Pune, India -- (SBWIRE) -- 10/15/2020 -- The global "Vertical Farming Market" size is projected to reach USD 12.04 Billion by 2026. Increasing technological advancements have allowed improved efficacies as well as enhanced output. According to a report published by Fortune Business Insights, titled "Vertical Farming Market Size, Share & Industry Analysis, By Type (Hydroponics, Aeroponics, and Aquaponics), By Structure (Building-Based, Shipping-Container), By Component (Lighting System, Irrigation and Fertigation System, Climate Control, Sensors, and Others) and Regional Forecast, 2020-2026," the market was worth USD 2.13 billion and will exhibit a CAGR of 24.8% during the forecast period, 2020-2026.
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Vertical Farming is a type of indoor as well as outdoor farming that is used to produce food and medicinal plants. These farms are set up with the aim of growing food in challenging environment. The primary aim of Vertical Farming is to maximize the area per square meter. A Vertical Farming system involves the use of artificial temperature, light, humidity, and other gases. The constantly rising global population, coupled with the growing demand for plants and other vegetation. Increasing adoption of Vertical Farming is attributable to the growing demand for environment-friendly ways of producing vegetables and fruits. Increasing concerns regarding organic food will contribute to the growing demand for Vertical Farming.4.
Some of the leading companies that are operating in the global Vertical Farming Market are:
AeroFarms
Green Sense Farms Holdings, Inc.
4D Bios, Inc.
Agrilution
AMHYDRO
EVERLIGHT ELECTRONICS CO., LTD.
Koninklijke Philips N.V.
Hort Americas
Illumitex Inc.
Sky Greens
Plantagon International
PLENTY UNLIMITED INC
Thrive Agritech.
Vertical Farming Market Landscape and Market Scenario Includes:
Current market size estimate
Revenues by players Top Companies
Market size by product categories
Market size by regions/country
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Key segments within the market
1. By Type
Hydroponics
Aeroponics
Aquaponics
2. By Structure
Building-Based verticle Farms
Shipping-Container verticle Farms
3. By Component
Lighting System
Irrigation and Fertigation System
Climate Control
Sensors
Others
4. By Region
North America (U.S. and Canada)
Europe (U.K., Germany, France, Italy, Spain, The Netherlands and Rest of Europe)
Asia Pacific (China, Japan, India, Singapore, Southeast Asia, and Rest of Asia Pacific)
Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
Asia Pacific to Dominate the Market; Increasing Use of Technologically Advanced Equipment to Aid Growth
The report analyzes the ongoing Vertical Farming Market trends across major regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The market in Asia Pacific is projected to dominate the market in the coming years, driven by growing incorporation of technologically advanced systems in Vertical Farming practices. Besides Asia Pacific, the market in North America will witness considerable growth in the coming years, owing to increasing investments in product R&D. As of 2018, the market in North America was worth USD 664.7 million and this value is likely to increase further in the coming years.
Important Features that are under Offering and Key Highlights of the Market Report:
Detailed overview of Vertical Farming Market Share
Changing market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising market growth
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Key Industry Developments:
May 2020 - Thrive Agritech, Inc., announced the launch of Apex LED grow light for high-intensity applications including supplemental greenhouse lighting and source lighting for indoor farming.
February 2017 - Signify Holding. (Philips Lighting) collaborated with Ecobain Gardens to build first commercial verticle farm operation in Canada. Through this, businesses will be able to accelerate growing cycles and grow healthier, more consistent plants. This partnership offers customers attractive returns on investments via healthier, nutritious and rich foods that attract new customers.
Queries Addressed In Market Report:
What opportunities are present for the Vertical Farming market players to enhance their business footprint?
What manufacturing techniques are being implemented in the development of advanced Construction Equipment?
Which segment is witnessing huge traction from the consumers?
For what purposes, is the market being utilized?
How many units are estimated to be sold in 2020?
Increasing Number of Company Mergers Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of company mergers have had the highest impact on market growth. The increasing investment in the development of newer Vertical Farming equipment, coupled with the efforts put in to acquire medium as well as small scale enterprises will contribute to the growth of the market. In 2017, Signify Holding. (Philips Lighting) announced a collaboration with Ecobain Gardens to build the first ever commercial verticle farm operation in Canada. This partnership offers customers attractive returns on investments via healthier, nutritious and rich foods that attract new customers. The report identifies a few of the leading company mergers of recent times and gauges their impact on the growth of the market.
Key Features of Market Research Report:
This report provides detail analysis of the Vertical Farming market and have a comprehensive understanding of the market and its commercial landscape.
Learn about the various Vertical Farming market strategies that are being adopted by leading companies.
It provides a five-year forecast assessed based on how the market is predicted to grow.
It provides insightful analysis of changing competition dynamics and keeps you ahead of competitors.
To understand the future scope and outlooks for the Vertical Farming market.
Market Forecast by regions, type and application, with sales and revenue, from 2020 to 2026.
Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.
Market Size (sales, revenue) forecast by regions and countries from 2020 to 2023 of industry.
The global Vertical Farming market Growth is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2023. In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
Vertical Farming Market Report also mentions market share accrued by each product in the market, along with the production growth.
Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/vertical-farming-market-101958
Table of Content
5. Global Vertical Farming Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Size Estimates and Forecasts
5.2.1. By Type (Value)
5.2.1.1. Hydroponics
5.2.1.2. Aeroponics
5.2.1.3. Aquaponics
5.2.2. By Structure (Value)
5.2.2.1. Building-Based Vertical Farms
5.2.2.2. Shipping-Container Vertical Farms
5.2.3. By Component (Value)
5.2.3.1. Lighting System
5.2.3.2. Irrigation and Fertigation System
5.2.3.3. Climate Control
5.2.3.4. Sensors
5.2.3.5. Others
5.2.4. By Region (Value)
5.2.4.1. North America
5.2.4.2. Europe
5.2.4.3. Asia Pacific
5.2.4.4. Middle East and Africa
5.2.4.5. Latin America
6. North America Vertical Farming Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Market Size Estimates and Forecasts
6.2.1. By Type (Value)
6.2.1.1. Hydroponics
6.2.1.2. Aeroponics
6.2.1.3. Aquaponics
6.2.2. By Structure (Value)
6.2.2.1. Building-Based Vertical Farms
6.2.2.2. Shipping-Container Vertical Farms
6.2.3. By Component (Value)
6.2.3.1. Lighting System
6.2.3.2. Irrigation and Fertigation System
6.2.3.3. Climate Control
6.2.3.4. Sensors
6.2.3.5. Others
6.2.4. By Country (Value)
6.2.4.1. United States
6.2.4.2. Canada
TOC Continued....!