Vertical farming is a practice of cultivating food and medicinal plants in layers that are stacked vertically or surfaces that are inclined vertically or are integrated into other structures such as a skyscraper, used warehouse, or shipping container. It provides high quality fresh and nutritious food independent of soil fertility, skilled labor, favorable weather and high water usage. Hence, it ensures stability in the crop production.
Population is increasing at a pace leading to urbanization which results in decrease in arable land for farming. This is the major factor which boosts the market of vertical farming. The Recent commercialization of indoor farming and exponential growth in the urban population is fuelling the market growth. In terms of volume, global vertical farming market in 2017 stood at XX tons and is expected to reach XX tons by 2025 growing at a CAGR of XX% from 2017 to 2025. In terms of revenue, global vertical farming market in 2017 stood at USD XX million and is expected to reach USD XX million by 2025 growing at a CAGR of XX% from 2017 to 2025.
On the basis of type, vertical farming can be segmented as aeroponics, hydroponics, other. XX occupied larger share than that of XX type of vertical farming. Major applications of vertical farming can be classified as farms and buildings.
Region wise, global vertical farming market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America held the largest market share.
Some of the global major players operating in the vertical farming market include: AeroFarms, Gotham Greens, Bright Farms, Vertical Harvest, Home Town Farms, Infinite Harvest, Lufa Farms, Beijing IEDA Protected Horticulture, FarmedHere, Garden Fresh Farms, Metro Farms, Green Sense Farms and others.
The Global Vertical Farming Market is segmented as follows:
Global Vertical Farming Market: Product analysis
Global Vertical Farming Market: Application analysis
Global Vertical Farming Market: Region analysis
• North America
• Asia Pacific
• Latin America
• Middle East and Africa