Asia Pacific Vertical Farming Crops Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Crop Type (Tomato, Leafy Greens, Herbs, and Others), End-Use (Food Retail, and Food Service), and Farming Technique (Hydroponics, Aeroponics, and Aquaponics)
The vertical farming crops market in Asia Pacific is expected to grow from US$ 41.29 million in 2021 to US$ 200.87 million by 2028; it is estimated to grow at a CAGR of 25.4% from 2021 to 2028.
In recent years, a new urban environment in metropolitan areas emerged. It is estimated that more than five billion people will be located in urban areas by 2030. Many megacities initiated projects to support the new ecosystem services in providing the most sustainable and efficient food supply solutions and transporting fresh and clean vegetables. One of the most important focus areas is research on energy sustainability, including optimizing energy efficiency to meet citizens' and companies' needs. Indoor urban vertical farming (IUVF) is one of the most outstanding achievements in agriculture, as it is entirely focused on meeting the food needs of people living in urban areas with the lowest environmental and energy costs. IUVF creates a new foundation in the urban food production system, providing opportunities for other sustainable activities, such as energy and greywater recycling. IVUF also helps citizens access fresh and nutritious fruits and vegetables and become more creative, building up their skills regarding sustainable food production. Vertical farming is gaining importance throughout several urban cities worldwide due to its beneficial role in agriculture. Vertical farming also reduces transportation costs as the farms are located adjacent to the distribution sites. Planned production of crops and their growing conditions can be enhanced by adjusting the temperature, humidity, and lighting conditions. Thus, this has increased the popularity of vertical farming across urban areas and metro cities, which is expected to open lucrative growth opportunities in future years.
The COVID-19 pandemic severely impacted Asia-Pacific economies, including China, India, Japan, and South Korea. Due to labor shortage and supply chain disruption, many sectors, including the region's food and beverage industry, got adversely affected. However, the COVID-19 outbreak led to several opportunities in the vertical farming industry. The pandemic led to increased interest in urban agriculture. For instance, in February 2020, East Japan Railway Company (JR East) partnered with Infarm to deliver fresh produce grown and harvested in retail stores. Such developments are boosting the market growth even further. Moreover, as the global marketplace is recovering from the losses, the vertical farming market is growing exponentially.
Vendors can attract new customers and expand their footprints in emerging markets with the new features and technologies, thereby driving the Asia Pacific vertical farming crops market. The Asia Pacific vertical farming crops market is expected to grow at a significant CAGR during the forecast period.
Asia Pacific Vertical Farming Crops Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific Vertical Farming Crops Market Segmentation
Asia Pacific Vertical Farming Crops Market – By Crop Type
- Tomato
- Leafy Greens
- Herbs
- Others
Asia Pacific Vertical Farming Crops Market – By End-Use
- Food Service
- Food Retail
Asia Pacific Vertical Farming Crops Market – By Farming Technique
- Hydroponics
- Aeroponics
- Aquaponics
Asia Pacific Vertical Farming Crops Market – By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
Asia Pacific Vertical Farming Crops Market – Companies Mentioned
- AeroFarms
- CropOne
- Plantlab
- Gotham Greens
- Infarm
- MIRAI Co., Ltd.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis Formulation:
3.2.4 Macro-economic Factor Analysis:
3.2.5 Developing Base Number:
3.2.6 Data Triangulation:
3.2.7 Country Level Data:
3.2.8 Assumptions & Limitations:
4. Asia Pacific Vertical Farming Crops Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Expert Opinion
5. Asia Pacific Vertical Farming Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Demand for Fresh, Pesticide-Free, and Locally Grown Produce
5.1.2 Meagre Availability of Arable Land for Conventional Agriculture
5.2 Market Restraints
5.2.1 Higher Initial Investment
5.3 Market Opportunities
5.3.1 Raising Demand for Vertical Farming in Highly Populated Urban Countries
5.4 Future Trends
5.4.1 AI-Controlled Vertical Farms
5.5 Impact Analysis of Drivers and Restraints
6. Asia Pacific Vertical Farming Crops – Market Analysis
6.1 Asia Pacific Vertical Farming Crops Market Overview
6.2 Asia Pacific Vertical Farming Crops Market –Revenue and Forecast to 2028 (US$ Million)
7. Asia Pacific Vertical Farming Market Analysis – By Crop Type
7.1 Overview
7.2 Asia Pacific Vertical Farming Market, By Crop Type (2020 and 2028)
7.3 Tomato
7.3.1 Overview
7.3.2 Tomato: Vertical Farming Crops Market – Revenue, and Forecast to 2028 (US$ Million)
7.4 Leafy Greens
7.4.1 Overview
7.4.2 Leafy Greens: Vertical Farming Crops Market – Revenue, and Forecast to 2028 (US$ Million)
7.5 Herbs
7.5.1 Overview
7.5.2 Herbs: Vertical Farming Crops Market – Revenue, and Forecast to 2028 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Vertical Farming Crops Market – Revenue, and Forecast to 2028 (US$ Million)
8. Asia Pacific Vertical Farming Market Analysis – By End-Use
8.1 Overview
8.2 Asia Pacific Vertical Farming Crops Market, By End-Use (2020 and 2028)
8.3 Food Retail
8.3.1 Overview
8.3.2 Food Retail: Vertical Farming Crops Market – Revenue, and Forecast to 2028 (US$ Million)
8.4 Food Service
8.4.1 Overview
8.4.2 Food Service: Vertical Farming Crops Market – Revenue, and Forecast to 2028 (US$ Million)
9. Asia Pacific Vertical Farming Market Analysis – By Farming Technique
9.1 Overview
9.2 Asia Pacific Vertical Farming Crops Market, By Farming Technique (2020 and 2028)
9.3 Hydroponics
9.3.1 Overview
9.3.2 Hydroponics: Vertical Farming Crops Market – Revenue, and Forecast to 2028 (US$ Million)
9.4 Aeroponics
9.4.1 Overview
9.4.2 Aeroponics: Vertical Farming Crops Market – Revenue, and Forecast to 2028 (US$ Million)
9.5 Aquaponics
9.5.1 Overview
9.5.2 Aquaponics: Vertical Farming Crops Market – Revenue, and Forecast to 2028 (US$ Million)
10. Asia Pacific Vertical Farming Crops Market – Country Analysis
10.1 Overview
10.1.1 Asia Pacific: Vertical Farming Crops Market, by Key Country
10.1.1.1 Australia: Vertical Farming Crops Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 Australia: Vertical Farming Crops Market, by Crop Type
10.1.1.1.2 Australia: Vertical Farming Crops Market, by End-Use
10.1.1.1.3 Australia: Vertical Farming Crops Market, by Farming Technique
10.1.1.2 China: Vertical Farming Crops Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 China: Vertical Farming Crops Market, by Crop Type
10.1.1.2.2 China: Vertical Farming Crops Market, by End-Use
10.1.1.2.3 China: Vertical Farming Crops Market, by Farming Technique
10.1.1.3 India: Vertical Farming Crops Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 India: Vertical Farming Crops Market, by Crop Type
10.1.1.3.2 India: Vertical Farming Crops Market, by End-Use
10.1.1.3.3 India: Vertical Farming Crops Market, by Farming Technique
10.1.1.4 Japan: Vertical Farming Crops Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 Japan: Vertical Farming Crops Market, by Crop Type
10.1.1.4.2 Japan: Vertical Farming Crops Market, by End-Use
10.1.1.4.3 Japan: Vertical Farming Crops Market, by Farming Technique
10.1.1.5 South Korea: Vertical Farming Crops Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.5.1 South Korea: Vertical Farming Crops Market, by Crop Type
10.1.1.5.2 South Korea: Vertical Farming Crops Market, by End-Use
10.1.1.5.3 South Korea: Vertical Farming Crops Market, by Farming Technique
10.1.1.6 Rest of Asia Pacific: Vertical Farming Crops Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.6.1 Rest of Asia Pacific: Vertical Farming Crops Market, by Crop Type
10.1.1.6.2 Rest of Asia Pacific: Vertical Farming Crops Market, by End-Use
10.1.1.6.3 Rest of Asia Pacific: Vertical Farming Crops Market, by Farming Technique
11. Impact of COVID-19 Pandemic on Asia Pacific Vertical Farming Crops Market
11.1 Overview
12. Industry Landscape
12.1 Overview
12.2 Strategy & Business Planning
12.3 Merger and Acquisition
13. Company Profiles
13.1 AeroFarms
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 CropOne
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Infarm
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Plantlab
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Gotham Greens
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 MIRAI Co., Ltd.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. Asia Pacific Vertical Farming Crops Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. Asia Pacific Vertical Farming Crops Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia Vertical Farming Crops Market, by Crop Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia Vertical Farming Crops Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 5. Australia Vertical Farming Crops Market, by Farming Technique – Revenue and Forecast to 2028 (US$ Million)
Table 6. China Vertical Farming Crops Market, by Crop Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. China Vertical Farming Crops Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 8. China Vertical Farming Crops Market, by Farming Technique – Revenue and Forecast to 2028 (US$ Million)
Table 9. India Vertical Farming Crops Market, by Crop Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. India Vertical Farming Crops Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 11. India Vertical Farming Crops Market, by Farming Technique – Revenue and Forecast to 2028 (US$ Million)
Table 12. Japan Vertical Farming Crops Market, by Crop Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Japan Vertical Farming Crops Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 14. Japan Vertical Farming Crops Market, by Farming Technique – Revenue and Forecast to 2028 (US$ Million)
Table 15. South Korea Vertical Farming Crops Market, by Crop Type – Revenue and Forecast to 2028 (US$ Million)
Table 16. South Korea Vertical Farming Crops Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 17. South Korea Vertical Farming Crops Market, by Farming Technique – Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of Asia Pacific Vertical Farming Crops Market, by Crop Type – Revenue and Forecast to 2028 (US$ Million)
Table 19. Rest of Asia Pacific Vertical Farming Crops Market, by Crop Type – Revenue and Forecast to 2028 (US$ Million)
Table 20. Rest of Asia Pacific Vertical Farming Crops Market, by Farming Technique – Revenue and Forecast to 2028 (US$ Million)
Table 21. Glossary of Terms, Asia Pacific Vertical Farming Crops Market
LIST OF FIGURES
Figure 1. Asia Pacific Vertical Farming Crops Market Segmentation
Figure 2. Asia Pacific Vertical Farming Crops Market Segmentation – By Country
Figure 3. Asia Pacific Vertical Farming Crops Market Overview
Figure 4. Asia Pacific Vertical Farming Crops Market, By Crop Type
Figure 5. Asia Pacific Vertical Farming Crops Market, By Country
Figure 6. Asia Pacific Vertical Farming Crops Market, Industry Landscape
Figure 7. Asia Pacific: PEST Analysis
Figure 8. Expert Opinion
Figure 9. Asia Pacific Vertical Farming Crops Market Impact Analysis of Drivers and Restraints
Figure 10. Asia Pacific Vertical Farming Crops Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. Asia Pacific Vertical Farming Crops Market Revenue Share, by Crop Type (2020 and 2028)
Figure 12. Tomato: Vertical Farming Crops Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 13. Leafy Greens: Vertical Farming Crops Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Herbs: Vertical Farming Crops Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 15. Others: Vertical Farming Crops Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 16. Asia Pacific Vertical Farming Crops Market Revenue Share, by End-Use (2020 and 2028)
Figure 17. Food Retail: Vertical Farming Crops Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 18. Food Service: Vertical Farming Crops Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 19. Asia Pacific Vertical Farming Crops Market Revenue Share, by Farming Technique (2020 and 2028)
Figure 20. Hydroponics: Vertical Farming Crops Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 21. Aeroponics: Vertical Farming Crops Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 22. Aquaponics: Vertical Farming Crops Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 23. Geographic Overview of Asia Pacific Vertical Farming Crops Market
Figure 24. Asia Pacific: Vertical Farming Crops Market Revenue Share, by Key Country (2020 and 2028)
Figure 25. Australia: Vertical Farming Crops Market –Revenue and Forecast to 2028 (US$ Million)
Figure 26. China: Vertical Farming Crops Market –Revenue and Forecast to 2028 (US$ Million)
Figure 27. India: Vertical Farming Crops Market –Revenue and Forecast to 2028 (US$ Million)
Figure 28. Japan: Vertical Farming Crops Market –Revenue and Forecast to 2028 (US$ Million)
Figure 29. South Korea: Vertical Farming Crops Market –Revenue and Forecast to 2028 (US$ Million)
Figure 30. Rest of Asia Pacific: Vertical Farming Crops Market –Revenue and Forecast to 2028 (US$ Million)
Figure 31. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
- AeroFarms
- CropOne
- Plantlab
- Gotham Greens
- Infarm
- MIRAI Co., Ltd.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific vertical farming crops market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific vertical farming crops market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the vertical farming crops market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution