+1-888-308-5802     
News Contact Us

Vertical Farming Market to Depict the High Demand from Indoor Farms Application Over 2018-2024

Author : Ronak Bora | Published Date : 2019-05-13 

Global Market Insights, Inc. has recently added a report on vertical farming market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the major challenges and current growth strategies adopted by the prominent companies that are a part of the dynamic competitive spectrum of this business sphere.

On application basis there are two types of vertical farming market, namely indoor and outdoor vertical farms. Indoor farms show the growth rate of 28% over the forecast time spell. Indoor farming is extensively practiced controlled environment agriculture (CEA), warehouses and parking. This method plays an important role in satisfying the rising food demand due to increasing population and scarce land under cultivation. Indoor vertical farming helps consume lesser water and gives out more harvest than the traditional farming practiced otherwise. Irrespective of sudden climatic changes, indoor farming helps produce feed in higher quantity without crop damage.

Request for a sample of this research report @www.gminsights.com/request-sample/detail/1525

Based on technology, the vertical farming market is categorized into hydroponics, aeroponic and aquaponics. Hydroponics segment will show a CAGR of around 26% over the forecast timeframe. Aquaponics is also a popular segment as it involves rearing of fishes and using the waste water from the fish tanks to irrigate the crops for harvesting. Adoption of this technology is limited in industry due to higher maintenance and operational costs of vertical farms using this technology. However, higher profit margins associated with this technology will increase its demand during the forecast years.

Vertical farming market has been establishing its footprint at the top-notch as well as the grass root level. The number of vertical farms have been increasing exponentially across the globe, subject to the numerous advantages of this farming technique, such as disease restriction, water conservation, reduction in the usage of pesticides and herbicides, and elimination of post harvesting processing. Recently, AeroFarms, an indoor agriculture firm, established a facility in upstate New York in 2015. The facility measures almost 70,000 square feet, and is touted to be the world's largest indoor vertical farm. This farm uses the aeroponics technology to grow kale, bok choy, mustard greens, arugula, red romaine, watercress, and many other salad greens, without sunlight or soil.

Asia Pacific shows the highest growth rate of about 30% in vertical farming market from 2018 to 2024. The product market has been popular in southeast Asia for the regional difficulties such as land scarcity and high food imports. According to a report by the United Nations, Department of Economic and Social Affairs, the number of cities with 500,000 inhabitants or more is expected to grow by 30% in Asia by 2030. Rising urbanization and the population feeding requirements in countries like India, South Korea, Taiwan and others will propel the Asia-Pacific vertical farming industry over the forecast period.

Make an inquiry for buying this report @www.gminsights.com/inquiry-before-buying/1525

Based on product, the vertical farming market is segmented into aquatic species, equipment, fruits, vegetables & herbs. Equipment segment includes atmosphere controllers, led grow lights, irrigation systems & pipes. This segment will show a 33% CAGR from 2018 to 2024 as these will help to monitor the farm atmosphere, help crop growth and control the amount of nutrients in solutions.

Alternative farming techniques, having gained momentum to combat the unavailability of land space, are majorly contributing toward vertical farming market growth lately. Vertical farming is the latest phenomenon in the agriculture sector and has been gaining renewed popularity with the increasing number of urban spaces and the shortage of cultivable land. It has been observed that this type of farming has reduced transportation costs, allowed farmers to deliver their produce on time without a hitch, and reduced crop spoilage to a considerable extent. Subject to these advantages, vertical farming industry was pegged at USD 2 billion in 2017.

The foremost players in vertical farming market are Plantagon International, American Hydroponics, Sky Greens, Mirai, Urban Crop Solutions, Koninklijke Philips N.V, Green Spirits Farms, Spread Co., etc. There are many equipment manufacturers present in market such as Illumitex, Inc., Everlight Electronics Co. Ltd., etc.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us 

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: [email protected]
Blog: www.industry-source.org

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

Related News

Phosphate Rock Market: What are the main applications and challenges?

Published Date: 2019-11-12         Author: Ronak Bora

The research study on ‘Modest recovery in Global Phosphate Rock Market’ is inclusive of a detailed summary of this industry. A highly focused approach on the subjective research has been undertaken, with the description of product scope and elaborate industry insights and outlook until 2... Read More

Soy Chemicals Market Trend Evolution, Demand, Growth Revenue, Industry Size, Region and Forecasts Report to 2024

Published Date: 2019-11-12         Author: Ronak Bora

The research study on ‘Modest recovery in Global Soy chemicals Market’ is inclusive of a detailed summary of this industry. A highly focused approach on the subjective research has been undertaken, with the description of product scope and elaborate industry insights and outlook until 20... Read More

Automotive Coatings Market Growth Report By Product, Technology, Application, End-Use, Region-Forecast

Published Date: 2019-11-11         Author: Ronak Bora

Market.us has recently published a distinguished study on the global automotive coatings market. the study examines the market thoroughly and has provided a rather structured evaluation analysis of the business. this structured analysis is a collection of diagrammatic and graphical representations o... Read More

© 2019 Fractovia. All Rights Reserved