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Vertical Farming Market share research by applications
and regions for 2017-2024: Global Market Insights Inc.
The global Vertical Farming Market share report provides numbers for applications
and regional segments of the industry covering historical as well as forecast data for
decision makers.
Low availability of land and fluctuating weather conditions will lead Vertical Farming
Market to generate a sizable revenue over the next seven years. Of late, the issues of
excess population, water conservation, crop production, and recycling have been
plaguing the world. Vertical farming is expected to provide a feasible solution for these
problems. Being the latest phenomenon in urban farming, vertical farming is secured
with biosecurity procedures that prevent pest attacks on crops and restrict plant
disease. Additionally, there is no concept of seasonal crop or run-offs, which
eliminates crop spoilage and transport costs, thereby fueling vertical farming industry
expansion. A report by Global Market Insights, Inc., state that vertical farming market
size is expected to cross USD 13 billion by 2024, with a striking CAGR of 27% over
2017-2024, having had a base valuation of USD 2 billion in 2017.

Vertical farming involves plants being grown in vertical layers, stacked one after the
other in warehouses, barren lands, deserts, high-rise buildings, and shipping
containers. It reduces the necessity of pesticides, sprays, and herbicides in cropping
systems and helps farmers deliver their produce on time. These benefits are expected
to positively influence vertical farming market. Players operating in this market engage
in collaborations to enhance crop yield and provide a positive impetus to vertical
farming market. For instance, Canada based Ecobain Gardens recently formed an
alliance with Philips Lighting Holding B.V. with an aim to replace its lights with Philips
GreenPower LED lights to improve crop quality and increase its sales.
The product landscape of vertical farming industry encompasses fruits, vegetables &
herbs, equipment, and aquatic species. Raising fish and crabs in vertical farms has
brought about increased economic growth in most European countries. High
consumption of farm-raised fish and tilapia will lead Europe vertical farming market to
grow at a modest rate over 2017-2024. Belgium, UK, Netherlands and Germany are
slated to be major revenue contributors. Subject to the increased consumption of
vegetables and fruits, lettuce held more than 30% of the total fruits, vegetables & herbs
segment in 2016 and is expected to increase over the next few years.
Vertical farming can be implemented in an outdoor or indoor setting. Outdoor
applications held less than 30% of the overall vertical farming market and will depict a
slightly sluggish growth rate over the next seven years. Indoor applications, on the

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other hand, held a rather significant share of vertical farming industry in 2016 and will
exhibit a huge growth rate over the years ahead.
This type of farming is especially prevalent in the United States and China, owing to
the fact they account for additional income apart from the economic benefits obtained
from traditional farming methods. North America accounted for a huge share of global
vertical farming market in 2016, subject to the increased number of indoor farming
applications, extensive R&D research, and strong technical expertise.
U.S. Vertical Farming Market Size, By Technology, 2013 – 2024 (USD Million)

Browse key industry insights spread across 225 pages with 221 market data tables &
11 figures & charts from the report, “Vertical Farming Market Size By Product
(Equipment [Lighting Systems, Pumps & Irrigation Systems, Tanks, Sensors,
Pipes, Climate Controllers, Meters & Solutions], Fruits, Vegetables & Herbs
[Tomato, Lettuce, Bell & Chili Peppers, Strawberry, Cucumber, Leafy Greens],
Aquatic Species [Tilapia, Bass, Trout, Salmon, Crab]), By Technology
(Hydroponics, Aeroponics, Aquaponics), By Application (Indoor, Outdoor),
Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK,
Netherlands, Belgium China, India, Japan, South Korea, Mexico, Brazil,
Argentina, South Africa, GCC), Growth Potential, Price Trends, Competitive
Market Share & Forecast, 2017–2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/vertical-farming-market
Hydroponics technology held more than 50% of the overall vertical farming industry
and is expected to grow significantly over 2017-2024. Aeroponics, however, is
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anticipated to be the fastest growing technology over the next few years, subject to
the fact that its usage saved more than 95% of water used in farming.
Asia Pacific vertical farming market is anticipated to grow at a lucrative CAGR subject
to the deployment of high grade farming technologies. Notable revenue contributors
include Japan, Taiwan, Singapore, Inia, China, and South Korea. Owing to the fact
that Japan houses a vast number of vertical farms, the region accounted for more than
25% of APAC vertical farming share in 2016 and will grow notably over the years
ahead. Singapore is also expected to be a profitable avenue for the growth of vertical
farming market.
General Hydroponics, Urban Crop Solutions, Green Spirit Farms, Spread Co. Ltd.,
Aerofarms, Mirai Co.Ltd., Plantagon International AB, Sky Greens, and American
Hydroponics are major participants operating in global vertical farming market. These
firms are engaged in numerous growth tactics such as strategic partnerships and
improved product development to enhance the growth of vertical farming market.

Report Content of Vertical Farming Market:
Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1.

Initial data exploration

1.1.2.

Statistical model and forecast

1.1.3.

Industry insights and validation

1.1.4.

Definitions & forecast parameters

1.2. Data sources
1.2.1.

Primary

1.2.2.

Secondary

Chapter 2. Executive Summary
2.1. Vertical Farming industry 360° synopsis, 2013 – 2024
2.1.1.

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Business trends

2.1.2.

Product trends

2.1.3.

Technology trends

2.1.4.

Application trends

2.1.5.

Regional trends

Chapter 3. Vertical Farming Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1.

Vendor matrix

3.3.2.

Distributor channel analysis

3.4. Industry impact forces
3.4.1.

Growth drivers
3.4.1.1.
Soaring population levels leading to imbalances in
food demand and supply

3.4.2.

3.4.1.2.

Scarcity of farming land: A major natural resource

3.4.1.3.
changes

Stabilized crop production irrespective of climatic

3.4.1.4.

Conservation and recycling of natural resources

Industry pitfalls & challenges
3.4.2.1.

Higher initial investments

3.4.2.2.

Lack of technical acumen

3.4.2.3.

Limitations of crops species grown

3.4.2.4.

High energy consumption (light, air conditioning)

3.5. Growth potential analysis, 2016
3.6. Technology & innovation landscape
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3.6.1.

Patent analysis

3.7. Regulatory trends
3.7.1.

U.S.

3.7.2.

Asia-Pacific

3.7.3.

Europe

3.8. Porter’s analysis
3.9. Competitive landscape analysis, 2016
3.9.1.

Strategy dashboard

3.10. PESTEL analysis
3.11. Cost structure analysis
About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom research
reports along with growth consulting services. Our business intelligence and industry
research reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These exhaustive
reports are designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy and
biotechnology.
Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: https://www.gminsights.com/blogs
Connect with us: Facebook | Google+ | LinkedIn | Twitter

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