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Vertical Farming Market
“As per the vertical farming market analysis, Asia-Pacific accounted for a major share of the global market in 2020 and is expected to dominate the market in terms of revenue during the forecast period. The region is witnessing upsurge in demand for organic food; for instance, it consumes over 75% of all vegetables around the globe. The change in preference of consumers, followed by the rise in pollution, food scandals, and increase in distaste is majorly driving the
growth of indoor farming and organic food in the region. The region houses some of the largest indoor vertical farms across the globe.”
Shantanu Sachan Lead Analyst, Semiconductor and Electronics
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Vertical Farming Market
Vertical farming is a revolutionary approach used to produce food in vertically stacked layers such as in a skyscraper, used warehouse, or shipping container. It facilitates huge quantity of nutritious and quality fresh food without relying on favorable weather, high water usage, skilled labor, and high soil fertility. Moreover, it enables reliable yield and consistency along with climate control, and no effects of external environment factors such as disease, pest, or predator attacks. According to a new report published by Allied Market Research, titled, “Vertical Farming Market by Structure, Growth Mechanism, Component, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030”, the vertical farming industry size was valued at $3.24 billion in 2020, and is projected to reach $24.11 billion by 2030, registering a CAGR of 22.9%. Asia-Pacific is expected to be the leading contributor in the global vertical farming market forecast period, followed by North America and Europe.
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Vertical Farming Market
The growth of the vertical farming market is driven by factors such as rise in trend of using organic foods (healthy food without pesticides), optimum use of vertical space, and minimal impact of weather on yield. Increase in population leads to rise in demand–supply gap for food. Thus, the need for alternative farming techniques such as vertical farming is expected to increase in the near future. In addition, upsurge in per capita income in developing countries and occupational changes along with the globalization have changed the food preferences. Such trends have led toward the demand for new innovations in agriculture and need for such innovations to be integrated with the main stream agriculture. The vertical farming market share is segmented on the basis of structure, growth mechanism, component, and region. The structure segment is bifurcated into building-based structure and container-based structure. On the basis of growth mechanism, the market is sub-segmented into hydroponics, aeroponics, and aquaponics. Vertical Hydroponics segment dominated the market share in 2020.
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Vertical Farming Market Key Findings of The Study
• The building based vertical farms segment is projected to be dominate structure during the forecast period followed by shipping container based vertical farms. • APAC and North America collectively accounted for more than 73.07% of the Vertical farming market share in 2020. • Aeroponics segment is anticipated to witness highest growth rate during the forecast period. • Japan was the major shareholder in the Asia-Pacific vertical farming market size, accounting for approximately 27.03% share in 2020.
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Vertical Farming Market
Major Companies: • • • • • • • • • •
4D Bios Inc. AeroFarms Agrilution AMHYDRO (American Hydroponics) Everlight Electronics Co., Ltd. Hort Americas Illumitex Inc. Koninklijke Philips N.V. Urban Crop Solutions Sky Greens
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Vertical Farming Market Contact: David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States Toll Free (USA/Canada): +1-800-792-5285, +1-503-894-6022, +1-503-4461141 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-2066346060 Fax: +1⟨855⟩5505975 help@alliedmarketresearch.com Web: https://www.alliedmarketresearch.com
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