Global Vertical Farming Industry was valued at USD 1.84 billion in the year 2017. Global Vertical Farming Industry is further estimated to grow at a CAGR of 22.61% from 2018 to reach USD 6.25 Billion by the year 2025. The global population is increasing rapidly with increase in demand for food ultimately building pressure on the resources. Implementing vertical farming i.e. growing food in skyscrapers might help overcome these problems.
Global Vertical Farming Industry Size and Share by 2025 (USD Billion)
The major Industry players are Aerofarms, Illumitex Inc., Koninklijke Philips N.V., Sky Greens, Agrilution, Everlight Electronics Co. Ltd., Green Sense Farms LLC, American Hydroponics, Vertical Farm System, Urban Crops (Other 9 companies detailed information is provided in the report). Acquisitions, collaboration, and new product development are their key business strategy to gain Industry share. APAC followed by North America region holds the highest Industry share in 2017 and is considered as the fastest growing Industry in the estimated period. The U.S. is the major Industry in 2017 at country level and it is further anticipated to grow at a steady pace in the next 7 years.
SWOT Analysis of Vertical Farming Industry
Fast increasing global population and food consumption
Returning farmland to nature
Preservation of Water & Energy
Limited range of crops suitable for vertical farming
High start-up costs
Diminishing supplies of arable land and water.
Use of Artificial Lights
Disputes with the USDA Organic Certification
In Global Vertical Farming Industry of all the included components lighting device among irrigation component, sensor, climate control, building material and others and hydroponics as growth mechanism among aeroponics and hydroponics is expected to hold the highest Industry share during the estimated periodare The growth is mainly due to Growing Population, speedy adoption of advanced farming, with increasing technological advancement in robotics and automation
By Growth Mechanism
By Growth Structure
Building-Based Vertical Farms
Shipping Container Vertical Farms
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa