July 25, 2022 07:03 ET | Source: Research and Markets Research and Markets
Dublin, July 25, 2022 (GLOBE NEWSWIRE) -- 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. 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. Vertical Farming Market Trends:
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.
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Vertical Farm Systems Pty Ltd. Key Questions Answered in This Report:
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 6.1 Irrigation Component 6.1.1 Market Trends 6.1.2 Market Forecast 6.2 Lighting 6.2.1 Market Trends 6.2.2 Market Forecast 6.3 Sensors 6.3.1 Market Trends 6.3.2 Market Forecast 6.4 Climate Control 6.4.1 Market Trends 6.4.2 Market Forecast 6.5 Building Material 6.5.1 Market Trends 6.5.2 Key Segments 6.5.2.1 Glass Greenhouse 6.5.2.2 Plastic Greenhouse 6.5.3 Market Forecast 6.6 Others 6.6.1 Market Trends 6.6.2 Market Forecast 7 Market Breakup by Structure 7.1 Building-based Vertical Farms 7.1.1 Market Trends 7.1.2 Market Forecast 7.2 Container-based Vertical Farms 7.2.1 Market Trends 7.2.2 Market Forecast 8 Market Breakup by Growth Mechanism 8.1 Hydroponics 8.1.1 Market Trends 8.1.2 Market Forecast 8.2 Aeroponics 8.2.1 Market Trends 8.2.2 Market Forecast 8.3 Aquaponics 8.3.1 Market Trends 8.3.2 Market Forecast 9 Market Breakup by Application 9.1 Indoor 9.1.1 Market Trends 9.1.2 Market Forecast 9.2 Outdoor 9.2.1 Market Trends 9.2.2 Market Forecast 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 15.3.1 AeroFarms 15.3.1.1 Company Overview 15.3.1.2 Product Portfolio 15.3.2 Agrilution Systems GmbH 15.3.2.1 Company Overview 15.3.2.2 Product Portfolio 15.3.3 AmHydro 15.3.3.1 Company Overview 15.3.3.2 Product Portfolio 15.3.4 Everlight Electronics Co. Ltd. 15.3.4.1 Company Overview 15.3.4.2 Product Portfolio 15.3.4.3 Financials 15.3.5 Freight Farms Inc. 15.3.5.1 Company Overview 15.3.5.2 Product Portfolio 15.3.6 Gronska Stadsodling 15.3.6.1 Company Overview 15.3.6.2 Product Portfolio 15.3.7 Heliospectra AB 15.3.7.1 Company Overview 15.3.7.2 Product Portfolio 15.3.7.3 Financials 15.3.8 Jones Food Company Limited 15.3.8.1 Company Overview 15.3.8.2 Product Portfolio 15.3.9 Koninklijke Philips N.V. 15.3.9.1 Company Overview 15.3.9.2 Product Portfolio 15.3.9.3 Financials 15.3.9.4 SWOT Analysis 15.3.10 OSRAM GmbH (ams-OSRAM AG) 15.3.10.1 Company Overview 15.3.10.2 Product Portfolio 15.3.10.3 Financials 15.3.11 Signify N.V. 15.3.11.1 Company Overview 15.3.11.2 Product Portfolio 15.3.11.3 Financials 15.3.12 Urban Crop Solutions 15.3.12.1 Company Overview 15.3.12.2 Product Portfolio 15.3.13 Vertical Farm Systems Pty Ltd 15.3.13.1 Company Overview 15.3.13.2 Product Portfolio For more information about this report visit https://www.researchandmarkets.com/r/uqu6jt