Global Vertical Farming Market - By Technology, Functional Device, Geography- Market Size, Demand Forecasts, Industry Trends and Updates (2014- 2020)
NEW YORK, Nov. 16, 2016 /PRNewswire/ -- Vertical farming is a closed environment in which plants are grown under lights in shelves stacked one on another. All the elements needed for plant growth are artificially controlled, a process that removes detrimental influences such as poor weather conditions and pesticides and Traditional agriculture lives at the mercy of the elements. A plant factory is run based on science. Science is used to produce plants based on carefully controlled spectrum best for plant growth, to produce plants of a fixed quality, quantity, cost, time to harvest, and tuned to control the sale price.
Vertical farming is a modern cultivation practice of growing plants in a closed environment on vertical surfaces or skyscraper greenhouses. This practice uses artificial lighting and metal reflectors in replacement to natural sunlight.
Supply – Demand Scenario:
Global Vertical Farming market was 600 million USD in 2014 and is estimated to reach XX billion by 2020.
Growth by Region:
North America , leads a market with a share of XX% in 2014.The region is expected to be a fastest growing during a forecast period.
Drivers vs. Constraints:
Demand for ability to grow food locally, demand for ability to grow food consistently, dedicating space that is efficient for producing food, ability to produce organic vegetables and 24 hrs a day, maintenance of freshness and hygiene in crops, land available for farming depleting quickly, New types of farming are a major the factors driving a growth of vertical farming.
Industry Structure and Updates:
The use of pesticides and poor weather conditions have low detrimental impact in vertical farming. These plants are produced in specific quality and quantity, having control over its cost and sales prices.
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