Vertical Farming Market (Growing Mechanism: Hydroponics, Aeroponics, Aquaponics; Growing Platform: Shipping Containers, Buildings; Crop Type: Greens, Fruits and Flowers, Vine Crops, Strawberry, Herbs, Tomatoes, Cannabis, Others; Hardware Components: Lighting Devices, Hydroponic Components, Climate Control, Sensing Devices) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2012-2023

Aug 11 2017 Pages: 114 Language: English Price: $5495

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The United Nations projects that the global population will rise to around 9.6 billion by 2050 and over 86% of this population will reside in cities. Looking at the current day situation, where people have already began to shift from rural to urban areas in search of better living, the predictions from United Nations certainly hold true. The bulging population in cities would create a huge demand for quality food. The decrease in agricultural activities due to shift from rural to urban area would form a huge demand-supply gap to meet the food demand. Vertical farming, which is capable to grow quality and fresh food in lesser available land and low water could be a viable solution over this problem. Vertical farming is an advanced technique of farming to grow greens, herbs, etc. with the help of artificial lights and controlled environment in an enclosed infrastructure. For growing cities, these urban farms offer easy access to fresh and nutritious food round the year.

The market research study on “Vertical Farming Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2012 – 2023” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global vertical farming market. The report also analyzes the key players operating in vertical farming market and identifies the key strategies deployed by them along with the market share of leading players. The global vertical farming market is segmented as below:

Vertical Farming Market by Growing Mechanism/Channel

Hydroponics

Aeroponics

Aquaponics

Vertical Farming Market by Growing Platform

Shipping Containers

Buildings

Vertical Farming Market by Crop Type

Greens

Fruits and Flowers

Vine Crops

Strawberry

Herbs

Tomatoes

Cannabis

Others

Vertical Farming Market by Hardware Components

Lighting Devices

Hydroponic Components

Climate Control

Sensing Devices

Vertical Farming Market by Geography

North America

Canada

Mexico

Europe

France

Sweden

Norway

Denmark

Netherlands

Rest of Europe

Asia-Pacific

China

Japan

South Korea

Singapore

India

Rest of Asia-Pacific

Rest of the World

UAE

Qatar

Saudi Arabia

South Africa

Rest of the World

Vertical farming includes growing mechanisms such as hydroponics and aeroponics technology which consumes around 70% less water as compared to traditional farming techniques. The urban waste such as sewage water can be recycled and used for vertical farms and sewage sludge can be converted to topsoil. However, high cost associated with setting up a vertical farm in a building in an urban area, considering the ever swelling real estate sector, is one of the major factors restricting the growth of vertical farming market. Another major limitation of vertical farms is that it can grow only limited variety of fruits and veggies.

Currently, Asia-Pacific is the largest market for vertical farming and is expected to maintain its dominance throughout the forecast period. Rising awareness among farmers towards the importance of alternative methods of farming to meet the demand of rapidly growing population, better crop yield in lesser available area and water conservation are the major factors attributing to the growth of vertical farming market in this region.

Some of the leading companies operating in the global vertical farming market include AeroFarms, Brigth Farms, Infinite Harvest Inc., Gotham Greens Holdings LLC, Vertical Harvest Jackson, Home Town Farms, Metro Farms, Garden Fresh, Lufa Farms, and others.