Vertical Farming Systems Market - Global Forecast to 2025
This report analyzes the vertical farming systems market, in terms of type, structure, crop type, input, equipment & technology, and region.
The growing global population complemented by the reducing arable land area for crop cultivation, has urged the adoption of vertical farming techniques, majorly for horticultural and floricultural crops. Advances in vertical farming techniques, such as emergence of hydroponics and aeroponics in the last decade, has pushed the growth opportunities for vertical farming systems, and hence, the CAGR for this market between 2019 and 2025 is projected to be 30%. Amongst the varied systems operated in vertical farming, the growth potential for hydroponics systems is forecasted to be the highest, owing to the highest yield and thereby the increased adoption amongst horticulturists towards these systems. Introduction of advanced air purification and control systems such as HVAC, and artificial lighting options such as LED lights in the hydroponics industry, has further boosted the growth opportunities for vertical farming systems market.
Europe is projected to grow at the highest rate during the forecast period, with numerous ongoing developments and a large number of small and large vertical farms already operating in the region. European Union has been planning expansion strategies to increase the adoption of vertical farms. For instance, European Environment Agency (EEA) had initiated the construction of vertical farms to overcome challenges, such as climatic change, continuous population growth, and producing food in a more environment-friendly way, in 2016.
The major driving factors for the vertical farming systems market are high quality of food with low environmental impact and with no use of pesticides, no crop failures related to weather, methods conducive to environment, increasing urban population, and growth in annual crop production. Also, many companies and governments are trying to develop new processes or products which would help improve the productivity, to achieve the overall growth of the vertical farming systems market.
The geographical split was determined using secondary sources and verified through primary respondents. Demand in different regions was considered while estimating the market share of the different regions in the vertical farming systems market. The market estimation was also based on various parameters, such as the number of players, demand trends, supply trends, and the extent of research activity in a particular region.
Table of Contents
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Years Considered
1.4 Currency Considered
1.5 Units Considered
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumption
2.4.1 Assumptions
2.4.2 Limitations
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1 Introduction
5.2 Macroindicators
5.3 Market Dynamics
5.3.1 Drivers
5.3.2 Restraints
5.3.3 Opportunities
5.3.4 Challenges
5.4 Regulatory Framework
5.5 Patent Analysis
5.6 Value Chain Analysis
6 Vertical Farming Systems Market, By Type
6.1 Introduction
6.2 Soil-Based
6.3 Soil-Less
6.3.1 Hydroponics
6.3.2 Aeroponics
6.3.3 Aquaponics
6.3.4 Hybrid Farming
7 Vertical Farming Systems Market, By Structure
7.1 Introduction
7.2 Building-Based
7.3 Shipping Container-Based
8 Vertical Farming Systems Market, By Application
8.1 Introduction
8.2 Vegetables
8.2.1 Tomatoes
8.2.2 Leafy Vegetables
8.2.3 Cucumbers
8.2.4 Peppers
8.2.5 Others
8.3 Fruits
8.3.1 Srawberries
8.3.2 Grapes
8.3.3 Blueberries
8.3.4 Others
8.4 Herbs
8.5 Ornamentals
9 Vertical Farming Systems Market, By Input
9.1 Introduction
9.2 Nutrients
9.2.1 NPK
9.2.2 Trace Minerals
9.2.3 Others
9.3 Grow Media
9.3.1 Coco Peat
9.3.2 Rockwool
9.3.3 Perlite & Vermiculite
9.3.4 Others
10 Vertical Farming Systems Market, By Equipment & Technology
10.1 Introduction
10.2 Climate Control Systems (Including HVAC)
10.3 Grow Lights
10.4 Irrigation & Filtration Systems
10.5 Material Handling Systems
10.6 Others
11 Vertical Farming Systems Market, By Region
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 UK
11.3.2 Germany
11.3.3 France
11.3.4 Netherlands
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.2 Singapore
11.4.3 Japan
11.4.4 Taiwan
11.4.5 Rest of APAC
11.5 RoW
11.5.1 Brazil
11.5.2 Others
12 Competitive Landscape
12.1 Introduction
12.2 Competitive Leadership Mapping (Overall Market)
12.2.1 Terminology/ Nomenclature
12.2.1.1 Dynamic Differentiators
12.2.1.2 Innovators
12.2.1.3 Visionary Leaders
12.2.1.4 Emerging Companies
12.2.2 Strength of Product Portfolio
12.2.3 Business Strategy Excellence
12.3 Competitive Leadership Mapping (Start-Ups/SMES)
12.3.1 Terminology/ Nomenclature
12.3.1.1 Progressive Companies
12.3.1.2 Starting Blocks
12.3.1.3 Responsive Companies
12.3.1.4 Dynamic Companies
12.3.2 Strength of Product Portfolio
12.3.3 Business Strategy Excellence
12.4 Market Share Analysis/ Market Ranking of Key Players
12.5 Competitive Scenario
12.5.1 Agreements, Partnerships, Collaborations & Joint Ventures
12.5.2 Expansions & Investments
12.5.3 Acquisitions
12.5.4 New Product Launches
13 Company Profiles
13.1 Component Manufacturers
13.1.1 Signify Holdings
13.1.2 Scotts Miracle-Gro
13.1.3 American Hydroponics
13.1.4 Lumigrow Inc.
13.1.5 Argus Control Systems
13.2 Crop Growers
13.2.1 Aerofarms
13.2.2 Green Sense Farms
13.2.3 Terra Tech Corp
13.2.4 mirates Hydroponic Farms
13.2.5 Freight Farms
Profiles of the Suppliers of Vertical Farming Systems Would Include Company at A Glance, Recent Financials, Product Offerings, Recent Developments, and Mnm View
*Details of Recent Financials and Mnm View Might Not Be Captured in Case of Unlisted Companies.
14 Appendix
Growth opportunities and latent adjacency in Vertical Farming Systems Market