Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Vertical Farming market. Market segmentation includes Component (Lighting, Hydroponic Components, Climate Control, Sensors, Software & Services); Structure (Shipping Container, Building-based); Growth Mechanism (Hydroponics, Aeroponics, Aquaponics).
Farming has evolved owing to the increasing population and rising demands of consumers. Producers are continuously looking for methods to grow more produce by using lesser resources and land. Vertical farming is one of the latest methods of growing plants by stacking them one above another in a closed and controlled environment. Vertical farming is a method where all the environmental aspects are controlled, and the production takes place vertically in structures of stacked layers such as shipping containers, skyscrapers, or warehouses. Vertical farming is emerging as the solution to meet the rising food demands of an increasing population amidst reducing availability of fertile land. This is particularly relevant in today's world as climatic change, erratic rainfall and soil erosion are major concerns in most arid parts of the world. Expanding global population and the rising demand for a variety of foods and crops is necessitating focus on alternative farming conditions as supplements to traditional cultivation. The indoor plantation method is also an ideal way to keep the farm products protected against inclement weather conditions as they are safe inside walls and sheltered environment. Rising incidence of heart diseases, obesity and other life-threatening diseases is also driving consumers to seek healthier options, thus presenting opportunities for vertical farming market. The concept of vertical farming is garnering significant attention during the ongoing COVID-19 crisis that has triggered the demand for locally-grown foods. Vertical farming offers organic fruits and vegetables while consuming less land and water in comparison to traditional agriculture. Innovations and technological advancements in the field of vertical farming in recent years are likely to aid market growth. Light, humidity, and nutrient sensors are being used to monitor growth of crops. Further, automation is being introduced in vertical farming to standardize quality, to reduce production and distribution costs and to cut down marketing time. However, indoor farming entails a huge initial expenditure including labor, technological and electricity expenses.
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 719. Among this pool, 144 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 29 unique participations, a total of 13 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
Key Competitors Covered in the Report -
Koninklijke Philips NV
Everlight Electronics Co., Ltd.
Green Sense Farms, LLC
Vertical Farm Systems Pty Ltd.
Segments Covered in the Report -
Component (Lighting, Hydroponic Components, Climate Control, Sensors, Software & Services)
Growth Mechanism (Hydroponics, Aeroponics, Aquaponics)
Structure (Shipping Container, Building-based)
Geographies Analyzed in the Report -
Rest of Europe
Rest of World.
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.