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NEW YORK, May 24, 2022 /PRNewswire/ — The latest market analysis report titled Vertical Farming Market by Crop Type and Geography – Forecast and Analysis 2022-2026has been added to Technavio’s catalog. The report predicts the market to witness a potential growth difference of USD 6.70 billion from 2021 to 2026. The market is also anticipated to garner an accelerating growth momentum at a CAGR of 21.93% during the forecast period. The vertical farming market outlook report provides a comprehensive study on the factors influencing the market’s growth during the projected period.
Vertical Farming Market: Key Market Dynamics
The rising need to meet the growing demand for food products is expected to influence the vertical market growth positively. The technologies used in vertical farming can be used with various farming systems in multi-level designs and provide more area than single-level systems. This , in turn, aids in improving the crop yield and providing a high-profit agricultural activity for the end-users. Furthermore, growing demand for smart/advanced vertical farming technologies with automated systems is one of the key vertical farming market trends fueling market growth .
However, the limitations of vertical farming is one of the factors challenging the vertical farming market growth. Vertical farming does not provide calorie-rich foods as they require high food security. Domesticated grain crops such as wheat, barley, corn, and rice are mainly produced using traditional farming methods. Hence, the limitations of vertical farming can affect the growth of the vertical farming market during the forecast period.
Get more details at: https://www.technavio.com/report/vertical-farming-market-industry-analysis
Vertical Farming Market: Revenue-generating Segment Highlights
- Tomato: The tomato crop type segment held the largest vertical farming market share in 2021. The segment will continue to account for the largest market share during the forecast period. Tomatoes are popular in the food and beverage industry and are used in abundance in hotels, restaurants, and fast-food outlets worldwide. In addition, the fast-food business is growing across the world, propelling the demand for tomatoes. Hence, increasing demand for tomatoes is expected to increase the demand for vertical farming for growing tomatoes during the forecast period.
- Lettuce
- Bell and chilli peppers
- Strawberry
- Others
Vertical Farming Market: Geographic Insights
- APAC: 37% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for the vertical farming market in APAC. Market growth in this region will be faster than the growth of the market in South America. The increasing population and less availability of fertile land will facilitate the vertical farming market growth in APAC over the forecast period.
- North America
- Europe
- South America
- MEA
Download Segment-based Market Highlights with this report sample
Vertical Farming Market: Competitive Landscape
The vertical farming market is fragmented and the vendors are deploying growth strategies such as mergers and acquisitions to compete in the market. To make the most of the opportunities and recover from post-pandemic impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Companies are launching innovative products and solutions to garner traction among the target audience. For instance, Agrilution.com offers Plantcube services which is a self-contained system focused entirely on growing leafy greens, herbs, and microgreens at an optimum temperature with automatic watering, thus plants grow 2 to 3 times faster, contain up to 30 x more nutrients, and have a more intense flavor. Freightfarms.com offer GREENERY S which is a vertical hydroponic farm built entirely inside shipping container, thus contain freight farms provided with high-efficiency light-emitting diode to provide light wav elengths with strategic light schedules and power levels to stimulate faster plant growth and development.
- 4D Bios Inc.
- Agrilution Systems GmbH
- ALTIUS FARMS
- AmHydro
- Bowery Farming Inc.
- Eden Green Technology
- Freight Farms Inc.
- Future Crops
- Green Sense Farms Holding Inc.
- Grow Pod Solutions
- Heliospectra AB
- IGS Ltd.
- OSRAM GmbH
- SANANABIO
- Signify NV
- Sky Greens
- SPREAD Co. Ltd.
- Urban Crop Solutions
- Valoya Oy
- Vertical Farm Systems Pty Ltd
- Vertical Future Ltd.
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What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2020, 2021, until 2025
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Related Reports:
Indoor Farming Market by Application and Geography – Forecast and Analysis 2022-2026
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Vertical Farming Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 21.93% |
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Market growth 2022-2026 |
$6.70 billion |
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Market… |
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