Vertical Farming Market Size, Share, Growth, Sales Revenue and Key Drivers Analysis Research Report by 2027

Market Size – USD 2.90 billion in 2019, Market Growth – CAGR of 20.1%, Market Trends – Increasing utilization of hydroponics method. 

The growth of this market can be attributed to the growing demand for organic food products among consumers. Growing environmental co     ncerns 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 scarcity of space in the densely populated countries has resulted in the increasing adoption of the vertical farming method. The advantages of growing crops close to urban areas and the reduction in transportation costs are expected to fuel the vertical farming market’s growth over the forecast period.

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.

Regional Scope- North America; Europe; Asia Pacific; Central & South America; MEA

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Key participants include Freight Farms, Signify, Osram, Aerofarms, BrightFarms, Everlight Electronics, HELIOSPECTRA AB, Illumitex, Inc., AGRICOOL, and SKY GREENS, among others.

Structure Outlook (Revenue, USD Billion; 2017-2027)

Building-based

Shipping-container

Growth mechanisms Outlook (Revenue, USD Billion; 2017-2027)

Aeroponics

Hydroponics

Aquaponics

Offering Outlook (Revenue, USD Billion; 2017-2027)

Climate Control

Lighting

Hydroponic Components

Sensors

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Table of Content

Chapter 1. Methodology & Sources

    1.1. Market Definition

    1.2. Research Scope

    1.3. Methodology

    1.4. Research Sources

          1.4.1. Primary

          1.4.2. Secondary

          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

                    4.2.2.1. Increased demand for organic products

                    4.2.2.2. Increasing disposable income

                    4.2.2.3. Growth of the global population

                    4.2.2.4. Increasing demand for high quality foods

          4.2.3. Market restraints analysis

                    4.2.3.1. High initial investment

                    4.2.3.2. Lack of Skilled workforce

                    4.2.3.3. 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

          5.1.1. Building-based

          5.1.2. Shipping-container

Continue…

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