Market Overview:

In the year 2019 Europe Vertical Farming Market was valued at USD 0.85 Billion. By the year 2024, it is predicted to reach USD 2.31 Billion at 22% CAGR. Vertical farming is the practice of producing food and medicine in vertically stacked layers. The modern idea of vertical farming use indoor farming techniques and Controlled Environment Agriculture (CEA) technology.

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Factors affecting market growth:

• Advance equipped technology and large industries involvement. +
• Increased preference for organic foods, pesticides frees foods. +
• Rise in Population and increase in urbanization. +
• Decline in Water level in the recent years +
• Land for agriculture cultivation is limited. +
• Less dependence on Favorable weather conditions and high water usage, skilled labor. +
• High initial investment for setting up Vertical farming market is restraining market. -
• Production of High value crops and Consumption of artificial light is restraining the market growth. –

Market Segmentation

The Europe Vertical Farming Market is segmented on the basis of

Growth Mechanism

• Hydroponics
• Aeroponics
• Aquaponics

Structure

• Building Based
• Shining Container
• Shipping Container

Offering

• Hardware
• Software
• Service

Indoor Vertical farms were the biggest application segment of the vertical farming market. Indoor farms include growing vegetables, fruits, etc. in controlled environments. Aeroponics segment is the second most common method of growing leafy vegetables, as it is grown in mist environment without any soil.

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Key players:

Major Market players involved in the Vertical farming market are Illumitex Inc. (U.S), Aerofarms (U.S), Koninklijke Philips N.V (The Netherlands), and Sky Greens (Singapore) among others.

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