Vertical Farming Market Analysis Report By Offering (Lighting, Climate Control), By Growing Mechanism (Hydroponics, Aquaponics), By Structure, By Fruits, Vegetables & Herbs, And Segment Forecasts 2026
Vertical Farming Market By Growth Mechanism (Aeroponics, Hydroponics, Aquaponics), Structure (Building-Based, Shipping Container), Type (Biopesticides, Biostimulants, Biofertilizers), Application (Indoor, Outdoor), Crop Type (Leafy Green, Pollinated Plants, Nutraceutical Plants), Component (Lighting, Hydroponic Component, Climate Control, Sensors), Geography (Asia-Pacific, North America, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
The vertical farming is performed in indoor conditions where vertically stacked trays are used to grow plants with the help of artificial lighting. This is being utilized for manufacturing various crop such as latus, cabbage and other leafy vegetables effectively. Vertical farming is considered to be the more sustainable and revolutionary method of agriculture than traditional agriculture and greenhouse farming. It requires very less water and saves considerable soil and space. This farming method is useful in challenging environments such as cities, mountainside towns and deserts. Global vertical farming market is projected to register healthy CAGR of 23.5% in the forecast period of 2019 to 2026
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.Segmentation
Global vertical farming market is segmented into six notable segments that are growth mechanism, structure, type, application, crop type and component.
· On the basis of growth mechanism, the market is segmented into aeroponics, hydroponics, and aquaponics
o In June 2019, Sky Greens has tasted the feasibility of exhibiting vertical farms on the rooftop of schools, multi-storey carparks and Housing Development Board (HDB) buildings. This development helps the company to increase the customer base.
· On the basis of structure, the market is segmented into building-based and shipping container
o In April 2019, Bowery Farming Inc. indoor farming company announced the development in the sales strategy. The Bowery products will now available with two grocery delivery services such as amazon fresh and peapod. The company will increase the customer base mostly in urban population and revenue through this strategy.
· On the basis of type, the market is segmented into biopesticides, biostimulants and biofertilizers
o In November 2018, Fluence by OSRAM has been awarded as top lighting company of 2018 in Canadian Cannabis Awards. This award will help the company to get worldwide recognition in horticulture lighting.
· On the basis of application, the market is segmented into indoor and outdoor
o In July 2018, Agrilution, a complete vertical farming ecosystem provider has been awarded at Green Product Award 2018 event. The plantcube product brought the innovation in urban farming and the award is given for the intelligent water supply technology. This award recognition will increase the company brand value in the market.
· On the basis of crop type, the market is segmented into leafy green, pollinated plants and nutraceutical plants
o In March 2018, EVERLIGHT ELECTRONICS CO., LTD demonstrated its 5630X-ELB LED series and horticulture fit LEDs as well as other lighting products, such as luminaires for fish and horticulture lighting. These lightings have advantages such as luminous stability and efficiency to provide best possible solution for industrial, professional, and commercial applications. This development will help the company to enhance their product portfolio.
· On the basis of component, the market is segmented into lighting, hydroponic components, climate control and sensors
o In February 2017, Philips Lighting and Ecobain Gardens band up together to build first commercial vertical farm operation in Canada. This will improve crop quality and consistency. Through this partnership, Philips lighting help Ecobain to accelerate growing cycle and improve the production at commercial scale. This partnership will give attractive return on investment to customers through healthier and nutrient rich food which results in attracting new customers.
Offering Insights
· The climate control segment is expected to register a high CAGR over the projected period. Increasing adoption of hydroponic components by farmers to minimize the weight load and infrastructure needed to support the equipment is anticipated to drive the demand for hydroponic components.
· Climate control is a kind of agriculture where plants are grown inside a greenhouse under the controlled environment that allows a grower to maintain and monitor the proper supply of light, carbon dioxide, water, humidity, pH levels, and nutrients for the crop growth. The main aim of climate control farming is to facilitate the protection and maintain optimum growth conditions throughout the development period of a crop. In many cases, climate-controlled farming is used to ensure that plants receive optimal nutrients for their growth.
· Farming with the help of lighting technology ensures consistent plant growth by reducing the heat stress on the root zone and providing uniform lighting. The use of LED lighting technology acts as a supplementary light source to the sun and ensures increased productivity with minimum power usage. Sensors enable the comprehensive monitoring of the external environment and crop condition. Various sensors such as nutrient sensor, humidity sensor, and light sensor are used to monitor crop growth. Monitoring also enables notification of changes and alerts.
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