Vertical Farming Market, By Component (Hardware, Software, Services) By Type (Hydroponics, Aeroponics, Aquaponics), By Crop Type (Lettuce, Peppers, Spinach) - Forecast to 2022
According to Market Research Future Analysis, Vertical Farming Market has been valued at USD 6 billion by 2022 growing with 26% of CAGR during forecast period 2016 to 2022.
Currently, traditional agriculture makes farming difficult because of profits and environmental conditions. Therefore, various new technologies have been adopted for farming such as vertical farming, sky farming and horizontal farming among others.
Vertical farming can be defined as production of crops through vertical stacked layers.
Factors such as less usage of fertilizers and pesticides, water conservation, less usage of energy and growing demand for food production are driving the growth of the vertical farming market. rising demand for high quality food, independent farming techniques and less impact of climatic conditions are expected to boost the market over the forecast period.
Whereas, high investments and limitations on the crop types are hampering the growth of the vertical farming market.
The various types of vertical farming are hydroponics, aeroponics and aquaponics. Hydroponics involves growing of crops in nutrient solutions which are free of soil, Aeroponics is a technique in which plants are grown in a mist environment without any soil.
Aquaponic is a combination of plants and fish in the same ecosystem. However, Hydroponic type accounted for the largest market share in the vertical farming market.
Geographically, North America accounted for the largest market share in the global vertical farming market, whereas Asia-Pacific is expected to grow at a fast pace over the forecast period, 2016-2022.
Major Key Players
- Agrilution (Germany),
- Aerofarms (U.S.),
- Indoor Harvest Corporation (U.S.),
- Koninklijke Philips N.V. (Netherlands),
- Everlight Electronics co.(Taiwan),
- Illumitex, Inc. (U.S.),
- Sky Greens (Singapore),
- Hort Americas (U.S.),
- Urban Crop Solutions (Belgium)
The global vertical farming market is expected to grow significantly over the forecast period, 2016-2022. Hydroponics of vertical farming market globally drives the market.
The market is expected to have higher growth rate as compared to the previous years.
North-American region accounted for the largest market share because of the technological advancements, urban growth, environment friendly, increase in demand for food and various grant programs in US. For instance, USDA Rural Energy for America Program (REAP) helps in energy efficiency in the rural areas and Illinois Department of Commerce gave grant for LED lights.
However, Asia-Pacific region is expected to grow over the forecast period, 2016-2022 especially in countries such as China and Japan. For instance, Toshiba converted its old factories for vertical plantation of crops such as lettuce and basil.
Browse Full Report Details at www.marketresearchfuture.com/repor…rming-market-2779
For the purpose of this study, Market Research Future has segmented the market of vertical farming into component, type, crop type and region.
Table of Content
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Network Solution
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
3 Market Dynamics
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
3.5 Market Restraints
4 Executive Summary
- Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.2 Supply Chain Analysis
6 Global Vertical Farming Market, By Segments
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