Vertical Farming Market Size, Trends, Growth & Outlook

Vertical Farming Market by Component (Irrigation Component, Lighting, Sensor, Climate Control, Building Material, and Others), Structure (Building Based Vertical Farms and Container Based Vertical Farms) and Growth Mechanism (Hydroponics, Aeroponics, and Aquaponics): Global Opportunity Analysis and Industry Forecast, 2019 -2026

Industry: Agriculture | Report ID: FAMI-00388 | Published on: Oct, 2020 | View: 575 | Share:         

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*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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The global vertical farming market size was valued at $2.23 billion in 2018, and is projected to reach $12.77 billion by 2026, growing at a CAGR of 24.6% from 2019 to 2026. Vertical farming is a non-traditional method to grow crops, which enables ease of harvesting, no effect of climate, high yield, minimal usage of pesticides, less area requirement, and less water consumption. For instance, one hectare of vertical farming is equivalent to nine hectares of traditional outdoor farming and saves nearly 200 tons of water on a daily basis.

Aeroponics, a growth mechanism of vertical farming uses mist, mixed with vital nutrients, water, and oxygen, and directs it to the open roots of the plants for their growth. This growth mechanism is a closed-loop system that uses approximately 95% less water than field farming. This technique does not use pesticides in addition to zero harmful waste production in the environment. The controlled environment of aeroponics has the capability to produce approximately 70% more yield as compared to traditional agriculture.

The demand for vertical farming is expected to increase rapidly during the forecast period, owing to various factors such as rise in popularity of organic food, optimum use of vertical space and balanced energy utilization, ease of crop monitoring and harvesting, and decrease in arable land. However, high initial investments and involvement of nascent technology hamper the market growth. Nonetheless, rise in urban population and surge in adoption of technology driven agriculture are expected to provide lucrative growth opportunities to the vertical farming market players. 

The global vertical farming market is segmented based on component, growth mechanism, and region. The structure segment is bifurcated into building-based structure and container-based structure. Based on component, the market is categorized into irrigation component, lighting, sensor, climate control, building material, and others. The building material segment is bifurcated into glass greenhouse and plastic greenhouse. Based on growth mechanism, the market is categorized into hydroponics, aeroponics, and aquaponics. On the basis of region, it is analyzed across North America (U.S., Mexico, and Canada), Europe (UK, Germany, France, Netherlands, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, Singapore, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA).

 The key players operating in the market include 4D Bios Inc., Aerofarms, Agrilution, AMHYDRO (American Hydroponics), Everlight Electronics Co., Ltd, Hort Americas, Illumitex Inc., Koninklijke Philips N.V., Urban Crop Solutions, and Sky Greens.

KEY MARKET SEGMENTS

BY STRUCTURE

•    Building-based Vertical Farms
•    Container-based Vertical Farms

BY COMPONENT

•    Irrigation Component 
•    Lighting 
•    Sensor 
•    Climate Control
•    Building Material 
o    Glass Greenhouse
o    Plastic Greenhouse
•    Others

BY GROWTH MECHANISM

•    Hydroponics
•    Aeroponics
•    Aquaponics

BY REGION

•    North America
o    U.S.
o    Mexico
o    Canada
•    Europe
o    UK
o    Germany
o    France 
o    Netherlands
o    Rest of Europe
•    Asia-Pacific
o    China 
o    India
o    Japan 
o    Australia
o    Singapore
o    Rest of Asia-Pacific
•    LAMEA
o    Brazil
o    Saudi Arabia
o    South Africa
o    Rest of LAMEA

KEY PLAYERS

•    4D Bios Inc.
•    Aerofarms
•    Agrilution
•    AMHYDRO (American Hydroponics)
•    Everlight Electronics Co., Ltd.
•    Hort Americas
•    Illumitex Inc.
•    Koninklijke Philips N.V.
•    Urban Crop Solutions
•    Sky Greens
 

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Chapter 1: Introduction

1.1. Report Description
1.2. Key Benefits For Stakeholders
1.3. Key Market Segments
1.4. Research Methodology

1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools And Models

Chapter 2: Executive Summary

2.1. Cxo Perspective

Chapter 3: Market Overview

3.1. Market Definition And Scope
3.2. Key Findings

3.2.1. Top Impacting Factors
3.2.2. Top Investment Pockets

3.3. Porter’S Five Forces Analysis
3.4. Market Dynamics

3.4.1. Drivers

3.4.1.1. Optimum Use of Vertical Space And Balanced Energy Utilization
3.4.1.2. Ease of Crop Monitoring And Harvesting
3.4.1.3. Increase In Popularity of Organic Foods
3.4.1.4. Limited Arable Land For Traditional Agriculture

3.4.2. Restraints

3.4.2.1. High Initial Investments
3.4.2.2. Developmental Phase of Technologies Used

3.4.3. Opportunity

3.4.3.1. Increase In Urban Population

Chapter 4: Vertical Farming Market, By Structure

4.1. Overview
4.2. Building-Based Vertical Farms

4.2.1. Key Market Trends, Growth Factors, And Opportunities
4.2.2. Market Size And Forecast, By Region
4.2.3. Market Analysis, By Country

4.3. Shipping-Container-Based Vertical Farms

4.3.1. Key Market Trends, Growth Factors, And Opportunities
4.3.2. Market Size And Forecast, By Region
4.3.3. Market Analysis, By Country

Chapter 5: Vertical Farming Market, By Growth Mechnism

5.1. Overview
5.2. Hydroponics

5.2.1. Key Market Trends, Growth Factors, And Opportunities
5.2.2. Market Size And Forecast, By Region
5.2.3. Market Analysis, By Country

5.3. Aeroponics

5.3.1. Key Market Trends, Growth Factors, And Opportunities
5.3.2. Market Size And Forecast, By Region
5.3.3. Market Analysis, By Country

5.4. Aquaponics

5.4.1. Key Market Trends, Growth Factors, And Opportunities
5.4.2. Market Size And Forecast, By Region
5.4.3. Market Analysis, By Country

Chapter 6: Vertical Farming Market, By Component

6.1. Overview
6.2. Irrigation Components

6.2.1. Key Market Trends, Growth Factors, And Opportunities
6.2.2. Market Size And Forecast, By Region
6.2.3. Market Analysis, By Country

6.3. Lighting

6.3.1. Key Market Trends, Growth Factors, And Opportunities
6.3.2. Market Size And Forecast, By Region
6.3.3. Market Analysis, By Country

6.4. Sensor

6.4.1. Key Market Trends, Growth Factors, And Opportunities
6.4.2. Market Size And Forecast, By Region
6.4.3. Market Analysis, By Country

6.5. Climate Control

6.5.1. Key Market Trends, Growth Factors, And Opportunities
6.5.2. Market Size And Forecast, By Region
6.5.3. Market Analysis, By Country

6.6. Building Materials

6.6.1. Key Market Trends, Growth Factors, And Opportunities
6.6.2. Market Size And Forecast, By Region

6.6.2.1. Glass Greenhouse
6.6.2.2. Plastic Greenhouse

6.6.3. Market Analysis, By Country

6.7. Others

6.7.1. Key Market Trends, Growth Factors, And Opportunities
6.7.2. Market Size And Forecast, By Region
6.7.3. Market Analysis, By Country

Chapter 7: Vertical Farming Market, By Region

7.1. Overview
7.2. North America

7.2.1. Key Market Trends, Growth Factors, And Opportunities
7.2.2. Market Size And Forecast, By Structure
7.2.3. Market Size And Forecast, By Growth Mechanism
7.2.4. Market Size And Forecast, By Component
7.2.5. Market Analysis, By Country

7.2.5.1. U.S.

7.2.5.1.1. Market Size And Forecast, By Type
7.2.5.1.2. Market Size And Forecast, By Growth Mechanism
7.2.5.1.3. Market Size And Forecast, By Component

7.2.5.2. Canada

7.2.5.2.1. Market Size And Forecast, By Type
7.2.5.2.2. Market Size And Forecast, By Growth Mechanism
7.2.5.2.3. Market Size And Forecast, By Component

7.2.5.3. Mexico

7.2.5.3.1. Market Size And Forecast, By Type
7.2.5.3.2. Market Size And Forecast, By Growth Mechanism
7.2.5.3.3. Market Size And Forecast, By Component

7.3. Europe

7.3.1. Key Market Trends, Growth Factors, And Opportunities
7.3.2. Market Size And Forecast, By Structure
7.3.3. Market Size And Forecast, By Growth Mechanism
7.3.4. Market Size And Forecast, By Component
7.3.5. Market Analysis, By Country

7.3.5.1. Uk

7.3.5.1.1. Market Size And Forecast, By Type
7.3.5.1.2. Market Size And Forecast, By Growth Mechanism
7.3.5.1.3. Market Size And Forecast, By Component

7.3.5.2. Germany

7.3.5.2.1. Market Size And Forecast, By Type
7.3.5.2.2. Market Size And Forecast, By Growth Mechanism
7.3.5.2.3. Market Size And Forecast, By Component

7.3.5.3. France

7.3.5.3.1. Market Size And Forecast, By Type
7.3.5.3.2. Market Size And Forecast, By Growth Mechanism
7.3.5.3.3. Market Size And Forecast, By Component

7.3.5.4. Netherlands

7.3.5.4.1. Market Size And Forecast, By Type
7.3.5.4.2. Market Size And Forecast, By Growth Mechanism
7.3.5.4.3. Market Size And Forecast, By Component

7.3.5.5. Rest of Europe

7.3.5.5.1. Market Size And Forecast, By Type
7.3.5.5.2. Market Size And Forecast, By Growth Mechanism
7.3.5.5.3. Market Size And Forecast, By Component

7.4. Asia-Pacific

7.4.1. Key Market Trends, Growth Factors, And Opportunities
7.4.2. Market Size And Forecast, By Structure
7.4.3. Market Size And Forecast, By Growth Mechanism
7.4.4. Market Size And Forecast, By Component
7.4.5. Market Analysis, By Country

7.4.5.1. China

7.4.5.1.1. Market Size And Forecast, By Type
7.4.5.1.2. Market Size And Forecast, By Growth Mechanism
7.4.5.1.3. Market Size And Forecast, By Component

7.4.5.2. India

7.4.5.2.1. Market Size And Forecast, By Type
7.4.5.2.2. Market Size And Forecast, By Growth Mechanism
7.4.5.2.3. Market Size And Forecast, By Component

7.4.5.3. Japan

7.4.5.3.1. Market Size And Forecast, By Type
7.4.5.3.2. Market Size And Forecast, By Growth Mechanism
7.4.5.3.3. Market Size And Forecast, By Component

7.4.5.4. Australia

7.4.5.4.1. Market Size And Forecast, By Type
7.4.5.4.2. Market Size And Forecast, By Growth Mechanism
7.4.5.4.3. Market Size And Forecast, By Component

7.4.5.5. Singapore

7.4.5.5.1. Market Size And Forecast, By Type
7.4.5.5.2. Market Size And Forecast, By Growth Mechanism
7.4.5.5.3. Market Size And Forecast, By Component

7.4.5.6. Rest of Asia-Pacific

7.4.5.6.1. Market Size And Forecast, By Type
7.4.5.6.2. Market Size And Forecast, By Growth Mechanism
7.4.5.6.3. Market Size And Forecast, By Component

7.5. Lamea

7.5.1. Key Market Trends, Growth Factors, And Opportunities
7.5.2. Market Size And Forecast, By Structure
7.5.3. Market Size And Forecast, By Growth Mechanism
7.5.4. Market Size And Forecast, By Component
7.5.5. Market Analysis, By Country

7.5.5.1. Brazil

7.5.5.1.1. Market Size And Forecast, By Type
7.5.5.1.2. Market Size And Forecast, By Growth Mechanism
7.5.5.1.3. Market Size And Forecast, By Component

7.5.5.2. Saudi Arabia

7.5.5.2.1. Market Size And Forecast, By Type
7.5.5.2.2. Market Size And Forecast, By Growth Mechanism
7.5.5.2.3. Market Size And Forecast, By Component

7.5.5.3. South Africa

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