Vertical farming technologies market to grow at a CAGR of 25.14% from 2022 to 2027|4D Bios Inc., AeroFarms LLC, Bowery Farming Inc., and more to emerge as key players -Technavio

NEW YORK, July 17, 2023 /PRNewswire/ -- The vertical farming technologies market size is estimated to grow by USD 10,272.26 million from 2022 to 2027, at a CAGR of 25.14% according to Technavio.The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including 4D Bios Inc., AeroFarms LLC, Bowery Farming Inc., Eden Green Technology, Freight Farms Inc., Gronska Stadsodling, Grow Pod Solutions, GrowUp Farms Ltd., Hort Americas LLC, IGS Ltd., Indoor Urban Farming GmbH, Koninklijke Philips NV, Plenty Unlimited Inc., SANANBIO, Sky Greens, SPREAD Co. Ltd., Swegreens, Urban Crop Solutions, Vertical Future Ltd., and Vertical Farm Systems Pty Ltd. Download a Sample Report Now!

Vertical farming technologies market Insights -

• Vendors: 15+, Including 4D Bios Inc., AeroFarms LLC, Bowery Farming Inc., Eden Green Technology, Freight Farms Inc., Gronska Stadsodling, Grow Pod Solutions, GrowUp Farms Ltd., Hort Americas LLC, IGS Ltd., Indoor Urban Farming GmbH, Koninklijke Philips NV, Plenty Unlimited Inc., SANANBIO, Sky Greens, SPREAD Co. Ltd., Swegreens, Urban Crop Solutions, Vertical Future Ltd., and Vertical Farm Systems Pty Ltd, among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: Application (Hydroponics, Aeroponics, and Aquaponics), Type (Shipping container and Building-based), and Geography (Europe, APAC, North America, South America, and Middle East and Africa)

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Major Drivers - The increase in the focus on reducing labor costs for farming is driving the vertical farming technologies market. Manual labor is necessary only on-site for planting and packaging crops. The cost of access is one of the main costs associated with farming. This includes the cost required for the laborers to spend on the farm for walking, retrieving growing channels, riding scissor lifts, and checking crops.

With the use of modern vertical farming technologies like stacked NFT and zip racks, the cost of access can be reduced, which includes walking down the rows, using a scissor lift to reach higher levels, pulling crop channels out to the workbench, and bending over to reach lower levels. Thus, the ZipFarm technologies help increase labor efficiencies with reduced labor costs.

Significant Trends - The rising inclination toward technologies that offer water-saving and energy-saving benefits is expected to have a positive impact on the vertical farming technologies market during the forecast period. The usage of high-efficiency LED lighting technology in vertical farming ensures minimum power use for maximum plant growth. The duration and intensity of several parts of the light spectrum at different growth stages are accurately programmed in the computer management system, thereby minimizing energy use and ensuring optimized crop yields. The usage of high thermal efficiency buildings instead of poly greenhouses also helps in using low air volume. Vertical farming technologies provide a closed growing system with controlled transpiration losses. These technologies use integrated technology with farm management systems and ensure low water consumption.

Key challenges - The high initial cost challenge the growth of the vertical farming technologies market during the forecast period. These technologies require the entire farming area to be covered by a shelter capable of withstanding the climate of the respective region and artificial lighting and heating based on climate change. Also, they are highly dependent on external inputs such as electricity, heat, and fuel. Additionally, the end-users need to have proper awareness regarding the efficient use of vertical farming technologies. Hence, such challenges impede market growth during the forecast period.

Drivers, Trends, and Challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

The vertical farming technologies market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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What are the key data covered in this vertical farming technologies market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the vertical farming technologies market between 2023 and 2027
• Precise estimation of the size of the vertical farming technologies market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the vertical farming technologies market across Europe, APAC, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of vertical farming technologies market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global vertical farming technologies market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global vertical farming technologies market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Hydroponics - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Hydroponics - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Hydroponics - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Hydroponics - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Hydroponics - Year-over-year growth 2022-2027 (%)

• 6.4 Aeroponics - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Aeroponics - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Aeroponics - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Aeroponics - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Aeroponics - Year-over-year growth 2022-2027 (%)

• 6.5 Aquaponics - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Aquaponics - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Aquaponics - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Aquaponics - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Aquaponics - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Application 
• Exhibit 46: Market opportunity by Application ($ million)
• Exhibit 47: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 48: Chart on Type - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 50: Chart on Comparison by Type
• Exhibit 51: Data Table on Comparison by Type

• 7.3 Shipping container - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Shipping container - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Shipping container - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Shipping container - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Shipping container - Year-over-year growth 2022-2027 (%)

• 7.4 Building-based - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Building-based - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Building-based - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Building-based - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Building-based - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 60: Market opportunity by Type ($ million)
• Exhibit 61: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027 
• Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027 
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 The Netherlands - Market size and forecast 2022-2027 
• Exhibit 91: Chart on The Netherlands - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on The Netherlands - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on The Netherlands - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on The Netherlands - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 China - Market size and forecast 2022-2027 
• Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027 
• Exhibit 103: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ million)
• Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 4D Bios Inc.
• Exhibit 115: 4D Bios Inc. - Overview
• Exhibit 116: 4D Bios Inc. - Product / Service
• Exhibit 117: 4D Bios Inc. - Key offerings

• 12.4 AeroFarms LLC
• Exhibit 118: AeroFarms LLC - Overview
• Exhibit 119: AeroFarms LLC - Product / Service
• Exhibit 120: AeroFarms LLC - Key offerings

• 12.5 Bowery Farming Inc.
• Exhibit 121: Bowery Farming Inc. - Overview
• Exhibit 122: Bowery Farming Inc. - Product / Service
• Exhibit 123: Bowery Farming Inc. - Key offerings

• 12.6 Eden Green Technology 
• Exhibit 124: Eden Green Technology - Overview
• Exhibit 125: Eden Green Technology - Product / Service
• Exhibit 126: Eden Green Technology - Key offerings

• 12.7 Freight Farms Inc.
• Exhibit 127: Freight Farms Inc. - Overview
• Exhibit 128: Freight Farms Inc. - Product / Service
• Exhibit 129: Freight Farms Inc. - Key offerings

• 12.8 Gronska Stadsodling
• Exhibit 130: Gronska Stadsodling - Overview
• Exhibit 131: Gronska Stadsodling - Product / Service
• Exhibit 132: Gronska Stadsodling - Key offerings

• 12.9 Grow Pod Solutions
• Exhibit 133: Grow Pod Solutions - Overview
• Exhibit 134: Grow Pod Solutions - Product / Service
• Exhibit 135: Grow Pod Solutions - Key offerings

• 12.10 GrowUp Farms Ltd.
• Exhibit 136: GrowUp Farms Ltd. - Overview
• Exhibit 137: GrowUp Farms Ltd. - Product / Service
• Exhibit 138: GrowUp Farms Ltd. - Key offerings

• 12.11 Hort Americas LLC
• Exhibit 139: Hort Americas LLC - Overview
• Exhibit 140: Hort Americas LLC - Product / Service
• Exhibit 141: Hort Americas LLC - Key offerings

• 12.12 IGS Ltd.
• Exhibit 142: IGS Ltd. - Overview
• Exhibit 143: IGS Ltd. - Product / Service
• Exhibit 144: IGS Ltd. - Key offerings

• 12.13 Koninklijke Philips NV 
• Exhibit 145: Koninklijke Philips NV - Overview
• Exhibit 146: Koninklijke Philips NV - Business segments
• Exhibit 147: Koninklijke Philips NV - Key news
• Exhibit 148: Koninklijke Philips NV - Key offerings
• Exhibit 149: Koninklijke Philips NV - Segment focus

• 12.14 Plenty Unlimited Inc. 
• Exhibit 150: Plenty Unlimited Inc. - Overview
• Exhibit 151: Plenty Unlimited Inc. - Product / Service
• Exhibit 152: Plenty Unlimited Inc. - Key offerings

• 12.15 SANANBIO
• Exhibit 153: SANANBIO - Overview
• Exhibit 154: SANANBIO - Product / Service
• Exhibit 155: SANANBIO - Key offerings

• 12.16 SPREAD Co. Ltd.
• Exhibit 156: SPREAD Co. Ltd. - Overview
• Exhibit 157: SPREAD Co. Ltd. - Product / Service
• Exhibit 158: SPREAD Co. Ltd. - Key offerings

• 12.17 Vertical Farm Systems Pty Ltd 
• Exhibit 159: Vertical Farm Systems Pty Ltd - Overview
• Exhibit 160: Vertical Farm Systems Pty Ltd - Product / Service
• Exhibit 161: Vertical Farm Systems Pty Ltd - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 162: Inclusions checklist
• Exhibit 163: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 164: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 165: Research methodology
• Exhibit 166: Validation techniques employed for market sizing
• Exhibit 167: Information sources

• 13.5 List of abbreviations 
• Exhibit 168: List of abbreviations

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