Global Vertical Farming Market to be Dominated by Container Based Vertical Farming through 2028
Rising demand for healthy and safe food is
expected to drive Global Vertical Farming market in the forecast period
2024-2028.
According to TechSci Research
report, “Vertical Farming Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028,” the global vertical
farming market is anticipated to grow at an impressive rate in the forecast
period, 2024-2028. A significant factor fueling the
growth of the vertical farming market is decreasing arable land and rising water
crisis. The use of vertical farming is expected to expand in the next years due
to increasing demand for healthy and safe food with demand
for out-of-season food which will further fuel the expansion of component
segments and result in the growth of Global Vertical Farming market. In October 2021 Kalera
SA, a vertical farming startup with a technological focus located in Norway
purchased &ever GmbH for USD 147.67 million. Over the anticipated timeframe,
increased customer preferences for organic and specialty products, as well as
rising demand for genetically modified seeds, will all contribute to the growth
of global vertical farming market.
Furthermore, the market will
develop as a result of abandoning conventional agriculture methods and
incorporating robotics and artificial intelligence.
However, the high
cost of initial investment can slow down market growth. Also, the complexity
of horticulture lighting can further slowdown market growth.
Browse over XX market
data Figures spread through XX Pages and an in-depth TOC on the "Global Vertical Farming Market”
Global Vertical
Farming Market is segmented based on structure, growing mechanism, crop type,
component, application, region and competitive landscape.
Based on structure,
the market is categorized into building-based, and container-based. Container-based
is expected to hold the largest market share in the forecast period, 2024-2028.
Container-based farming is easy to transport and does not require much area of
land because the whole process of crop production is carried out in a container.
Based on the
growing mechanism, the market is fragmented into hydroponics, aeroponics, and aquaponics.
Hydroponics is expected to hold the largest market share in the forecast
period, 2024-2028. Hydroponics has a low implementation cost and ease of
operation. Plants commonly grown hydroponically produce greater yields as
compared to soil-growing plants.
Based on crop type, the
market is segmented into leafy green, pollinated plants, and nutraceutical plant. Pollinated Plants
segment will experience the highest market share during the forecast period,
2024-2028. This can be attributed due to the increasing demand for organic food
and the easy availability of these type plants.
Based on component, the
market is fabricated into lighting, hydroponic component, climate control, sensors,
and others. The lighting segment will experience the highest market share
during the forecast period, 2024-2028. This can be attributed to the increasing
demand for the LED lighting system to reduce operational costs and minimize
power consumption.
Based on application, the
market is divided into indoor, and outdoor. Indoor segment will experience the
highest market share during the forecast period, 2024-2028. This can be attributed
due to higher yield of vertical farming due to the cultivation taking place in controlled
indoor environment.
Major companies operating
in the Global Vertical Farming Market are:
- AeroFarms
LLC
- AmHydro
- Urban
Crop Solutions
- Bowery
Farming Inc.
- Freight
Farms, Inc.
- Crop
One Holdings, Inc.
- Altius
Farms, Inc.
- Plenty
Unlimited Inc.
- Upward
Enterprises Inc.
- Intelligent
Growth Solutions Limited
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“North
America region is expected to grow at the highest rate in the global vertical
farming market during the forecast period. This
is because of the presence of major industry players, expansion of organic
product demand , increasing adoption of federal agricultural regulations and
increased food consumption and the use
of automation technology in agriculture.. Moreover, in Asia Pacific due to a lack of agricultural land
that is fertile, vertical farming is becoming more popular, which creates the potential
for urban farming,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Vertical Farming Market-
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Structure (Building Based,
Container-Based), By Growing Mechanism (Hydroponics, Aeroponics, Aquaponics), By
Crop Type (Leafy Green, Pollinated Plants, Nutraceutical Plants), By Component
(Lighting, Hydroponic Component, Climate Control, Sensors, Others), By
Application (Indoor, Outdoor), By Region,”, has evaluated the future
growth potential of global vertical farming market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global vertical farming market.”
Contact
Mr. Ken Mathews
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