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Global Vertical Farming Market: By Growth Mechanism: Hydroponics, Aeroponics, Aquaponics; By Structure: Building-Based, Shipping-Container; By Component: Lighting, Others; By Crop Type; By Application; Regional Analysis; Historical Market and Forecast (2016-2026); Competitive Landscape; Industry Events and Developments

Global Vertical Farming Market Outlook

The global vertical farming market reached a value of about USD 3.1 billion in 2020. The industry is further expected to grow at a CAGR of about 21% in the forecast period of 2021-2026 to reach a value of around USD 10.3 billion by 2026.

 

North America to be One of the Leading Regions in the Vertical Farming Industry

North America is one of the leading regions for global the vertical farming industry, with the United States dominating the regional market. The factors attributing to the growth in the region include rising awareness about food security and the importance of nutrition. The United States, which is one of the pioneering regions in adopting the concept of vertical farming, is expected to invest significantly in the industry for facilitating the ecosystem for future foods. Moreover, with the robust demand for organic or 'fresh from farm to table' foods among consumers, the demand for vertical farming is constantly rising.

 

Vertical Farming: Industry Definition and Segmentation

Vertical farming is a form of cultivation of different types of goods in vertically arranged layers, in unused vertical warehouses, skyscrapers, containers, etc. This process enables the profitability of many businesses to fulfil their Corporate Social Responsibility (CSR) through sustainable agricultural practises. Other advantages of vertical farming technology include the use of controlled-environmental agriculture technology and indoor farming techniques, where all environmental factors for crop production can be controlled.

Based on growth mechanism, the industry can be segmented as follows:

  • Hydroponics
  • Aeroponics
  • Aquaponics

On the basis of structure, the market can be divided into the following:

  • Building-Based
  • Shipping-Container

The components can be divided as follows:

  • Lighting
  • Irrigation and Fertigation System
  • Climate Control
  • Sensors
  • Others

Based on crop type, the industry can be segmented as follows:

It finds wide applications in the following:

  • Indoor
  • Outdoor

The regional markets for vertical farming can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Rising Demand for Organic Food Bolstering the Market Growth

The demand for vertical farming is expected to grow rapidly during the forecast period due to an increase in the popularity of organic food. The vertically stacked structure of these farms decreases the need for additional construction and property. It also reduces the role of machines during traditional farming. Optimal use of vertical space and reasonable energy use contribute to the development of the vertical agricultural industry. In addition, these facilities include several artificial plant growth technologies. The technologies used in this agriculture allow us to keep track of the growth and harvesting of plants, which further drives the growth of the vertical farming industry.

 

Key Industry Players in the Global Vertical Farming Market

The report gives a detailed analysis of the following key players in the global vertical farming market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • AeroFarms LLC
  • Green Sense Farms Holdings, Inc.
  • 4D Bios, Inc.
  • Plenty Unlimited Inc.
  • Gotham Greens Holdings, LLC
  • Crop One
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Vertical Farming Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Vertical Farming Historical Market (2016-2020) 
    8.3    Global Vertical Farming Market Forecast (2021-2026)
    8.4    Global Vertical Farming Market by Growth Mechanism
        8.4.1    Hydroponics
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Aeroponics
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    Aquaponics
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
    8.5    Global Vertical Farming Market by Structure
        8.5.1    Building-Based
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Shipping-Container
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
    8.6    Global Vertical Farming Market by Component
        8.6.1    Lighting
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Irrigation and Fertigation System
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
        8.6.3    Climate Control
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2016-2020)
            8.6.3.3    Forecast Trend (2021-2026)
        8.6.4    Sensors
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2016-2020)
            8.6.4.3    Forecast Trend (2021-2026)
        8.6.5    Others
    8.7    Global Vertical Farming Market by Crop Type
        8.7.1    Vegetables
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    Fruits
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
        8.7.3    Herbs
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2016-2020)
            8.7.3.3    Forecast Trend (2021-2026)
        8.7.4    Others
    8.8    Global Vertical Farming Market by Application
        8.8.1    Indoor
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2016-2020)
            8.8.1.3    Forecast Trend (2021-2026)
        8.8.2    Outdoor
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2016-2020)
            8.8.2.3    Forecast Trend (2021-2026)
    8.9    Global Vertical Farming Market by Region
        8.9.1    Market Share
            8.9.1.1    North America
            8.9.1.2    Europe
            8.9.1.3    Asia Pacific
            8.9.1.4    Latin America
            8.9.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    AeroFarms LLC
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Green Sense Farms Holdings, Inc.
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    4D Bios, Inc.
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Plenty Unlimited Inc.
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Gotham Greens Holdings, LLC
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Crop One
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Others
13    Industry Events and Developments


Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operations Involved
2    Project Requirements and Cost Analysis
    2.1    Land, Location, and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Raw Materials
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investments


List of Figures and Tables

1.    Global Vertical Farming Market: Key Industry Highlights, 2016 and 2026
2.    Global Vertical Farming Historical Market: Breakup by Growth Mechanism (USD Billion), 2016-2020
3.    Global Vertical Farming Market Forecast: Breakup by Growth Mechanism (USD Billion), 2021-2026
4.    Global Vertical Farming Historical Market: Breakup by Structure (USD Billion), 2016-2020
5.    Global Vertical Farming Market Forecast: Breakup by Structure (USD Billion), 2021-2026
6.    Global Vertical Farming Historical Market: Breakup by Component (USD Billion), 2016-2020
7.    Global Vertical Farming Market Forecast: Breakup by Component (USD Billion), 2021-2026
8.    Global Vertical Farming Historical Market: Breakup by Crop Type (USD Billion), 2016-2020
9.    Global Vertical Farming Market Forecast: Breakup by Crop Type (USD Billion), 2021-2026
10.    Global Vertical Farming Historical Market: Breakup by Application (USD Billion), 2016-2020
11.    Global Vertical Farming Market Forecast: Breakup by Application (USD Billion), 2021-2026
12.    Global Vertical Farming Historical Market: Breakup by Region (USD Billion), 2016-2020
13.    Global Vertical Farming Market Forecast: Breakup by Region (USD Billion), 2021-2026
14.    North America Vertical Farming Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    North America Vertical Farming Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Europe Vertical Farming Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Europe Vertical Farming Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Asia Pacific Vertical Farming Historical Market: Breakup by Country (USD Billion), 2016-2020
19.    Asia Pacific Vertical Farming Market Forecast: Breakup by Country (USD Billion), 2021-2026
20.    Latin America Vertical Farming Historical Market: Breakup by Country (USD Billion), 2016-2020
21.    Latin America Vertical Farming Market Forecast: Breakup by Country (USD Billion), 2021-2026
22.    Middle East and Africa Vertical Farming Historical Market: Breakup by Country (USD Billion), 2016-2020
23.    Middle East and Africa Vertical Farming Market Forecast: Breakup by Country (USD Billion), 2021-2026
24.    Global Vertical Farming Market Structure

Key Questions Answered in the Report

In 2020, the global vertical farming market attained a value of nearly USD 3.1 billion.

The market is projected to grow at a CAGR of 21% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 10.3 billion by 2026.

The growth of the market is being driven by factors like rising population, growing disposable income, rising demand for sustainable farming methods, increasing demand for nutrition and organic food.

Optimal use of vertical space and reasonable energy use acts as an important industry trend.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major growth mechanisms of vertical farming in the market are hydroponics, aeroponics, and aquaponics.

The leading structures of vertical farming in the industry are building-based and shipping-container.

The significant components of vertical farming in the market are lighting, irrigation and fertigation system, climate control, and sensors, among others.

The major crop types in the industry are vegetables, fruits, and herbs, among others.

The leading application segments in the market are indoor and outdoor.

The major players in the industry are AeroFarms LLC, Green Sense Farms Holdings, Inc., 4D Bios, Inc., Plenty Unlimited Inc., Gotham Greens Holdings, LLC, and Crop One, among others.

Analyst Review

The global vertical farming market attained a value of USD 3.1 billion in 2020, driven by the rising demand for nutrition and organic food. Aided by the growing demand for sustainable farming methods, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 21%. The market is projected to reach USD 10.3 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of growth mechanism, the market is divided into hydroponics, aeroponics, and aquaponics. Based on structure, the market is bifurcated into building-based and shipping-container. By components, the industry can be segmented into lighting, irrigation and fertigation system, climate control, and sensors, among others. On the basis of crop type, the market is categorised into vegetables, fruits, and herbs, among others. Based on application, the market is bifurcated into indoor and outdoor. The major regional markets for vertical farming are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include AeroFarms LLC, Green Sense Farms Holdings, Inc., 4D Bios, Inc., Plenty Unlimited Inc., Gotham Greens Holdings, LLC, and Crop One, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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