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Global Vertical Farming Analysis and Forecast , 2016 - 2022

The growth in the market is accredited to the overall cost effectiveness of the technology, increasing global food demand and the customization option provided to the users. The global vertical farming market is expected to grow at a CAGR of 27.77% through 2015 to 2022.

SKU: AG16
Published Year: 2016
 
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The emerging need of sustainable farming operations, decreasing  arable land and scarcity of natural resources enabled the introduction of vertical farming at the global level. The market largely comprises of growth mechanisms, components and fixtures required for the viable vertical farming operations. The growth in the market is accredited to the overall cost effectiveness of the technology, increasing global food demand and the customization option  provided to the users. The global vertical farming market is expected to grow at a CAGR of 27.77% through 2015 to 2022.

The report is a compilation of the different segments of global vertical farming market, including market breakdown by the components, growth mechanisms, and different geographical areas. Herein the revenue generated from the growth mechanism, namely:  Aeroponics, hydroponics & others; and components, namely: lighting, hydroponic, climate controls, and sensing components is tracked to calculate the overall market size. While highlighting the key driving and restraining forces for this market, the report also provides a detailed  summary of the vertical farming systems. It also includes the key participants involved in the industry at the relevant sections. 

The report answers the following questions about the global vertical farming market:
•    What are the different factors driving the market and how will the impact change through the forecast period?
•    What are the major factors challenging the growth of global vertical farming market and how can they be addressed through the forecast period?
•    How will the market players leverage on key developments such as acquisitions, partnerships, and product launch among others?
•    Which region will lead the global vertical farming market by the end of the forecast period?
•    What are the prevalent components types and what is the market size for each of them?
•    What are the prevalent growth mechanisms types and what is the market size for each of them?
•    How will the competitive rivalry evolve through the forecast period?
•    How are the regulatory bodies participating in the industry?

The report puts special emphasis on the market share of the components employed in vertical farming, owing to the changing paradigms in the industry. In spite of this, due to the high capital investment and lack of government support, a majority of potential new entrants resist from adopting vertical farming methods. The reports further includes a thorough analysis of the impact of the five major forces to understand the overall attractiveness of the industry. This  segment also focuses on the evolving key trends and value chain of vertical farming industry.

The most often used strategy for developing a better hold on to the market has been through product launches, followed by partnerships & collaborations. Moreover, the company profile section  highlights  significant information about the key companies involved along with their financial positions, key strategies & developmental activities of recent years. 

Further, the report includes an exhaustive analysis of the geographical split into North America, Europe, Asia-Pacific, and Rest of the World (ROW). Each geography details the individual push and pull forces in addition to the key players from that region. The prominent players operating in the global vertical farming market are Aerofarms, Illumitex, Koninklijke Philips, Everlight Electronics, and FarmedHere  among others.

TABLE OF CONTENT
Executive Summary
1 Report Scope and Methodology
1.1 Scope of the Report
1.2 The Vertical Farming Market Research Methodology
1.2.1 Limitations
1.2.2 Primary Data Sources
1.2.3 Secondary Data Sources
2 Industry Analysis
2.1 Regulatory Framework
2.1.1 Association for Vertical Farming
2.1.2 Urban Agriculture & Vertical Farming Act of 2014
2.1.3 Urban Agriculture State Legislation
2.2 Value Chain Analysis
2.3 Future Trends in the Vertical Farming Market
2.4 Vertical Farming Investment Landscape
3 Market Dynamics
3.1 Market Drivers
3.1.1 Customizable Environment
3.1.2 Stabilized Yearly Food Supply
3.1.3 Overall Cost Effectiveness
3.1.4 Increasing Population Leading to Growing Food Demand
3.2 Market Restraints
3.2.1 High Initial Investment
3.2.2 Lack Of Awareness About the Practice
3.2.3 Lack of Crop Varieties Suitable for Vertical Farming
3.2.4 Lack of Government Support
3.3 Market Opportunities
3.3.1 Decreasing Arable Land
3.3.2 Deals with Dermatological Problems
3.3.3 Favourable for the Production of Biopharmaceuticals & Sensitive Crops
3.3.4 Global Climate Change
3.3.5 Developments in the Field of Renewable Energy
4 Competitive Insights
4.1 Key Strategies & Developments in Vertical Farming Market
4.1.1 Partnerships, Collaborations & Joint Ventures
4.1.2 Product Launches
4.1.3 Business Expansion
4.1.4 Others (Events & Recognitions)
4.2 Industry Attractiveness
5 Vertical Farming Market by Components
Key Findings
5.1 Market Overview
5.2 Lighting Devices
5.3 Hydroponic Components
5.4 Climate Control
5.5 Sensing Devices
6 Vertical Farming Market by Growth Mechanism
Key Findings
6.1 Market Overview
6.2 Aeroponics
6.3 Hydroponics
6.4 Others
7 Vertical Farming Market by Geography
Key Findings
7.1 Market Overview
7.2 North America
7.2.1 The U.S.
7.2.2 Others
7.3 Europe
7.3.1 Germany
7.3.2 The U.K.
7.3.3 France
7.3.4 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 Japan
7.4.3 South Korea
7.4.4 Rest of Asia-Pacific
7.5 Rest of the World
7.5.1 Middle East & Africa
7.5.2 South America
8 Company Profiles
8.1 Aero Farms
8.1.1 Company Overview
8.1.2 Key Strategies & Developments
8.2 Agrilution
8.2.1 Company Overview
8.3 American Hydroponics
8.3.1 Company Overview
8.3.2 Key Strategies & Developments
8.4 Everlight Electronics co. Ltd
8.4.1 Company Overview
8.4.2 Key Strategies & Developments
8.5 Hort Americas
8.5.1 Company Overview
8.5.2 Key Strategies & Developments
8.6 Illumitex Inc.
8.6.1 Company Overview
8.6.2 Key Strategies & Developments
8.7 Indoor Harvest Corporation
8.7.1 Company Overview
8.7.2 Key Strategies & Developments
8.8 Koninklijke Philips n.v
8.8.1 Company Overview
8.8.2 Financials
8.8.2.1 Overall Financials
8.8.2.2 Geographic Revenue Mix
8.8.2.3 Segment Revenue Mix
8.8.2.4 Financial Summary
8.8.3 Key Strategies & Developments
8.9 Moflo Aeroponics
8.9.1 Company Overview
List of Tables
Table 2.1 AVF Member Companies
Table 2.2 Urban Agriculture State Legislation
Table 2.3 Investment Landscape
Table 3.1 Present & Estimated Change in Population in the Ten Most Populous Countries
Table 3.2 Decrease in Arable Land Area
Table 3.3 World Farming Calendar
Table 5.1 Global Vertical Farming Market by Components, 2015-2022
Table 6.1 Global Vertical Farming Market by Growth Mechanism, 2015-2022
Table 7.1 Global Vertical Farming Market by Geography, 2015-2022
Table 7.2 North America Vertical Farming Market by Country, 2015-2022
Table 7.3 Europe Vertical Farming Market by Country, 2015-2022
Table 7.4 APAC Vertical Farming Market by Country, 2015-2022
Table 7.5 R.o.W. Vertical Farming Market by Country, 2015-2022
List of Figures
Figure 1 Global Vertical Farming Market Snapshot
Figure 2 Global Vertical Farming Market by Component (%) 2015 and 2022
Figure 3 Vertical Farming Market by Growth Mechanism (%) 2015 and 2022
Figure 4 Vertical Farming Market by Geography (%) 2015 and 2022
Figure 1.1 The Vertical Farming Market Scope
Figure 1.2 Top-Down Approach for Market Estimation
Figure 2.1 Declaration of the Policy
Figure 2.2 Value Chain Analysis of Vertical Farming Market
Figure 3.1 Market Dynamics of Vertical Farming Market & the Intensity of Impact
Figure 4.1 Organic & Inorganic Strategies Adopted by the Key Players
Figure 4.2 Total Number of Strategies & Developments
Figure 4.3 Key Partnerships & Collaborations (2014-16)
Figure 4.4 Key Product Launches (2014-16)
Figure 4.5 Key Business Expansion Activities (2014-16)  
Figure 4.6 Porter’s Five Forces Analysis for the Vertical Farming Industry
Figure 5.1 Global Vertical Farming Market Size ($Million) by Component, 2016 & 2022
Figure 5.2 Global Vertical Farming Market Size ($Million) by Lighting Device, 2015-2022
Figure 5.3 Global Vertical Farming Market Size ($Million) by Hydroponic Component, 2015-2022
Figure 5.4 Global Vertical Farming Market Size ($Million) by Climate Control, 2015-2022
Figure 5.5 Global Vertical Farming Market Size ($Million) by Sensing Device, 2015-2022
Figure 6.1 Global Vertical Farming Market Size ($Million) by Growth Mechanism, 2016 & 2022
Figure 6.2 Advantages & Disadvantages Of Using Aeroponics
Figure 6.3 Global Vertical Farming Market Size ($ Million) by Aeroponic, 2015-2022
Figure 6.4 Global Vertical Farming Market Size ($Million) by Hydroponics, 2015-2022
Figure 6.5 Advantages & Disadvantages of Using Hydroponics
Figure 7.1 Global Vertical Farming Market Size ($ Million) by Geography, 2016 & 2022
Figure 7.2 North America Vertical Farming Market ($ Million) by Country, 2015-2022
Figure 7.3 Europe Vertical Farming Market Size ($ Million) by Country, 2015-2022
Figure 7.4 APAC Vertical Farming Market Size ($ Million) by Country, 2015-2022
Figure 7.5 Population Statistics of China
Figure 7.6 R.O.W. Vertical Farming Market Size ($ Million) by Country, 2015-2022
Figure 8.1 Overall Financials, 2013-15 ($Million)
Figure 8.2 Geographic Revenue Mix, 2013-15 ($Million)
Figure 8.3 Segment Revenue Mix, 2013-15 ($Million)

With regard to the growing world population and the rise in the demand for food sufficiency, the limited land resources won’t be sufficient to cater to the current and future demands. Such a situation has led to a stronger emphasis on opting for alternative farming techniques, vertical farming being one of them. In this unconventional farming method, food products are grown in vertically stacked layers by using artificial lighting. The global vertical farming market is expected to grow over $6.81 billion by 2022 at a double digit CAGR through the forecast period. 

The option to customize the growing environment, all year round food supply, and minimum overheads and costs are some of the factors responsible for the growth of this market. However, the market consists of certain challenges as well which are inhibiting the overall growth for the market, such as limited market scope, lack of awareness, and high initial investment requirement.

In the technique of vertical farming, the components and fixtures are combined with different growth mechanisms. These components are lighting components, hydroponic components, climate controls, and sensing devices. The replacement of traditional lighting with LED grow lights has led to the domination of lighting components in the market. However, the climate control devices are estimated to grow at the highest CAGR, primarily because these devices are one of the vital requirements for the system in order to manage and customize the environment for growth. 

The vertical farming industry provides a range of growing mechanisms to its users. The user can keep the roots of the plant in nutrient solution (hydroponic) or just misting them at regular intervals (aeroponics). The most commonly used growth mechanism i.e. hydroponics is generating the maximum revenue in 2015.  An alternate growth mechanism is aeroponics, which is expected to grow at the highest rate.

The market is dominated by Asia-Pacific (APAC) due to a continuous increase in the ratio of urban population and also due to a decline in cultivable land. However, it is expected that Europe will grow at the highest CAGR through 2015 to 2022. North America, with the U.S. leading, will also continue to generate significant revenue through the forecast period. 

The competitive landscape for the vertical farming market demonstrates an inclination of companies which are interested in adopting strategies such as collaborations, product launches, mergers, and contracts among others. Some of the key players in the industry are Aerofarms, Everlight Electronics, Illumitex, FarmedHere, Koninklije Philips N.V., and American Hydroponics.

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