Vertical Farming - Global Market Outlook (2015-2022)
According to Stratistics MRC, the Global Vertical Farming Market is estimated at $1.15 billion in 2015 and is poised to reach $6.31 billion by 2022, growing at a CAGR of 27.5%. Increasing inclination towards healthy food without pesticides, rising urban population and no weather related crop failures are the factors favoring the market growth. However, limited variety of crops, high initial investment and lack of technical insights are the restraining factors for vertical farming market. Rapidly increasing city population has made farm land inadequate for cultivation, so there is need for alternative farming techniques which acts as opportunity for vertical farming.
Based on functional device, lighting segment is likely to dominate the vertical farming market during the forecast period, due to the replacement of traditional lighting systems by energy-efficient LEDs. Many advantages associated with hydroponics such as recycling of water and reduced nutrition costs, is expected to exhibit considerable growth over the forecast period. Asia-Pacific region is projected to hold the largest share of global vertical farming market due to increasing demand for high quality food, rising urban population and government incentives in China, Singapore, and Japan.
Some of the key players in the global market include Aerofarms, Agrilution, American Hydroponics, Everlight Electronics, Farmedhere, Green Sense Farms, Hort Americas, Illumitex, Inc., Koninklijke Philips N.V, Moflo Aeroponics, Nihon Advanced Agri Corporation, Pacific Group, Philips Horticulture Lamps, Sky Green and Spread Co.
Functional Devices Covered:
• Climate Control
o Air Purification/Control
o Ventilation Fans
o Other Climate Controlers
• Hydroponics Components
o Meters & Solutions
o Pumps & Irrigation
o Water Filtration
o Other Hydroponics Components
o Grow Light Ballasts
o Grow Light Reflectors
o Grow Light
o Crop Sensor
o Co2 Sensor
o Nutrient Sensor
o Ph Sensor
o Other Sensors
Growth Mechanisms Covered:
• Other Growth Mechanisms
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• Rest of the World
o Middle East
o South Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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