Vertical Farming Market Share Growing Rapidly 2027

Market Size – USD 2.90 billion in 2019, Market Growth - CAGR of 20.1%, Market Trends – Increasing utilization of hydroponics method. 

The market intelligence report on the Vertical Farming market forecasts its growth during the years 2020 to 2027. It examines the market size, share, demand, trends, gross revenue, total earnings and net value after a historical analysis of the data collected from the years 2020 to 2027 while taking 2018 as the base year. The study focuses on the driving factors, restrains and hurdles for the growth of the market. The researcher gives market insights relating to the upcoming areas in the business and the impact of technological innovations on the growth of the market.

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Key Highlights from the Report

1. In March 2020, an expansion of collaboration between Signify and Planet Farms, an operator of vertical farms based in Italy, Europe. The collaboration is expected to boost the quality and yield of the crops with the help of the Philips GreenPower LED production.
2. Shipping container-based vertical farms held the largest market share of 63.5% in 2019 due to the scarcity of the arable lands. Moreover, the ease of transportation and less requirement of land for the installation of the shipping container is expected to drive the growth of the segment.
3. The hydroponics segment is forecasted to grow with the fastest CAGR of 20.2% over the forecast period due to the ease of operation and low installation cost.
4. The lighting segment accounted for the largest market share of the vertical farming market in 2019 as the lighting devices help in the faster growth of the plant. The LED lighting technology is increasingly being used by the horticulture farmers due to the enhanced efficiency and long lifespan of the technologically advanced LEDs.
5. The Asia Pacific region held the largest market share of the vertical farming market in 2019 due to the growing demand for food owing to the rising global population. The scarcity of arable lands in the densely populated countries is also a driving factor for the region's growth.

Key participants include Freight Farms, Signify, Osram, Aerofarms, BrightFarms, Everlight Electronics, HELIOSPECTRA AB, Illumitex, Inc., AGRICOOL, and SKY GREENS, among others.

Regional Scope: North America; Europe; Asia Pacific; Central & South America; MEA

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Structure Outlook (Revenue, USD Billion; 2017-2027)

1. Building-based
2. Shipping-container

Growth mechanisms Outlook (Revenue, USD Billion; 2017-2027)

1. Aeroponics
2. Hydroponics
3. Aquaponics

Offering Outlook (Revenue, USD Billion; 2017-2027)

1. Climate Control
2. Lighting
3. Hydroponic Components
4. Sensors

Helping you establish a strong foothold in the industry

The Vertical Farming report highlights set of information related to pricing and the category of customers who are more than willing to pay for certain products and services. The information on opportunities as well as product features, determine which offerings or benefits command sale and identify the communications channels used by the  market leaders to create premium positioning strategies  as well as attract broadest share.

About This Author

peter Joined: November 5th, 2020