The
global vertical farming market is anticipated to reach USD 9.9 billion by 2025,
according to a new report by Grand View Research, Inc. The increased use of
Internet of Things (IoT) sensors, for producing crops, is likely to spur the
market demand over the forecast period. The information obtained from the
sensors is stored on the cloud and analyzed to perform the required actions.
The growing automation in agriculture and increasing use of big data &
predictive analytics, for maximizing yields, are also likely to drive the
market.
Genetically
modified organisms and environmental & health effects of pesticides &
other non-natural substances that are used for increasing agricultural
production have encouraged the consumers to adopt organic foods. According to
the Organic Trade Association, the U.S. organic industry sales increased by 11%
in 2015, owing to the increased investment in infrastructure and education. As
per the Organic Foods Production Act of 1990 the handlers and growers of
organic products need to comply with the regulations
Artificial
lighting helps in extending the hours of the natural daylight which further
increases the health, growth rate and yield of the plants. Artificial lighting,
such as high-pressure sodium lighting, LED lighting can extend the availability
of crops (throughout a season). LED lighting systems produce dual-band color
spectrum and generate low heat. They are anticipated to witness significant
growth over the forecast period.
Hydroponic
system is a method of growing plants without soil. A hydroponic system
eliminates the need for pesticides and artificial ripening agents and helps in
producing nutritionally-rich vegetables. However, factors, such as high initial
investment and fewer crop varieties, are likely to restrain the market growth.
In depth research report on Vertical Farming Market
Further key findings from the report suggest:
·
The escalating production of
biopharmaceutical products is anticipated to drive the market
·
The building-based segment is
expected to portray high growth rate with a CAGR of 24.8% over the projected
period
·
The climate control segment is
expected to witness high growth rate over the forecast period, as the growth of
crops can be controlled by monitoring and adjusting the concentrations of
minerals
·
The aeroponics segment is also
expected to have considerable growth over the forecast period, as the
aeroponics facilitates fast growth in plants (under normal conditions)
·
The North American regional
market is expected to have significant growth over the forecast period, owing
to the expansion of small-scale, commercial vertical farms
·
The key players of the market
include BrightFarms (U.S.), Everlight Electronics Co., Ltd. (Taiwan), and Green
Sense Farms, LLC (U.S.)
Grand
View Research has segmented the vertical farming market based on structure,
offering, growing mechanism, and regions:
Vertical Farming Structure Outlook (Revenue, USD
Million; 2014 - 2025)
·
Shipping container
·
Building-based
Vertical Farming Offering Outlook (Revenue, USD
Million; 2014 - 2025)
·
Lighting
·
Hydroponic components
·
Climate control
·
Sensors
Vertical Farming Growing Mechanism Outlook (Revenue,
USD Million; 2014 - 2025)
·
Hydroponics
·
Aeroponics
·
Aquaponics
Vertical Farming Regional Outlook (Revenue, USD
Million; 2014 - 2025)
·
North America
·
U.S.
·
Canada
·
Mexico
·
Europe
·
Germany
·
UK
·
France
·
Asia Pacific
·
China
·
India
·
Japan
·
South America
·
Brazil
·
Middle East and Africa (MEA)
Browse more research reports of this category:
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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