Vertical Farming Market Growing at a CAGR of 24.8% During 2016 to 2022

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31 Jan, 2017, 07:00 IST

PUNE, India, January 31, 2017 /PRNewswire/ --

The global vertical farming market is expected to be valued at USD 5.80 billion by 2022, growing at a CAGR of 24.8% between 2016 and 2022 while lighting devices and hydroponics components are expected to dominate the hardware segment of vertical farming market between 2016 and 2022.

Browse 80 tables and 77 figures, 11 Company profiles spread across 174 pages available at http://www.reportsnreports.com/reports/457086-vertical-farming-market-by-functional-device-lighting-hydroponic-component-climate-control-and-sensors-growth-mechanism-aeroponics-hydroponics-and-others-and-by-geography-global-forecast-to-2020.html.

The growth of the worldwide vertical farming market could be attributed to the growing urbanization, rising demand for high quality food with no use of pesticides and herbicides, and independent farming technique with low impact of climatic conditions. However, the high initial investments, dearth of technical acumen, and limitations on the variety of crops grown are the restraints in the vertical farming market.

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

The vertical farming value chain include companies such as Sky Greens (Singapore), FarmedHere (U.S.), AeroFarms (U.S.), Green Sense Farms LLC (U.S.), Agrilution (Germany), American Hydroponics (U.S.), Illumitex, Inc. (U.S.), Koninklijke Philips N.V. (The Netherlands), Urban Crops (Belgium), and Everlight Electronics (Taiwan) among others. Order a copy of Vertical Farming Market by Growth Mechanism (Hydroponics, Aeroponics, and Aquaponics), Structure (Building Based and Shipping Container), Offering (Hardware, Software, and Service), Crop Type, and Geography - Global Forecast to 2022 research report at http://www.reportsnreports.com/purchase.aspx?name=457086.

This report covers regions such as North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The APAC is expected to have the largest share of the vertical farming market between 2016 and 2022. The high growth of vertical farming in the APAC region is because of developing countries like China, Japan, and Singapore. Japan is the key country as far as vertical farming is concerned. Japan has many plant factories equipped with artificial lights in the operational form. Toshiba (Japan), which is the largest consumer electronics company converted their old factory into vertical facilities and is planning to grow vegetables such as lettuces.

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