The global Vertical Farming Market will be worth USD 11.71 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the growing demand for organic food products among consumers. Growing environmental concerns […]
The global Vertical Farming Market will be worth USD 11.71 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the growing demand for organic food products among consumers. Growing environmental concerns such as the depletion of soil quality and groundwater on applications of chemical-based solutions have increased the vertical farming system’s adoption. The reduction in the prices of the light-emitting diode (LED) and the technological advancement in the LEDs help in the growth of the vertical farming system.
The report is furnished with the impact of the current COVID-19 pandemic. The pandemic is rearranging every aspect of the market from the global economic scenario to product demands and supply chains. The report assesses the hardest-hit sectors of the industry to offer a better understanding of the changes in the Vertical Farming market. The report is updated with the initial and future assessment of the impact of the COVID-19 pandemic on the Global Vertical Farming Market.
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Key Highlights From The Report
- Shipping container-based vertical farms held the largest market share of 63.5% in 2019 due to the scarcity of the arable lands. Moreover, the ease of transportation and less requirement of land for the installation of the shipping container is expected to drive the growth of the segment.
- The hydroponics segment is forecasted to grow with the fastest CAGR of 20.2% over the forecast period due to the ease of operation and low installation cost.
- The lighting segment accounted for the largest market share of the vertical farming market in 2019 as the lighting devices help in the faster growth of the plant. The LED lighting technology is increasingly being used by the horticulture farmers due to the enhanced efficiency and long lifespan of the technologically advanced LEDs.
- The Asia Pacific region held the largest market share of the vertical farming market in 2019 due to the growing demand for food owing to the rising global population. The scarcity of arable lands in the densely populated countries is also a driving factor for the region’s growth.
- Key participants include Freight Farms, Signify, Osram, Aerofarms, BrightFarms, Everlight Electronics, HELIOSPECTRA AB, Illumitex, Inc., AGRICOOL, and SKY GREENS, among others.
Emergen Research has segmented the global Vertical Farming Market on the basis of Structure, Growth mechanisms, Offering, and region:
- Structure Outlook (Revenue, USD Billion; 2017-2027)
- Growth mechanisms Outlook (Revenue, USD Billion; 2017-2027)
- Offering Outlook (Revenue, USD Billion; 2017-2027)
- Climate Control
- Hydroponic Components
The most prominent geographical segments covered in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Full Coverage of the Report:
- The authors of this report have performed qualitative and quantitative assessments of the global Vertical Farming industry and further conducted market estimation for the forecast years of 2020-2027.
- The report assesses the global Vertical Farming market in detail, focusing on the technological advancements, various industry verticals, distribution channels, diverse product types, and the broad application outlook.
- A wide-ranging analysis of the global Vertical Farming market’s geographical scenario is an integral part of the report.
- In the conclusive section, the report discusses the company profiles of the key market players at length. This section takes a closer look at the financial positions, recent trends and developments, product offerings, and business expansion tactics of the market contenders.
Table Of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Vertical Farming Market Segmentation & Impact Analysis
4.1. Vertical Farming Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
18.104.22.168. Increased demand for organic products
22.214.171.124. Increasing disposable income
126.96.36.199. Growth of the global population
188.8.131.52. Increasing demand for high quality foods
4.2.3. Market restraints analysis
184.108.40.206. High initial investment
220.127.116.11. Lack of Skilled workforce
18.104.22.168. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Vertical Farming Market By Structure Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
5.1. Structure Dynamics & Market Share, 2019 & 2027
Chapter 6. Vertical Farming Market By Growth Mechanisms Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
6.1. Growth mechanisms Dynamics & Market Share, 2019 & 2027
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