1. Market Research
  2. > Agriculture
  3. > Agricultural Products Market Trends
Global Vertical Farming Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insights by Hardware Type, by Structure, by Growth Mechanism, by Crop Type

Global Vertical Farming Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insights by Hardware Type, by Structure, by Growth Mechanism, by Crop Type

  • November 2017
  • 196 pages
  • ID: 5289042
  • Format: PDF
  • By Prescient & Strategic Intelligence Private Limited

Summary

Table of Contents

Global vertical farming market is expected to reach $6,372.5 million by 2023, witnessing CAGR of 24.2% on account of increasing awareness levels among consumers and rising disposable income, leading to the consumption of high value crops.

Adoption of organic foods, rising urban population, growing focus towards efficient production of fresh fruits and vegetables among the consumers in the developing countries are expected to boost the growth of the vertical farming market during the forecast period. of the vertical farming is also known as urban farming or indoor farming.

Insights on market segments
As per the findings of research, lettuce, spinach, broccoli, cucumber, and pepper are the major types of crops that are grown through vertical farming technique. These crops contributed around 80% to the vertical farming market in 2016.

The market for spinach is likely to register the highest growth during the forecast period. Hydroponics growth mechanism accounted for the largest revenue share in 2016, as it does not require any soil and offers solutions where water can be reused for growing crops, making this mechanism highly preferable among crop producers.

North America to remain the largest market throughout the forecast period
North America is projected to remain the largest vertical farming market throughout the period of analysis. Although small residential urban farming in the region has been around for decades, commercial urban farming has gained traction in the last few years. The region is witnessing a growing inclination towards this farming technology.

Growing focus towards efficient production of fruits and vegetables
The growing inclination towards efficient production of fruits and vegetables in environment friendly conditions, irrespective of climatic conditions, is driving the growth of vertical farming market. It minimizes the transportation time of fresh foods starting from harvesting, till it reaches the consumers, which is one of the major factors boosting the growth for this market.

Growing production of biopharmaceutical products
The vertical farming market is gaining traction as many pharmaceutical companies are adopting this type of farming to produce a variety of medicinal plants used in biopharmaceutical products. Companies are developing their own patented products from raw seed and further provide proprietary products to the medicinal, nutraceutical and cosmetic industries, which helps them in expanding their customer base.

High investment in the vertical farming
High price of farmscraper is adversely impacting the growth of vertical farming industry. Most of the hardware used in the industry are very costly, due to their advanced features such as enabled lights and temperature control.

The cost of organic pesticides is also increasing, which is driving the total cost of investment. The high cost of hardware makes it difficult for small and mid-sized enterprises to implement them, which is hindering the growth of the vertical farming market. The rising water cost along with increasing electricity price is also hindering the growth of the market, across the globe.

Highly consolidated market
The vertical farming industry is moderately competitive, with players offering advanced technology solutions to cultivate specific crops. Some of the major players in the industry are Koninklijke Philips N.V., AeroFarms LLC, Sky Greens Pte. Ltd, Illumitex Inc, Everlight Electronics Co. Ltd, Hort Americas, Agrilution GmbH, American Hydroponics Systems Inc., Urban Crop Solutions Inc., and Vertical Farm Systems.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers
APAC Functional Food Ingredients Market - Industry Analysis and Opportunity Assessment, 2019-2029

APAC Functional Food Ingredients Market - Industry Analysis and Opportunity Assessment, 2019-2029

  • $ 3500
  • November 2019

A recent market study published on the functional food ingredients market offers APAC industry analysis for 2014 - 2018 & opportunity assessment for 2019 - 2029. The study offers a comprehensive assessment ...

Nutraceuticals Market to 2027 - Global Analysis and Forecasts By Type ; Application

Nutraceuticals Market to 2027 - Global Analysis and Forecasts By Type ; Application

  • $ 4550
  • December 2019

The global nutraceuticals market was valued at US$ 252,535.4 Mn in 2018 and is projected to be worth US$ 465,709.8 Mn by 2027, growing at a CAGR of 7.1 % during the forecast period 2019 - 2027. The nutraceuticals ...

Plant-based Protein Market - Global Outlook and Forecast 2020-2025

Plant-based Protein Market - Global Outlook and Forecast 2020-2025

  • $ 3500
  • December 2019

The global plant-based protein market is expected to grow at a CAGR of over 8% during the forecast period 2019–2025.The growing health consciousness trend among people is expected to influence the global ...

Global Foliar Spray Industry $ 5450 January 2020


ref:plp2017

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on