“Vertical Farming Market Size, Share & Industry Analysis, By Type (Hydroponics, Aeroponics, and Aquaponics), By Structure (Building-Based, Shipping-Container), By Component (Lighting System, Irrigation and Fertigation System, Climate Control, Sensors, and Others) and Regional Forecast, 2019-2026
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The global “Vertical Farming Market” size is projected to reach USD 12.04 Billion by 2026. Increasing technological advancements have allowed improved efficacies as well as enhanced output. According to a report published by Fortune Business Insights, titled “Vertical Farming Market Size, Share and Industry Analysis, By Type (Hydroponics, Aeroponics, and Aquaponics), By Structure (Building-Based, Shipping-Container), By Component (Lighting System, Irrigation and Fertigation System, Climate Control, Sensors, and Others) and Regional Forecast, 2019-2026,” the market was worth USD 2.13 billion and will exhibit a CAGR of 24.8% during the forecast period, 2019-2026.
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Vertical Farmingis a type of indoor as well as outdoor farming that is used to produce food and medicinal plants. These farms are set up with the aim of growing food in challenging environment. The primary aim of Vertical Farming is to maximize the area per square meter. A Vertical Farming system involves the use of artificial temperature, light, humidity, and other gases. The constantly rising global population, coupled with the growing demand for plants and other vegetation. Increasing adoption of Vertical Farming is attributable to the growing demand for environment-friendly ways of producing vegetables and fruits. Increasing concerns regarding organic food will contribute to the growing demand for Vertical Farming.4.
Some of the leading companies that are operating in the global Vertical Farming Market are:
Vertical Farming Market Landscape and Market Scenario Includes:
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Key segments within the market
1. By Type
2. By Structure
3. By Component
4. By Region
Asia Pacific to Dominate the Market; Increasing Use of Technologically Advanced Equipment to Aid Growth
The report analyzes the ongoing Vertical Farming Market trends across major regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The market in Asia Pacific is projected to dominate the market in the coming years, driven by growing incorporation of technologically advanced systems in Vertical Farming practices. Besides Asia Pacific, the market in North America will witness considerable growth in the coming years, owing to increasing investments in product RandD. As of 2018, the market in North America was worth USD 664.7 million and this value is likely to increase further in the coming years.
Important Features that are under Offering and Key Highlights of the Market Report:
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Key Industry Developments:
Queries Addressed In Market Report:
Increasing Number of Company Mergers Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of company mergers have had the highest impact on market growth. The increasing investment in the development of newer Vertical Farming equipment, coupled with the efforts put in to acquire medium as well as small scale enterprises will contribute to the growth of the market. In 2017, Signify Holding. (Philips Lighting) announced a collaboration with Ecobain Gardens to build the first ever commercial verticle farm operation in Canada. This partnership offers customers attractive returns on investments via healthier, nutritious and rich foods that attract new customers. The report identifies a few of the leading company mergers of recent times and gauges their impact on the growth of the market.
Key Features of Market Research Report:
Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
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Table of Content
5. Global Vertical Farming Market Analysis, Insights and Forecast, 2015-2026
5.1.Key Findings / Summary
5.2.Market Size Estimates and Forecasts
5.2.1.By Type (Value)
5.2.1.1. Hydroponics
5.2.1.2. Aeroponics
5.2.1.3. Aquaponics
5.2.2.By Structure (Value)
5.2.2.1. Building-Based Vertical Farms
5.2.2.2. Shipping-Container Vertical Farms
5.2.3.By Component (Value)
5.2.3.1. Lighting System
5.2.3.2. Irrigation and Fertigation System
5.2.3.3. Climate Control
5.2.3.4. Sensors
5.2.3.5. Others
5.2.4.By Region (Value)
5.2.4.1. North America
5.2.4.2. Europe
5.2.4.3. Asia Pacific
5.2.4.4. Middle East and Africa
5.2.4.5. Latin America
6. North America Vertical Farming Market Analysis, Insights and Forecast, 2015-2026
6.1.Key Findings / Summary
6.2.Market Size Estimates and Forecasts
6.2.1.By Type (Value)
6.2.1.1. Hydroponics
6.2.1.2. Aeroponics
6.2.1.3. Aquaponics
6.2.2.By Structure (Value)
6.2.2.1. Building-Based Vertical Farms
6.2.2.2. Shipping-Container Vertical Farms
6.2.3.By Component (Value)
6.2.3.1. Lighting System
6.2.3.2. Irrigation and Fertigation System
6.2.3.3. Climate Control
6.2.3.4. Sensors
6.2.3.5. Others
6.2.4.By Country (Value)
6.2.4.1. United States
6.2.4.2. Canada
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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