The global market for Vertical Farming estimated at US$2.7 Billion in the year 2020, is projected to reach a revised size of US$5.8 Billion by 2026, growing at a CAGR of 14% over the analysis period.
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Lighting, one of the segments analyzed in the report, is projected to grow at a 13.9% CAGR to reach US$2.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hydroponic Components segment is readjusted to a revised 13.6% CAGR for the next 7-year period. This segment currently accounts for a 20.3% share of the global Vertical Farming market.
The U.S. Market is Estimated at $779.3 Million in 2021, While China is Forecast to Reach $888 Million by 2026
The Vertical Farming market in the U.S. is estimated at US$779.3 Million in the year 2021. The country currently accounts for a 26.94% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$888 Million in the year 2026 trailing a CAGR of 16.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.9% and 12.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.5% CAGR while Rest of European market (as defined in the study) will reach US$1 Billion by the close of the analysis period.
Select Competitors (Total 70 Featured) –
- 4D Bios, Inc.
- AeroFarms LLC
- Agrilution Systems GmbH
- AMHYDRO (American Hydroponics)
- Everlight Electronics Co., Ltd.
- Freight Farms
- General Hydroponics, Inc.
- Heliospectra AB
- FarmVisionAI
- Mirai Co., Ltd.
- Osram Licht AG
- Plenty Unlimited, Inc.
- Signify Holding
- Sky Greens
- Spread Co., Ltd.
- Urban Crop Solutions
- Valoya Ltd
Key Topics Covered:
I. METHODOLOGY
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II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 Pandemic and Looming Global Recession
- Vertical Farming: Turning COVID-19 Crisis into Opportunity to Satiate Changing Food Demand
- Consumer Preference for Healthy, Locally Grown Greens amid COVID-19 Benefits Vertical Farming
- Vertical Farming Emerges as Viable, Sustainable Option for Future Food Security
- Vertical Farming Draws Particular Appeal amid COVID-19 Pandemic
- An Introduction to Vertical Farming
- Global Market Prospects & Outlook
- Hydroponics: The Largest Segment
- Shipping Containers Segment Leads Vertical Farming Market
- Developing Economies to Witness High Adoption of Vertical Farming
- Competition
- Companies Invest in Vertical Farm Facilities
- Vertical Farming Players Join Fight against COVID-19 Virus
- World Brands
- Recent Market Activity
- Vertical Farming – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Significant Benefits of Vertical Farming Technique Compared to Traditional Farming Methods Augurs Well for the Market
- Optimum Usage of Vertical Space & Energy Usage and Easy Monitoring & Harvesting of Crops: Key Benefits Driving Adoption
- Vertical Farming: A Solution to Solve Hunger in Future
- Expanding Global Population and Demand Supply Imbalance Drive Focus onto Vertical Farming
- World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
- Food Demand Growth Worldwide: Demand Growth in Million Tonnes for Select Foods for the Period 2008-2017 and 2018-2027
- Shortage of Arable Land and Limited Food Production Necessitate Alternate Farming Techniques, Driving Market Prospects
- Global Availability of Arable Land in Hectares Per Person for the Years 1990, 2000, 2018 and 2020
- Arable Land Worldwide as a % of Total Land Area for the Years 1990, 2000, 2018 and 2020
- Climate Change Concerns and Need for Stabilized Crop Production Turn Attention onto Vertical Farming
- Average Global Surface Temperature (In Degrees Fahrenheit) for the Years 1940, 2000 and 2020
- Rising Popularity of Organic Foods Drives Investments into Vertical Farming
- Global Organic Foods Market Size (in $ Billion) for the Years 2019, 2021, 2023 and 2025
- Reducing Operating Costs Becomes Imperative to Enhance Economic Viability of Vertical Farming
- Advancements in Gardening & Farming Technologies Propel Market Growth
- Vertical Farming Innovations to Revolutionize Agriculture
- Hydroponics: Soilless Cultivation
- Aeroponics: Soilless and Water-Efficient Cultivation
- Aquaponics: Symbiotic Closed-Cycle Plant and Fish Ecosystem
- Lokal: Ideal for Indoor Farming
- AeroFarms: An Ingenious and Innovative Vertical Farming Technology
- Plantscapers: A Food Building to Feed the Occupants
- VertiCrop: Sustainable Farming for High-Density Urban Areas
- Modular Farms: Fresh Produce From Virtually Anywhere in Any Climate
- Cubic Farming Systems: Sustainable and Automated Next-Gen Farming
- ZipGrow: Modern Farmers’ Farming Solution
- Bowery: World’s Most Advanced Commercial Indoor Farming Company
- Skyfarm: Vertical Farming Tower Powered by Wind
- Sky Greens: Hydraulic-Driven World’s First Commercial Vertical Farm
- Automation and Data-Driven Techniques to Transform Vertical Farming Market
- Advancements in Agricultural Practices Drive Growth in Vertical Farming Market
- Rising Significance of Automation, AI & Robots for Vertical Farming
- LED Grows as the Preferred Medium of Lighting in Vertical Farming
- Advancements In Light-Emitting Diode (LED) Technology Drive Vertical Farming Market
- Opportunity Emerges from Vertical Farming of Cannabis
- Limited Varieties of Cultivable Crops through Vertical Farming Restrains Market
- Challenges Confronting Vertical Farming Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/3p8zgc
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