In 2015, the value of the world’s remaining agricultural market was 1.15 billion dollars, Due to the increasing growth of the environmentally friendly production of fruits and vegetables. Demand for urban farming has increased due to the unprecedented growth of the global population. Genetic farming is a practice to prepare food in a vertical stacked layer like a vertical warehouse, a skyscraper or a shipping container.
Organic foods are perceived as healthier, nutritious, safer, and more environmentally friendly. A critical factor that influences the demand for organic food is the food purchasing behavior of consumers, which is essential for producers, policymakers, and suppliers to implement successful marketing strategies.
Obesity and heart diseases are the prevalent, health-related issues among consumers. Furthermore, the growing depletion of groundwater and changing climatic conditions have urged the traditional growers to adopt alternate farming methods. Increasing consumer concerns toward health and the abovementioned factors are likely to elevate the industry demand.
Contrary to traditional farming, indoor farming can produce crops throughout the year, which increases productivity. Furthermore, indoor farming can protect crops from extreme weather conditions through the use of techniques such as the controlled environment agriculture technology, where the facilities use artificial environmental control, control of light, and fertigation.
The shipping container segment dominated the industry in terms of revenue in 2015 and is expected to remain dominant over the forecast period. Structural ability to help increase the crop, neglecting the geographical location causes this increase. Components as increasingly technological progress and Expectancy of expected increase in precision farming is expected to run shipping container segments. Building-based departments are widely accepted in Japan, China, and other Asian countries. The shipping container based farming uses 95% less water than traditional farming with drip irrigation. It’s easy to modify, stackable, durable shipping containers, and Can be recycled and reproduced at a lower price. Additionally, additional availability of unused shipping containers worldwide will also affect segments growth over the prediction period.
Depending on the offer, market lighting, hydroponics components, weather controls, and sensors. The Weather Control Department is expecting a high growth rate in the forecast period. Farmers have increased the use of hydroponic components to reduce weight and the basic structure needed to support the equipment is to run the demand for hydroponic components.
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. A various sensor such as the nutrient sensor, humidity sensor, and light sensor are used to monitor the crop growth of the crops. Monitoring also enables notifications of changes and alerts.
Automation in vertical farming is aiming at minimizing time to market, reducing distribution, production, & environment costs, and standardizing the high quality. IoT has become the mainstream technology that drives several industries such as transportation, manufacturing, agriculture, and others. The broadcast of IOT has revolutionized the agricultural industry.
Growing Mechanism Insights
Based on growing mechanisms, the market has been segmented into hydroponics, aeroponics, and aquaponics. In 2015, the increasing system of hydroponics filled the Segment and Expectancy is expected to be effective over a period of time. Hydroponic farming is a method of growing plants without soil, where the soil is replaced by a mineral solution inserted around the plant roots.
In addition, the Hydroponics method eliminates the risk of life in the soil caused by the disease. The growing awareness among consumers regarding the effects of pesticides is expected to boost the demand for hydroponics segment.
The aquaponics segment is anticipated to gain a significant market share over the forecast period. Aquaponics is the integration of hydroponics and aquaculture, which eliminates the need for harmful chemicals for cultivation. Plants like lettuce, chiv, pepper, black, mint, cucumber and peas are grown by aquaponics. Water used in the Aquaponics system is fish waste which nourishes it and The crop yield time increases. This creates a durable natural system that reduces the need for chemicals to prepare food.
The aeroponics segment is expected to significantly increase in the forecast period. This system is similar to Hydroponics because the soil is not used to develop plants. However, in aeroponics, there is no need for growing medium because plants in the dark room are due to the roots and Spray with nutritional-rich solution regularly.
According to Revenue, Asia Pacific region dominated the industry in 2015 and Expectancy is expected to be effective over a period of time. Growing awareness regarding the importance of alternative farming, owing to the less availability of fertile agricultural land and increasing population, are the key factors anticipated to spur the industry demand.
Due to the increased expansion of genetically modified peak technology, a significant increase in the expected time of European market in Europe is expected. Moreover, the increase in the demand of Nano technology and robotics for agriculture increases regional market demand. Use of Nano technology helps improve food packaging and improve disease and pest control.
The European environmental agency has carried out several initiatives to build vertical farms for the purpose of overcoming challenges of continuous population growth and climate change as well as producing food in an environment-unfriendly way. This has resulted in the rising demand for the market in the region.
The growing urban population and the commercialization of indoor agriculture are expected to boost Africa’s regional demand. However, lack of financial resources for limited access to modern verticals and water supply and the land is expected to prevent Africa’s regional growth. To overcome such challenges, wooden box stands in different models of this area and sack gardens.
A few of the major industry players include Aero Farms (U.S.), Illumitex, Inc. (U.S.), and American Hydroponics (U.S.). These players are involved in strategies such as partnerships, business expansions, new product developments, and contracts to expand their market share.
Segments Covered in the Report:
This report estimates the income growth at the worldwide, regional and country level and provides an analysis of the latest trends and opportunities in each sub-continent from 2014 to 2025. For the purpose of this study, Frank n Raf has segmented the global vertical farming market based on structure, offering, growing mechanism, and region:
Structure Outlook (Revenue, USD Million; 2014 – 2025)
• Shipping container
Offering Outlook (Revenue, USD Million; 2014 – 2025)
• Hydroponic components
• Climate control
Growing Mechanism Outlook (Revenue, USD Million; 2014 – 2025)
Regional Outlook (Revenue, USD Million; 2014 – 2025)
Middle East and Africa (MEA)
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