Market by Technique, Structure Type, Crop Type, Offering, and Regional Outlook | Forecast 2022-2028
Vertical farming technology is a type of controlled environment farming.
With the correct hardware and software, vertical farming can be carried out
almost anywhere. Based on soilless agricultural methods, it uses roughly 80%
less water and doesn’t require pesticides, unlike conventional farming.
Moreover, this method demands a fine-grained management level and control of
the growing environment, including regulating the specialized illumination for
photosynthesis in various crops and maintaining ventilation, humidity,
fertilizer, and water levels.
According to Triton Market Research’s report, the Global Vertical Farming Market is likely to reach $XX million by 2028, with a CAGR of 23.1% from $XX million in 2021 during the forecast period 2022-2028.
Click here to check out our blog on the Global Vertical Farming Market
MARKET PERFORMANCE: DRIVERS,
CHALLENGES, AND TRENDS
Over the forecast period, the market expansion
is likely to be fueled by rising concern for food security, declining land
resources for agriculture, and growing awareness of indoor farming. Arable land is rapidly disappearing due to
growing urbanization and industrialization, creating concern about the supply
of organic and healthful food in developed and developing nations. With
vertical farming, crop production is carried inside a regulated agricultural
environment, eliminating the dependency on climatic circumstances. This method
can be used to produce several crops each year in less space compared to
conventional farming. In vertical farming, one acre of indoor space may produce
roughly the same amount of food as four to six acres of open space.
The market, however, must overcome significant
obstacles like the high cost of operation and limitations on types of crop
grown. Setting up a
vertical farm may need a substantial financial commitment. For plant
photosynthesis, this method uses artificial lighting, which entails supplying
specialized lighting based on each crop’s needs at each growth stage.
Investment in high-performing LED technology, remote monitoring, and knowledge
of growth parameters like fertilizer level, humidity, CO2 level, and others are
necessary.
Global food production is under pressure due to
a growing population and a shortage of arable land, creating the need for
vertical farming. As per the
Global Agro-Ecological Zone study, while there is enough space for crop
production to meet the world’s food demands, several nations lack an adequate
supply of land suitable for agriculture. According to the United Nations, to
feed the 9.6 billion people that will inhabit the planet in 2050, food
production must increase by 70%. Poor nations or those with unfavorable
agricultural land and environmental conditions for food production depend on
other nations for food security. Hence, countries can benefit from vertical
farming since it enables controlled environment agriculture for high-quality,
fresh, pesticide-free fruits and vegetables, consequently addressing dietary
and health concerns.
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KEY GEOGRAPHIES COVERED:
• North America: United
States and Canada
• Europe: United Kingdom,
France, Germany, Spain, Italy, and Rest of Europe
• Asia-Pacific: China,
Japan, India, Australia, South Korea, ASEAN Countries, and Rest of Asia-Pacific
• Latin America: Brazil,
Mexico, and Rest of Latin America
• Middle East and Africa:
Saudi Arabia, Turkey, United Arab Emirates, South Africa, and Rest of Middle
East & Africa
SEGMENTATION ANALYSIS –
VERTICAL FARMING MARKET:
• Market by Technique:
o Hydroponics
In the hydroponic technique, crops are grown in water without the use of
soil. Plants are grown through vertical stacking in trays or tower structures
in an indoor space. In vertical hydroponics, plants can be grown simultaneously
on different levels. These are also called hydroponics or tower gardens. Inside
the tower of the hydroponic farm, a system of watering tubes delivers the water
needed. Reservoir tanks at the bottom of the tower store the water, and a
pumping system delivers water starting at the highest level of the stacks or
towers.
o Aeroponics
o Aquaponics
• Market by Crop Type:
o Tomato
o Berries
o Lettuce and Leafy Vegetables
o Pepper
o Cucumber
o Microgreens
o Other Crop Types
• Market by Structure Type:
o Building-based
o Shipping container-based
Farmers and growers are reusing shipping containers for producing crops
to cater to urban populations. A shipping-container-based vertical farm can be
opened in discarded containers and sited in a city’s parking lots, warehouses
and other spaces. A shipping container can be converted into a technically
advanced vertical farm. Factors such as ease of shipping, compactness,
economies of scale, economical procurement, and easy availability are helping
to drive the use of container-based vertical farming among growers and
entrepreneurs. Since containers can be easily sited, container farming helps
minimize the time lag between harvesting the crop and supplying it to
consumers.
• Market by Offering:
o Lighting
o Climate control
o Sensors
o Hydroponic components
COMPETITIVE LANDSCAPE:
The competitive
landscape helps dive into data about the key players in the vertical farming
market. The strategic initiatives for each of the companies considered have
been covered in detail.
Contracts & Agreements
(August 2021) – AeroFarms and Cargill Cocoa
AeroFarms entered a partnership research agreement with Cargill Cocoa
(US). Under this partnership, the companies aimed to utilize their expertise in
hydroponics and aeroponics techniques for cocoa plant production.
Product Development (May
2021) – Bowery Farm launched Farm X
Bowery Farm opened its state-of-the-art facility called Farm X in New
Jersey. This new facility expanded its vertical farming operation and enhanced
its technology offerings.
KEY BENEFITS OF THE REPORT:
●
Triton Market Research has a collective experience of 25-30 years
in the industry, with its analysts and experts encompassing the most infallible
research methodology for its market intelligence and industry analysis.
●
Our research methodology helps in achieving a broader consensus of
the market size, shape, and industry trends within each industry segment.
●
The strategy adopted in designing the research methodology
includes the amalgamation of the information assembled from primary and
secondary sources, with the assistance of analytical tools to construct the
forecast and predictive models.
●
The scope of the market report comprises the current scenario of
the global vertical farming market, along with the detailed overview of the
industry outlook, market dynamics, segmentation analysis, regional outlook, and
competitive landscape for the period 2022-2028.
FAQs:
Q 1) Does this report include
the impact of COVID-19 on the Vertical Farming Market?
The market study has analyzed the impact of COVID-19 on the vertical
farming market qualitatively as well as quantitatively.
Q 2) Which type of technology
is more prevalent in Vertical Farming?
The majority of the market share is held by hydroponics due to its
growing adoption and technological advancements in the agricultural field.
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1. GLOBAL
VERTICAL FARMING MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. KEY
INSIGHTS
2.1.1. GROWING
POPULATION AND FOOD DEMAND
2.1.2. PRODUCTION
OF BIOPHARMACEUTICAL PRODUCTS
2.2. IMPACT
OF COVID-19 ON THE VERTICAL FARMING MARKET
2.3. PORTER’S
FIVE FORCES ANALYSIS
2.3.1. THREAT
OF NEW ENTRANTS
2.3.2. THREAT
OF SUBSTITUTES
2.3.3. BARGAINING
POWER OF BUYERS
2.3.4. BARGAINING
POWER OF SUPPLIERS
2.3.5. THREAT
OF COMPETITIVE RIVALRY
2.4. MARKET
ATTRACTIVENESS MATRIX
2.5. INDUSTRY
COMPONENTS
2.6. VENDOR
SCORECARD
2.7. KEY
MARKET STRATEGIES
2.7.1. ACQUISITIONS
2.7.2. PRODUCT
LAUNCHES
2.7.3. CONTRACTS
& AGREEMENTS
2.8. MARKET
DRIVERS
2.8.1. DECLINE
IN LAND RESOURCES FOR AGRICULTURE
2.8.2. RISING
CONCERN FOR FOOD SECURITY
2.8.3. GROWING
AWARENESS OF INDOOR FARMING
2.9. MARKET
CHALLENGES
2.9.1. HIGH
OPERATING COST
2.9.2. LIMITATION
ON TYPES OF CROP GROWN
2.10. MARKET
OPPORTUNITIES
2.10.1. WIDESPREAD
ADOPTION OF PRECISION FARMING TECHNOLOGY
2.10.2. INCREASING
DEMAND FOR ORGANIC FOOD
3. GLOBAL
VERTICAL FARMING MARKET - BY TECHNIQUE
3.1. HYDROPONICS
3.2. AEROPONICS
3.3. AQUAPONICS
4. GLOBAL
VERTICAL FARMING MARKET - BY STRUCTURE TYPE
4.1. BUILDING-BASED
4.2. SHIPPING
CONTAINER-BASED
5. GLOBAL
VERTICAL FARMING MARKET - BY CROP TYPE
5.1. TOMATO
5.2. BERRIES
5.3. LETTUCE
AND LEAFY VEGETABLES
5.4. PEPPER
5.5. CUCUMBER
5.6. MICROGREENS
5.7. OTHER
CROP TYPES
6. GLOBAL
VERTICAL FARMING MARKET - BY OFFERING
6.1. LIGHTING
6.2. CLIMATE
CONTROL
6.3. SENSORS
6.4. HYDROPONIC
COMPONENTS
7. GLOBAL
VERTICAL FARMING MARKET - REGIONAL OUTLOOK
7.1. NORTH
AMERICA
7.1.1. MARKET
BY TECHNIQUE
7.1.2. MARKET
BY STRUCTURE TYPE
7.1.3. MARKET
BY CROP TYPE
7.1.4. MARKET
BY OFFERING
7.1.5. COUNTRY
ANALYSIS
7.1.5.1. UNITED
STATES
7.1.5.2. CANADA
7.2. EUROPE
7.2.1. MARKET
BY TECHNIQUE
7.2.2. MARKET
BY STRUCTURE TYPE
7.2.3. MARKET
BY CROP TYPE
7.2.4. MARKET
BY OFFERING
7.2.5. COUNTRY
ANALYSIS
7.2.5.1. UNITED
KINGDOM
7.2.5.2. GERMANY
7.2.5.3. FRANCE
7.2.5.4. ITALY
7.2.5.5. SPAIN
7.2.5.6. REST
OF EUROPE
7.3. ASIA-PACIFIC
7.3.1. MARKET
BY TECHNIQUE
7.3.2. MARKET
BY STRUCTURE TYPE
7.3.3. MARKET
BY CROP TYPE
7.3.4. MARKET
BY OFFERING
7.3.5. COUNTRY
ANALYSIS
7.3.5.1. CHINA
7.3.5.2. JAPAN
7.3.5.3. INDIA
7.3.5.4. SOUTH
KOREA
7.3.5.5. ASEAN
COUNTRIES
7.3.5.6. AUSTRALIA
& NEW ZEALAND
7.3.5.7. REST
OF ASIA-PACIFIC
7.4. LATIN
AMERICA
7.4.1. MARKET
BY TECHNIQUE
7.4.2. MARKET
BY STRUCTURE TYPE
7.4.3. MARKET
BY CROP TYPE
7.4.4. MARKET
BY OFFERING
7.4.5. COUNTRY
ANALYSIS
7.4.5.1. BRAZIL
7.4.5.2. MEXICO
7.4.5.3. REST
OF LATIN AMERICA
7.5. MIDDLE
EAST AND AFRICA
7.5.1. MARKET
BY TECHNIQUE
7.5.2. MARKET
BY STRUCTURE TYPE
7.5.3. MARKET
BY CROP TYPE
7.5.4. MARKET
BY OFFERING
7.5.5. COUNTRY
ANALYSIS
7.5.5.1. UNITED
ARAB EMIRATES
7.5.5.2. TURKEY
7.5.5.3. SAUDI
ARABIA
7.5.5.4. SOUTH
AFRICA
7.5.5.5. REST
OF MIDDLE EAST & AFRICA
8. COMPETITIVE
LANDSCAPE
8.1. AEROFARMS
8.2. AMERICAN
HYDROPONICS
8.3. AGRILUTION
8.4. GROWUP
FARMS LTD
8.5. JONES
FOOD COMPANY
8.6. GRONSKA
STADSODLING AB
8.7. V-FARM
8.8. URBAN
CROP SOLUTIONS
8.9. IGS
LIMITED
8.10. FREIGHT
FARMS
8.11. SKY
GREENS
8.12. SIGNIFY
HOLDINGS (PHILIPS)
8.13. EVERLIGHT
ELECTRONICS CO LTD
8.14. VERTICAL
FARM SYSTEMS
8.15. SWEGREEN
9. METHODOLOGY
& SCOPE
9.1. RESEARCH
SCOPE
9.2. SOURCES
OF DATA
9.3. RESEARCH
METHODOLOGY
TABLE 1: GLOBAL
VERTICAL FARMING MARKET, REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 2: VENDOR
SCORECARD
TABLE 3: LIST OF
ACQUISITIONS
TABLE 4: LIST OF
PRODUCT LAUNCHES
TABLE 5: LIST OF
CONTRACTS & AGREEMENTS
TABLE 6: GLOBAL
VERTICAL FARMING MARKET, OUTLOOK BY TECHNIQUE, 2022-2028 (IN $ MILLION)
TABLE 7: GLOBAL
VERTICAL FARMING MARKET, OUTLOOK BY STRUCTURE TYPE, 2022-2028 (IN $ MILLION)
TABLE 8: GLOBAL
VERTICAL FARMING MARKET, OUTLOOK BY CROP TYPE, 2022-2028 (IN $ MILLION)
TABLE 9: GLOBAL
VERTICAL FARMING MARKET, OUTLOOK BY OFFERING, 2022-2028 (IN $ MILLION)
TABLE 10: GLOBAL
VERTICAL FARMING MARKET, REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 11: NORTH AMERICA
VERTICAL FARMING MARKET, COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 12: NORTH AMERICA
VERTICAL FARMING MARKET, OUTLOOK BY TECHNIQUE, 2022-2028 (IN $ MILLION)
TABLE 13: NORTH AMERICA
VERTICAL FARMING MARKET, OUTLOOK BY STRUCTURE TYPE, 2022-2028 (IN $ MILLION)
TABLE 14: NORTH AMERICA
VERTICAL FARMING MARKET, OUTLOOK BY CROP TYPE, 2022-2028 (IN $ MILLION)
TABLE 15: NORTH AMERICA
VERTICAL FARMING MARKET, OUTLOOK BY OFFERING, 2022-2028 (IN $ MILLION)
TABLE 16: EUROPE
VERTICAL FARMING MARKET, COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 17: EUROPE
VERTICAL FARMING MARKET, OUTLOOK BY TECHNIQUE, 2022-2028 (IN $ MILLION)
TABLE 18: EUROPE
VERTICAL FARMING MARKET, OUTLOOK BY STRUCTURE TYPE, 2022-2028 (IN $ MILLION)
TABLE 19: EUROPE
VERTICAL FARMING MARKET, OUTLOOK BY CROP TYPE, 2022-2028 (IN $ MILLION)
TABLE 20: EUROPE
VERTICAL FARMING MARKET, OUTLOOK BY OFFERING, 2022-2028 (IN $ MILLION)
TABLE 21: ASIA-PACIFIC
VERTICAL FARMING MARKET, COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 22: ASIA-PACIFIC
VERTICAL FARMING MARKET, OUTLOOK BY TECHNIQUE, 2022-2028 (IN $ MILLION)
TABLE 23: ASIA-PACIFIC
VERTICAL FARMING MARKET, OUTLOOK BY STRUCTURE TYPE, 2022-2028 (IN $ MILLION)
TABLE 24: ASIA-PACIFIC
VERTICAL FARMING MARKET, OUTLOOK BY CROP TYPE, 2022-2028 (IN $ MILLION)
TABLE 25: ASIA-PACIFIC
VERTICAL FARMING MARKET, OUTLOOK BY OFFERING, 2022-2028 (IN $ MILLION)
TABLE 26: LATIN AMERICA
VERTICAL FARMING MARKET, COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 27: LATIN AMERICA
VERTICAL FARMING MARKET, OUTLOOK BY TECHNIQUE, 2022-2028 (IN $ MILLION)
TABLE 28: LATIN AMERICA
VERTICAL FARMING MARKET, OUTLOOK BY STRUCTURE TYPE, 2022-2028 (IN $ MILLION)
TABLE 29: LATIN AMERICA
VERTICAL FARMING MARKET, OUTLOOK BY CROP TYPE, 2022-2028 (IN $ MILLION)
TABLE 30: LATIN AMERICA
VERTICAL FARMING MARKET, OUTLOOK BY OFFERING, 2022-2028 (IN $ MILLION)
TABLE 31: MIDDLE EAST AND
AFRICA VERTICAL FARMING MARKET, COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 32: MIDDLE EAST AND
AFRICA VERTICAL FARMING MARKET, OUTLOOK BY TECHNIQUE, 2022-2028 (IN $ MILLION)
TABLE 33: MIDDLE EAST AND
AFRICA VERTICAL FARMING MARKET, OUTLOOK BY STRUCTURE TYPE, 2022-2028 (IN $
MILLION)
TABLE 34: MIDDLE EAST AND
AFRICA VERTICAL FARMING MARKET, OUTLOOK BY CROP TYPE, 2022-2028 (IN $ MILLION)
TABLE 35: MIDDLE EAST
AND AFRICA VERTICAL FARMING MARKET, OUTLOOK BY OFFERING, 2022-2028 (IN $
MILLION)
FIGURE 1: PORTER’S FIVE
FORCES ANALYSIS
FIGURE 2: MARKET
ATTRACTIVENESS MATRIX
FIGURE 3: INDUSTRY
COMPONENTS
FIGURE 4: GLOBAL
VERTICAL FARMING MARKET, OUTLOOK BY TECHNIQUE, 2021 & 2028 (IN %)
FIGURE 5: GLOBAL
VERTICAL FARMING MARKET, BY HYDROPONICS, 2022-2028 (IN $ MILLION)
FIGURE 6: GLOBAL
VERTICAL FARMING MARKET, BY AEROPONICS, 2022-2028 (IN $ MILLION)
FIGURE 7: GLOBAL
VERTICAL FARMING MARKET, BY AQUAPONICS, 2022-2028 (IN $ MILLION)
FIGURE 8: GLOBAL
VERTICAL FARMING MARKET, OUTLOOK BY STRUCTURE TYPE, 2021 & 2028 (IN %)
FIGURE 9: GLOBAL
VERTICAL FARMING MARKET, BY BUILDING-BASED, 2022-2028 (IN $ MILLION)
FIGURE 10: GLOBAL
VERTICAL FARMING MARKET, BY SHIPPING CONTAINER-BASED, 2022-2028 (IN $ MILLION)
FIGURE 11: GLOBAL
VERTICAL FARMING MARKET, OUTLOOK BY CROP TYPE, 2021 & 2028 (IN %)
FIGURE 12: GLOBAL
VERTICAL FARMING MARKET, BY TOMATO, 2022-2028 (IN $ MILLION)
FIGURE 13: GLOBAL
VERTICAL FARMING MARKET, BY BERRIES, 2022-2028 (IN $ MILLION)
FIGURE 14: GLOBAL
VERTICAL FARMING MARKET, BY LETTUCE AND LEAFY VEGETABLES, 2022-2028 (IN $
MILLION)
FIGURE 15: GLOBAL
VERTICAL FARMING MARKET, BY PEPPER, 2022-2028 (IN $ MILLION)
FIGURE 16: GLOBAL
VERTICAL FARMING MARKET, BY CUCUMBER, 2022-2028 (IN $ MILLION)
FIGURE 17: GLOBAL
VERTICAL FARMING MARKET, BY MICROGREENS, 2022-2028 (IN $ MILLION)
FIGURE 18: GLOBAL
VERTICAL FARMING MARKET, BY OTHER CROP TYPES, 2022-2028 (IN $ MILLION)
FIGURE 19: GLOBAL
VERTICAL FARMING MARKET, OUTLOOK BY OFFERING, 2021 & 2028 (IN %)
FIGURE 20: GLOBAL
VERTICAL FARMING MARKET, BY LIGHTING, 2022-2028 (IN $ MILLION)
FIGURE 21: GLOBAL
VERTICAL FARMING MARKET, BY CLIMATE CONTROL, 2022-2028 (IN $ MILLION)
FIGURE 22: GLOBAL
VERTICAL FARMING MARKET, BY SENSORS, 2022-2028 (IN $ MILLION)
FIGURE 23: GLOBAL
VERTICAL FARMING MARKET, BY HYDROPONIC COMPONENTS, 2022-2028 (IN $ MILLION)
FIGURE 24: GLOBAL
VERTICAL FARMING MARKET, REGIONAL OUTLOOK, 2021 & 2028 (IN %)
FIGURE 25: UNITED
STATES VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 26: CANADA
VERTICAL FARMING MARKET, 2022-2028 (IN $ MILLION)
FIGURE 27: UNITED KINGDOM
VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 28: GERMANY
VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 29: FRANCE
VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 30: ITALY
VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 31: SPAIN
VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 32: RUSSIA
VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 33: REST OF EUROPE
VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 34: CHINA
VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 35: JAPAN
VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 36: INDIA
VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 37: SOUTH KOREA
VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 38: ASEAN COUNTRIES
VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 39: AUSTRALIA
& NEW ZEALAND VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 40: REST OF
ASIA-PACIFIC VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 41: BRAZIL
VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 42: MEXICO VERTICAL
FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 43: REST OF
LATIN AMERICA VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 44: UNITED ARAB
EMIRATES VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 45: SAUDI ARABIA
VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 46: TURKEY
VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 47: SOUTH AFRICA
VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)
FIGURE 48: REST OF
MIDDLE EAST & AFRICA VERTICAL FARMING MARKET 2022-2028 (IN $ MILLION)