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Vertical Farming Market by Growth Mechanism, Structure, Offering, Crop Type, and Geography - Global Forecast to 2022

Vertical Farming Market: Global Forecast until 2022

  • January 2017
  • 175 pages
  • ID: 4655403
In this report:
SCATIL is a Hong Kong-based vertical farm, which uses Japanese hydroponics technology for producing vegetables, at a production capacity of ## kg per day.
The services segment of the vertical farming market is expected to record the highest CAGR of ##.##% from 2016 to 2022, due to the increasing adoption of robotics and automation services, which is expected to minimize high labor costs, boost food production efficiency, and reduce overhead costs associated with various operations in vertical farming.

Summary

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"Vertical farming market forecasted to grow at a CAGR (Compound annual growth rate) of 24.80 percent between 2016 and 2022"

According to the new market research report, the vertical farming market is anticipated to be valued at ~$5.8B by 2022, increasing at a compound annual growth rate (CAGR) of 24.80 percent between 2016 and 2022. The increase of the vertical farming market could be attributed to the increasing urbanization, increasing demand for high quality food with no use of pesticides and herbicides, and independent farming technique with low impact of climatic conditions. Nevertheless, the high initial investments, dearth of technical acumen, and limitations on the variety of crops grown are the restraints in the vertical farming market.

"Lighting devices and hydroponics components are anticipated to dominate the hardware segment of vertical farming market between 2016 and 2022"

The lighting devices and hydroponic components are anticipated to dominate the hardware segment of the vertical farming market. LED grow light and hydroponics increase mechanism controls the vertical farming market because LED lights have many benefits over the traditional lighting system and hydroponics increase mechanism is easy to implement and their result in terms of the rise of plant is quite good.

"Vertical farming market in APAC is intended to have the biggest share"

This market report contains regions including North America, Europe (EU), Asia-Pac, and Rest of the globe. The APAC is forecasted to have the most important share of the vertical farming market between 2016 and 2022. The high increase of vertical farming in the Asia-Pacific regions is because of developing countries such as China (CN), Japan (JP), and Singapore (SG). Japan (JP) is the top country as far as vertical farming is concerned. Japan (JP) has many plant factories equipped with artificial lights in the operational form. Toshiba, which is the biggest consumer electronics company converted their old factory into vertical facilities and is planning to grow vegetables including lettuces.

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, extensive primary audit sessions were managed with main people. Break-up of the profile of primary members taking part is presented below:

• By Company category: Tier 1 - 50.0 percent, Tier 2 - 33.0 percent, and Tier 3 - 17.0 percent

• By Description: C-suite - 39.0 percent, D-level - 31.0 percent, and Others - 30.0 percent

• By Area: North America (NA) - 21.0 percent, EU - 30.0 percent, Asia-Pac - 42.0 percent, RoW - 7.0 percent

The main players in this sector contain AeroFarms, FarmedHere, Koninklijke Philips (NYSE:PHG), Illumitex, and Sky Greens.

Segment Research

This business report includes the offering segment, which consists of hardware, software and services of the vertical farming market. In vertical farming distinct increase mechanisms are used, that is, aeroponics, hydroponics, and aquaponics. The vertical farming market also consists of structure that includes building-based and shipping container vertical farms. The entire vertical farming market is divided based on area into North America continent, Europe (EU), Asia Pacific (APAC) and Rest of the globe.

Main highlights

• this business report includes the industry statistics pertaining to offering, structure, increase mechanism, and territory together with their respective revenue.

• Porter's five forces framework has been provided along with the value chain study to offer an insight into the vertical farming market.

• The main drivers, market restraints, opportunities, and alternatives for the vertical farming market have been precised in this industry report.

• Illustrative segmentation, study, and estimate for the vertical farming market established on offering, structure, increase mechanism, crop type, and area has been conducted to give an global view of the vertical farming market.

• A in-depth competitive landscape has been provided that includes top players, complete study, and revenue of the main actors.

• The available customizations for the report offer further country-wise segmentation of the vertical farming market in terms of value importance; further breakdown of the sector could be provided along with profiling of additional firms in the market research.

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