The value of vertical farming market to cross $13000 million by 2024

Asia Pacific vertical farming market shows 30% growth rate and is expected to be the largest region dominating the industry share by the end of the forecast period.

Equipment holds largest share of about 38% in product segment of vertical farming market. This segment includes equipment such as lightning systems, pumps & irrigation systems, sensors, tanks, meters, etc. All of these are necessary to support crop growth, provide controlled environment and for farms monitoring. Fruits, vegetables & herbs shows the around 33% CAGR from 2017 to 2024. This segment includes tomatoes, lettuce, bell & chili peppers, strawberry, etc.

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On technology basis, vertical farming market is bifurcated into hydroponics, aeroponics and aquaponics. Aeroponics shows CAGR of around 28.5% over the forecast timespan as this technique helps in growing plants in an air/mist environment without soil and minimal water. It is gradually gaining momentum as it is among one the most suited ways for vertical farming by utilizing 90% less water than the hydroponic system.

Based on application, the vertical farming market is segmented into indoor and outdoor vertical farms. Indoor vertical farming is extensively practiced in parking, warehouses, shipping containers, controlled environment agriculture (CEA), etc. It plays a vital role in meeting the rising food demand, primarily in the emerging economies, as indoor vertical farming applications help produce 75 times more food per square foot as compared to the traditional farming.

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On regional basis, Asia Pacific shows the 30% growth rate and is expected to be the largest vertical farming market by the end of the forecast period. According to a report by the UN, in Asian cities with more than or equal to 500,000 inhabitants are projected to increase by 30% by the end of 2030.

The foremost players in vertical farming market are Plantagon International, American Hydroponics, Sky Greens, Mirai, Urban Crop Solutions, Koninklijke Philips N.V, Green Spirits Farms, Spread Co., etc. There are many equipment manufacturers present in market such as Illumitex, Inc., Everlight Electronics Co. Ltd., etc.

Browse key industry insights spread across 270 pages with 217 market data tables & 34 figures & charts from the report, “Vertical Farming Market Size By Product (Equipment [Lighting Systems, Pumps & Irrigation Systems, Tanks, Sensors, Pipes, Climate Controllers, Meters & Solutions], Fruits, Vegetables & Herbs [Tomato, Lettuce, Bell & Chili Peppers, Strawberry, Cucumber, Leafy Greens, Herbs], Aquatic Species [Tilapia, Bass, Trout, Salmon, Crab]), By Technology (Hydroponics, Aeroponics, Aquaponics), By Application (Indoor, Outdoor), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Netherlands, Belgium China, India, Japan, South Korea, Brazil, Mexico, Argentina, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018–2024” in detail along with the table of contents:

Table of Contents (ToC) of the report:
Chapter 3. Vertical Farming Market Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distribution channel analysis
3.4. Innovation & sustainability
3.4.1. Patent analysis
3.4.2. Technology landscape
3.5. Industry impact forces
3.5.1. Growth drivers Soaring population levels leading to imbalances in food demand and supply Scarcity of farming land: A major natural resource Stabilized crop production irrespective of climatic changes Conservation and recycling of natural resources
3.5.2. Industry pitfalls & challenges Higher initial investments Lack of technical acumen Limitations on the variety of crops grown High energy consumption (light, air conditioning)
3.6. Regulatory landscape
3.6.1. U.S.
3.6.2. Europe
3.6.3. China
3.7. Growth potential analysis
3.8. Competitive landscape, 2017
3.8.1. Company market share, 2017
3.8.2. Strategy dashboard
3.9. Porter’s analysis
3.9.1. Supplier power
3.9.2. Buyer power
3.9.3. Threat of new entrants
3.9.4. Threat of substitutes
3.9.5. Industry rivalry
3.10. Regional price trends
3.10.1. Cost structure analysis R&D cost Manufacturing & equipment cost Raw material cost Distribution cost Operating cost Miscellaneous cost
3.10.2. Price by product
3.10.3. Price by technology
3.10.4. Price by application
3.11. PESTEL analysis
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