Vertical Farming Market Overview
Vertical farming is the practice of growing crops in vertically stacked layers. It often incorporates controlled-environment agriculture, which aims to optimize plant growth, and soilless farming techniques such as hydroponics, aquaponics, and aeroponics. The global Vertical Farming market is expected to grow at a sound pace in the times to follow.
Vertical farming systems can be used across shipping containers, buildings, and abandoned mine shafts. The ability to set up vertical farming systems across urban centers has emerged as a crucial factor to propel the growth of the global Vertical Farming market. In addition to this, soilless farming techniques have also gained importance in current times. As well, the use of water-suspended minerals for vertical farming has helped in boosting sales.
Furthermore, plagues and diseases cannot affect crops that are grown across vertical farming systems. Further, the benefits of cost-optimization and production efficiency are some major factors that intensify the growth of the global market. Moreover, countries such as Singapore, London, Israel, and Japan have shown their dexterity in adopting vertical farming techniques. Several other regions and countries are taking inspiration from these regions. Additionally, state governments are providing dedicated spaces for vertical farming. All these key aspects are estimated to have a definite impact on the global Vertical Farming market in the forthcoming years.
Covid-19 Impact on Vertical Farming Market
A pandemic such as COVID-19 has not only affected the smooth operations of food supply chains but also resulted in food insecurity conditions in several nations. Manufacturers working in the sector are facing challenges in regards to operations, supply chain, training, safety, emergency responses, awareness, incident management, recreating business models, digitalization, and other unanticipated impacts. Alcohol, a major component in the beverage industry is facing a devastating effect of a pandemic. Around 13% to 15% of the craft beer sector in the world is in the process of shutting up shop, and the wine industry is in severe distress. Besides, shortage of raw materials caused to shut down of many small to medium food processing companies around the world
Vertical Farming Market Segment Overview
Based on Type, the Hydroponics segment is projected to witness significant growth in the global Vertical Farming market over the forecast period. Hydroponics is the technique or system wherein better-quality plants are grown without the soil. In addition, the technique is capable of enhancing per area yield along with reducing the usage of water. Therefore, due to the rising water crisis, the demand for hydroponics is increasing.
According to Structure, the Building-based vertical farms' segment is anticipated to dominate the global Vertical Farming market throughout the forecast period. The demand for this structure is growing owing to their capability to adapt any land area for cultivation by using tall vertical buildings or towers. Apart from this, new building and construction projects are also constructing spaces to install the structures.
Vertical Farming Market, By Type
· Hydroponics
· Aeroponics
· Aquaponics
Vertical Farming Market, By Structure
· Building-based vertical farms
· Shipping-container-based vertical farms
Vertical Farming Market, By Component
North America holds the major share of the Vertical Farming market and this trend is expected to continue during the forecast period. This is because of the increasing demand for rich quality, organic food and fresh food in this region. Europe is a second major region for the Vertical Farming market. Countries such as Germany, France, Spain, and the Netherland are projected to lead the market. Likewise, The market of the Asia Pacific is anticipated to grow at the fastest rate in the forest period. The declining arable land for traditional agriculture in countries like India, China, and other Asian countries is projected to create growth opportunities for the market in the near future.
Vertical Farming Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Vertical Farming Market Competitor overview
Some key developments and strategies adopted by manufacturers in Vertical Farming are highlighted below.
· In August 2021, Kalera AS, one of the fastest-growing and largest vertical farming companies in the world, announced that it has entered into a share purchase agreement for the acquisition of all shares in &ever GmbH, a global leader in baby leaf indoor farming, for a total consideration reflecting an enterprise value for &ever GmbH of EUR 130 million on a cash and debt free basis as of 1 July 2021.
· In August 2021, Cargill has entered a multi-year research agreement with vertical farming pioneer and leader AeroFarms aimed at improving cocoa bean yields and developing more climate-resilient farming practices.
Vertical Farming Market, Key Players
· Sky Greens
· Illumitex, Inc.
· Green Sense Farms LLC
· Koninklijke Philips N.V.
· BrightFarms
· AeroFarms
· Urban Crops
· Neofarms
· Everlight Electronics Co., Ltd.
Vertical farming is the practice of growing crops in vertically stacked layers. It often incorporates controlled-environment agriculture, which aims to optimize plant growth, and soilless farming techniques such as hydroponics, aquaponics, and aeroponics. The global Vertical Farming market is expected to grow at a sound pace in the times to follow.
Vertical farming systems can be used across shipping containers, buildings, and abandoned mine shafts. The ability to set up vertical farming systems across urban centers has emerged as a crucial factor to propel the growth of the global Vertical Farming market. In addition to this, soilless farming techniques have also gained importance in current times. As well, the use of water-suspended minerals for vertical farming has helped in boosting sales.
Furthermore, plagues and diseases cannot affect crops that are grown across vertical farming systems. Further, the benefits of cost-optimization and production efficiency are some major factors that intensify the growth of the global market. Moreover, countries such as Singapore, London, Israel, and Japan have shown their dexterity in adopting vertical farming techniques. Several other regions and countries are taking inspiration from these regions. Additionally, state governments are providing dedicated spaces for vertical farming. All these key aspects are estimated to have a definite impact on the global Vertical Farming market in the forthcoming years.
Covid-19 Impact on Vertical Farming Market
A pandemic such as COVID-19 has not only affected the smooth operations of food supply chains but also resulted in food insecurity conditions in several nations. Manufacturers working in the sector are facing challenges in regards to operations, supply chain, training, safety, emergency responses, awareness, incident management, recreating business models, digitalization, and other unanticipated impacts. Alcohol, a major component in the beverage industry is facing a devastating effect of a pandemic. Around 13% to 15% of the craft beer sector in the world is in the process of shutting up shop, and the wine industry is in severe distress. Besides, shortage of raw materials caused to shut down of many small to medium food processing companies around the world
Vertical Farming Market Segment Overview
Based on Type, the Hydroponics segment is projected to witness significant growth in the global Vertical Farming market over the forecast period. Hydroponics is the technique or system wherein better-quality plants are grown without the soil. In addition, the technique is capable of enhancing per area yield along with reducing the usage of water. Therefore, due to the rising water crisis, the demand for hydroponics is increasing.
According to Structure, the Building-based vertical farms' segment is anticipated to dominate the global Vertical Farming market throughout the forecast period. The demand for this structure is growing owing to their capability to adapt any land area for cultivation by using tall vertical buildings or towers. Apart from this, new building and construction projects are also constructing spaces to install the structures.
Vertical Farming Market, By Type
· Hydroponics
· Aeroponics
· Aquaponics
Vertical Farming Market, By Structure
· Building-based vertical farms
· Shipping-container-based vertical farms
Vertical Farming Market, By Component
- Irrigation Component
- Lighting
- Sensor
- Climate Control
- Building Material
- Glass Greenhouse
- Plastic Greenhouse
- Others
North America holds the major share of the Vertical Farming market and this trend is expected to continue during the forecast period. This is because of the increasing demand for rich quality, organic food and fresh food in this region. Europe is a second major region for the Vertical Farming market. Countries such as Germany, France, Spain, and the Netherland are projected to lead the market. Likewise, The market of the Asia Pacific is anticipated to grow at the fastest rate in the forest period. The declining arable land for traditional agriculture in countries like India, China, and other Asian countries is projected to create growth opportunities for the market in the near future.
Vertical Farming Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Vertical Farming Market Competitor overview
Some key developments and strategies adopted by manufacturers in Vertical Farming are highlighted below.
· In August 2021, Kalera AS, one of the fastest-growing and largest vertical farming companies in the world, announced that it has entered into a share purchase agreement for the acquisition of all shares in &ever GmbH, a global leader in baby leaf indoor farming, for a total consideration reflecting an enterprise value for &ever GmbH of EUR 130 million on a cash and debt free basis as of 1 July 2021.
· In August 2021, Cargill has entered a multi-year research agreement with vertical farming pioneer and leader AeroFarms aimed at improving cocoa bean yields and developing more climate-resilient farming practices.
Vertical Farming Market, Key Players
· Sky Greens
· Illumitex, Inc.
· Green Sense Farms LLC
· Koninklijke Philips N.V.
· BrightFarms
· AeroFarms
· Urban Crops
· Neofarms
· Everlight Electronics Co., Ltd.
Vertical Farming Market Study Global Market Analysis, Insights and Forecast, 2020-2027
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Vertical Farming Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Hydroponics
- 5.2.2. Aeroponics
- 5.2.3. Aquaponics
- 5.3. Market Analysis, Insights and Forecast – By Structure
- 5.3.1. Building-based vertical farms
- 5.3.2. Shipping-container-based vertical farms
- 5.4. Market Analysis, Insights and Forecast – By Component
- 5.4.1. Irrigation Component
- 5.4.2. Lighting
- 5.4.3. Sensor
- 5.4.4. Climate Control
- 5.4.5. Building Material
- 5.4.5.1. Glass Greenhouse
- 5.4.5.2. Plastic Greenhouse
- 5.4.6. Others
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America Vertical Farming Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Hydroponics
- 6.2.2. Aeroponics
- 6.2.3. Aquaponics
- 6.3. Market Analysis, Insights and Forecast – By Structure
- 6.3.1. Building-based vertical farms
- 6.3.2. Shipping-container-based vertical farms
- 6.4. Market Analysis, Insights and Forecast – By Component
- 6.4.1. Irrigation Component
- 6.4.2. Lighting
- 6.4.3. Sensor
- 6.4.4. Climate Control
- 6.4.5. Building Material
- 6.4.5.1. Glass Greenhouse
- 6.4.5.2. Plastic Greenhouse
- 6.4.6. Others
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Vertical Farming Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Hydroponics
- 7.2.2. Aeroponics
- 7.2.3. Aquaponics
- 7.3. Market Analysis, Insights and Forecast – By Structure
- 7.3.1. Building-based vertical farms
- 7.3.2. Shipping-container-based vertical farms
- 7.4. Market Analysis, Insights and Forecast – By Component
- 7.4.1. Irrigation Component
- 7.4.2. Lighting
- 7.4.3. Sensor
- 7.4.4. Climate Control
- 7.4.5. Building Material
- 7.4.5.1. Glass Greenhouse
- 7.4.5.2. Plastic Greenhouse
- 7.4.6. Others
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Vertical Farming Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Hydroponics
- 8.2.2. Aeroponics
- 8.2.3. Aquaponics
- 8.3. Market Analysis, Insights and Forecast – By Structure
- 8.3.1. Building-based vertical farms
- 8.3.2. Shipping-container-based vertical farms
- 8.4. Market Analysis, Insights and Forecast – By Component
- 8.4.1. Irrigation Component
- 8.4.2. Lighting
- 8.4.3. Sensor
- 8.4.4. Climate Control
- 8.4.5. Building Material
- 8.4.5.1. Glass Greenhouse
- 8.4.5.2. Plastic Greenhouse
- 8.4.6. Others
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Vertical Farming Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Hydroponics
- 9.2.2. Aeroponics
- 9.2.3. Aquaponics
- 9.3. Market Analysis, Insights and Forecast – By Structure
- 9.3.1. Building-based vertical farms
- 9.3.2. Shipping-container-based vertical farms
- 9.4. Market Analysis, Insights and Forecast – By Component
- 9.4.1. Irrigation Component
- 9.4.2. Lighting
- 9.4.3. Sensor
- 9.4.4. Climate Control
- 9.4.5. Building Material
- 9.4.5.1. Glass Greenhouse
- 9.4.5.2. Plastic Greenhouse
- 9.4.6. Others
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Sky Greens
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Illumitex, Inc.
- 10.6. Green Sense Farms LLC
- 10.7. Koninklijke Philips N.V.
- 10.8. BrightFarms
- 10.9. AeroFarms
- 10.10. Urban Crops
- 10.11. Neofarms