Global Vertical Farming and Plant Factory Market to Witness Unprecedented Growth during the Forthcoming Period

Published | 23 November 2019

According to BlueWeave Consulting, the Global Vertical Farming and Plant Factory Market is anticipated to register a remarkable compound annual growth rate (CAGR) growth rate of 39.6% and reach USD billion by 2026 from USD billion in the year 2018. The market growth is attributable to the growing urbanization, rising concern for high-quality output without the use of pesticides and herbicides, and private and state initiatives to improve climatic conditions. However, the high beginning considerations, lack of specialized skills, and constraints on the assortment of yields grown impede the vertical cultivating market.

Nowadays, cultivation doesn't solely rely upon the climatic conditions, but natural vegetables are grown nonstop throughout the year with advanced technologies. The land territory for cultivating is reducing day by day, advancing the need for vertical farming. With vertical farming, the plants can be grown in the confined territory of houses, known as greenhouses, recreating the suitable climatic conditions artificially and reliably with use of LED light. The plants are stacked one on other vertically and are grown under controlled conditions without use of pesticides.

“The Hydroponics Segment holds bright market prospects during the forecast period.”

Based on Type of Vertical Farming, the market is divided into Aeroponics, Hydroponics, and Others. The Hydroponics Segment held a significant portion of the vertical cultivating market in 2015 and is expected to continue its dominance due to its easy execution with no intricacies. The Aeroponics development system is expected to register remarkable CAGR during the projected period as Aeroponics development is profitable due to quicker plant development, wherein an increasing number of plants could be developed in lesser time than under ordinary conditions.

"The North American region holds a lion's share in the Global Vertical Farming and Plant Factory Market."

North America is the largest market contributor and is expected to maintain its share in the Global Vertical Farming and Plant Factory Market during the projection period on account of advanced technology and growing demand for high-quality food in the region. The exhibitions in the region, along with the conspicuous traders working in the countryside additionally enlighten partners, entrepreneurs, and field showcasing administrators. The various aspects of the business including new dispatches, procurement, alliances and new participants are talked about widely during the study and exhibitions.

"The major players" in the Global Vertical Farming and Plant Factory Market are JCX LED, Weshine, K-light, QEE Technology, Rosy Electronics, Ohmax Optoelectronic Lighting, Zhicheng Lighting, Flow Magic, California LightWorks, Kessil, Kind LED Grow Lights, Spectrum King Grow Lights, Cidly, Sunprou, Philips, OSRAM, Illumitex, GE, Valoya, Everlight Electronics, Epistar, LumiGrow, LEDHYDROPONICS, Fionia Lighting, Netled, Apollo Horticulture, Grow LED Hydro.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Vertical Farming and Plant Factory size & forecast. The report promises to provide state-of-the-art technology of Vertical Farming and Plant Factory and industry insights which help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges and competitive dynamics of the market.