The demand within the global vertical farming market is rising on account of the stellar need for increasing agricultural productivity. The presence of a seamless industry for managing agricultural activities and farming techniques has brought in voluminous revenues into the market. Furthermore, need for optimization of plant growth has also brought vertical farming under the spotlight of attention. In this scenario, the market vendors have a wide playfield of opportunities to capitalise upon. The use of vertical farming techniques has gathered momentum in several areas across the Middle East. Farming is the primary occupation of a major population of people in India. The historic significance of farming in India, and its surrounding regions, has contributed to the growth of the global market.
- The importance hydroponic farming has also driven sales across the global vertical farming market. The ability to control environmental factors through vertical farming has played a vital part in generating revenues within the market. Vertical farming systems can be used across shipping containers, buildings, and abandoned mine shafts. The ability to set up vertical farming systems across urban centers has emerged as an important dynamic of market growth. Soilless farming techniques have also gained importance in recent times. The use of water-suspended minerals for vertical farming has helped in driving sales.
- Singapore, London, Israel, and Japan have exhibited their dexterity in adopting vertical farming techniques. Several other regions and countries are drawing inspiration from these regions. State government are providing dedicated spaces for vertical farming, and this is an important consideration for market growth. Increase crop yield obtained from vertical farming is an important consideration for potential consumers. Moreover, plagues and diseases cannot affect crops that are grown across vertical farming systems. The benefits of cost-optimization and production-efficiency are at the helm of growth within the global market.
Vertical Farming Market: Overview
In a recent market intelligence report bearing the titled “Vertical Farming Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”, the said market has been dissected with each and every facet of and growth prospect of the market has been studied in detail. A detailed snapshot of the said market with the analysis of porter’s five forces has been included in an effort to make an offering of a concise and clear landscape of the market participants to the readers. The report investigates on and assesses the crucial market trends that are used to make a forecast of the revenue that is to be achieved by the said market in the years to come. For each of the different categories of segmentations, the market intelligence report has made an offering of an almost accurate estimation of growth of the market and other significant data and figures. All these could help the industry players to gain a strong ground in the market and ensure substantial growth in the years to come.
The report has been divided on the basis of various significant parameters in a bid to give the readers an all-inclusive view of the vertical farming market and also highlighted the market variations that define the world market for vertical farming.
The said market can be categorized by crop type, model, structure, and by geography.
Vertical Farming Market: Trends and Opportunities
There are multiple benefits of this new-age farming technique, comprising flexibility of space that is required to start farming, requisition of quite less space for farming, and only fairly high cost is incurred in the installation of various associated systems and ease of maintenance are working in favor of the said market. In addition to that, more yield of crop per unit of land, soil-less and highly controlled nature of the farming, and cost effective production are also working in favor of the said market. This technique of farming can ensure a supply of organic products throughout the year and the products are entirely free of contaminants and fertilizers.
Vertical Farming Market: Regional Outlook
Readers are being expected to explore the possible opportunities that prevail in different regions of the said market with the help of the geographical analysis that has been provided in the publication. Each region has been carefully researched by the analysts.
The report makes an examination of the international market for vertical farming across various regions such as Latin America, Asia Pacific, Europe, Middle East and Africa, and North America. Of all of these, the markets in these regions such as Europe and North America are experiencing rapid traction. The said market in Asia Pacific is also forecasted to present promising growth opportunities to the international market for vertical farming.
Companies Mentioned in the Report
A few of the prominent companies which are operating in the world market for vertical farming market are Sky Greens, Illumitex, Inc., Green Sense Farms LLC, Koninklijke Philips N.V., BrightFarms, AeroFarms, Urban Crops, Neofarms, and Everlight Electronics Co., Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.