Dublin, April 29, 2021 (GLOBE NEWSWIRE) -- The "Vertical Farming Crops Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Crop Type (Tomato, Leafy Greens, Herbs, and Others), End Use (Food Retail and Food Service), and Farming Technique (Hydroponics, Aeroponics, and Aquaponics)" report has been added to ResearchAndMarkets.com's offering.
The vertical farming crops market was valued at US$ 239.90 million in 2019 and is projected to reach US$ 1,021.33 million by 2027; it is expected to grow at a CAGR of 20.0% from 2019 to 2027.
Vertical farming is mainly the production of plants grown in vertical layers, stacked horizontal, or other three-dimensional configurations. Most of the commercial vertical farms produce crops indoors, including inside buildings, relying on light-emitting diodes (LEDs) as the sole light source.
While some other vertical farms exist inside greenhouses, the variability in light intensity caused due to shading from crops and the structures above makes producing a uniform crop difficult. An increase in demand for new, locally grown, and pesticide-free produce and limited availability of arable land for traditional agriculture have boosted the demand for vertical farming crops across the world.
The leafy greens segment accounted for the largest market share in 2019, and the herbs segment is expected to register the highest CAGR in the market during the forecast period. Leafy greens are a suitable choice for indoor farming because they can be grown rapidly and in relatively small spaces. Also, the growing concerns toward food security and nutrition are expected to drive the demand for leafy greens during the forecast period.
As consumer trend is developing toward "fresh-from-farm-to-table", the demand for freshly harvested green vegetables is expected to increase across retail outlets. Compared to traditional outdoor farming, vertical farms have lower land use requirement and less CO2 emissions from transportation. They are up to 90% more water efficient. The increasing investment in research of indoor cultivation of leafy greens is offering lucrative opportunities for the market growth.
Based on region, the vertical farming crops market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. North America holds the largest share in the market, followed by Europe. Further, the US dominates the vertical farming crops market in North America, followed by Canada and Mexico, respectively. The rising demand for food products and the lack of arable land are driving the market in this region.
Key players operating in the vertical farming crops market include AeroFarms; Agricool; Bowery Farming Inc.; CropOne; Infarm; Plantlab; Plenty Unlimited Inc.; Gotham Greens; MIRAI Co., Ltd.; and BrightFarms.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
4. Vertical Farming Crops Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Expert Opinion
5. Vertical Farming Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rise in Demand for Fresh, Pesticide-Free, and Locally Grown Produce
5.1.2 Limited Availability of Arable Land for Conventional Agriculture
5.2 Market Restraints
5.2.1 High Initial Investment
5.3 Market Opportunities
5.3.1 Increasing Demand for Vertical Farming in Highly Populated Urban Regions
5.4 Future Trends
5.4.1 AI-Controlled Vertical Farms
5.5 Impact Analysis of Drivers and Restraints
6. Vertical Farming Crops - Global Market Analysis
6.1 Vertical Farming Crops Market Overview
6.2 Vertical Farming Crops Market -Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning - Key Market Players
7. Vertical Farming Market Analysis - By Crop Type
7.2 Vertical Farming Market, By Crop Type (2019 and 2027)
7.4 Leafy Greens
8. Vertical Farming Market Analysis - By End-Use
8.2 Vertical Farming Crops Market, By End-Use (2019 and 2027)
8.3 Food Retail
8.4 Food Service
9. Vertical Farming Market Analysis - By Farming Technique
9.2 Vertical Farming Crops Market, By Farming Technique (2019 and 2027)
10. Vertical Farming Crops Market - Geographic Analysis
11. Impact of COVID-19 Pandemic on Global Vertical Farming Crops Market
12. Industry Landscape
12.2 Strategy & Business Planning
12.3 Merger and Acquisition
13. Key Company Profiles
Bowery Farming Inc.
Plenty Unlimited Inc.
MIRAI Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/vikdiq
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