North America vertical farming market is expected to grow at a CAGR of 10% during the forecast period. Increasing popularity of organic food, urbanization and shrinking fertile lands are some of the important factors driving North America vertical farming market. The need for continuous crop production is another potential driver of the market. Furthermore, factors such as rising water scarcity, increasing inclination towards environment-friendly production of fruits and vegetables, climate change, depleting ground water levels, among others are expected to fuel growth in the market during forecast years.
North America vertical farming market is segmented based on growth mechanism, structure, offering, application, crop type, country and company. Based on growth mechanism, the market can be fragmented into aeroponics, hydroponics, aquaponics and others. The hydroponics segment is expected to hold the largest market share during forecast period owing to the lower installation cost and ease of operation. Based on structure, the market can be bifurcated into building based vertical farms and shipping container vertical farms. The shipping container vertical farms structure is expected to dominate the market owing to the fact that they are easy to transport and do not require a large piece of land or a dedicated building to start cultivating. On the basis of application, the market can be divided into indoor and outdoor. The indoor segment dominates the market during the forecast period since indoor farming requires less water and gives high yield with minimum land utilization. Additionally, the crops remain protected from the adverse climatic conditions.
The major players operating in vertical farming market are Green Spirit Farms, Aerofarms, American Hydroponics, General Hydroponics, Illumitex, Inc., Green Sense Farms, LLC, Hort Americas, LLC, Plenty Unlimited, Inc., Bowery Farming Inc., Freight Farms and others. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. For instance, in March 2016, Illumitex (US) expanded its LED lighting services to six international countries in the vertical farming industry. Among the international vertical farms, Illumitex is currently working with Remy located in Israel, Asahi Techno in Japan, Agricool in France, and aquaponics start-ups in Norway and Italy.
Years considered for this report
Historical Years2014-2017
Base Year2018
Estimated Year2019
Forecast Period2020–2024
Objective of the Study
- To analyze and forecast the market size of North America vertical
farming market.
- To classify and forecast North America vertical farming market based
on growth mechanism, structure,
offering, application, crop type, company and
country distribution.
- To identify drivers and challenges for North America vertical
farming market.
- To examine competitive developments such as expansions, new product
launches, mergers & acquisitions, etc., in North America vertical
farming market.
- To identify and analyze the profile of leading players operating in
North America vertical farming market.
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performed both primary as well as exhaustive secondary research for this study. Initially, sourced a list of manufacturers across the region. Subsequently, conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, could include the manufacturers which could not be identified due to the limitations of secondary research. analyzed the manufacturers, distribution channels and presence of all major players across the region.
calculated the market size of
Key Target Audience
- Vertical farming manufacturers and suppliers
- Market research and consulting firms
- Government bodies such as regulating
authorities and policy makers
- Organizations, forums and alliances related to
vertical farming
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
