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Vertical Farming Market: Market Leadership
Vertical farming is a method of cultivating produce on the surface that is vertically inclined in an urban environment. Instead of having a single layer of crops over a large land area, stacks of crops are grown in an upward direction. In vertical farming, an artificial environment is created inside the facility by using technology that helps plants grow and gain more quality in terms of nutrition in a short span of time as compared to traditional farming. Technologies such as climate control, air purification, lighting system, and pump and irrigation system plays an important role in vertical farming. The growth of plants, productivity, and quality are dependent on the basis of these technologies.
AeroFarms (U.S.) is one of the market leaders in the vertical farming ecosystem. The key strategy adopted by the company is to expand its presence geographically so as to increase the market share. For instance, company built the world’s largest vertical farm in New Jersey, U.S. The company’s products are known for the unmatched freshness, flavors, and extensive varieties, and are of high-quality.
AeroFarms (U.S.) is also focusing on strategies such as partnership/ joint venture for expansion. For instance, AeroFarms partnered with EcoVeggies (U.S.), an urban farm to form a joint venture. EcoVeggies provided the funding for the installation and AeroFarms developed the urban farming solution. This partnership would revitalize urban farming.
Green Sense Farms (U.S.) owns and operates an indoor, commercial, vertical farm. Koninklijke Philips N.V (Netherlands), a global leader in lighting solutions, entered into a partnership agreement with Green Sense Farms (U.S.) to develop one of the largest indoor commercial farms in the U.S. using Philips LED grow lights. This would increase the company’s crop yields and reduce its operating costs.
In another new development Green Sense Farm (U.S.) announced to build an indoor farm in Shenzhen, China. The company would use Philips LED lighting solutions to grow produce such as arugulas, cilantros, kales, peas, and lettuces in the farm.
Vertical Farming Market by Functional Device (Lighting, Hydroponic Component, Climate Control, and Sensors), Growth Mechanism (Aeroponics, Hydroponics, and Others) and By Geography - Global Forecast to 2020
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