAL FARMING MARKET, 2016 TO 2022 118

FIGURE 61 AEROPONICS GROWTH MECHANISM SEGMENT IN REST OF EUROPE TO RECORD HIGHEST CAGR, 2016-2022 (USD MILLION) 122

FIGURE 62 APAC VERTICAL FARMING MARKET, 2016 124

FIGURE 63 JAPAN LED APAC VERTICAL FARMING MARKET IN 2016 (USD MILLION) 128

FIGURE 64 AEROPONICS GROWTH MECHANISM SEGMENT IN CHINA TO RECORD HIGHEST CAGR, 2016-2022 (USD MILLION) 132

FIGURE 65 MIDDLE-EAST LEADS THE ROW VERTICAL FARMING MARKET, 2016-2022 (USD MILLION) 136

FIGURE 66 AEROPONICS GROWTH MECHANISM SEGMENT IN MIDDLE-EAST TO RECORD HIGHEST CAGR, 2016-2022 (USD MILLION) 138

FIGURE 67 COMPANIES ADOPTED CONTRACTS AND PARTNERSHIPS AS KEY GROWTH STRATEGIES BETWEEN 2013 AND 2016 139

FIGURE 68 MARKET EVALUATION FRAMEWORK—CONTRACTS AND PARTNERSHIPS & EXPANSIONS BETWEEN 2013 AND 2016 141

FIGURE 69 CONTRACTS AND PARTNERSHIPS: KEY GROWTH STRATEGY ADOPTED BY MARKET PLAYERS 142

FIGURE 70 GEOGRAPHIC REVENUE MIX OF KEY MARKET PLAYERS 146

FIGURE 71 KONINKLIJKE PHILIPS N.V.: COMPANY SNAPSHOT 147

FIGURE 72 KONINKLIJKE PHILIPS N.V.: SWOT ANALYSIS 149

FIGURE 73 AEROFARMS: SWOT ANALYSIS 151

FIGURE 74 SKY GREENS: SWOT ANALYSIS 153

FIGURE 75 ILLUMITEX, INC.: SWOT ANALYSIS 156

FIGURE 76 EVERLIGHT ELECTRONICS CO., LTD.: COMPANY SNAPSHOT 157