A recent report published by Infinium Global Research on the vertical farming market provides an in-depth analysis of segments and sub-segments in the global as well as the regional vertical farming market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional vertical farming market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global vertical farming market. According to the report, the global vertical farming market is projected to grow at a CAGR of 22.1% over the forecast period of 2019-2025.
The leading companies in the global vertical farming market are Sky Greens, AeroFarms, Green Spirit Farms, American Hydroponics, General Hydroponics, Mirai Co. Ltd., Spread Co. Ltd., Urban Crops Solutions, Green Sense Farms, Agrilution GmbH, and other companies. Companies are adopting strategies such as mergers, acquisitions, and new product launches maximizing the market share.
The rising disposable income and urbanization drive the growth of the vertical farming market. The increasing demand for organic foods by consumers contributes to the growth of the vertical farming market. The rising awareness among consumers about organic food consumption stimulates the growth of the vertical farming market. Vertical farming minimizes the intervention of machines used in conventional farming. The balanced energy consumption and suitable use of vertical space propel the growth of the vertical farming market. Vertical farming helps in falling transportation costs and using less water. Vertical farming involves various technologies that help the growth of plants artificially. These technologies help in tracking plant growth fueling the growth of the vertical farming market. In addition, the growing adoption of plantscapers propels the growth of the vertical farming market. Plantscapers are buildings providing food for its occupants. For instance, Plantagon, a Swedish food tech company has allowed office spaces and buildings to feed a large number of people. The increasing adoption of independent farming techniques with the lesser impact of climatic conditions propels the growth of the vertical farming market. On the flip side, high initial investments and the huge cost of organic pesticides hamper the growth of the vertical farming market. Moreover, development in the technology used in vertical farming creates novel opportunities for the growth of the vertical farming market.
Based on geography, the global vertical farming market is divided into North America, Asia-Pacific, Europe, and the Rest of the World. North America is expected to hold a dominant share in the global vertical farming market. The growing research centers in the North America region contribute to the growth of the vertical farming market in North America. Asia-Pacific is anticipated to grow in the global vertical farming market with a healthy CAGR over the forecast period. The rising demand for organic food in the Asia-Pacific region fuels the growth of the vertical farming market. Europe is showing growth in the global vertical farming market.
The report on the global vertical farming market covers segments such as farm structure, component, and technology. On the basis of farm structure, the sub-markets include building based structure, and container-based structure. On the basis of component, the sub-markets include irrigation component, lighting, sensor, building material, and other components. On the basis of technology, the sub-markets include hydroponics, aeroponics, and aquaponics.
The report provides profiles of the companies in the market such as Sky Greens, AeroFarms, Green Spirit Farms, General Hydroponics, Mirai Co. Ltd., Spread Co. Ltd., Urban Crops Solutions, Green Sense Farms, Agrilution GmbH, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the vertical farming market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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