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Vertical Farming Market by Component, Structure and Growth Mechanism: Global Opportunity Analysis and Industry Forecast, 2019-2026

  • ID: 4845513
  • Report
  • August 2019
  • Region: Global
  • 234 Pages
  • Allied Analytics LLP

FEATURED COMPANIES

  • 4D Bios Inc.
  • Aerofarms
  • Agrilution
  • Hort Americas
  • Illumitex Inc.
  • Koninklijke Philips N.V.
The global vertical farming market size was valued at $2.23 billion in 2018, and is projected to reach $12.77 billion by 2026, growing at a CAGR of 24.6% from 2019 to 2026. Vertical farming is a non-traditional method to grow crops, which enables ease of harvesting, no effect of climate, high yield, minimal usage of pesticides, less area requirement, and less water consumption. For instance, one hectare of vertical farming is equivalent to nine hectares of traditional outdoor farming and saves nearly 200 tons of water on a daily basis.



Aeroponics, a growth mechanism of vertical farming uses mist, mixed with vital nutrients, water, and oxygen, and directs it to the open roots of the plants for their growth. This growth mechanism is a closed-loop system that uses approximately 95% less water than field farming. This technique does not use pesticides in addition to zero harmful waste production in the environment. The controlled environment of aeroponics has the capability to produce approximately 70% more yield as compared to traditional agriculture.
The demand for vertical farming is expected to increase rapidly during the forecast period, owing to various factors such as rise in popularity of organic food, optimum use of vertical space and balanced energy utilization, ease of crop monitoring and harvesting, and decrease in arable land. However, high initial investments and involvement of nascent technology hamper the market growth. Nonetheless, rise in urban population and surge in adoption of technology driven agriculture are expected to provide lucrative growth opportunities to the vertical farming market players.

The global vertical farming market is segmented based on component, growth mechanism, and region. The structure segment is bifurcated into building-based structure and container-based structure. Based on component, the market is categorized into irrigation component, lighting, sensor, climate control, building material, and others. The building material segment is bifurcated into glass greenhouse and plastic greenhouse. Based on growth mechanism, the market is categorized into hydroponics, aeroponics, and aquaponics. On the basis of region, it is analyzed across North America (U.S., Mexico, and Canada), Europe (UK, Germany, France, Netherlands, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, Singapore, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA).

The key players operating in the market include 4D Bios Inc., Aerofarms, Agrilution, AMHYDRO (American Hydroponics), Everlight Electronics Co., Ltd, Hort Americas, Illumitex Inc., Koninklijke Philips N.V., Urban Crop Solutions, and Sky Greens.

KEY MARKET SEGMENTS BY STRUCTURE
  • Building-based Vertical Farms
  • Container-based Vertical Farms

BY COMPONENT
  • Irrigation Component
  • Lighting
  • Sensor
  • Climate Control
  • Building Material
o Glass Greenhouse
o Plastic Greenhouse
  • Others

BY GROWTH MECHANISM
  • Hydroponics
  • Aeroponics
  • Aquaponics

BY REGION
  • North America
o U.S.
o Mexico
o Canada
  • Europe
o UK
o Germany
o France
o Netherlands
o Rest of Europe
  • Asia-Pacific
o China
o India
o Japan
o Australia
o Singapore
o Rest of Asia-Pacific
  • LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA

KEY PLAYERS
  • 4D Bios Inc.
  • Aerofarms
  • Agrilution
  • AMHYDRO (American Hydroponics)
  • Everlight Electronics Co., Ltd.
  • Hort Americas
  • Illumitex Inc.
  • Koninklijke Philips N.V.
  • Urban Crop Solutions
  • Sky Greens
Frequently Asked Questions about the Global Vertical Farming Market

What is the estimated value of the Global Vertical Farming Market?

The Global Vertical Farming Market was estimated to be valued at $2.2 billion in 2018.

What is the growth rate of the Global Vertical Farming Market?

The growth rate of the Global Vertical Farming Market is 24.4%, with an estimated value of $12.8 billion by 2026.

What is the forecasted size of the Global Vertical Farming Market?

The Global Vertical Farming Market is estimated to be worth $12.8 billion by 2026.

Who are the key companies in the Global Vertical Farming Market?

Key companies in the Global Vertical Farming Market include 4D Bios Inc., Aerofarms, Agrilution, AMHYDRO (American Hydroponics), Everlight Electronics Co. Ltd, Hort Americas, Illumitex Inc., Koninklijke Philips N.V. and Sky Greens..
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • 4D Bios Inc.
  • Aerofarms
  • Agrilution
  • Hort Americas
  • Illumitex Inc.
  • Koninklijke Philips N.V.

Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits For Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools And Models
Chapter 2: Executive Summary
2.1. Cxo Perspective
Chapter 3: Market Overview
3.1. Market Definition And Scope
3.2. Key Findings
3.2.1. Top Impacting Factors
3.2.2. Top Investment Pockets
3.3. Porter’S Five Forces Analysis
3.4. Market Dynamics
3.4.1. Drivers
3.4.1.1. Optimum Use of Vertical Space And Balanced Energy Utilization
3.4.1.2. Ease of Crop Monitoring And Harvesting
3.4.1.3. Increase In Popularity of Organic Foods
3.4.1.4. Limited Arable Land For Traditional Agriculture
3.4.2. Restraints
3.4.2.1. High Initial Investments
3.4.2.2. Developmental Phase of Technologies Used
3.4.3. Opportunity
3.4.3.1. Increase In Urban Population
Chapter 4: Vertical Farming Market, By Structure
4.1. Overview
4.2. Building-Based Vertical Farms
4.2.1. Key Market Trends, Growth Factors, And Opportunities
4.2.2. Market Size And Forecast, By Region
4.2.3. Market Analysis, By Country
4.3. Shipping-Container-Based Vertical Farms
4.3.1. Key Market Trends, Growth Factors, And Opportunities
4.3.2. Market Size And Forecast, By Region
4.3.3. Market Analysis, By Country
Chapter 5: Vertical Farming Market, By Growth Mechanism
5.1. Overview
5.2. Hydroponics
5.2.1. Key Market Trends, Growth Factors, And Opportunities
5.2.2. Market Size And Forecast, By Region
5.2.3. Market Analysis, By Country
5.3. Aeroponics
5.3.1. Key Market Trends, Growth Factors, And Opportunities
5.3.2. Market Size And Forecast, By Region
5.3.3. Market Analysis, By Country
5.4. Aquaponics
5.4.1. Key Market Trends, Growth Factors, And Opportunities
5.4.2. Market Size And Forecast, By Region
5.4.3. Market Analysis, By Country
Chapter 6: Vertical Farming Market, By Component
6.1. Overview
6.2. Irrigation Components
6.2.1. Key Market Trends, Growth Factors, And Opportunities
6.2.2. Market Size And Forecast, By Region
6.2.3. Market Analysis, By Country
6.3. Lighting
6.3.1. Key Market Trends, Growth Factors, And Opportunities
6.3.2. Market Size And Forecast, By Region
6.3.3. Market Analysis, By Country
6.4. Sensor
6.4.1. Key Market Trends, Growth Factors, And Opportunities
6.4.2. Market Size And Forecast, By Region
6.4.3. Market Analysis, By Country
6.5. Climate Control
6.5.1. Key Market Trends, Growth Factors, And Opportunities
6.5.2. Market Size And Forecast, By Region
6.5.3. Market Analysis, By Country
6.6. Building Materials
6.6.1. Key Market Trends, Growth Factors, And Opportunities
6.6.2. Market Size And Forecast, By Region
6.6.2.1. Glass Greenhouse
6.6.2.2. Plastic Greenhouse
6.6.3. Market Analysis, By Country
6.7. Others
6.7.1. Key Market Trends, Growth Factors, And Opportunities
6.7.2. Market Size And Forecast, By Region
6.7.3. Market Analysis, By Country
Chapter 7: Vertical Farming Market, By Region
7.1. Overview
7.2. North America
7.2.1. Key Market Trends, Growth Factors, And Opportunities
7.2.2. Market Size And Forecast, By Structure
7.2.3. Market Size And Forecast, By Growth Mechanism
7.2.4. Market Size And Forecast, By Component
7.2.5. Market Analysis, By Country
7.2.5.1. U.S.
7.2.5.1.1. Market Size And Forecast, By Type
7.2.5.1.2. Market Size And Forecast, By Growth Mechanism
7.2.5.1.3. Market Size And Forecast, By Component
7.2.5.2. Canada
7.2.5.2.1. Market Size And Forecast, By Type
7.2.5.2.2. Market Size And Forecast, By Growth Mechanism
7.2.5.2.3. Market Size And Forecast, By Component
7.2.5.3. Mexico
7.2.5.3.1. Market Size And Forecast, By Type
7.2.5.3.2. Market Size And Forecast, By Growth Mechanism
7.2.5.3.3. Market Size And Forecast, By Component
7.3. Europe
7.3.1. Key Market Trends, Growth Factors, And Opportunities
7.3.2. Market Size And Forecast, By Structure
7.3.3. Market Size And Forecast, By Growth Mechanism
7.3.4. Market Size And Forecast, By Component
7.3.5. Market Analysis, By Country
7.3.5.1. UK
7.3.5.1.1. Market Size And Forecast, By Type
7.3.5.1.2. Market Size And Forecast, By Growth Mechanism
7.3.5.1.3. Market Size And Forecast, By Component
7.3.5.2. Germany
7.3.5.2.1. Market Size And Forecast, By Type
7.3.5.2.2. Market Size And Forecast, By Growth Mechanism
7.3.5.2.3. Market Size And Forecast, By Component
7.3.5.3. France
7.3.5.3.1. Market Size And Forecast, By Type
7.3.5.3.2. Market Size And Forecast, By Growth Mechanism
7.3.5.3.3. Market Size And Forecast, By Component
7.3.5.4. Netherlands
7.3.5.4.1. Market Size And Forecast, By Type
7.3.5.4.2. Market Size And Forecast, By Growth Mechanism
7.3.5.4.3. Market Size And Forecast, By Component
7.3.5.5. Rest of Europe
7.3.5.5.1. Market Size And Forecast, By Type
7.3.5.5.2. Market Size And Forecast, By Growth Mechanism
7.3.5.5.3. Market Size And Forecast, By Component
7.4. Asia-Pacific
7.4.1. Key Market Trends, Growth Factors, And Opportunities
7.4.2. Market Size And Forecast, By Structure
7.4.3. Market Size And Forecast, By Growth Mechanism
7.4.4. Market Size And Forecast, By Component
7.4.5. Market Analysis, By Country
7.4.5.1. China
7.4.5.1.1. Market Size And Forecast, By Type
7.4.5.1.2. Market Size And Forecast, By Growth Mechanism
7.4.5.1.3. Market Size And Forecast, By Component
7.4.5.2. India
7.4.5.2.1. Market Size And Forecast, By Type
7.4.5.2.2. Market Size And Forecast, By Growth Mechanism
7.4.5.2.3. Market Size And Forecast, By Component
7.4.5.3. Japan
7.4.5.3.1. Market Size And Forecast, By Type
7.4.5.3.2. Market Size And Forecast, By Growth Mechanism
7.4.5.3.3. Market Size And Forecast, By Component
7.4.5.4. Australia
7.4.5.4.1. Market Size And Forecast, By Type
7.4.5.4.2. Market Size And Forecast, By Growth Mechanism
7.4.5.4.3. Market Size And Forecast, By Component
7.4.5.5. Singapore
7.4.5.5.1. Market Size And Forecast, By Type
7.4.5.5.2. Market Size And Forecast, By Growth Mechanism
7.4.5.5.3. Market Size And Forecast, By Component
7.4.5.6. Rest of Asia-Pacific
7.4.5.6.1. Market Size And Forecast, By Type
7.4.5.6.2. Market Size And Forecast, By Growth Mechanism
7.4.5.6.3. Market Size And Forecast, By Component
7.5. LAMEA
7.5.1. Key Market Trends, Growth Factors, And Opportunities
7.5.2. Market Size And Forecast, By Structure
7.5.3. Market Size And Forecast, By Growth Mechanism
7.5.4. Market Size And Forecast, By Component
7.5.5. Market Analysis, By Country
7.5.5.1. Brazil
7.5.5.1.1. Market Size And Forecast, By Type
7.5.5.1.2. Market Size And Forecast, By Growth Mechanism
7.5.5.1.3. Market Size And Forecast, By Component
7.5.5.2. Saudi Arabia
7.5.5.2.1. Market Size And Forecast, By Type
7.5.5.2.2. Market Size And Forecast, By Growth Mechanism
7.5.5.2.3. Market Size And Forecast, By Component
7.5.5.3. South Africa
7.5.5.3.1. Market Size And Forecast, By Type
7.5.5.3.2. Market Size And Forecast, By Growth Mechanism
7.5.5.3.3. Market Size And Forecast, By Component
7.5.5.4. Rest of LAMEA
7.5.5.4.1. Market Size And Forecast, By Type
7.5.5.4.2. Market Size And Forecast, By Growth Mechanism
7.5.5.4.3. Market Size And Forecast, By Component
Chapter 8: Competitive Landscape
8.1. Introduction
8.2. Top Winning Strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
Chapter 9: Company Profile
9.1. 4D Bios Inc.
9.1.1. Company Overview
9.1.2. Company Snapshot
9.1.3. Product Portfolio
9.2. Aerofarms
9.2.1. Company Overview
9.2.2. Company Snapshot
9.2.3. Product Portfolio
9.2.4. Farms
9.2.5. Key Strategic Moves And Developments
9.3. Agrilution
9.3.1. Company Overview
9.3.2. Company Snapshot
9.3.3. Product Portfolio
9.4. Amhydro (American Hydroponics)
9.4.1. Company Overview
9.4.2. Company Snapshot
9.4.3. Product Portfolio
9.4.4. Key Strategic Moves And Developments
9.5. Everlight Electronics Co., Ltd.
9.5.1. Company Overview
9.5.2. Company Snapshot
9.5.3. Product Portfolio
9.5.4. R&D Expenditure
9.5.5. Business Performance
9.6. Hort Americas
9.6.1. Company Overview
9.6.2. Company Snapshot
9.6.3. Product Portfolio
9.6.4. Key Strategic Moves And Developments
9.7. Illumitex Inc.
9.7.1. Company Overview
9.7.2. Company Snapshot
9.7.3. Product Portfolio
9.7.4. Key Strategic Moves And Developments
9.8. Koninklijke Philips N.V.
9.8.1. Company Overview
9.8.2. Company Snapshot
9.8.3. Operating Business Segments
9.8.4. Product Portfolio
9.8.5. R&D Expenditure
9.8.6. Business Performance
9.8.7. Key Strategic Moves And Developments
9.9. Urban Crop Solutions
9.9.1. Company Overview
9.9.2. Company Snapshot
9.9.3. Product Portfolio
9.9.4. Key Strategic Moves And Developments
9.10. Sky Greens
9.10.1. Company Overview
9.10.2. Company Snapshot
9.10.3. Product Portfolio
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • 4D Bios Inc.
  • Aerofarms
  • Agrilution
  • Hort Americas
  • Illumitex Inc.
  • Koninklijke Philips N.V.
According to the report titled, 'Vertical Farming Market by Component, Structure, and Growth Mechanism: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global vertical farming market size was valued at $2.23 billion in 2018, and is projected to reach $12.77 billion by 2026, growing at a CAGR of 24.6% from 2019 to 2026. The hydroponics segment contributed nearly 40% of the share in 2018.

Continuous rise in population and increase in urbanization globally have increased the requirement of food, and food security has gained importance for the governments globally. The traditional farming is exhaustive, both in terms of available arable land and volume of production. Vertical farming is an improved substitute for traditional farming, which produces more yield, with no need for land, pesticides, and other chemicals. This method of farming has gained popularity in the recent years with decline in water level and problem of drought becoming severe. Vertical farming is expected to become an enhanced substitute of traditional farming, as it produces 70% more crop and uses almost 90% less water as compared to the traditional farming.

Increase in popularity of organic foods, rise in urban population, and limited arable land for traditional agriculture are the major factors that drive the growth of the vertical farming market. Furthermore, optimum use of vertical space, balanced energy utilization, and ease of crop monitoring & harvesting fuel the growth of the vertical farming industry. However, requirement of high initial investment to set up a vertical farm and technologies used to be in developmental phase restrain the market growth. Furthermore, all crops cannot be grown by this method, and is limited to crops such as tomatoes, lettuces, and green crops, thus hampering the growth of the market. Decline in water level and increase in government initiatives to promote vertical farming globally are anticipated to provide new opportunities for the vertical farming market growth.

In 2018, hydroponics vertical farming contributed over 40% share in the vertical farming market, and is expected to maintain its dominant position throughout the analysis period, owing to its capability to produce more nutritious eatables in less space consumption. Moreover, this growth mechanism uses 10 times less water than conventional farming.

Moreover, Asia-Pacific is the major revenue contributor, owing to the government initiatives and cooperation from private companies. The market growth in the region is attributed to factors such as alarming rate of water level depletion, presence of drought-stricken areas, and increase in environmental concerns.

Lighting component segment dominated with over 26% share in 2018. Lighting devices are an essential component of vertical farming, as they facilitate growth of plants by acting as a substitute to sunlight. These devices use an LED lighting system that produces dual band color spectrum at the same time, and maintains efficiency and low heat dissipation. Lighting systems provide photosynthetic wavelengths in accordance to crop growth, thereby maximizing the crop yield and ensuring minimum power consumption. Thus, farmers opt for LED lighting systems over other lighting technology for vertical farming.

According to Ankit Prajapati, Lead Analyst, Semiconductor and Electronics, “In terms of revenue, vertical farming market is growing at an unprecedented rate, and is projected to sustain in the coming years. This is attributed to decline in water levels, rise in urban population, and increase in demand of organic food globally.”

Key Findings of the Vertical Farming Market :

In terms of revenue, lighting component contributed the maximum market share in 2018, and is expected to maintain its lead throughout the forecast period.
Aeroponics is expected to grow at the highest CAGR during the forecast period.
In 2018, the hydroponics growth mechanism segment held nearly two-fifths of vertical farming market share, which was the highest among all the growth mechanisms.
In 2018, Asia-Pacific accounted for over 48% share globally, and is expected to dominate the vertical farming market in the future.
Based on region, the global vertical farming market trends are analyzed across North America Europe, Asia-Pacific, and LAMEA. In 2018, in terms of revenue, Asia-Pacific accounted for nearly half of the vertical farming market, and is expected to retain its dominant position, owing to the presence of well-established vertical farming companies, government initiatives, and rise in demand for organic food.

The major companies profiled in the report include 4D Bios Inc., Aerofarms, Agrilution, AMHYDRO (American Hydroponics), Everlight Electronics Co., Ltd., Hort Americas, Illumitex Inc., Koninklijke Philips N.V., Urban Crop Solutions, Sky Greens, and others.
Note: Product cover images may vary from those shown
  • 4D Bios Inc.
  • Aerofarms
  • Agrilution
  • AMHYDRO (American Hydroponics)
  • Everlight Electronics Co. Ltd
  • Hort Americas
  • Illumitex Inc.
  • Koninklijke Philips N.V.
  • Urban Crop Solutions
  • Sky Greens.
Note: Product cover images may vary from those shown

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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