Agriculture & Forestry Industry Market News

22% CAGR expected to witness for Europe vertical farming market during 2016 to 2021 according to new research report

Agriculture Market Research

Regional and country-level analysis and forecasts of the Europe Vertical Farming Market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions those are still untapped

According to the report “Europe Vertical Farming Market By Growth Mechanism (Hydroponics, Aeroponics And Aquaponics), By Structure (Building Based And Shipping Container), By Offering (Hardware, Software, And Service), By Crop Type And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)” published by Market Data Forecast, the Europe Vertical Farming Market was worth USD 0.55 billion in 2016 and is expected to be growing at a CAGR of 22%, to touch USD 1.49 billion by 2021.

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Vertical Farming is the latest development in farming, wherein control is exercised over the environmental influences which effect plants or crops. In the Vertical Farming process, foods and medicines are produced in vertical stacked layers, inclined surfaces and/or in structures like warehouses, shipping containers, skyscrapers,.

With the introduction of Controlled-Environment-Agriculture(CEA) and indoor farming techniques, Vertical Farming techniques control factors like the amount of light, environmental factors like temperature, humidity, gases,., and fertigation factors which include application of fertilizers and other soil products.

In some Vertical Farms, natural light is used in conjunction with artificial lighting and metal reflectors, similar to greenhouses.

The major driving force of the Europe market is the increasing consumer demand for organic foods, foods free from pesticides and genetically modified organisms (GMOs) is the major driving force of the market. The utility of artificial lighting to enhance the yield, health and growth rate of plants coupled with lower dependency on weather for production is driving the market from the producer side.

The above factors accompanied by the growth in use of technology such as Internet of Things  in Vertical Farming, and increase in the annual production of crops are predicted to exponentially boost market growth. High costs of lighting equipment and continuous maintenance requirement are the constraints faced by the Vertical Farming market.

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The Europe Vertical Farming market is segmented by Growth Mechanism, Structure, Offering, Crop Type, and Geography. By the Growth Mechanism Type, the market is classified into Hydroponics, Aeroponics, and Aquaponics.

By the Structure used, the market is separated into Buildings and Shipping Containers. By the type of Offering, the market is classified into Hardware, Software, and Service.

The Vertical Farming market is further segmented on the basis of Crop Type and Geography.

The Europe market has been geographically segmented into Germany, U.K, France, Spain, and Italy. In 2016 Europe had the second highest share of the global Vertical Farming market share due to consumer demand and technological advances & availability in the Vertical Farming market in Europe.

Further, France is in the lead, followed by Germany, Spain, Italy and the United Kingdom. Currently, in Europe, land farmers are moving from providing land based to Vertical Farming methods because of the benefits they offer.

This is being majorly promoted by the increasing technological feasibility of vertical farming methods.

The Key players involved in the growth of the Europe vertical farming market are Illumitex Inc. (U.S.), Aerofarms (U.S.), Koninklijke Philips N.V.

(The Netherlands), and Sky Greens (Singapore) among others.

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