Vertical Farming Market Growth, Market Insights and Forecast to 2025Posted by rekha on September 20th, 2019 Precision Business Insights (PBI) in its report titled “Global Vertical Farming Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024” assesses the market performance over seven years forecast period over 2018-2024. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. The global vertical farming market was valued at US$ XX Mn in 2017 and increasing at a significant CAGR over the forecast timeframe owing to the urbanization, increasing demand for high quality food without the use of any chemicals such as pesticides and insecticides, and enhanced farming techniques with low dependence on environmental conditions. Howeverhigh initial investment and crop production of limited varieties are anticipated to hinder the revenue share of global vertical farming market. Global vertical farming market segmented on the basis of Growing Mechanism, Component, Structure, Crop type and region. For request sample : https://www.precisionbusinessinsights.com/request-sample?product_id=37350 Hydroponics Growth Mechanism Dominates the Global Vertical Farming Market Based on the growing mechanism, global vertical farming market segmented into hydroponics, Aeroponics, Aquaponics. Among them, hydroponics dominated the global vertical farming market in 2018 and estimated to dominate over the forecast period owing to the less complexity in installing. However, the aeroponics growth mechanism is expected to grow at the highest CAGR over forecast period owing to its advantageous as it promotes faster plant growth, so that more number of plants can be grown in lesser time than under normal conditions. North America Leads the Global Vertical Farming Market PBI’s global vertical farming market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, North America accounted for larger revenue share through 2013-2017 and expected to dominate over 2018-2024 owing to increase in concerns towards food security and nutrition, enhanced popularity of organic food, increase in urban population, and decrease in arable lands are anticipated to propel the market. Asia pacific vertical farming market projected to exhibit significant growth owing to increase in the urban population, increase in demand for chemical free food, lack of proper environmental conditions for the production of various crops and enhanced awareness regarding organic farming.
Launch of newer products, frequent product approvals, and strategic alliances are the key strategies adopted by market players Global vertical farming market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, in August 2016, Koninklijke Philips NV signed a contract with Innovatus, Inc. (Japan), one of the world’s largest vertical farms to use LED lighting. The factory has advanced, automatically-controlled equipment that monitors everything from air temperature, humidity, and CO2 concentration to nutrient liquid. Key player’s profiles in the report are
Detailed Segmentation
By Growing Mechanism:
By Structure:
By Crop Type
By Component
Geography
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