Vertical Farming Market Is Expected to Grow at a Cagr of 19.1% by 2023
- by KD Market Insights
- Feb, 2021
Vertical farming is a kind of farming in which food or any other product is produced in vertical layers, one upon another. The modern ideas of vertical farming use indoor farming activities where all environmental factors can be controlled. According to the KD market Insights, the global market of vertical farming is going to achieve CAGR of 19.1% during the forecasted period of 2018-2023. Factors that help in the growth of the market is the high yielding crop, decreasing arable crop, increasing demand of the food. Moreover, Asia Pacific is growing fastest because of the increasing number of people.
The report provides information about the competitive dynamics of the market; the areas in which it is segmented and the areas it needs to flourish in near future. Further, it provides the plans, strategies adopted to grow in the market. It also provides a wide overview of the market its latest trends, insights that help the market to reach its desired customers and build brand image.
The report has been segmented on the basis of the growing system, equipment & Offerings, farm products, application and by geography. Measures have been taken to avoid any duplication of data. The report has been segmented in the form that it provides a wide idea about the market, the areas of the user of the products and the benefits it aims to provide to its customers and the latest innovation in the technology used to grab its target market. On the basis of Growing System, it is bifurcated into Hydroponics, Aeroponics, Aquaponics and Others. By Equipment & Offerings it is divided in Lighting, Climate Control, Sensors, Growing Supplies, Hydroponics Components, Pumps and Irrigation System, Water Filtration System, Others, Aquaponics Components, Rearing Tank, Settling Basin, Filtration unit and others. The products available in the market are Leafy Greens, Herbs, Microgreens, Herbs, Tomatoes, Medical Cannabis, Cucumber, Strawberry, Peppers, Onion, Fish, Flowers and Others. It can be used in Commercial, Home Food Production and Others.
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The report includes a detailed analysis of every segment so that the requirements of a particular area are known in advance and the product can be altered according to the particular market requirements. The geography covered in the report are North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific), Latin America (Brazil, Mexico, Argentina and Rest of Latin America), Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa). Further, the report covers a separate analysis of some areas and breakdown of the demand according to a particular is made to provide a better overview of the demand from a particular region.
For the better consideration, 2017 is considered as base year on the basis of which evaluation will be made, 2018 as the current year and 2018-2023 will be considered as a forecasted period. It is divided into a particular time frame for better results and to access the growth opportunities available in the market. The key competitors in the market are Pentair Plc, Nelson and Pade Inc., Aerofarms, AmHydro, Green Life Aquaponics, American Hydroponics, Green Sense Farms, LLC, Aerofarms LLC, Gotham Greens LLC, Green Sense Farms LLC and Other Major & Niche Players. It also provides information about the new product launches in the market, the growth of the company in the global market.
The last section of the report provides information of the Overview & Executive Summary of the Market Drivers, Trends, Challenges and Opportunities faced by the market, its Size and Forecast Projections, Macroeconomic Indicators that can impact the growth of the Market, Porter's Five Force Analysis. Detailed strategic analysis of the company's business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development expansion and other market activities.
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