Industry Overview
The Asia-Pacific vertical farming market is predicted to grow at 22.1% CAGR during the forecast period with the market size reaching USD 2,101.0 million by 2024.
Vertical farming technique uses a (controlled-environment agriculture) CEA technology to preserve the environment and produce the crops even in densely populated areas of the city. This eliminates the excessive expenditure to be incurred on a rain-forest and helps in fulfilling the ever-increasing demand for crops amongst the increasing population of Asia-Pacific.
Market Segmentation
Insight by Offering
Hardware and software are the offerings provided by the vertical farming market. Of both the categories, the demand for hardware is larger in the market and is also anticipated to grow at a higher CAGR during the forecast period. Hardware type is further segmented into lighting, hydroponics component, climate control and sensors. Lighting type is further segmented as grow lights, grow light reflectors and grow light ballasts. Similarly, the hydroponics component is further segmented as pumps and irrigation, meters and solutions, water filtration and others. The climate control hardware type is further categorized as ventilation fans, air purification and others. Additionally, the sensors are further categorized as temperature sensors, CO2 sensors, nutrient sensor, PH sensor, crop sensors and others.
Insight by Growth Mechanism
On the basis of growth mechanism, the Asia-Pacific vertical farming market is categorized into aeroponics, hydroponics and aquaponics. Of all, hydroponics holds the largest share in the European vertical farming market.
Insight by Structure
Based on the structure, the Asia-Pacific vertical farming market is categorized into building-based vertical farms and shipping container vertical farms. The technique is largely used for growing several crops such as lettuce, pepper, broccoli, cucumber, spinach, tomato and others.
Insight by Crop Type
Based on crop type, the vertical farming market is categorized into broccoli, pepper, tomato, spinach, cucumber, lettuce, and others. Lettuce is the most grown crop in vertical farm and the demand for vertical farm products is anticipated to be the highest for this crop type during the forecast period.
The use of vertical farming in Asia-Pacific is helping the commercial growers to automate tasks such as nurturing seedlings that helps in essentially reducing labor costs that further helps in enhancing the profitability of the manufacturers. The use of this technique is helping the region to reduce the use of water at minimum threshold. The vertical farming technique is used for developing leafy green vegetables in this region. The technique is helping the region to develop adequate produce in order to satisfy huge number of population.
Industry Dynamics
Growth Drivers
The increasing demand for environment friendly production of fresh fruits and vegetables with no use of pesticides is driving the demand for vertical farming market in Asia-Pacific. The consumption of organic food is helping the people to lessen their symptoms if they are suffering from allergies to foods or chemicals.
Moreover, the geographical opportunities of vertical farming in Asia-Pacific are creating enhanced opportunities for vertical farming market to grow exponentially. The region of Asia-Pacific is providing various opportunities to develop such building-based vertical farms and shipping container vertical farms. The region aims at supplying large pounds of pesticide free crops and also saves the water consumption of the region since the vertical farming technique requires less water than the customary farming system.
Challenges
The high initial investments in vertical farming and limitations on the variety of crops grown are the major restraints observed in the growth of vertical farming market in Asia-Pacific.
ASIA-PACIFIC VERTICAL FARMING MARKET HIGHLIGHT
Geography Insight
Asia-Pacific is observed to witness fastest growth in the market. As the region comprises of largest population and they require a technique to meet the demand of this ever increasing population. Moreover, this region is considered to be very adaptive in implementing vertical farming technique and any new technology in the region. Thus, the demand for vertical farming in the region will expand significantly in the near future.
Competitive Insight
Some of the key players operating in the Asia-Pacific vertical farming market are Koninklijke Philips N.V., OSRAM GmbH, Illumitex, GE, Valoya Oy, Everlight Electronics Co. Ltd., Epistar Corporation, LumiGrow Inc., LEDHydroponics, Fionia Lighting, NET LED Limited, Apollo Horticulture, Grow LED Hydro, California LightWorks, Kessil, Kind LED Grow Lights, Spectrum King LED Grow Lights, Sunprou Opto-Technology Co. Ltd. and Shenzhen Jing Chuang Xing Technology Co., Ltd.
PRIMARY RESEARCH INTERVIEWS – BREAKDOWN
1. Research Overview
1.1. The Report Offers
1.2. Market Coverage
1.2.1. By Offering
1.2.2. By Growth Mechanism
1.2.3. By Structure
1.2.4. By Crop Type
1.2.5. By Country
1.3. Research Phases
1.4. Limitations
1.5. Market Size Estimations and Forecast
1.5.1. Data Sources
1.5.1.1. Primary Research
1.5.1.2. Secondary Research
1.5.2. Methodology
1.5.2.1. Data Exploration
1.5.2.2. Forecast Parameters
1.5.2.3. Data Validation
1.5.2.4. Assumptions
1.5.3. Study Period & Data Reporting Unit
2. Executive Summary
3. Market Definition
3.1. By Offering
3.1.1. Hardware
3.1.1.1. Climate Control
3.1.1.1.1. Air Purification
3.1.1.1.2. Ventilation Fans
3.1.1.1.3. Others
3.1.1.2. Lighting
3.1.1.2.1. Grow Light Reflectors
3.1.1.2.2. Grow Light Ballasts
3.1.1.2.3. Grow Lights
3.1.1.3. Sensors
3.1.1.3.1. PH Sensors
3.1.1.3.2. Nutrient Sensors
3.1.1.3.3. Crop Sensors
3.1.1.3.4. CO2 Sensors
3.1.1.3.5. Temperature Sensors
3.1.1.3.6. Others
3.1.1.4. Hydroponic Component
3.1.1.4.1. Meters and Solutions
3.1.1.4.2. Pumps and Irrigation
3.1.1.4.3. Water Filters
3.1.1.4.4. Others
3.1.2. Software
3.2. By Growth Mechanism
3.2.1. Aeroponics
3.2.2. Hydroponics
3.2.3. Aquaponics
3.3. By Structure
3.3.1. Building-Based
3.3.2. Shipping Container
3.4. By Crop Type
3.4.1. Broccoli
3.4.2. Pepper
3.4.3. Tomato
3.4.4. Spinach
3.4.5. Cucumber
3.4.6. Lettuce
3.4.7. Others
4. Industry Overview
4.1. Industry Dynamics
4.1.1. Market Growth Drivers
4.1.2. Market Growth Restraints
4.1.3. Key Market Trends
4.1.4. Major Opportunities
4.2. Industry Ecosystem
4.2.1. Porter’s Five Forces Analysis
4.2.2. Strategic Development Analysis
4.2.3. Value Chain Analysis
4.3. Competitive Insight
4.3.1. Competitive Position of Industry Players
4.3.2. Market Attractive Analysis
5. Asia-Pacific Market Estimate and Forecast
5.1. By Offering
5.2. By Growth Mechanism
5.3. By Structure
5.4. By Crop Type
5.5. By Country
6. China Market Estimate and Forecast
6.1. By Offering
6.2. By Growth Mechanism
6.3. By Structure
6.4. By Crop Type
7. Japan Market Estimate and Forecast
7.1. By Offering
7.2. By Growth Mechanism
7.3. By Structure
7.4. By Crop Type
8. Singapore Market Estimate and Forecast
8.1. By Offering
8.2. By Growth Mechanism
8.3. By Structure
8.4. By Crop Type
9. Taiwan Market Estimate and Forecast
9.1. By Offering
9.2. By Growth Mechanism
9.3. By Structure
9.4. By Crop Type
10. Rest of Asia-Pacific Market Estimate and Forecast
10.1. By Offering
10.2. By Growth Mechanism
10.3. By Structure
10.4. By Crop Type
11. Company Profiles
11.1. Koninklijke Philips N.V.
11.1.1. Snapshot
11.1.2. Overview
11.1.3. Offerings
11.1.4. Financial Insight
11.1.5. Recent Developments
11.2. OSRAM GmbH
11.2.1. Snapshot
11.2.2. Overview
11.2.3. Offerings
11.2.4. Financial Insight
11.2.5. Recent Developments
11.3. Illumitex
11.3.1. Snapshot
11.3.2. Overview
11.3.3. Offerings
11.3.4. Financial Insight
11.3.5. Recent Developments
11.4. GE
11.4.1. Snapshot
11.4.2. Overview
11.4.3. Offerings
11.4.4. Financial Insight
11.4.5. Recent Developments
11.5. Valoya Oy
11.5.1. Snapshot
11.5.2. Overview
11.5.3. Offerings
11.5.4. Financial Insight
11.5.5. Recent Developments
11.6. Everlight Electronics Co. Ltd.
11.6.1. Snapshot
11.6.2. Overview
11.6.3. Offerings
11.6.4. Financial Insight
11.6.5. Recent Developments
11.7. Epistar Corporation
11.7.1. Snapshot
11.7.2. Overview
11.7.3. Offerings
11.7.4. Financial Insight
11.7.5. Recent Developments
11.8. LumiGrow Inc.
11.8.1. Snapshot
11.8.2. Overview
11.8.3. Offerings
11.8.4. Financial Insight
11.8.5. Recent Developments
11.9. LEDHydroponics
11.9.1. Snapshot
11.9.2. Overview
11.9.3. Offerings
11.9.4. Financial Insight
11.9.5. Recent Developments
11.10. Fionia Lighting
11.10.1. Snapshot
11.10.2. Overview
11.10.3. Offerings
11.10.4. Financial Insight
11.10.5. Recent Developments
11.11. NET LED Limited
11.11.1. Snapshot
11.11.2. Overview
11.11.3. Offerings
11.11.4. Financial Insight
11.11.5. Recent Developments
11.12. Apollo Horticulture
11.12.1. Snapshot
11.12.2. Overview
11.12.3. Offerings
11.12.4. Financial Insight
11.12.5. Recent Developments
11.13. Grow LED Hydro
11.13.1. Snapshot
11.13.2. Overview
11.13.3. Offerings
11.13.4. Financial Insight
11.13.5. Recent Developments
11.14. California LightWorks
11.14.1. Snapshot
11.14.2. Overview
11.14.3. Offerings
11.14.4. Financial Insight
11.14.5. Recent Developments
11.15. Kessil
11.15.1. Snapshot
11.15.2. Overview
11.15.3. Offerings
11.15.4. Financial Insight
11.15.5. Recent Developments
11.16. Kind LED Grow Lights
11.16.1. Snapshot
11.16.2. Overview
11.16.3. Offerings
11.16.4. Financial Insight
11.16.5. Recent Developments
11.17. Spectrum King LED Grow Lights
11.17.1. Snapshot
11.17.2. Overview
11.17.3. Offerings
11.17.4. Financial Insight
11.17.5. Recent Developments
11.18. Sunprou Opto-Technology Co. Ltd.
11.18.1. Snapshot
11.18.2. Overview
11.18.3. Offerings
11.18.4. Financial Insight
11.18.5. Recent Developments
11.19. Shenzhen Jing Chuang Xing Technology Co., Ltd.
11.19.1. Snapshot
11.19.2. Overview
11.19.3. Offerings
11.19.4. Financial Insight
11.19.5. Recent Developments
Note: Financial insight and recent developments are subject to availability of information in secondary domain.
12. Appendix
12.1. Exchange Rates
12.2. Abbreviations
List of Tables
Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Asia-Pacific Vertical Farming Market Size, by Offering, 2014 – 2017 (USD Million)
Table 5 Asia-Pacific Vertical Farming Market Size, by Offering, 2018 – 2024 (USD Million)
Table 6 Asia-Pacific Vertical Farming Market Size, by Growth Mechanism, 2014 – 2017 (USD Million)
Table 7 Asia-Pacific Vertical Farming Market Size, by Growth Mechanism, 2018 – 2024 (USD Million)
Table 8 Asia-Pacific Vertical Farming Market Size, by Structure, 2014 – 2017 (USD Million)
Table 9 Asia-Pacific Vertical Farming Market Size, by Structure, 2018 – 2024 (USD Million)
Table 10 Asia-Pacific Vertical Farming Market Size, by Crop Type, 2014 – 2017 (USD Million)
Table 11 Asia-Pacific Vertical Farming Market Size, by Crop Type, 2018 – 2024 (USD Million)
Table 12 Asia-Pacific Vertical Farming Market Size, by Country, 2014 – 2017 (USD Million)
Table 13 Asia-Pacific Vertical Farming Market Size, by Country, 2018 – 2024 (USD Million)
Table 14 China Vertical Farming Market Size, by Offering, 2014 – 2017 (USD Million)
Table 15 China Vertical Farming Market Size, by Offering, 2018 – 2024 (USD Million)
Table 16 China Vertical Farming Market Size, by Growth Mechanism, 2014 – 2017 (USD Million)
Table 17 China Vertical Farming Market Size, by Growth Mechanism, 2018 – 2024 (USD Million)
Table 18 China Vertical Farming Market Size, by Structure, 2014 – 2017 (USD Million)
Table 19 China Vertical Farming Market Size, by Structure, 2018 – 2024 (USD Million)
Table 20 China Vertical Farming Market Size, by Crop Type, 2014 – 2017 (USD Million)
Table 21 China Vertical Farming Market Size, by Crop Type, 2018 – 2024 (USD Million)
Table 22 Japan Vertical Farming Market Size, by Offering, 2014 – 2017 (USD Million)
Table 23 Japan Vertical Farming Market Size, by Offering, 2018 – 2024 (USD Million)
Table 24 Japan Vertical Farming Market Size, by Growth Mechanism, 2014 – 2017 (USD Million)
Table 25 Japan Vertical Farming Market Size, by Growth Mechanism, 2018 – 2024 (USD Million)
Table 26 Japan Vertical Farming Market Size, by Structure, 2014 – 2017 (USD Million)
Table 27 Japan Vertical Farming Market Size, by Structure, 2018 – 2024 (USD Million)
Table 28 Japan Vertical Farming Market Size, by Crop Type, 2014 – 2017 (USD Million)
Table 29 Japan Vertical Farming Market Size, by Crop Type, 2018 – 2024 (USD Million)
Table 30 Singapore Vertical Farming Market Size, by Offering, 2014 – 2017 (USD Million)
Table 31 Singapore Vertical Farming Market Size, by Offering, 2018 – 2024 (USD Million)
Table 32 Singapore Vertical Farming Market Size, by Growth Mechanism, 2014 – 2017 (USD Million)
Table 33 Singapore Vertical Farming Market Size, by Growth Mechanism, 2018 – 2024 (USD Million)
Table 34 Singapore Vertical Farming Market Size, by Structure, 2014 – 2017 (USD Million)
Table 35 Singapore Vertical Farming Market Size, by Structure, 2018 – 2024 (USD Million)
Table 36 Singapore Vertical Farming Market Size, by Crop Type, 2014 – 2017 (USD Million)
Table 37 Singapore Vertical Farming Market Size, by Crop Type, 2018 – 2024 (USD Million)
Table 38 Taiwan Vertical Farming Market Size, by Offering, 2014 – 2017 (USD Million)
Table 39 Taiwan Vertical Farming Market Size, by Offering, 2018 – 2024 (USD Million)
Table 40 Taiwan Vertical Farming Market Size, by Growth Mechanism, 2014 – 2017 (USD Million)
Table 41 Taiwan Vertical Farming Market Size, by Growth Mechanism, 2018 – 2024 (USD Million)
Table 42 Taiwan Vertical Farming Market Size, by Structure, 2014 – 2017 (USD Million)
Table 43 Taiwan Vertical Farming Market Size, by Structure, 2018 – 2024 (USD Million)
Table 44 Taiwan Vertical Farming Market Size, by Crop Type, 2014 – 2017 (USD Million)
Table 45 Taiwan Vertical Farming Market Size, by Crop Type, 2018 – 2024 (USD Million)
Table 46 Rest of Asia-Pacific Vertical Farming Market Size, by Offering, 2014 – 2017 (USD Million)
Table 47 Rest of Asia-Pacific Vertical Farming Market Size, by Offering, 2018 – 2024 (USD Million)
Table 48 Rest of Asia-Pacific Vertical Farming Market Size, by Growth Mechanism, 2014 – 2017 (USD Million)
Table 49 Rest of Asia-Pacific Vertical Farming Market Size, by Growth Mechanism, 2018 – 2024 (USD Million)
Table 50 Rest of Asia-Pacific Vertical Farming Market Size, by Structure, 2014 – 2017 (USD Million)
Table 51 Rest of Asia-Pacific Vertical Farming Market Size, by Structure, 2018 – 2024 (USD Million)
Table 52 Rest of Asia-Pacific Vertical Farming Market Size, by Crop Type, 2014 – 2017 (USD Million)
Table 53 Rest of Asia-Pacific Vertical Farming Market Size, by Crop Type, 2018 – 2024 (USD Million)
Table 54 Snapshot – Koninklijke Philips N.V.
Table 55 Snapshot – OSRAM GmbH
Table 56 Snapshot – Illumitex
Table 57 Snapshot – GE
Table 58 Snapshot – Valoya Oy
Table 59 Snapshot – Everlight Electronics Co. Ltd.
Table 60 Snapshot – Epistar Corporation
Table 61 Snapshot – LumiGrow Inc.
Table 62 Snapshot – LEDHydroponics
Table 63 Snapshot – Fionia Lighting
Table 64 Snapshot – NET LED Limited
Table 65 Snapshot – Apollo Horticulture
Table 66 Snapshot – Grow LED Hydro
Table 67 Snapshot – California LightWorks
Table 68 Snapshot – Kessil
Table 69 Snapshot – Kind LED Grow Lights
Table 70 Snapshot – Spectrum King LED Grow Lights
Table 71 Snapshot – Sunprou Opto-Technology Co. Ltd.
Table 72 Snapshot – Shenzhen Jing Chuang Xing Technology Co., Ltd.
List of Figures
Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Offerings for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Asia-Pacific Vertical Farming Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Asia-Pacific Vertical Farming Market Highlight
Figure 12 Asia-Pacific Vertical Farming Market Size, by Offering, 2014 – 2024 (USD Million)
Figure 13 Asia-Pacific Vertical Farming Market Size, by Growth Mechanism, 2014 – 2024 (USD Million)
Figure 14 Asia-Pacific Vertical Farming Market Size, by Structure, 2014 – 2024 (USD Million)
Figure 15 Asia-Pacific Vertical Farming Market Size, by Crop Type, 2014 – 2024 (USD Million)
Figure 16 Asia-Pacific Vertical Farming Market Size, by Country, 2014 – 2024 (USD Million)
Figure 17 China Vertical Farming Market Size, by Offering, 2014 – 2024 (USD Million)
Figure 18 China Vertical Farming Market Size, by Growth Mechanism, 2014 – 2024 (USD Million)
Figure 19 China Vertical Farming Market Size, by Structure, 2014 – 2024 (USD Million)
Figure 20 China Vertical Farming Market Size, by Crop Type, 2014 – 2024 (USD Million)
Figure 21 Japan Vertical Farming Market Size, by Offering, 2014 – 2024 (USD Million)
Figure 22 Japan Vertical Farming Market Size, by Growth Mechanism, 2014 – 2024 (USD Million)
Figure 23 Japan Vertical Farming Market Size, by Structure, 2014 – 2024 (USD Million)
Figure 24 Japan Vertical Farming Market Size, by Crop Type, 2014 – 2024 (USD Million)
Figure 25 Singapore Vertical Farming Market Size, by Offering, 2014 – 2024 (USD Million)
Figure 26 Singapore Vertical Farming Market Size, by Growth Mechanism, 2014 – 2024 (USD Million)
Figure 27 Singapore Vertical Farming Market Size, by Structure, 2014 – 2024 (USD Million)
Figure 28 Singapore Vertical Farming Market Size, by Crop Type, 2014 – 2024 (USD Million)
Figure 29 Taiwan Vertical Farming Market Size, by Offering, 2014 – 2024 (USD Million)
Figure 30 Taiwan Vertical Farming Market Size, by Growth Mechanism, 2014 – 2024 (USD Million)
Figure 31 Taiwan Vertical Farming Market Size, by Structure, 2014 – 2024 (USD Million)
Figure 32 Taiwan Vertical Farming Market Size, by Crop Type, 2014 – 2024 (USD Million)
Figure 33 Rest of Asia-Pacific Vertical Farming Market Size, by Offering, 2014 – 2024 (USD Million)
Figure 34 Rest of Asia-Pacific Vertical Farming Market Size, by Growth Mechanism, 2014 – 2024 (USD Million)
Figure 35 Rest of Asia-Pacific Vertical Farming Market Size, by Structure, 2014 – 2024 (USD Million)
Figure 36 Rest of Asia-Pacific Vertical Farming Market Size, by Crop Type, 2014 – 2024 (USD Million)
Asia-Pacific Vertical Farming Market Coverage
Offering Insight and Forecast 2014-2024
Growth Mechanism Insight and Forecast 2014-2024
Structure Insight and Forecast 2014-2024
Crop Type Insight and Forecast 2014-2024
Geographical Segmentation
Vertical Farming Market by Country
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