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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
Top Companies Profiled in the Vertical Farming Market:
- 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)
- Heliospectra (Sweden)
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.
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.
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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.