DUBLIN–(BUSINESS WIRE)–The “Vertical Farming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global vertical farming market reached a value of US$ 3.66 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 13.98 Billion by 2027, exhibiting a CAGR of 25.03% during 2021-2027.
Companies Mentioned
- AeroFarms
- Agrilution Systems GmbH
- AmHydro
- Everlight Electronics Co. Ltd.
- Freight Farms Inc.
- Gronska Stadsodling
- Heliospectra AB
- Jones Food Company Limited
- Koninklijke Philips N.V.
- OSRAM GmbH (ams-OSRAM AG)
- Signify N.V.
- Urban Crop Solutions
- Vertical Farm Systems Pty Ltd
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Vertical farming refers to an innovative farming technique that involves growing food and medicinal plants in vertically stacked layers. It is adopted for producing crops with artificial control of light, temperature, humidity and gases. Vertical farming utilizes a combination of methods involving hydroponics, aeroponics and aquaponics to grow crops without soil using mineral nutrient solutions, such as peat moss and coconut husk, or aquatic animals, such as snail, fish and prawns.
It is highly beneficial for crop cultivation on arid lands, mountains, unfertile lands, indoors and rooftops of the buildings. In comparison to the traditional farming practices, vertical farming is sustainable and has lower water and energy requirements.
A rapid increase in the global population, along with rising scarcity of arable land, is one of the key factors driving the growth of the market. Moreover, an escalating requirement for stabilized crop production to meet the rising food demands is providing a thrust to the market growth.
In line with this, the legalization of cannabis cultivation for medical and recreational purposes is also contributing to the growth of the market.
Various technological advancements in light-emitting diode (LED) technology and the integration of the Internet of Things (IoT)-enabled sensors and monitoring devices are acting as other growth-inducing factors. These novel LED top-lighting and inter-lighting solutions aid in reducing the farming costs and increasing the overall yield.
Other factors, including the rising expenditure capacities of the consumers, along with the implementation of favorable government policies, are anticipated to drive the market toward growth.
Key Questions Answered in This Report:
- How has the global vertical farming market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global vertical farming market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the structure?
- What is the breakup of the market based on the growth mechanism?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global vertical farming market and who are the key players?
- What is the degree of competition in the industry?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Vertical Farming Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
7 Market Breakup by Structure
8 Market Breakup by Growth Mechanism
9 Market Breakup by Application
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/aljl7r
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