Signify Holding, Sky Greens, AeroFarms are dominating the Global Vertical Farming Market in 2018

Global Vertical Farming Market is expected to reach USD 12,938.67 million by 2026 from USD 2,430.03 million in 2018 growing at a healthy CAGR in the forecast period of 2019 to 2026. The years considered for study are as mentioned below:

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The global vertical farming market is a highly consolidated market which includes specific number of key players as well as local players. The market has witnessed various strategic developments owing to favourable market scenario. The market has a prominent growth in upcoming years due to growing demand for organic food, limited land availability for traditional agriculture, rising concern regarding pollution free environment and growing adoption of advanced technologies for food production.

The market has witnessed developments in terms of merger and acquisitions or product launches to enhance the product portfolio to meet the rising demand of innovative technology. For instance, in May 2019, Fluence by OSRAM launched horticultural led lighting solutions to European and Middle East and Africa (EMEA) market because best crops possible to meet different market demands in different regions. These full-spectrum LED lights color display will replace the traditional lighting and will help the growers to produce high-quality crops in multi-layer cultivation and greenhouse. This will help OSRAM to achieve its complete product quality with unique properties as well as increase its customer base in European and Middle East and Africa (EMEA) market.

Signify Holding is the dominating player in the global vertical farming market. The other key players in the market are Sky Greens, AeroFarms, Infarms, OSRAM GmbH, Bowery Farming, Inc., Urban Crop Solutions, Spread Co Ltd, and others.

Signify Holding

Signify Holding headquartered in Eindhoven, Netherlands which was founded in 1938. The company is engaged in developing, manufacturing, and selling lighting products. The company performs its business from four segments such as Professional, LED, Lamps, Home and Others in which LED is market focused segment. The company has product categories that include lighting products and specialty applications in which specialty applications is market focused category. The company has approx. 29,237 employees as per of December 2018.

  • In May 2018, Signify Holding announced their collaboration with Travaglini FarmTech to develop Italy’s first vertical farm plant research lab in Milan. Philips will provide GreenPower LED production module Dynamic grow lights to Travaglini FarmTech. This plant research helps the Travaglini FarmTech to develop vertical farming solutions to improve product consistency and boost the supply chain dynamics. This collaboration helps the company to increase their presence in Italy.

The company has wide global presence across the globe in Europe, America, Asia-Pacific, Middle East and Africa regions. In addition to it, the company also generates its revenue from the various subsidiary companies such as Philips Lighting (China) Investment Co., Ltd, Philips Lighting B.V., Philips Lighting GmbH, Philips Lighting Holding B.V., Philips Lighting Hong Kong Limited, Philips Lighting North America Corporation, Philips Lighting Poland Sp. z o.o.,P.T Philips and others.

Sky Greens:

Sky Greens headquartered in Lim Chu Kang Lane 3, Singapore which was established in 2009. The company focuses on providing agricultural solutions with minimum impact on water, land and energy. The products offered by the company are Sky Green Vegetables, Sky Green Cold Chain Management System, Sky Green Soil and Food Waste Recycling.

  • In June 2019, Sky Greens received national standard certification for organic vegetables grown in urban environments known as Standard 632 (SS 632) for primary organic produce from Control Union Certifications. This development helps the company to expand their urban farms business outside of Singapore as well as make them more competitive.

The company has strong distribution network in Singapore.

AeroFarms

AeroFarms has headquartered in New Jersey, U.S. and it was established in 2004. The company focuses on building and operating environment friendly farms for transform agriculture.

  • In July 2019, AeroFams raised USD 100 million to increase their vertical farming business. INGKA Group is the lead investor for this funding. This investment deal was arranged by JPMorgan and an investment bank. This development helps the company to expand domestically and globally in vertical farming market.

The company has strong presence in U.S. and sell their products through their wide spread network in the U.S.