The global vertical farming market size is expected to reach USD USD 24.95 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 20.1% from 2023 to 2030. Increased use of Internet of Things (IoT) sensors for producing crops is likely to spur market demand over the forecast period. Information obtained from the sensors is stored on the cloud and analyzed to perform the required actions. The growing automation in agriculture and increasing use of big data and predictive analytics for maximizing yields are also likely to drive the market.
Vertical Farming Market Report Highlights
· The escalating production of biopharmaceutical products is anticipated to drive the market
· The shipping container segment accounted for the largest market share in 2022. Shipping container-based farming uses less water than traditional farming with drip irrigation. Shipping containers can be easily stacked, modified, recycled, and refurbished at a lower cost. Additionally, the excess availability of unused shipping containers across the region will likely influence segment growth over the forecast period
· The hardware segment accounted the largest market share in 2022. The hardware plays a significant role in maintaining the environment of the indoor farms. The segment is further categorized into climate control systems, lighting systems, sensors, and irrigation systems, which enables the cultivation of indoor-grown crops
· The fruits vegetables, & herbs segment is also expected to have considerable growth over the forecast period. The increasing cultivation of commonly grown fruits and vegetables in greenhouses is driving the segment growth. Crops grown in vertical farming provide maximum profit to companies involved in their cultivation
· Based on offering, the climate control segment is expected to witness high growth over the forecast period as the growth of crops can be controlled by monitoring and adjusting the concentrations of minerals
· By growing mechanism, the aeroponics segment is expected to observe considerable growth over the forecast period as the aeroponics facilitate fast growth in plants (under normal conditions)
· The North American regional market is expected to witness significant growth over the forecast period owing to the expansion of small-scale, commercial vertical farms
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Vertical farming is effective in ensuring stability in crop production and maintaining reliability even in adverse climatic conditions. It provides multiple benefits over the traditional farming technique, such as less use of water, the lesser need for agrochemicals, and low dependence on agricultural labor. Vertical farming makes use of metal reflectors and artificial lighting to maximize natural sunlight.
Genetically modified organisms and the environmental and health effects of pesticides and other non-natural substances that are used for increasing agricultural production have encouraged consumers to adopt organic foods. According to the Organic Trade Association, the U.S. organic industry sales increased by around 5% in 2019 owing to the increased investment in infrastructure and education. As per the Organic Foods Production Act of 1990, the handlers and growers of organic products need to comply with the regulations.
Artificial lighting helps in extending the hours of natural daylight, which further increases the health, growth rate, and yield of the plants. Artificial lighting such as high-pressure sodium lighting and LED lighting can extend the availability of crops (throughout a season). LED lighting systems produce a dual-band color spectrum and generate low heat. They are anticipated to witness significant growth over the forecast period.
A hydroponic system is a method of growing plants without soil. A hydroponic system eliminates the need for pesticides and artificial ripening agents and helps in producing nutritionally-rich vegetables. However, factors such as high initial investment and fewer crop varieties are likely to restrain the market growth.
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We segmented the global vertical farming market report based on structure, growing mechanism, crop category and region
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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Vertical farming market is performed in indoor conditions where vertically stacked trays are used to grow plants with the help of artificial lighting.
This is being utilized for manufacturing various crop such as latus, cabbage and other leafy vegetables effectively.
Vertical farming is considered to be the more sustainable and revolutionary method of agriculture than traditional agriculture and greenhouse farming.
It requires very less water and saves considerable soil and space.
This farming method is useful in challenging environments such as cities, mountainside towns and deserts.Download Sample Copy of vertical farming market Report At https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-vertical-farming-marketGlobal vertical farming market is projected to register healthy CAGR of 23.5% in the forecast period of 2019 to 2028.The vertical farming market report puts forth a range of segments linked to vertical farming industry and market with comprehensive research and analysis.
These involve industry outlook with respect to critical success factors (CSFs), industry dynamics that primarily covers drivers and restraints, market segmentation & value chain analysis, key opportunities, application and technology outlook, regional or geographical insight, country-level analysis.
Vertical farming market is performed in indoor conditions where vertically stacked trays are used to grow plants with the help of artificial lighting.
This is being utilized for manufacturing various crop such as latus, cabbage and other leafy vegetables effectively.
It requires very less water and saves considerable soil and space.
This farming method is useful in challenging environments such as cities, mountainside towns and deserts.Global vertical farming market is projected to register healthy CAGR of 23.5% in the forecast period of 2019 to 2026.According to the market study of Vertical farming market report, new highs are possible in the Vertical farming market for the year 2018-2025.
These strategies include new product launches, expansions, agreements, joint ventures, partnerships, and acquisitions.
By knowing the marketing strategies of rivals, businesses can decide upon innovative ideas and striking sales targets.
Vertical farming market is performed in indoor conditions where vertically stacked trays are used to grow plants with the help of artificial lighting.
This is being utilized for manufacturing various crop such as latus, cabbage and other leafy vegetables effectively.
Vertical farming is considered to be the more sustainable and revolutionary method of agriculture than traditional agriculture and greenhouse farming.
It requires very less water and saves considerable soil and space.
This farming method is useful in challenging environments such as cities, mountainside towns and deserts.Global vertical farming market is projected to register healthy CAGR of 23.5% in the forecast period of 2019 to 2026.The vertical farming market report puts forth a range of segments linked to vertical farming industry and market with comprehensive research and analysis.
These involve industry outlook with respect to critical success factors (CSFs), industry dynamics that primarily covers drivers and restraints, market segmentation & value chain analysis, key opportunities, application and technology outlook, regional or geographical insight, country-level analysis.
Middle East and Africa Vertical Farming Market is a method of processing food such as in a skyscraper, used factory or shipping container done in vertically stacked layers.X`Indoor farming methods and controlled-environment agriculture (CEA) technologies are used for modern vertical farming concepts where all environmental conditions can be controlled.Pollution has major economic consequences in terms of health, lack of productivity, health care costs and disruption to the environment, hence, the growing concerns regarding pollution free environment is driving the growth of the vertical farming market.
The limited variety of crops involved in vertical farming lead to economic feasibility which hinders the growth of the vertical farming market.
The rising maintenance of air circulation in vertical farming is acting as a major challenge for the vertical farming market.The vertical farming market is expected to gain market growth in the forecast period of 2021 to 2028.
This Middle East and Africa Vertical Farming Market report provides major statistics on the market status of global and regional manufacturers and is a helpful source of assistance and direction for companies and individuals interested in Healthcare industry.
The company profiles of all the chief and dominating market players and brands who are taking steps such as product launches, joint ventures, mergers and acquisitions are mentioned in the report.Get Sample PDF (including COVID19 Impact Analysis) of Market Report @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=middle-east-and-africa-vertical-farming-marketMarket Drivers and Restraints:On the basis of growth mechanism, the vertical farming market is segmented into hydroponics, aeroponics and aquaponics.
In 2021, hydroponics segment is dominating in the vertical farming market because it is widely used in vertical farming as it involves growing plants in nutrient solutions that are free of soil.On the basis of structure, the vertical farming market is segmented into shipping containers and building based.
Vertical farming market is performed in indoor conditions where vertically stacked trays are used to grow plants with the help of artificial lighting.
Vertical farming is considered to be the more sustainable and revolutionary method of agriculture than traditional agriculture and greenhouse farming.
It requires very less water and saves considerable soil and space.
This farming method is useful in challenging environments such as cities, mountainside towns and deserts.Global vertical farming market is projected to register healthy CAGR of 23.5% in the forecast period of 2019 to 2026.According to the market study of Vertical Farming Market report, new highs are possible in the Vertical Farming Market Market for the year 2018-2025.
Competitive analysis section in the report covers the strategies used by the major competitors in the market that perks up their penetration in the market.
This report gives estimations of Compound Annual Growth Rate (CAGR) in % value for the forecasted period that will assist client to take decision based on futuristic chart.
The Global Vertical Farming Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.Vertical farming is a modern cultivation practice of growing plants in a closed environment on vertical surfaces or skyscraper greenhouses.
This practice uses artificial lighting and metal reflectors in replacement to natural sunlight.
The use of pesticides and poor weather conditions have low detrimental impact in vertical farming.
These plants are produced in specific quality and quantity, having control over its cost and sales prices.Robot technology in vertical farming meets the hygiene and safety norms and dismiss human efforts.
Technologies used in vertical farming are greenhouse, the folkewall and other vertical growing architectures, aeroponics / hydroponics / aquaponics, composting, grow light, phytoremediation, skyscraper and controlled-environment agriculture.Consistency and ability to grow vegetables 24 hours a day, maintenance of freshness and hygiene in crops, depleting agricultural land and demand for organic crops are the driving forces behind the growth of vertical farming.Final Report will cover the impact of COVID-19 on this industry.Browse the complete Global Vertical Farming Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 @ https://www.decisiondatabases.com/ip/369-vertical-farming-market-reportThe report also covers the complete competitive landscape of the worldwide market with company profiles of key players such as:Spread Co.GranpaIwasaki ElectricNihon Advanced Agri CorporationPacific GroupRyobi HoldingsPhilips Horticulture LampsEverlight ElectronicsSEGMENTATIONS IN REPORT:Vertical Farming By Technology:HydroponicsAerophonicsAquaponicsVertical Farming By LED Lighting:RedBlueVertical Farming By LED Grow Light Module:Large Warehouse Plant FactoriesHome And RestaurantVertical Farming By Geography:Asia PacificNorth AmericaEuropeLatin AmericaMiddle East And AfricaDownload Free Sample Report of Global Vertical Farming Market @ https://www.decisiondatabases.com/contact/download-sample-369The Global Vertical Farming Market has been exhibited in detail in the following chapters –Chapter 1 Vertical Farming Market PrefaceChapter 2 Executive SummaryChapter 3 Vertical Farming Industry AnalysisChapter 4 Vertical Farming Market Value Chain AnalysisChapter 5 Vertical Farming Market Analysis By TechnologyChapter 6 Vertical Farming Market Analysis By LED LightingChapter 7 Vertical Farming Market Analysis By LED Grow Light ModuleChapter 8 Vertical Farming Market Analysis By GeographyChapter 9 Competitive Landscape Of Vertical Farming CompaniesChapter 10 Company Profiles Of Vertical Farming IndustryPurchase the complete Global Vertical Farming Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-369Other Reports by DecisionDatabases.com:Global Farm Management Software Market Research Report – Industry Analysis, Size, Share, Growth, Trends And ForecastGlobal Precision Farming Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Farm Equipment Market Research Report – Industry Analysis, Size, Share, Growth, Trends And ForecastAbout-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
