The GMI Research contemplates that the United States Vertical Farming Market will expand at a significant rate over the forecast period. This is because of the aggravating focus to prevent and maintain the required growth conditions and their potential to support crop growth.
Introduction of the US Vertical Farming Market
Vertical farming is the procedure of growing food on any vertically inclined surface. This method provides food in vertically assembled layers incorporated on other structures such as repurposed warehouses or shipping containers. The farming employs a combination of natural and artificial light, which is LED-based, driven by renewable sources like power or wind turbine. The market covers several growth processes which include Hydroponics, Aquaponics, and Aeroponics.
Key Players of Market:
- Freight Farms
- Aero Farms
- Green Sense Farms Holdings Inc.
- Green Spirit Farms
- Altius Farms
- Plenty Unlimited Inc.
- Bowery Farming Inc.
United States Vertical Farming Market Dynamics
The increasing inclination of individuals towards natural products and the augmenting crop production are foremost drivers promoting the growth of the United States vertical farming market. Also, the reduction in the amount of fertile land and the ongoing modernization in light-emitting diode (LED) technology is further strengthening the market growth. LED lights are highly economical and assist in reducing the farming cost incurred by farmers. Additionally, the rising consciousness concerned with enormous advantages provided by this farming method, such as less vulnerability to diseases and chemicals, no influence of altering weather conditions, less water usage, and larger yield from less cultivable land, will promote the US Vertical Farming Market Share.
Besides this, the aggrandizing production of biopharmaceutical items and increasing demand for natural products as a result of the growing incidences of health diseases will persuade individuals to choose healthier food. Moreover, vertical farming helps to reduce carbon emissions because of its greater contiguity to the customers. The country is regarded as the biggest market for hydroponic systems, primarily in North America. Thus, the aggravating prominence of greenhouse horticulture is supplementing the hydroponics market in the U.S. Moreover, grocery store owners have inclined towards hydroponic farmers to cater to the desired consumer needs in unfavourable weather climates. Thus, all these factors together are paving the way for market growth.
Structure Segment Drivers
Depending upon the structure segment, the shipping container vertical farms are anticipated to lead the market over the next few years. The capability of this structure to support crop growth regardless of the geographical location is one of the most important factors responsible for market growth. Farming needs nearly 95% of less water in comparison to the traditional cultivation by the usage of drip. Moreover, US Vertical Farming Market Share Analysis Report states that they can easily be modified, assembled, resisted, and recycled at a cost-effective price.
Offering Segment Drivers
According to the offering, the climate control segment is contemplated to expand at the highest rate over the forecast period. Climate control is a kind of agriculture where plants are cultured inside a greenhouse under a restricted environment. The growing focus on the prevention and maintenance of the optimized growth conditions of the crops has stimulated farmers to choose climate control farming.
United States Vertical Farming MarketSegmentation:
Segmentation by Growth Mechanism
Segmentation by Structure
- Shipping Container Vertical Farms
- Building-Based Vertical Farms
Segmentation by Crop Type
Segmentation by Offering
- Hydroponics Components
- Climate Control
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