Global Vertical Farming Market Report 2013-2018 Forecast to 2023 - Increasing Adoption of Organic Foods is Driving the Market

DUBLIN, March 16, 2018 /PRNewswire/ --

The "Global Vertical Farming Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insights by Hardware Type (Lighting, Hydroponics Components, Climate Control and Sensors), by Structure, by Growth Mechanism, by Crop Type" report has been added to ResearchAndMarkets.com's offering.

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.

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 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.

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.

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 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.

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.

Market Dynamics

Drivers

• Increasing Adoption of Organic Foods
• Rising Urban Population
• Growing Focus Towards Environment Friendly Production of Fresh Fruits and Vegetables
• Impact Analysis of Drivers on Market Forecast

Restraints

• High Initial Investments in Vertical Farming
• Limitations on the Variety of Crops Grown
• Impact Analysis of Restraints on Market Forecast

Opportunities

• Growing Usage of IoT Sensors in Producing Crops
• Growing Production of Biopharmaceutical Products
• Growing Demand of Vertical Farming in APAC

Key Topics Covered

Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.2.1 Traditional Farming Vs Vertical Farming
1.3 Research Scope
1.3.1 Market Segmentation by Component
1.3.2 Market Segmentation by Structure
1.3.3 Market Segmentation by Growth Mechanism
1.3.4 Market Segmentation by Crop Type
1.3.5 Market Segmentation by Geography
1.3.6 Analysis Period
1.3.7 Market Data Reporting Unit
1.3.7.1 Value
1.4 Key Stakeholders

Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By region
2.2.1.2 By industry participants
2.2.1.3 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction
4.1 Market Definition
4.1.1 By Component
4.1.1.1 Hardware
4.1.1.1.1 Lighting
4.1.1.1.1.1 Grow lights
4.1.1.1.1.2 Grow light reflectors
4.1.1.1.1.3 Grow light ballasts
4.1.1.1.2 Hydroponics component
4.1.1.1.2.1 Water filters
4.1.1.1.2.2 Meters and solutions
4.1.1.1.2.3 Pumps and irrigation
4.1.1.1.2.4 Others
4.1.1.1.3 Climate control
4.1.1.1.3.1 Ventilation fans
4.1.1.1.3.2 Air purification/control
4.1.1.1.3.3 Others
4.1.1.1.4 Sensors
4.1.1.1.4.1 Temperature sensors
4.1.1.1.4.2 PH sensors
4.1.1.1.4.3 CO2 sensors
4.1.1.1.4.4 Crop sensors
4.1.1.1.4.5 Nutrient sensors
4.1.1.1.4.6 Others
4.1.1.2 Software
4.1.2 By Structure
4.1.2.1 Building based
4.1.2.2 Shipping container
4.1.3 By Growth Mechanism
4.1.3.1 Hydroponics
4.1.3.2 Aeroponics
4.1.3.3 Aquaponics
4.1.4 By Crop Type
4.1.4.1 Lettuce
4.1.4.2 Spinach
4.1.4.3 Broccoli
4.1.4.4 Cucumber
4.1.4.5 Pepper
4.1.4.6 Tomato
4.1.4.7 Others
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Buyers
4.3.2 Bargaining Power of Suppliers
4.3.3 Threat of New Entrants
4.3.4 Intensity of Rivalry
4.3.5 Threat of Substitutes

Chapter 5. Market Size and Forecast by Component
5.1 Hardware
5.1.1 Lighting
5.1.1.1 Global vertical farming lighting market, by type
5.1.1.2 Global vertical farming lighting market, by region
5.1.2 Hydroponics Component
5.1.2.1 Global vertical farming hydroponics component market, by type
5.1.2.2 Global vertical farming hydroponics component market, by region
5.1.3 Sensors
5.1.3.1 Global vertical farming sensors market, by type
5.1.3.2 Global vertical farming sensors market, by region
5.1.4 Climate Control
5.1.4.1 Global vertical farming climate control market, by type
5.1.4.2 Global vertical farming climate control market, by region
5.2 Software
5.2.1 Global Vertical Farming Software Market, by Region

Chapter 6. Market Size and Forecast by Structure
6.1 Building-Based Vertical Farms Market, by Region
6.2 Shipping-Container Vertical Farm Market, by Region

Chapter 7. Market Size and Forecast by Growth Mechanism
7.1 Hydroponics Market, by Region
7.2 Aeroponics Market, by Region
7.3 Aquaponics Market, by Region

Chapter 8. Market Size and Forecast by Crop Type
8.1 Global Vertical Farming Market for Lettuce, by Region
8.2 Global Vertical Farming Market for Pepper, by Region
8.3 Global Vertical Farming Market for Broccoli, by Region
8.4 Global Vertical Farming Market for Cucumber, by Region
8.5 Global Vertical Farming Market for Spinach, by Region
8.6 Global Vertical Farming Market for Tomato, by Region
8.7 Global Vertical Farming Market for Other Crops, by Region

Chapter 9. Market Size and Forecast by Geography
9.1 Global Vertical Farming Market
9.1.1 North America Vertical Farming Market
9.1.1.1 North America vertical farming market, by country
9.1.1.1.1 The U.S. vertical farming market
9.1.1.1.2 Canada vertical farming market
9.1.1.1.3 Rest of North America vertical farming market
9.1.1.2 North America vertical farming market, by component
9.1.1.2.1 North America vertical farming hardware market, by type
9.1.1.3 North America vertical farming market, by structure
9.1.1.4 North America vertical farming market, by growth mechanism
9.1.1.5 North America vertical farming market, by crop type
9.1.2 Europe Vertical Farming Market
9.1.2.1 Europe vertical farming market, by country
9.1.2.1.1 The U.K. vertical farming market
9.1.2.1.2 Netherlands vertical farming market
9.1.2.1.3 Sweden vertical farming market
9.1.2.1.4 France vertical farming market
9.1.2.1.5 Rest of Europe vertical farming market
9.1.2.2 Europe vertical farming market, by component
9.1.2.2.1 Europe vertical farming hardware market, by type
9.1.2.3 Europe vertical farming market, by structure
9.1.2.4 Europe vertical farming market, by growth mechanism
9.1.2.5 Europe vertical farming market, by crop type
9.1.3 Asia-Pacific Vertical Farming Market
9.1.3.1 Asia-Pacific vertical farming market, by country
9.1.3.1.1 Japan vertical farming market
9.1.3.1.2 China vertical farming market
9.1.3.1.3 Singapore vertical farming market
9.1.3.1.4 Taiwan vertical farming market
9.1.3.1.5 Rest of Asia-Pacific vertical farming market
9.1.3.2 Asia-Pacific vertical farming market, by component
9.1.3.2.1 Asia-Pacific vertical farming hardware market, by type
9.1.3.3 Asia-Pacific vertical farming market, by structure
9.1.3.4 Asia-Pacific vertical farming market, by growth mechanism
9.1.3.5 Asia-Pacific vertical farming market, by crop type
9.1.4 Middle-East and Africa Vertical Farming Market
9.1.4.1 Middle-East and Africa vertical farming market, by country
9.1.4.1.1 South Africa vertical farming market
9.1.4.1.2 Rest of Middle East and Africa vertical farming market
9.1.4.2 Middle-East and Africa vertical farming market, by component
9.1.4.2.1 Middle-East and Africa vertical farming hardware market, by type
9.1.4.3 Middle-East and Africa vertical farming market, by structure
9.1.4.4 Middle-East and Africa vertical farming market, by growth mechanism
9.1.4.5 Middle-East and Africa vertical farming market, by crop type
9.1.5 Latin America Vertical Farming Market
9.1.5.1 Latin America vertical farming market, by country
9.1.5.1.1 Brazil vertical farming market
9.1.5.1.2 Rest of Latin America vertical farming market
9.1.5.2 Latin America vertical farming market, by component
9.1.5.2.1 Latin America vertical farming hardware market, by type
9.1.5.3 Latin America vertical farming market, by structure
9.1.5.4 Latin America vertical farming market, by growth mechanism
9.1.5.5 Latin America vertical farming market, by crop type

Chapter 10. Competitive Landscape
10.1 Recent Activities of Major Players
10.2 Global Strategic Developments
10.2.1 Partnership
10.2.2 Product Launch
10.2.3 Others

Chapter 11. Company Profiles
11.1 Koninklijke Philips N.V.
11.1.1 Business Overview
11.1.2 Product and Service Offerings
11.1.3 Strategic Growth Plans
11.2 AeroFarms LLC
11.2.1 Business Overview
11.2.2 Product and Service Offerings
11.3 Sky Greens PTE. LTD.
11.3.1 Business Overview
11.3.2 Product and Service Offerings
11.4 Illumitex Inc.
11.4.1 Business Overview
11.4.2 Product and Service Offerings
11.5 Everlight Electronics Co., Ltd.
11.5.1 Business Overview
11.5.2 Product and Service Offerings
11.6 Agrilution GmbH
11.6.1 Business Overview
11.6.2 Product and Service Offerings
11.7 American Hydroponic Systems Inc.
11.7.1 Business Overview
11.7.2 Product and Service Offerings
11.8 Urban Crops Solutions Inc.
11.8.1 Business Overview
11.8.2 Product and Service Offerings
11.9 Vertical Farm Systems
11.9.1 Business Overview
11.9.2 Product and Service Offerings
11.10 Hort Americas, LLC
11.10.1 Business Overview
11.10.2 Product and Service Offerings

For more information about this report visit https://www.researchandmarkets.com/research/zx24nf/global_vertical?w=5

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