Dublin, Feb. 27, 2018 (GLOBE NEWSWIRE) -- The "Vertical Farming Market - Forecasts from 2018 to 2023" report has been added to ResearchAndMarkets.com's offering.
The global vertical farming market is expected to grow at a CAGR of 21.76% over the forecast period 2018-2023 to reach a market size of US$7.461 billion by 2023 from a market size of US$2.289 billion in 2017.
Vertical farming is the urban agricultural practice of growing food crops in vertical stacked layers, vertically inclined surfaces, or integrated in other structures. The major benefits of vertical farming include increased crop production, efficient resource use, and protection of crops from harsh climatic conditions. Increasing demand for pesticide-free food is one of the key drivers of vertical farming market. Rising global population along with growing need for increased food production with less dependency on climatic conditions is augmenting the demand for vertical farming.
Other factors such as improvement in irrigation techniques, advanced plant breeding, and development of synthetic nitrogen fertilizers will propel the growth of global vertical farming market in the forthcoming years. The market for hydroponics as a growth mechanism is projected to witness a significantly high growth as it provides benefits such as quicker crop growth, higher yield, faster harvest, and low nutrient wastage.
North America holds the largest market share of global vertical farming on account of emerging trend of indoor agriculture in the region. Asia Pacific is expected to witness the fastest market growth due to driving factors such as growing urbanization, declining area of cultivable land, growing awareness regarding good health and fitness and supportive government initiatives in emerging economies such as India and China. However, the growth of global vertical farming will be hindered due to high initial investment and limitations on the variety of crops grown.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Segmentation
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Supplier Outlook
4.6. Industry Outlook
4.7. Porter's 5 Forces Analysis
4.8. Industry Value Chain Analysis
5. Vertical Farming Market Forecast by Type (US$ billion)
5.1. Indoor
5.2. Outdoor
6. Vertical Farming Market Forecast by Components (US$ billion)
6.1. Platforms
6.2. Containers
6.3. LEDs
6.4. Others
7. Vertical Farming Market Forecast by Growth Mechanism (US$ billion)
7.1. Aeroponics
7.2. Hydroponics
7.3. Aquaponics
8. Vertical Farming Market Forecast by Geography (US$ billion)
8.1. Americas
8.1.1. North America
8.1.2. South America
8.2. Europe Middle East and Africa
8.2.1. Europe
8.2.2. Middle East and Africa
8.3. Asia Pacific
9. Competitive Intelligence
9.1. Market Share Analysis
9.2. Investment Analysis
9.3. Recent Deals
9.4. Strategies of Key Players
10. Company Profiles
10.1. Agrilution GmbH
10.2. Aerofarms
10.3. Hort Americas
10.4. Illumitex
10.5. Bright Agrotech
10.6. Everlight
10.7. Koninklijke Philips N.V
10.8. Sky Greens
10.9. Modular Farms
10.10. Suncore
For more information about this report visit https://www.researchandmarkets.com/research/vs6tw4/global_vertical?w=12
Global Vertical Farming Market 2018-2023 - Market is Expected to Grow at a CAGR of 21.76%
| Source: Research and Markets