Published : 24 May, 2018
Vertical farming is the practice of producing food in vertically stacked layers, vertically inclined surfaces and/or integrated in other structures (such as in a skyscraper, used warehouse, or shipping container). The modern ideas of vertical farming use indoor farming techniques and controlled-environment agriculture (CEA) technology, where all environmental factors can be controlled. These facilities utilize artificial control of light, environmental control (humidity, temperature, gases...) and fertigation. Some vertical farms use techniques similar to greenhouses, where natural sunlight can be augmented with artificial lighting and metal reflectors
Hydroponic systems can be lit by LEDs that mimic sunlight. Software can ensure that all the plants get the same amount of light, water and nutrients. Proper managements means that no herbicides or pesticides are required.
The Global Vertical Farming Market is expected to reach USD XX Billion by 2023 from USD XX Billion in 2017, at a CAGR of XX% from 2018 to 2023. The factors majorly driving the Vertical Farming market are worldwide population growth, demand for both more food and more crop land is ever rising.
The market is analyzed across four geographical regions, namely, North America (U.S., Canada and Mexico), Europe (UK, Germany, France and rest of Europe), Asia-Pacific (China, Japan, India and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa). Asia Pacific holds the highest market about XX% of total market share. As the demand for food is rising considering the high population base in the region along with there is a concern of depleting crop area. Whereas Europe is the fastest growing region with the CAGR of XX%.
The Vertical Farming market is segmented on the basis of By Components, Growth Mechanism, and Growth Structure and by region. There are two types of size that we considered on the basis of growth structure, Shipping Container Vertical Farms and Building-Based Vertical Farms. Shipping Container holds the largest market share. Vertical Farming Industry by component covered in this report include Irrigation Component, Lighting, Sensor, Climate Control, and Building Material. Lighting components hold the largest share of about XX% of market and it is also the fastest growing with the CAGR of XX% in the forecasted period. There are various regulatory bodies actively looking after company rules & regulations for addressing Farming policies. USDA National Organic Program are some of the biggest influencing regulatory bodies at global and at regional level.
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