| Increase in global demand for food and rapid increase in urbanization are some key factors driving market revenue growth |
Global vertical farming market size reached USD 3.09 Billion in 2021 and is expected to register a revenue CAGR of 23.5% during the forecast period, according to latest analysis by Emergen Research. Increase in global demand for food and rapid urbanization are expected to support market revenue growth during 2022-2030.
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The report also discusses the key players involved in the market as well as new entrants in the market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.
Leading Players Profiled in the Report:
AeroFarms, LLC, Agricool SAS, Sky Greens, Emirates Vertical Farming Farms, Freight Farms, Inc., Green Sense Farms Holdings, Inc., Heliospectra AB, LumiGrow, Inc., Signify Holding B.V., and Hydrofarm LLC
The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals.
Vertical Farming Market Segmentation:
System Outlook (Revenue, USD Billion, 2019–2030)
Hydroponics
Aeroponics
Aquaponics
Type Outlook (Revenue, USD Billion, 2019–2030)
Aggregate SystemsOpen System
Closed System
Liquid Systems
Structure Outlook (Revenue, USD Billion, 2019–2030)
Building-based
Shipping Container-based
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The competitive analysis also includes regional analysis of major geographical regions. The report covers regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The report also offers a country wise analysis to impart better understanding of the global Vertical Farming market with regards to market share, market size, production and consumption ratio, product launches and R&D activities, investment opportunities, and presence of key players in the region.
Key Features of the Vertical Farming Market Report:
The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats
The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares
Evaluation of key current and emerging market trends and growth prospects
It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth
Brief overview of industry with regards to research and development, technological advancements, and product development
In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario
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Vertical farming is rapidly becoming one of the most popular trends in the agricultural industry. The vertical farming market is projected to reach a stunningly impressive $12.6 billion by 2025, according to a study by Markets and Markets. With an estimated Compound Annual Growth Rate (CAGR) of 18.2%, the vertical farming market is expected to thrive within the next few years.
Business experts believe the market’s growth rate can be attributed to a variety of factors including an increasing global population and an ever-growing demand for fresh, locally-sourced produce. Additionally, vertical farming eliminates the need for large tracts of land and access to sunlight, allowing it to be cultivated anywhere in the world, even in areas where traditional agriculture is not possible.
The vertical farming market is split into three main segments – equipment, structures and production systems – each of which is dominated by a few prominent players. Major players in the industry include Phillips Lighting, Toshiba, Greentech Agro, Illumitex and Aquaculture. However, as the industry continues to grow, the emergence of more small-scale, independent players is expected.
The vertical farming industry is rapidly evolving with technology playing an increasingly influential role. Automation and high-tech sensors are being used to monitor and enhance agricultural processes. Furthermore, LED lighting is being adopted en masse, drastically reducing energy costs and increasing yield.
Overall, the future of the vertical farming market is extremely positive. Business experts are confident that, with the right combination of technology, creativity and marketing, the vertical farming business has huge potential to revolutionize the global food system. As the industry continues to grow, the most successful players will be those that are able to capitalize on the latest technology and trends.
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