North America Vertical Farming Market was worth USD 0.93 billion in 2021 and expected to be growing at a CAGR of 24%, to reach USD 2.73 billion by 2026. Vertical Farming is the cutting-edge development in farming, wherein all environmental factors can be organized. In the Vertical Farming process, foods and medicines are produced in vertically arranged layers, vertically inclined surfaces or in integrated structures like warehouses, shipping containers, skyscrapers, etc
Vertical Farming techniques regulate parameters like the quantity of light, ecological factors like temperature, humidity, gases, etc., and soil nutrition factors which include the use of fertilizers and other soil products. In some Vertical Farms, natural light is used in concurrence with artificial lighting and metal reflectors, similar to greenhouses.
Drivers and Restraints of North America Vertical Farming Market:
The North America Vertical Farming market is sustained by the growth in the use of technology such as the Internet of Things (IoT) in Vertical Farming, rapidly expanding populace and increase in the annual production of crops. The efficacy of artificial lighting to enhance the yield, health, and growth rate of plants coupled with lower dependency on the weather for production is driving the market from the producer side. Increasing consumer demand for organic foods, foods free from pesticides, organic foods, and genetically modified organisms (GMOs) is the main driving force of the market. Extraordinary costs of lighting equipment and continuous maintenance requirement are the restraints faced by the Vertical Farming market.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2021– 2026 |
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Base Year |
2020 |
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Forecast Period |
2021- 2026 |
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CAGR |
24% |
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Segments Covered |
By Growth Mechanism, By Structure, By Offering |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
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Market Leaders Profiled |
Illumitex Inc. (U.S.), Aerofarms (U.S.), Koninklijke Philips N.V. (The Netherlands), and Sky Greens (Singapore) among others. |
Market Segmentation:
North America Vertical Market - By Growth Mechanism:
North America Vertical Market - By Structure:
North America Vertical Market - By Offering:
Geographical Analysis:
The North America market has been geographically segmented into US and Canada. As of 2018, North America had the highest share in the global Vertical Farming Market. Being a developed market, the feasibility of setting up a Vertical Farm combined with the technological prowess to do so has driven the market growth. High consumer awareness and the resulting high demand for organic foods is the key driving force in the North America Vertical Farming market.
Key Players:
The key players involved in the progress of the North-America vertical farming market are Illumitex Inc. (U.S.), Aerofarms (U.S.), Koninklijke Philips N.V. (The Netherlands), and Sky Greens (Singapore) among others.
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Growth Mechanism
5.1.1 Introduction
5.1.2 Hydroponics
5.1.3 Aeroponics
5.1.4 Aquaponics
5.1.5 Y-o-Y Growth Analysis, By Growth Mechanism
5.1.6 Market Attractiveness Analysis, By Growth Mechanism
5.1.7 Market Share Analysis, By Growth Mechanism
5.2 Structure
5.2.1 Introduction
5.2.2 Building Based
5.2.3 Shipping Container
5.2.4 Y-o-Y Growth Analysis, By Structure
5.2.5 Market Attractiveness Analysis, By Structure
5.2.6 Market Share Analysis, By Structure
5.3 Offering
5.3.1 Introduction
5.3.2 Hardware
5.3.3 Software
5.3.4 Service
5.3.5 Y-o-Y Growth Analysis, By Offering
5.3.6 Market Attractiveness Analysis, By Offering
5.3.7 Market Share Analysis, By Offering
5.4 Crop Type
5.4.1 Introduction
5.4.2 Y-o-Y Growth Analysis, By Crop Type
5.4.3 Market Attractiveness Analysis, By Crop Type
5.4.4 Market Share Analysis, By Crop Type
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Growth Mechanism
6.1.3.3 By Structure
6.1.3.4 By Offering
6.1.3.5 By Crop Type
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Growth Mechanism
6.1.4.3 By Structure
6.1.4.4 By Offering
6.1.4.5 By Crop Type
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Growth Mechanism
6.1.5.3 By Structure
6.1.5.4 By Offering
6.1.5.5 By Crop Type
6.2 United States
6.3 Canada
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Sky Greens
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Aerofarms
8.3 Illumitex
8.4 Koninklijke Philips N.V
8.5 Everlight Electronics
8.6 Green Sense Farms LLC
8.7 Agrilution
8.8 American Hydroponics
8.9 Urban Crops
8.10 Vertical Farm Systems
8.11 Indoor Harvest Corporation
8.12 American Hydroponics
8.13 Moflo Aeroponics
8.14 SPREAD
8.15 Mirai
8.16 Freight Farms
8.17 Bright Farms
8.18 Plantagon International AB
8.19 Gills N Claws Pte Ltd
8.20 Alesca Life
8.21 General Hydroponics
8.22 Heliospectra AB
8.23 GrowUp Urban Farms
8.24 Ecobains Gardens
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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