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Vertical Farming Market with COVID-19 Impact Analysis by Growth Mechanism (Hydroponics, Aeroponics, and Aquaponics), Structure (Building Based and Shipping Container), Offering, Crop Type, and Region - Global Forecast to 2025

August 2020 | 152 pages | ID: VB2FF9428FCEN
MarketsandMarkets

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“The vertical farming market is projected to grow at a CAGR of 20.2% from 2020 to 2025.”

The vertical farming market is projected to reach USD 7.3 billion by 2025 from USD 2.9 billion in 2020; it is expected to grow at a CAGR of 20.2% during the forecast period. The vertical farming market in APAC is projected to grow at the highest CAGR during the forecast period. Countries such as China, Japan, and Singapore are major contributors to the growth of the vertical farming market in APAC. The growth prospective of the vertical farming market in APAC is promising with a steady growth rate in the near future. The COVID—19 pandemic has affected the market in APAC, however, a steady recovery by 2021 is expected with the significant investments and government support. The major restraints for the growth of the market are lack of skilled workforce and technical know-how, and limited crop range; and high initial investments. Maintenance of air circulation in a vertical farm, and vertical farming on a large scale act as major challenges for the growth of the market.

“Hydroponics segment projected to hold the largest share of the vertical farming market during the forecast period.”

Hydroponics mechanism is easier to set up, has a higher return on investments (RoI), and incur less cost than other mechanisms. With maximum amount of water recycled with minimal wastage, hydroponics is the most water-efficient method of farming. On the contrary, aeroponics requires a high initial investment and plants can die in just a few hours due to malfunctioning or failure of mist spraying nozzles. As hydroponics provides more advantages than other mechanisms it is used widely by commercial growers.

“Among structure, the shipping container vertical farms segment to grow at a higer CAGR between 2020 and 2025.”

The vertical farming market is largely dominated by the building-based vertical farms segment as leading companies in the market are involved in this type of farming. However, the market for shipping container-based vertical farms is likely to register a higher CAGR as it is a ready-to-use (plug and play model) solution that can help to cater to the rising demand for fresh and high-quality produce. A shipping container-based vertical farm is ideal for serving a small base of consumer, nevertheless, can be ineffective and costly to serve a larger consumer base. Shipping container-based vertical farms are flexible, easy to operate, and portable. The rising demand for fresh produce is expected to create notable growth opportunities for this segment in the next few years.

“Lighting to hold the largest share of the vertical farming hardware market during the forecast period.”

Sunlight is a vital resource in traditional farming. However, vertical farming highly depends on artificial lights. Artificial light acts as a substitute for the sunlight and is required to provide sufficient light intensities that enable crop growth. The amount and duration of the light are the main aspects considered while providing lighting for plants. Lights either provide a light spectrum like that of the sun or a spectrum that caters to the needs of the plants. Outdoor lighting conditions can be created with varying colors, temperatures, and spectral outputs from the grow lights, as well as varying the intensity output of the lamps.

“APAC projected to hold the largest share of the vertical farming market in 2025.”

APAC is the base to numerous small and large vertical farms operating in different countries of the region. Countries in APAC are densely populated, and the number is increasing exponentially. This certainly creates a demand to have a substitute for conventional farming as it lacks the capacity to serve the growing population. Vertical farming reduces the dependency on field farming and aids in avoiding the need for new farmland due to the increasing need for food. Countries such as China, Singapore, Hong Kong, South Korea, and Japan are technologically equipped, complementing the growth opportunities for the vertical farming market. The growth of the vertical farming market in this region can also be attributed to the increasing awareness about alternative farming methods and limited agricultural fertile land.

Breakdown of profiles of primary participants:
  • By Company Type: Tier 1 = 40%, Tier 2 = 45%, and Tier 3 = 15%
  • By Designation: C-level Executives = 40%, Directors = 30%, and Others = 30%
  • By Region: North America = 20%, Europe = 35%, APAC = 30%, and RoW = 15%
Signify (Netherlands), Osram (Germany), Freight Farms (US), AeroFarms (US), Sky Greens (Singapore), Spread Co., Ltd. (Japan), Plenty (US), Valoya (Finland), Everlight Electronics Co., Ltd. (Taiwan), and Heliospectra (Sweden) are a few major players in the vertical farming market.

Research Coverage:

This report segments the vertical farming market based on growth mechanism, structure, crop type, and offering. The report gives a detailed view of the market across 4 main regions: North America, Europe, APAC, and RoW.

Reasons to Buy the Report:
  • This report includes statistics pertaining to the vertical farming market based on growth mechanism, structure, crop type, offering, and region, along with their respective market sizes
  • Major drivers, restraints, opportunities, and challenges for the vertical farming market have been provided in detail in this report
  • The report includes illustrative segmentation, analysis, and forecast for the vertical farming market based on its segments and subsegments.
1 INTRODUCTION

1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION AND SCOPE
  1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
  1.3.1 MARKETS COVERED
  1.3.2 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY

2.1 RESEARCH DATA
FIGURE 1 VERTICAL FARMING MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION
FIGURE 2 VERTICAL FARMING MARKET: RESEARCH DESIGN
  2.1.1 SECONDARY DATA
    2.1.1.1 Secondary sources
  2.1.2 PRIMARY DATA
    2.1.2.1 Breakdown of primaries
    2.1.2.2 Key data from primary sources
    2.1.2.3 Key industry insights
  2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): REVENUE GENERATED BY COMPANIES FROM HARDWARE/SOFTWARE/ SERVICES OFFERED IN VERTICAL FARMING MARKET
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (DEMAND SIDE): MARKET FOR VERTICAL FARMING BY DIFFERENT REGIONS
  2.2.1 BOTTOM-UP APPROACH
    2.2.1.1 Approach for obtaining market size using bottom-up analysis
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
  2.2.2 TOP-DOWN APPROACH
    2.2.2.1 Approach for obtaining market size using top-down analysis
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 7 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
FIGURE 8 ASSUMPTIONS FOR RESEARCH STUDY

3 EXECUTIVE SUMMARY

FIGURE 9 HYDROPONICS GROWTH MECHANISM SEGMENT TO DOMINATE VERTICAL FARMING MARKET DURING THE FORECAST PERIOD
FIGURE 10 SHIPPING CONTAINER-BASED VERTICAL FARMS SEGMENT TO EXHIBIT A HIGHER CAGR DURING THE FORECAST PERIOD
FIGURE 11 LETTUCE ARE THE MOST COMMONLY GROWN CROPS ACROSS DIFFERENT VERTICAL FARMS
FIGURE 12 SERVICES TO REGISTER HIGHEST GROWTH AMONG OFFERING IN VERTICAL FARMING MARKET DURING THE FORECAST PERIOD
FIGURE 13 APAC TO DOMINATE VERTICAL FARMING MARKET DURING THE FORECAST PERIOD
3.1 COVID-19 IMPACT ON VERTICAL FARMING MARKET
FIGURE 14 VERTICAL FARMING MARKET – SCENARIO ANALYSIS

4 PREMIUM INSIGHTS

4.1 ATTRACTIVE OPPORTUNITIES IN VERTICAL FARMING MARKET
FIGURE 15 ADVANCEMENTS IN LED LIGHTING SOLUTIONS TO BOOST THE GROWTH OF VERTICAL FARMING MARKET
4.2 VERTICAL FARMING MARKET IN APAC, BY GROWTH MECHANISM AND STRUCTURE
FIGURE 16 HYDROPONICS GROWTH MECHANISM AND BUILDING-BASED VERTICAL FARMS SEGMENTS HELD LARGEST MARKET SHARES IN APAC, IN 2019
4.3 VERTICAL FARMING MARKET, BY HARDWARE
FIGURE 17 LIGHTING SEGMENT TO DOMINATE MARKET DURING THE FORECAST PERIOD
4.4 COUNTRY-WISE VERTICAL FARMING MARKET GROWTH RATE
FIGURE 18 CHINA TO RECORD HIGHEST CAGR IN VERTICAL FARMING MARKET DURING THE FORECAST PERIOD

5 MARKET OVERVIEW

5.1 MARKET DYNAMICS
FIGURE 19 VERTICAL FARMING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
  5.1.1 DRIVERS
FIGURE 20 VERTICAL FARMING MARKET DRIVERS AND THEIR IMPACT
    5.1.1.1 High yield and numerous other benefits associated with vertical farming over conventional farming
    5.1.1.2 Advancements in light-emitting diode (LED) technology
    5.1.1.3 Year-round crop production irrespective of weather conditions
FIGURE 21 DAMAGE AND LOSS TO CROPS, BY TYPE OF CALAMITY (2003–2016)
    5.1.1.4 Requirement of minimum resources
FIGURE 22 WORLD POPULATION (2015–2050)
  5.1.2 RESTRAINS
FIGURE 23 VERTICAL FARMING MARKET RESTRAINTS AND THEIR IMPACT
    5.1.2.1 Lack of skilled workforce and technical know-how, and limited crop range
    5.1.2.2 High initial investments
  5.1.3 OPPORTUNITIES
FIGURE 24 VERTICAL FARMING MARKET OPPORTUNITIES AND THEIR IMPACT
    5.1.3.1 Positive impacts on the environment to increase the adoption of vertical farming
    5.1.3.2 Potential market opportunities in APAC and the Middle East
    5.1.3.3 Cannabis cultivation through vertical farming
  5.1.4 CHALLENGES
FIGURE 25 VERTICAL FARMING MARKET CHALLENGES AND THEIR IMPACT
    5.1.4.1 Maintenance of air circulation in a vertical farm
    5.1.4.2 Vertical farming on a large scale

6 INDUSTRY TRENDS

6.1 VALUE CHAIN ANALYSIS
FIGURE 26 VALUE CHAIN ANALYSIS OF THE VERTICAL FARMING MARKET: MAJOR VALUE IS ADDED BY HARDWARE MANUFACTURERS, TECHNOLOGY PROVIDERS, AND SYSTEM INTEGRATORS
6.2 CASE STUDY ANALYSIS
  6.2.1 AEROFARMS
TABLE 1 BENEFITS OF IOT DEPLOYMENT FOR INDOOR VERTICAL FARMS THAT USES DATA-DRIVEN INSIGHTS TO INCREASE YIELD, CONSERVE RESOURCES, AND IMPROVE QUALITY OF PRODUCE
  6.2.2 RIAT
TABLE 2 SIGNIFY’S (NETHERLANDS) LED LIGHTING SOLUTION USED BY RIAT FOR GROWING TOMATOES AND CUCUMBERS IN A VERTICAL FARM
  6.2.3 AVRIL
TABLE 3 AVRIL INSTALLED A VERTICAL FARM IN THEIR NEW BRANCH
  6.2.4 KARMA FARM
TABLE 4 KARMA FARM ADDED HYDROPONIC SOLUTION TO ITS TRADITIONAL FARM SOLUTION TO ACHIEVE SUSTAINABILITY
6.3 REGION-WISE RECENT DEVELOPMENTS IN VERTICAL FARMING MARKET
TABLE 5 DEVELOPMENTS IN NORTH AMERICA
TABLE 6 DEVELOPMENTS IN EUROPE
TABLE 7 DEVELOPMENTS IN APAC
TABLE 8 DEVELOPMENTS IN MIDDLE EAST
6.4 MARKET MAP
6.5 TECHNOLOGY ANALYSIS
6.6 IMPACT OF COVID-19 ON THE VERTICAL FARMING MARKET
  6.6.1 OVERVIEW AND STATISTICS
  6.6.2 IMPACT ON VERTICAL FARMING ECOSYSTEM

7 VERTICAL FARMING MARKET, BY GROWTH MECHANISM

7.1 INTRODUCTION
FIGURE 27 HYDROPONICS GROWTH MECHANISM SEGMENT TO DOMINATE VERTICAL FARMING MARKET DURING THE FORECAST PERIOD
TABLE 9 VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
7.2 HYDROPONICS
  7.2.1 INSTALLATION OF HYDROPONIC MECHANISM IS A SIMPLE AND LOW-COST PROCEDURE
TABLE 10 HYDROPONICS VERTICAL FARMING MARKET, BY REGION, 2017–2025 (USD MILLION)
7.3 AEROPONICS
  7.3.1 USE OF PATENTED TECHNOLOGY BY FARMING COMPANIES OFFERS HIGH PRODUCTIVITY
TABLE 11 AEROPONICS VERTICAL FARMING MARKET, BY REGION, 2017–2025 (USD MILLION)
7.4 AQUAPONICS
  7.4.1 LESS TO NO USAGE OF CHEMICALS DUE TO LOW SUSCEPTIBILITY TO PESTS AND DISEASES
TABLE 12 AQUAPONICS VERTICAL FARMING MARKET, BY REGION, 2017–2025 (USD MILLION)

8 VERTICAL FARMING MARKET, BY STRUCTURE

8.1 INTRODUCTION
FIGURE 28 BUILDING-BASED VERTICAL FARM TO HOLD A LARGER MARKET SHARE IN 2025
TABLE 13 VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
8.2 BUILDING-BASED VERTICAL FARMS
  8.2.1 BUILDING-BASED VERTICAL FARMS ARE PROMINENT VERTICAL FARMING STRUCTURES
TABLE 14 BUIDING-BASED VERTICAL FARMING MARKET, BY REGION, 2017–2025 (USD MILLION)
8.3 SHIPPING CONTAINER-BASED VERTICAL FARMS
  8.3.1 EMERGING VERTICAL FARM SOLUTIONS FOR SMALL FARMERS TO DRIVE THE GROWTH OF MARKET
TABLE 15 SHIPPING CONTAINER-BASED VERTICAL FARMING MARKET, BY REGION, 2017–2025 (USD MILLION)

9 VERTICAL FARMING MARKET, BY CROP TYPE

9.1 INTRODUCTION
FIGURE 29 LETTUCE TO BE LEADING SEGMENT OF VERTICAL FARMING MARKET BY CROP TYPE DURING THE FORECAST PERIOD
TABLE 16 VERTICAL FARMING MARKET, BY CROP TYPE, 2017–2025 (USD MILLION)
9.2 VEGETABLES
  9.2.1 LETTUCE IS MOSTLY CULTIVATED THROUGH VERTICAL FARMING ACROSS DIFFERENT COUNTRIES
9.3 FRUITS
  9.3.1 INCREASING DEMAND FOR HIGH-QUALITY ORGANIC FRUITS IS PROMOTING THE ADOPTION OF VERTICAL FARMING
TABLE 17 NORTH AMERICA VERTICAL FARMING MARKET, BY CROP TYPE, 2017–2025 (USD MILLION)
TABLE 18 EUROPE VERTICAL FARMING MARKET, BY CROP TYPE, 2017–2025 (USD MILLION)
TABLE 19 APAC VERTICAL FARMING MARKET, BY CROP TYPE, 2017–2025 (USD MILLION)
TABLE 20 ROW VERTICAL FARMING MARKET, BY CROP TYPE, 2017–2025 (USD MILLION)

10 VERTICAL FARMING MARKET, BY OFFERING

10.1 INTRODUCTION
FIGURE 30 VERTICAL FARMING MARKET BY HARDWARE TO HOLD LARGEST MARKET SHARE IN 2025
TABLE 21 VERTICAL FARMING MARKET, BY OFFERING, 2017–2025 (USD MILLION)
FIGURE 31 LIGHTING SEGMENT TO DOMINATE THE VERTICAL FARMING HARDWARE MARKET DURING THE FORECAST PERIOD
TABLE 22 VERTICAL FARMING MARKET, BY HARDWARE, 2017–2025 (USD MILLION)
10.2 HARDWARE
  10.2.1 LIGHTING
TABLE 23 VERTICAL FARMING MARKET FOR LIGHTING, BY REGION, 2017–2025 (USD MILLION)
TABLE 24 VERTICAL FARMING MARKET FOR LIGHTING, BY COMPONENT, 2017–2025 (USD MILLION)
    10.2.1.1 Lighting Fixtures
      10.2.1.1.1 Declining cost of LEDs and technological advancements
TABLE 25 VERTICAL FARMING MARKET FOR LIGHTING FIXTURES, BY REGION, 2017–2025 (USD MILLION)
    10.2.1.2 Lighting Controls
      10.2.1.2.1 Less power consumption and limited heat discharge make LEDs ideal for vertical farming over other lamps
TABLE 26 VERTICAL FARMING MARKET FOR LIGHTING CONTROLS, BY REGION, 2017–2025 (USD MILLION)
  10.2.2 HYDROPONICS COMPONENTS
    10.2.2.1 Appropriate supply of nutrient-based water to the roots of crops assures suitable growth
TABLE 27 VERTICAL FARMING MARKET FOR HYDROPONIC COMPONENTS, BY REGION, 2017–2025 (USD MILLION)
  10.2.3 CLIMATE CONTROL
    10.2.3.1 Challenge to maintain proper air circulation in a vertical farm has increased the demand for effective HVAC system
TABLE 28 VERTICAL FARMING MARKET FOR CLIMATE CONTROL, BY REGION, 2017–2025 (USD MILLION)
  10.2.4 SENSORS
    10.2.4.1 Data-driven production of crops in vertical farm reduces requirement of human intervention
TABLE 29 VERTICAL FARMING MARKET FOR SENSORS, BY REGION, 2017–2025 (USD MILLION)
10.3 SOFTWARE
10.4 SERVICES

11 GEOGRAPHY ANALYSIS

11.1 INTRODUCTION
FIGURE 32 APAC TO DOMINATE VERTICAL FARMING MARKET DURING THE FORECAST PERIOD
TABLE 30 VERTICAL FARMING MARKET, BY REGION, 2017–2025 (USD MILLION)
11.2 NORTH AMERICA
TABLE 31 NORTH AMERICA VERTICAL FARMING MARKET, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 32 NORTH AMERICA VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
TABLE 33 NORTH AMERICA VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
TABLE 34 NORTH AMERICA LIGHTING MARKET, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 35 NORTH AMERICA LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2025 (USD MILLION)
TABLE 36 NORTH AMERICA HYDROPONIC COMPONENTS MARKET, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 37 NORTH AMERICA CLIMATE CONTROLS MARKET, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 38 NORTH AMERICA SENSORS MARKET, BY COUNTRY, 2017–2025 (USD MILLION)
FIGURE 33 VERTICAL FARMING MARKET SNAPSHOT: NORTH AMERICA
  11.2.1 US
    11.2.1.1 Increasing number of vertical farms with automation in the US
TABLE 39 US VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
TABLE 40 US VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
TABLE 41 US LIGHTING MARKET, BY LIGHTING COMPONENT, 2017–2025 (USD MILLION)
  11.2.2 CANADA
    11.2.2.1 Large presence of technologically advanced vertical farming companies in Canada
TABLE 42 CANADIAN VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
TABLE 43 CANADIAN VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
TABLE 44 CANADIAN LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2025 (USD MILLION)
  11.2.3 MEXICO
    11.2.3.1 Increasing need for sustainable food supply with growing population and limited availability of cultivatable land
TABLE 45 MEXICAN VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
TABLE 46 MEXICAN VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
TABLE 47 MEXICAN LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2025 (USD MILLION)
11.3 EUROPE
TABLE 48 EUROPEAN VERTICAL FARMING MARKET, BY REGION/COUNTRY, 2017–2025 (USD MILLION)
TABLE 49 EUROPEAN VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
TABLE 50 EUROPEAN VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
TABLE 51 EUROPEAN LIGHTING MARKET, BY REGION/COUNTRY, 2017–2025 (USD MILLION)
TABLE 52 EUROPEAN LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2025 (USD MILLION)
TABLE 53 EUROPEAN HYDROPONIC COMPONENTS MARKET, BY REGION/COUNTRY, 2017–2025 (USD MILLION)
TABLE 54 EUROPEAN CLIMATE CONTROLS MARKET, BY REGION/COUNTRY, 2017–2025 (USD MILLION)
TABLE 55 EUROPEAN SENSORS MARKET, BY REGION/COUNTRY, 2017–2025 (USD MILLION)
FIGURE 34 VERTICAL FARMING MARKET SNAPSHOT: EUROPE
  11.3.1 EU5
    11.3.1.1 Collaborations between farming companies and technology providers have increased the use of efficient farming techniques
TABLE 56 EU5 VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
TABLE 57 EU5 VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
TABLE 58 EU5 LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2025 (USD MILLION)
  11.3.2 SCANDINAVIA
    11.3.2.1 Deployment of vertical farms in restaurants, retail, and grocery stores eliminates transportation losses of food
TABLE 59 SCANDINAVIAN VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
TABLE 60 SCANDINAVIAN VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
TABLE 61 SCANDINAVIAN LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2025 (USD MILLION)
  11.3.3 NETHERLANDS
    11.3.3.1 Netherlands is one of the largest exporters of agricultural products in Europe
TABLE 62 NETHERLANDS VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
TABLE 63 NETHERLANDS VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
TABLE 64 NETHERLANDS LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2025 (USD MILLION)
  11.3.4 REST OF EUROPE
TABLE 65 REST OF EUROPE VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
TABLE 66 REST OF EUROPE VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
TABLE 67 REST OF EUROPE LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2025 (USD MILLION)
11.4 APAC
TABLE 68 APAC VERTICAL FARMING MARKET, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 69 APAC VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
TABLE 70 APAC VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
TABLE 71 APAC LIGHTING MARKET, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 72 APAC LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2025 (USD MILLION)
TABLE 73 APAC HYDROPONIC COMPONENTS MARKET, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 74 APAC CLIMATE CONTROLS MARKET, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 75 APAC SENSORS MARKET, BY COUNTRY, 2017–2025 (USD MILLION)
FIGURE 35 VERTICAL FARMING MARKET SNAPSHOT: APAC
  11.4.1 CHINA
    11.4.1.1 Vertical farming in China is growing rapidly due to the increasing urban population and declining agricultural land
TABLE 76 CHINESE VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
TABLE 77 CHINESE VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
TABLE 78 CHINESE LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2025 (USD MILLION)
  11.4.2 JAPAN
    11.4.2.1 Technologically equipped ecosystem facilitates potential growth opportunities for market
TABLE 79 JAPANESE VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
TABLE 80 JAPANESE VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
TABLE 81 JAPANESE LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2025 (USD MILLION)
  11.4.3 SINGAPORE
    11.4.3.1 Increasing support from the government to enhance the food chain
TABLE 82 SINGAPORE VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
TABLE 83 SINGAPORE VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
TABLE 84 SINGAPORE LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2025 (USD MILLION)
  11.4.4 REST OF APAC
TABLE 85 REST OF APAC VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
TABLE 86 REST OF APAC VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
TABLE 87 REST OF APAC LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2025 (USD MILLION)
11.5 REST OF THE WORLD
TABLE 88 ROW VERTICAL FARMING MARKET, BY REGION, 2017–2025 (USD MILLION)
TABLE 89 ROW VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
TABLE 90 ROW VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
TABLE 91 ROW LIGHTING MARKET, BY REGION, 2017–2025 (USD MILLION)
TABLE 92 ROW LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2025 (USD MILLION)
TABLE 93 ROW HYDROPONIC COMPONENTS MARKET, BY REGION, 2017–2025 (USD MILLION)
TABLE 94 ROW CLIMATE CONTROLS MARKET, BY REGION, 2017–2025 (USD MILLION)
TABLE 95 ROW SENSORS MARKET, BY REGION, 2017–2025 (USD MILLION)
  11.5.1 MIDDLE EAST & AFRICA
    11.5.1.1 Increasing investments to boost local food production
TABLE 96 MIDDLE EAST & AFRICA VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
TABLE 97 MIDDLE EAST & AFRICA VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
TABLE 98 MIDDLE EAST & AFRICA LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2025 (USD MILLION)
  11.5.2 SOUTH AMERICA
    11.5.2.1 Emergence of startups involved in vertical farming to boost the growth of the South American market
TABLE 99 SOUTH AMERICAN VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2025 (USD MILLION)
TABLE 100 SOUTH AMERICAN VERTICAL FARMING MARKET, BY GROWTH MECHANISM, 2017–2025 (USD MILLION)
TABLE 101 SOUTH AMERICAN LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2025 (USD MILLION)

12 COMPETITIVE LANDSCAPE

12.1 OVERVIEW
FIGURE 36 ORGANIC AND INORGANIC STRATEGIES ADOPTED BY COMPANIES OPERATING IN VERTICAL FARMING MARKET
12.2 MARKET SHARE AND RANKING ANALYSIS
TABLE 102 MARKET PLAYER SHARE, 2019 (LIGHTING PROVIDERS)
TABLE 103 MARKET PLAYER RANKING, 2019 (CROP PRODUCERS)
12.3 MARKET EVALUATION FRAMEWORK
FIGURE 37 MARKET EVALUATION FRAMEWORK-PRODUCT LAUNCHES AND DEVELOPMENTS FUELED GROWTH AND INNOVATIONS FROM
MAY 2017 TO APRIL 2020
  12.3.1 PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 104 PRODUCT LAUNCHES AND DEVELOPMENTS, 2018–2020
  12.3.2 AGREEMENTS, PARTNERSHIPS, AND COLLABORATIONS
TABLE 105 AGREEMENTS, PARTNERSHIPS, AND COLLABORATIONS, 2017–2020
  12.3.3 EXPANSION
TABLE 106 EXPANSION, 2019–2020
  12.3.4 ACQUISITIONS
TABLE 107 ACQUISITIONS, 2017–2018
12.4 COMPETITIVE LEADERSHIP MAPPING – OEMS AND SYSTEM INTEGRATORS
  12.4.1 STARS
  12.4.2 PERVASIVE
  12.4.3 EMERGING LEADERS
FIGURE 38 VERTICAL FARMING MARKET (OEMS AND SYSTEM INTEGRATORS) COMPETITIVE LEADERSHIP MAPPING (2019)
12.5 COMPETITIVE LEADERSHIP MAPPING –GROWERS/ VERTICAL FARMING COMPANIES
  12.5.1 STARS
  12.5.2 PERVASIVE
  12.5.3 EMERGING LEADERS
FIGURE 39 VERTICAL FARMING MARKET (VERTICAL FARMING COMPANIES) COMPETITIVE LEADERSHIP MAPPING (2019)

13 COMPANY PROFILES

13.1 INTRODUCTION
13.2 KEY PLAYERS
(Business overview, Products/solutions/services offered, Recent developments, SWOT analysis, and MNM view)*
  13.2.1 SIGNIFY
FIGURE 40 SIGNIFY: COMPANY SNAPSHOT
  13.2.2 OSRAM
FIGURE 41 OSRAM: COMPANY SNAPSHOT
  13.2.3 FREIGHT FARMS
  13.2.4 AEROFARMS
  13.2.5 SKY GREENS
  13.2.6 SPREAD
  13.2.7 PLENTY
  13.2.8 VALOYA
  13.2.9 EVERLIGHT ELECTRONICS
FIGURE 42 EVERLIGHT ELECTRONICS: COMPANY SNAPSHOT
  13.2.10 HELIOSPECTRA AB
FIGURE 43 HELIOSPECTRA AB: COMPANY SNAPSHOT
  13.2.11 GREEN SENSE FARMS
  13.2.12 AGRILUTION
  13.2.13 AMERICAN HYDROPONICS
  13.2.14 URBAN CROP SOLUTIONS
13.3 OTHER KEY PLAYERS
  13.3.1 VERTICAL FARM SYSTEMS
  13.3.2 BOWERY FARMING
  13.3.3 AGRICOOL
  13.3.4 SANANBIO
  13.3.5 GROWPOD SOLUTIONS
  13.3.6 INFARM
  13.3.7 ALTIUS FARM
  13.3.8 INTELLIGENT GROWTH SOLUTIONS
*Details on Business overview, Products/solutions/services offered, Recent developments, SWOT analysis, and MNM view might not be captured in case of unlisted companies.

14 APPENDIX

14.1 OTHER INSIGHTS FROM INDUSTRY EXPERTS
14.2 DISCUSSION GUIDE
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4 AVAILABLE CUSTOMIZATIONS
14.5 RELATED REPORTS
14.6 AUTHOR DETAILS


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