Comprehensive Report Highlights Market Values, Research Methodology, Drivers, Restraints, and Regional Insights for Vertical Farming Industry
Pune, 18.08.2023 : The Vertical Farming, a rapidly evolving sector that revolutionizes agricultural practices, has exhibited remarkable growth in recent years. The market, valued at USD 22.19 billion in 2022, is poised to reach a substantial value of USD 15.78 billion by 2029, registering a notable Compound Annual Growth Rate (CAGR) of 18.6% during the forecast period (2023-2029). This comprehensive press release offers insights into the Vertical Farming, encompassing market values, research methodologies, driving factors, limitations, and regional perspectives.
Vertical Farming Report Scope and Research Methodology
The report’s research methodology draws on a blend of primary and secondary data sources, analyzing various facets impacting the Vertical Farming. Thorough investigations into market trends, policy dynamics, competitive landscapes, historical data, technological advancements, and emerging trends have been conducted. By employing comprehensive quantitative and qualitative analyses, the report presents a well-rounded understanding of the market dynamics, trends, opportunities, and challenges.
The comprehensive “Vertical Farming” report employs an intricate research methodology to provide a comprehensive analysis of the industry landscape. The report covers trends from the base year 2022 and extends into the forecast period up to 2029, with a particular emphasis on the impact of various factors, including government policies, market dynamics, competitive landscape, historical data, technological innovations, emerging technologies, and progress in related industries.
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What are Vertical Farming Market Dynamics?
Vertical farming, the innovative approach to crop cultivation, leverages technologies such as hydroponics, aquaponics, and aeroponics to maximize plant growth in vertically stacked layers. This technique, which offers benefits like increased crop yield, reduced land utilization, and environmental sustainability, is anticipated to drive market growth. The controlled environment of vertical farming mitigates the impact of weather fluctuations and minimizes the need for pesticides, contributing to improved crop quality.
Vertical farming offers ecological benefits by reducing the environmental footprint of agriculture, minimizing water usage, and eliminating the need for pesticides. It promotes sustainable practices and provides an efficient means of producing pesticide-free, locally grown produce, contributing to environmental conservation. Furthermore, vertical farming demonstrates higher yields compared to conventional agriculture, offering year-round crop production and enhancing food security. The precise control over growth conditions and minimal land requirement contribute to increased profitability.
What is Vertical Farming Segmentation?
Global Vertical Farming, by Growth mechanism type (2022-2029)
• Hydroponic
• Aeroponic
• Aquaponic
The hydroponics segment, according to Growing Mechanism, had the biggest revenue share of more than 50.0% in 2022 and is anticipated to continue to hold a commanding position throughout the projection period. Hydroponics is a well-liked growth technique due to its low installation costs and simplicity of use. It is a technique for growing plants that substitutes a mineral solution for soil around the plant roots. Additionally, the hydroponics method reduces the risk of sickness due to soil organisms. Demand for hydroponics is expected to increase as consumers become more aware of the risks associated with pesticides. Plants grown hydroponically offer a better yield than equivalent soil-grown plants due to good nutrient control.
Global Vertical Farming, by Structure (2022-2029)
• Building based structure
• Container based structure
According to Structure, the Vertical Farming was led by the shipping container segment in 2022 with a market share of more than 50.0%, and this trend is anticipated to continue during the forecast period. This growth is attributed to the building’s ability to support crop production regardless of location. One of the main benefits of container farming is that it is portable and doesn’t need a sizable piece of land or a special facility to start growing. Additionally, as competition grows, shipping container prices decrease since it is very inexpensive to acquire used containers, allowing more businesses to enter the market. Poor comparative productivity and conflict between light, heat, and layout are two drawbacks of such systems.
Global Vertical Farming, by Application (2022-2029)
• Indoor
• Outdoor
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Who are Vertical Farming Market Key Players?
• NeuroMetrix
• Cogentix Medical
• Cyberonics
• Abbott
• Boston Scientific
• Medtronic
• Nevro
• DJO Global
• Zynex
• AxioBionics
• Beurer GmbH
• EMS Physio Ltd.
• MeyerDC
• Omron Healthcare, Inc.
• RS Medical
• OG WELLNESS TECHNOLOGIES CO., LTD.
Table of content for the Vertical Farming Market includes:
1. Global Vertical Farming: Research Methodology
2. Global Vertical Farming: Executive Summary
2.1. Market Overview and Definitions
2.1.1. Introduction to Global Vertical Farming
2.2. Summary
2.2.1. Key Findings
2.2.2. Recommendations for Investors
2.2.3. Recommendations for Market Leaders
2.2.4. Recommendations for New Market Entry
3. Global Vertical Farming: Competitive Analysis
3.1. MMR Competition Matrix
3.1.1. Market Structure by region–
3.1.2. Competitive Benchmarking of Key Players
3.2. Consolidation in the Market
3.2.1 M&A by region
3.3. Key Developments by Companies
3.4. Market Drivers
3.5. Market Restraints
3.6. Market Opportunities
3.7. Market Challenges
3.8. Market Dynamics
3.9. PORTERS Five Forces Analysis
3.10. PESTLE
3.11. Regulatory Landscape by region
• Asia Pacific
• Europe
• North America
• The Middle East and Africa
• South America
3.12. COVID-19 Impact
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Regional Insights:
North America leads the Vertical Farming, propelled by technological advancements, heightened awareness of sustainable practices, and government support. Asia-Pacific and Europe also show promising growth potential, driven by factors like population growth, food security concerns, and technological integration.
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Product
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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