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
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SE_172288
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Pages: 234
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Aug
2019 |
18785 Views
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Author(s) :
Asavari Patil
, Supradip Baul
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Tables: 112
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Charts: 63
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Formats*:
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Vertical Farming Market Outlook - 2026
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 revolutionary approach used to produce food and medicinal plants in vertically stacked layers such as in a skyscraper, used warehouse, or shipping container. It facilitates huge quantity of nutritious and quality fresh food without relying on favorable weather, high water usage, skilled labor, and high soil fertility. Moreover, it ensures reliable yield and consistency in crop production round the year along with climate control, and no effects of external environment factors such as diseases, pests, or predator attacks.
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The demand for vertical farming industry is expected to increase rapidly during the forecast period, owing to rise in popularity of organic food. Furthermore, the vertically stacked structure of these farms reduces the demand for additional construction activity and land. Moreover, it reduces the intervention of machines required during conventional farming. Thus, optimum use of vertical space and balanced energy utilization contribute toward the vertical farming market growth. In addition, these facilities involve multiple technologies for growth of plants artificially. The technologies used in this farming enables to keep track of plants growth and harvesting, which further drives the market growth. However, high initial investment is required for setting the indoor vertical structure and setting up the lighting and irrigation systems. Also, the technologies involved in vertical farming are nascent, which is expected to have negative impact on 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.
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Segment Overview
The global vertical farming market trends are analyzed across various segments including farm structure, component, growth mechanism, and region. On the basis of component, the market is categorized into irrigation component, lighting, sensor, climate control, building material, and others, among which the building materials segment is further categorized into glass greenhouse and plastic greenhouse. Depending on growth mechanism, the market is sub-segmented into hydroponics, aeroponics, and aquaponics. The structure segment is bifurcated into building-based structure and container-based structure. The building-based structure is expected to dominate the global vertical farming market during forecast period.
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The regional segmentation of the market includes North America, Europe, Asia-Pacific, and LAMEA. The European vertical farming market is expected to grow at the highest CAGR during the forecast period, owing to growth in concern over availability of water in certain parts, majorly in central and southern regions, rise in demand of organic food, and requirement of ensuring urban food security.
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Top Impacting Factors
The significant impacting factors in the vertical farming market include increase in optimum use of vertical space and balanced energy utilization, ease of crop monitoring and harvesting, limited arable land for traditional agriculture, and increase in popularity of organic foods. However, high initial investments and developmental phase of technologies used in vertical farming pose a major threat, thus hampering the market growth globally. Conversely, surge in adoption of technology driven agriculture and growth in urban population are projected to offer remunerative opportunities to the market. Each of these factors is anticipated to have a definite impact on the vertical farming market during the forecast period.
Some major factors impacting the market growth are given below:
Increase in popularity of organic foods
Organic food refers to the products obtained through farming system that does not use synthetic fertilizers, pesticides, and growth regulators. Presently, people across the globe have become increasingly aware about the source of food that they consume on a daily basis, and have switched from the food grown with the use of chemicals and pesticides to organic food. In North America, the sales of organic food witnessed significant growth over the past few years.
The organic food market in America witnessed growth from 2006 to 2015. In 2016, the organic food market contributed nearly 5% share of overall food sales in America. The demand for organic food surpasses supply every year; thus, vertical farming is poised to be rapidly adopted.
Optimum use of vertical space and balanced energy utilization
Vertical farming is paradigm shift in the conventional agriculture. Many uninhibited properties, mines, and buildings can be rehabilitated into food production facilities thereby reducing construction cost required in agriculture center. Further, the vertically stacked structure of these farms eliminates the extensive spending on purchase of land. However, the optimum use of vertical space increases the productivity. For instance, 1-acre indoor vertical space is equivalent to 4-6 acres of outdoor space.
Ease of crop monitoring and harvesting
The technologies evolved in vertical farming are used in remote research stations, and refugee camp in flooded or earthquake affected areas. In such cases, various growth mechanisms used in vertical farming helps for artificial growth of crop in controlled environment. Moreover, the use of Internet of Things in components used in VF reduces the human intervention and tracks the growth of the crop. This in turn, reduces the labor cost and material wastage.
Competitive Analysis
The key players profiled in the report 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. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their position in vertical farming market.
Key Benefits for Vertical Farming Market:
- This study comprises analytical depiction of the global vertical farming market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall vertical farming market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current vertical farming market forecast is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the vertical farming industry.
- The report includes the vertical farming market share of key vendors and market trends.
Vertical Farming Market Segments:
By Structure
- Building-based Vertical Farms
- Container-based Vertical Farms
By Component
- Irrigation Component
- Lighting
- Sensor
- Climate Control
- Building Material
- Glass Greenhouse
- Plastic Greenhouse
- Others
By Growth Mechanism
- Hydroponics
- Aeroponics
- Aquaponics
By Region
- North America
- U.S.
- Mexico
- Canada
- Europe
- UK
- Germany
- France
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Singapore
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- 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
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
7.5.5.3.1. Market size and forecast, by type
7.5.5.3.2. Market size and forecast, by growth mechanism
7.5.5.3.3. Market size and forecast, by component
7.5.5.4. REST OF LAMEA
7.5.5.4.1. Market size and forecast, by type
7.5.5.4.2. Market size and forecast, by growth mechanism
7.5.5.4.3. Market size and forecast, by component
Chapter 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top Winning Strategies
8.3. Product mapping of top 10 player
8.4. Competitive dashboard
8.5. Competitive heatmap
Chapter 9: Company Profile
9.1. 4D BIOS INC.
9.1.1. Company overview
9.1.2. Company snapshot
9.1.3. Product portfolio
9.2. AEROFARMS
9.2.1. Company overview
9.2.2. Company snapshot
9.2.3. Product portfolio
9.2.4. Farms
9.2.5. Key strategic moves and developments
9.3. AGRILUTION
9.3.1. Company overview
9.3.2. Company snapshot
9.3.3. Product portfolio
9.4. AMHYDRO (AMERICAN HYDROPONICS)
9.4.1. Company overview
9.4.2. Company snapshot
9.4.3. Product portfolio
9.4.4. Key strategic moves and developments
9.5. EVERLIGHT ELECTRONICS CO., LTD.
9.5.1. Company overview
9.5.2. Company snapshot
9.5.3. Product portfolio
9.5.4. R&D Expenditure
9.5.5. Business performance
9.6. HORT AMERICAS
9.6.1. Company overview
9.6.2. Company snapshot
9.6.3. Product portfolio
9.6.4. Key strategic moves and developments
9.7. ILLUMITEX INC.
9.7.1. Company overview
9.7.2. Company snapshot
9.7.3. Product portfolio
9.7.4. Key strategic moves and developments
9.8. KONINKLIJKE PHILIPS N.V.
9.8.1. Company overview
9.8.2. Company snapshot
9.8.3. Operating business segments
9.8.4. Product portfolio
9.8.5. R&D Expenditure
9.8.6. Business performance
9.8.7. Key strategic moves and developments
9.9. URBAN CROP SOLUTIONS
9.9.1. Company overview
9.9.2. Company snapshot
9.9.3. Product portfolio
9.9.4. Key strategic moves and developments
9.10. SKY GREENS
9.10.1. Company overview
9.10.2. Company snapshot
9.10.3. Product portfolio
LIST OF TABLES
TABLE 01. GLOBAL VERTICAL FARMING MARKET, BY STRUCTURE, 2018-2026 ($MILLION)
TABLE 02. UILDING-BASED VERTICAL FARMING MARKET, BY REGION 2018-2026 ($MILLION)
TABLE 03. SHIPPING CONTAINER-BASED VERTICAL FARMING MARKET , BY REGION 2018-2026 ($MILLION)
TABLE 04. GLOBAL VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018-2026($MILLION)
TABLE 05. HYDROPONICS VERTICAL FARMING MARKET, BY REGION 2018-2026 ($MILLION)
TABLE 06. AEROPONICS VERTICAL FARMING MARKET, BY REGION 2018-2026 ($MILLION)
TABLE 07. AQUAPONICS VERTICAL FARMING MARKET, BY REGION 2018–2026 ($MILLION)
TABLE 08. GLOBAL VERTICAL FARMING MARKET, BY COMPONENT, 2018-2026($MILLION)
TABLE 09. VERTICAL FARMING MARKET REVENUE FOR IRRIGATION COMPONENTS, BY REGION 2018-2026 ($MILLION)
TABLE 10. VERTICAL FARMING MARKET REVENUE FOR LIGHTING, BY REGION 2018-2026 ($MILLION)
TABLE 11. VERTICAL FARMING MARKET REVENUE FOR SENSOR, BY REGION 2018–2026 ($MILLION)
TABLE 12. VERTICAL FARMING MARKET REVENUE FOR CLIMATE CONTROL, BY REGION 2018–2026 ($MILLION)
TABLE 13. VERTICAL FARMING MARKET REVENUE FOR BUILDING MATERIALS, BY REGION 2018–2026 ($MILLION)
TABLE 14. VARIOUS GLASSES AND THEIR SPECIFICATIONS
TABLE 15. VERTICAL FARMING MARKET FOR GLASS GREENHOUSE, BY REGION, 2018–2026 ($MILLION)
TABLE 16. VERTICAL FARMING MARKET FOR PLASTIC GREENHOUSE, BY REGION, 2018–2026 ($MILLION)
TABLE 17. VERTICAL FARMING MARKET REVENUE FOR OTHERS, BY REGION 2018–2026 ($MILLION)
TABLE 18. VERTICAL FARMING MARKET REVENUE, BY REGION 2018–2026 ($MILLION)
TABLE 19. NORTH AMERICA VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 20. NORTH AMERICA VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 21. NORTH AMERICA VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 22. U.S. VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 23. U.S. VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 24. U.S. VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 25. CANADA VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 26. CANADA VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 27. CANADA VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 28. MEXICO VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 29. MEXICO VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 30. MEXICO VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 31. EUROPE VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 32. EUROPE VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 33. EUROPE VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 34. UK VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 35. UK VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 36. UK VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 37. GERMANY VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 38. GERMANY VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 39. GERMANY VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 40. FRANCE VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 41. FRANCE VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 42. FRANCE VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 43. NETHERLANDS VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 44. NETHERLANDS VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 45. NETHERLANDS VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 46. REST OF EUROPE VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 47. REST OF EUROPE VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 48. REST OF EUROPE VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 49. ASIA-PACIFIC VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 50. ASIA-PACIFIC VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 51. ASIA-PACIFIC VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 52. CHINA VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 53. CHINA VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 54. CHINA VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 55. INDIA VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 56. INDIA VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 57. INDIA VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 58. JAPAN VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 59. JAPAN VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 60. JAPAN VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 61. AUSTRALIA VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 62. AUSTRALIA VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 63. AUSTRALIA VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 64. SINGAPORE VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 65. SINGAPORE VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 66. SINGAPORE VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 67. REST OF ASIA-PACIFIC VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 68. REST OF ASIA-PACIFIC VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 69. REST OF ASIA-PACIFIC VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 70. LAMEA VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 71. LAMEA VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 72. LAMEA VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 73. BRAZIL VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 74. BRAZIL VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 75. BRAZIL VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 76. SAUDI ARABIA VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 77. SAUDI ARABIA VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 78. SAUDI ARABIA VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 79. SOUTH AFRICA VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 80. SOUTH AFRICA VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 81. SOUTH AFRICA VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 82. REST OF LAMEA VERTICAL FARMING MARKET, BY STRUCTURE, 2018–2026 ($MILLION)
TABLE 83. REST OF LAMEA VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2018–2026 ($MILLION)
TABLE 84. REST OF LAMEA VERTICAL FARMING MARKET, BY COMPONENT, 2018–2026 ($MILLION)
TABLE 85. 4D BIOS INC.: COMPANY SNAPSHOT
TABLE 86. 4D BIOS INC.: PRODUCT PORTFOLIO
TABLE 87. AEROFARMS: COMPANY SNAPSHOT
TABLE 88. AEROFARMS: PRODUCT PORTFOLIO
TABLE 89. AEROFARMS: FARMS
TABLE 90. AEROFARMS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 91. AGRILUTION: COMPANY SNAPSHOT
TABLE 92. AGRILUTION: PRODUCT PORTFOLIO
TABLE 93. AMHYDRO: COMPANY SNAPSHOT
TABLE 94. AMHYDRO: PRODUCT PORTFOLIO
TABLE 95. AMHYDRO: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 96. EVERLIGHT ELECTRONICS CO., LTD.: COMPANY SNAPSHOT
TABLE 97. EVERLIGHT ELECTRONICS CO., LTD.: PRODUCT PORTFOLIO
TABLE 98. HORT AMERICAS: COMPANY SNAPSHOT
TABLE 99. HORT AMERICAS: PRODUCT PORTFOLIO
TABLE 100. HORT AMERICAS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 101. ILLUMITEX INC.: COMPANY SNAPSHOT
TABLE 102. ILLUMITEX INC.: PRODUCT PORTFOLIO
TABLE 103. ILLUMITEX INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 104. KONINKLIJKE PHILIPS N.V.: COMPANY SNAPSHOT
TABLE 105. KONINKLIJKE PHILIPS N.V.: OPERATING SEGMENTS
TABLE 106. KONINKLIJKE PHILIPS N.V., PRODUCT PORTFOLIO
TABLE 107. KONINKLIJKE PHILIPS N.V.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 108. URBAN CROP SOLUTIONS: COMPANY SNAPSHOT
TABLE 109. URBAN CROP SOLUTIONS: PRODUCT PORTFOLIO
TABLE 110. URBAN CROP SOLUTIONS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 111. SKY GREENS: COMPANY SNAPSHOT
TABLE 112. SKY GREENS: PRODUCT PORTFOLIO
LIST OF FIGURES
FIGURE 01. KEY MARKET SEGMENTS
FIGURE 02. EXECUTIVE SUMMARY, BY SEGMENTATION
FIGURE 03. EXECUTIVE SUMMARY, BY GEOGRAPHY
FIGURE 04. TOP IMPACTING FACTORS
FIGURE 05. TOP INVESTMENT POCKETS
FIGURE 06. HIGH BARGAINING POWER OF SUPPLIERS
FIGURE 07. MODERATE-TO-HIGH THREAT OF NEW ENTRANTS
FIGURE 08. MODERATE THREAT OF SUBSTITUTES
FIGURE 09. LOW-TO-MODERATE INTENSITY OF RIVALRY
FIGURE 10. MODERATE BARGAINING POWER OF BUYERS
FIGURE 11. GLOBAL VERTICAL FARMING MARKET SHARE, BY STRUCTURE, 2018–2026 (%)
FIGURE 12. COMPARATIVE SHARE ANALYSIS BUILDING-BASED VERTICAL FARMING MARKET, BY COUNTRY, 2018 & 2026 (%)
FIGURE 13. COMPARATIVE SHARE ANALYSIS SHIPPING CONTAINER-BASED VERTICAL FARMING MARKET, BY COUNTRY, 2018 & 2026 (%)
FIGURE 14. GLOBAL VERTICAL FARMING MARKET SHARE, BY GROWTH MECHANISM, 2018–2026 (%)
FIGURE 15. COMPARATIVE SHARE ANALYSIS OF HYDROPONICS VERTICAL FARMING MARKET, BY COUNTRY, 2018 & 2026 (%)
FIGURE 16. COMPARATIVE SHARE ANALYSIS OF AEROPONICS VERTICAL FARMING MARKET, BY COUNTRY, 2018 & 2026 (%)
FIGURE 17. COMPARATIVE SHARE ANALYSIS OF AQUAPONICS VERTICAL FARMING MARKET, BY COUNTRY, 2018 & 2026 (%)
FIGURE 18. GLOBAL VERTICAL FARMING MARKET SHARE, BY COMPONENT, 2018–2026 (%)
FIGURE 19. COMPARATIVE SHARE ANALYSIS OF VERTICAL FARMING MARKET FOR IRRIGATION COMPONENTS, BY COUNTRY, 2018 & 2026 (%)
FIGURE 20. COMPARATIVE SHARE ANALYSIS OF VERTICAL FARMING MARKET FOR LIGHTING, BY COUNTRY, 2018 & 2026 (%)
FIGURE 21. COMPARATIVE SHARE ANALYSIS OF VERTICAL FARMING MARKET FOR SENSOR, BY COUNTRY, 2018 & 2026 (%)
FIGURE 22. COMPARATIVE SHARE ANALYSIS OF VERTICAL FARMING MARKET FOR CLIMATE CONTROL, BY COUNTRY, 2018 & 2026 (%)
FIGURE 23. COMPARATIVE SHARE ANALYSIS OF VERTICAL FARMING MARKET FOR BUILDING MATERIALS, BY COUNTRY, 2018 & 2026 (%)
FIGURE 24. COMPARATIVE SHARE ANALYSIS OF VERTICAL FARMING MARKET FOR OTHERS, BY COUNTRY, 2018 & 2026 (%)
FIGURE 25. VERTICAL FARMING MARKET, BY REGION, 2018-2026 (%)
FIGURE 26. COMPARATIVE SHARE ANALYSIS OF NORTH MAERICA VERTICAL FARMING MARKET, BY COUNTRY, 2018–2026 (%)
FIGURE 27. U.S. VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 28. CANADA VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 29. MEXICO VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 30. COMPARATIVE SHARE ANALYSIS OF NORTH MAERICA VERTICAL FARMING MARKET, BY COUNTRY, 2018–2026 (%)
FIGURE 31. UK VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 32. GERMANY VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 33. FRANCE VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 34. NETHERLANDS VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 35. REST OF EUROPE VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 36. COMPARATIVE SHARE ANALYSIS OF NORTH MAERICA VERTICAL FARMING MARKET, BY COUNTRY, 2018–2026 (%)
FIGURE 37. CHINA VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 38. INDIA VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 39. JAPAN VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 40. AUSTRALIA VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 41. SINGAPORE VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 42. REST OF ASIA-PACIFIC VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 43. COMPARATIVE SHARE ANALYSIS OF NORTH MAERICA VERTICAL FARMING MARKET, BY COUNTRY, 2018–2026 (%)
FIGURE 44. BRAZIL VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 45. SAUDI ARABIA VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 46. SOUTH AFRICA VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 47. REST OF LAMEA VERTICAL FARMING MARKET, 2018–2026 ($MILLION)
FIGURE 48. MARKET PLAYER POSITIONING (2018)
FIGURE 49. TOP WINNING STRATEGIES, BY YEAR, 2016-2019*
FIGURE 50. TOP WINNING STRATEGIES, BY DEVELOPMENT, 2016-2019*
FIGURE 51. TOP WINNING STRATEGIES, BY COMPANY, 2016-2019*
FIGURE 52. PRODUCT MAPPING OF TOP 10 PLAYERS: BY STRUCTURE TYPE
FIGURE 53. PRODUCT MAPPING OF TOP 10 PLAYERS: BY COMPONENT
FIGURE 54. COMPETITIVE DASHBOARD
FIGURE 55. COMPETITIVE HEATMAP OF KEY PLAYERS
FIGURE 56. R&D EXPENDITURE, 2016–2018 ($MILLION)
FIGURE 57. EVERLIGHT ELECTRONICS CO., LTD.: REVENUE, 2016–2018 ($MILLION)
FIGURE 58. EVERLIGHT ELECTRONICS CO., LTD.: REVENUE SHARE BY PRODUCT, 2018 (%)
FIGURE 59. EVERLIGHT ELECTRONICS CO., LTD.: REVENUE SHARE BY REGION, 2018 (%)
FIGURE 60. R&D EXPENDITURE, 2016–2018 ($MILLION)
FIGURE 61. KONINKLIJKE PHILIPS N.V.: REVENUE, 2016–2018 ($MILLION)
FIGURE 62. KONINKLIJKE PHILIPS N.V.: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 63. KONINKLIJKE PHILIPS N.V.: REVENUE SHARE BY REGION, 2018 (%)
Growth in population fuels the demand for both more food and more land to grow food; however, availability of arable land is limited and expensive. Vertical farming is an innovative way to grow crop in cities without the need of soil, with minimum water usage and almost no need of pesticides. Crops grown through vertical farming are organic, environmentally safe, and healthy to consume.
Presently, nearly 54% of the world’s population resides in urban areas, and is expected to reach 66% by 2050. The future cities are expected to produce their own food due to increase in global population and limited area of arable land. Vertical farming permits farmers to harvest fresh organic crops in ever-growing cities with additional advantages such as high yield, pesticides, and low water requirement. Presently, food supplies from traditional farming is used by the urban population. These farmers use pesticides to achieve higher yield and use preservatives to extend shelf life of foods. Rise in demand for fresh, home-grown organic food has fueled the growth of the vertical farming market.
According to United Nations Population Division (2009), the global population is expected to increase from about 6.9 billion in 2010 to 9.2 billion in 2050. Presently, the growth rate of global population is nearly 80 million per annum. This is a major concern, as habitable area of Earth is limited to nearly 13 billion hectares. In 2008, the total arable area in the world was near about 4.88 billion hectares. The growth of the vertical farming market is driven by food security, adverse effects of farming on the ecosystem & climate, fitness & nutrition, and others. Moreover, shift from traditional agricultural techniques to vertical farming to cater to the increase in demand–supply gap boosts the market growth.
Hydroponics accounts for the majority of market share in the growth mechanism segment, owing to its capability to produce more nutritious eatables in less space consumption. Moreover, this growth mechanism uses 10 times less water than conventional agriculture. Aeroponics is anticipated to grow with a fast-paced rate in the forthcoming years.
North America is the second highest revenue contributor to the global vertical farming market, after Asia-Pacific. The market growth is attributed to factors such as alarming rate of water level depletion, presence of drought-stricken states, and increase in environmental concerns.
Key players in the vertical farming market are AeroFarm, FarmedHere, Illumitex, Inc., Koninklijke Philips N.V., Sky Green, Everlight Electronics, Green Sense Farms, American Hydroponics, Hort Americas, Agrilution, and others.
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