The report presents an in-depth assessment of the The US Vertical Farming including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for The US Vertical Farming investments from 2020 till 2024.
The report presents a wide-range analysis of the market for vertical farming across the United States. The market has been segmented based on the growing mechanism, structure type, and crop type. The estimations and market sizing offer margins of the bulk buyers and the retailers buying from vertical farms for further sales. The corporations operate in B2C format. These do not include raw material supplying companies.
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Top Leading Manufactures-
Aero Farms, Freight Farms, Green Sense Farms Holdings Inc., Green Spirit Farms, Plenty Unlimited Inc, Bowery Farming Inc., Altius Farms
The US vertical farming market was valued at USD 740 million in 2018 and is expected to register a CAGR of 10.5% during the forecast period, 2019-2024. Among the crop types, fruits and vegetables accounted for the significant share of 47%, followed by herbs and micro-greens with 35%, in 2018.
Shrinking per capita agricultural land and rapid pace of development of precision farming technologies are expected to drive the market growth, while, limitation on types of crops grown and high initial investments can restrain the growth of the market.
The report presents a wide-range analysis of the market for vertical farming across the United States. The market has been segmented based on the growing mechanism, structure type, and crop type. The estimations and market sizing offer margins of the bulk buyers and the retailers buying from vertical farms for further sales. The corporations operate in B2C format. These do not include raw material supplying companies..
The Fastest-growing Segment by Growth Mechanism Hydroponics
The United States is one of the largest markets for hydroponic systems in North America, given the rising popularity of greenhouse horticulture and agriculture in the country. The future growth of the hydroponics market in the country mainly depends upon the development of production systems that are competitive in cost with open field agriculture. Cultivating crops using hydroponics is also seen as a resort during extreme weather conditions. For instance, in the past, grocery stores have turned toward hydroponic farmers to meet their demand during harsh weather conditions. In addition to adverse climatic conditions, the increasing demand for organic produce is expected to boost the segments growth. Increased demand for greenhouse tomatoes and the legalization of medicinal plants, like marijuana, are expected to further help the market in registering rapid growth in the country. Rooftop hydroponic gardens in urban setups are also helping the market grow further.
Fruits & Vegetables Segment – Largest by Crop Type
The fruit and vegetable segment in the US vertical farming market held a share of 47% of the overall market in 2018 and the segment is expected to register a CAGR of 11.0% during the forecast period.
Tomato is one of the primary crops that is grown through vertical farming systems in the country. Hydroponic techniques have proven to be commercially successful for propagation, seed germination, and the production of tomato. Producers in the country have recognized this as an opportunity; thereby, increasing the production of fruits and vegetables through vertical farming. In addition to vegetables, the year-round availability of strawberries is being made possible through integrated agricultural production systems. In order to keep up with the market demand, many farmers in the country have started growing strawberries through hydroponics. Based on the aforementioned factors, vertical farming is expected to play a key role in the production of fruits and vegetables in the country.
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–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a The US and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: The US Vertical Farming Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2014 to 2020 and forecasts until 2024 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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