North America Vertical Farming Market, By Growth Mechanism (Hydroponics, Aeroponics, Aquaponics), Structure (Shipping Containers, Building Based), Type (Biopesticides, Biofertilizer, Biostimulants), Crop Type (Leafy Green, Pollinated Plants, Nutraceutical Plant), Application (Indoor, Outdoor), Component (Lighting, Hydroponic Component, Climate Control, Sensors), Country (U.S., Canada and Mexico) Industry Trends and Forecast to 2028
The vertical farming market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 29.2% in the forecast period of 2021 to 2028 and is expected to reach USD 7,274.17 million by 2028. Increasing demand for the clean organic food is a prominent factor that is driving the growth of the vertical farming market.
Vertical farming is a method of processing food such as in a skyscraper, used factory or shipping container done in vertically stacked layers. Indoor farming methods and controlled-environment agriculture (CEA) technologies are used for modern vertical farming concepts where all environmental conditions can be controlled.
Pollution has major economic consequences in terms of health, lack of productivity, health care costs and disruption to the environment, hence, the growing concerns regarding pollution free environment is driving the growth of the vertical farming market. The limited variety of crops involved in vertical farming lead to economic feasibility which hinders the growth of the vertical farming market. The increasing utilization of IoT sensors in crop production has provided with the ample opportunities for the growth of the vertical farming market. The rising maintenance of air circulation in vertical farming is acting as a major challenge for the vertical farming market.
This vertical farming market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the vertical farming market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
The vertical farming market is segmented on the basis of the growth mechanism, structure, type, crop type, application and component. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of growth mechanism, the vertical farming market is segmented into hydroponics, aeroponics and aquaponics. In 2021, hydroponics segment is dominating in the vertical farming market because it is widely used in vertical farming as it involves growing plants in nutrient solutions that are free of soil.
- On the basis of structure, the vertical farming market is segmented into shipping containers and building based. In 2021, shipping containers segment is dominating in the vertical farming market as various vegetables are grown such as leafy green vegetables, gourmet, mushroom and strawberries.
- On the basis of type, the vertical farming market is segmented into biopesticides, biofertilizer and biostimulants. In 2021, biopesticides segment is dominating in the vertical farming market due to increasing use of microbial pesticides that help in controlling many kinds of pests even though each separate active ingredient is relatively specific for its target pest.
- On the basis of crop type, the vertical farming market is segmented into leafy green, pollinated plants and nutraceutical plant. In 2021, leafy green segment is dominating in the vertical farming market because of wide usage for growing vegetables such as basil, cilantro or chives, fruits, herbs, pharmaceutical plants among others.
- On the basis of application, the vertical farming market is segmented into indoor and outdoor. In 2021, indoor segment is dominating in the vertical farming market as the modern ideas of vertical farming use indoor farming techniques and controlled-environment agriculture (CEA) technology where all environmental factors can be controlled.
- On the basis of component, the vertical farming market is segmented into lighting, hydroponic component, climate control and sensors. In 2021, lighting segment is dominating in the vertical farming market because it helps to grow plants at faster rate.
North America vertical farming market is analysed and market size information is provided by the country, growth mechanism, structure, type, crop type, application and component as referenced above.
The countries covered in North America vertical farming market report are the U.S., Canada and Mexico.
The U.S. is dominating in the North America vertical farming market due to ongoing investment and continuous research and development for the hydroponics segment. North America region has witnessed high growth in adoption of vertical farming for the hydroponics segment due to rising adoption of vertical farming solutions in countries such as the Canada and Mexico.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Vertical Farming
The vertical farming market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in vertical farming and changes in regulatory scenarios with their support for the vertical farming market. The data is available for historic period 2011 to 2019.
Competitive Landscape and Vertical Farming Market Share Analysis
The vertical farming market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to North America vertical farming market.
The major players covered in the North America vertical farming market report are Signify Holding, AeroFarms, BOWERY FARMING INC., AGM Services, Altius Farms, CubicFarm Systems Corp., Green Sense Farms Holdings, Inc., AMHYDRO, InFarm – Indoor Urban Farming GmbH, Urban Crop Solutions, CropOne, Plenty Unlimited Inc., Freight Farms, Inc., ZipGrow Inc., SANANBIO, EVERLIGHT, OSRAM GmbH, Valoya, Heliospectra AB, Jain Irrigation Systems Ltd among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of the vertical farming market.
- In September 2019, Signify Holding introduced LED modules are for vertical farming allowing consistent quality of producing open field lettuce or lettuce grown with the help of fluorescent lighting. The company enhanced the business portfolio through the launch of the technology generating more profit and income to it.
Acquisition, collaboration, partnership, joint ventures and other strategies enhance the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for vertical farming through expanded range of size.
Customization Available: North America Vertical Farming Market
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