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Asia Pacific Vertical Farming Market 2024-2033 by Mechanism (Hydroponics, Aquaponics, Aeroponics), Component (Lighting, Hydroponic Components, Climate Control, Sensing), Structure (Building-based, Container-based), Application Type (Indoor, Outdoor), Crop (Tomatoes, Lettuce, Leafy Greens, Peppers, Herbs, Strawberry), and Country: Trend Forecast and Growth Opportunity

  • Report ID: 65309
  • Date: May, 2024
  • Pages: 117
  • Category: Consumer Goods

Asia Pacific vertical farming market will grow by 25.0% annually with a total addressable market cap of $ 56,942.3 million over 2023-2033, driven by the rapid urbanization, rising demand for high quality and high level of food safety, declining arable land, advantages of vertical farming equipped with advanced technologies, and independence of vertical farming from climate impacts.

Highlighted with 36 tables and 52 figures, this 117-page report “Asia Pacific Vertical Farming Market 2024-2033 by Mechanism (Hydroponics, Aquaponics, Aeroponics), Component (Lighting, Hydroponic Components, Climate Control, Sensing), Structure (Building-based, Container-based), Application Type (Indoor, Outdoor), Crop (Tomatoes, Lettuce, Leafy Greens, Peppers, Herbs, Strawberry), and Country: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire Asia Pacific vertical farming market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2021-2023 and provides forecast from 2024 till 2033 with 2023 as the base year.
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

In-depth qualitative analyses include identification and investigation of the following aspects:

• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces

The trend and outlook of Asia Pacific market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify Asia Pacific vertical farming market in every aspect of the classification from perspectives of Mechanism, Component, Structure, Application Type, Crop, and Country.

Based on Mechanism, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2024-2033 included in each section.

• Hydroponics
• Aquaponics
• Aeroponics

Based on Component, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2024-2033 included in each section.

• Lighting Devices
• Hydroponic Components
• Climate Control Devices
• Sensing Devices
• Irrigation Component
• Building Material
• Other Components

By Structure, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2024-2033 included in each section.

• Building-based Structure
• Container-based Structure

By Application Type, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2024-2033 included in each section.

• Indoor Vertical Farming
• Outdoor Vertical Farming

By Crop, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2024-2033 included in each section.

• Tomatoes
• Lettuce
• Leafy Greens (excluding lettuce)
• Bell & Chili Peppers
• Herbs
• Strawberry
• Other Crops

Geographically, the following national/local markets are fully investigated:

• Japan
• China
• South Korea
• Australia
• India
• Rest of APAC (further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)

For each key country, detailed analysis and data for annual revenue ($ mn) are available for 2024-2033. The breakdown of national markets by Mechanism, Component and Structure over the forecast years are also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Selected Key Players:

4D Bios, Inc.
AeroFarms
AgriCool
American Hydroponics
Bowery Farming Inc.
Crop One Holdings
Everlight Electronics Co., Ltd.
Freight Farms
Heliospectra AB
Kalera Inc.
OSRAM GmbH.
Plenty Unlimited Inc.
Signify Holding
Sky Greens
SPREAD Co., Ltd.
Urban Crop Solutions
Valoya
Vertical Farm Systems

(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

1 Introduction 7
1.1 Industry Definition and Research Scope 7
1.1.1 Industry Definition 7
1.1.2 Research Scope 8
1.2 Research Methodology 11
1.2.1 Overview of Market Research Methodology 11
1.2.2 Market Assumption 12
1.2.3 Secondary Data 12
1.2.4 Primary Data 12
1.2.5 Data Filtration and Model Design 13
1.2.6 Market Size/Share Estimation 14
1.2.7 Research Limitations 15
1.3 Executive Summary 16
2 Market Overview and Dynamics 19
2.1 Market Size and Forecast 19
2.1.1 Impact of COVID-19 on World Economy 20
2.1.2 Impact of COVID-19 on the Market 23
2.2 Major Growth Drivers 25
2.3 Market Restraints and Challenges 31
2.4 Emerging Opportunities and Market Trends 34
2.5 Porter’s Fiver Forces Analysis 38
3 Segmentation of Asia Pacific Market by Mechanism 42
3.1 Market Overview by Mechanism 42
3.2 Hydroponics 44
3.3 Aquaponics 45
3.4 Aeroponics 46
4 Segmentation of Asia Pacific Market by Component 47
4.1 Market Overview by Component 47
4.2 Lighting Devices 49
4.3 Hydroponic Components 51
4.4 Climate Control Devices 52
4.5 Sensing Devices 54
4.6 Irrigation Component 56
4.7 Building Material 58
4.8 Other Components 59
5 Segmentation of Asia Pacific Market by Structure 61
5.1 Market Overview by Structure 61
5.2 Building-based Structure 63
5.3 Container-based Structure 64
6 Segmentation of Asia Pacific Market by Application Type 65
6.1 Market Overview by Application Type 65
6.2 Indoor Vertical Farming 67
6.3 Outdoor Vertical Farming 68
7 Segmentation of Asia Pacific Market by Crop 69
7.1 Market Overview by Crop 69
7.2 Tomatoes 71
7.3 Lettuce 72
7.4 Leafy Greens (excluding lettuce) 73
7.5 Bell & Chili Peppers 74
7.6 Herbs 75
7.7 Strawberry 76
7.8 Other Crops 77
8 Asia-Pacific Market 2022-2032 by Country 78
8.1 Overview of Asia-Pacific Market 78
8.2 Japan 81
8.3 China 84
8.4 Australia 86
8.5 India 88
8.6 South Korea 90
8.7 Rest of APAC Region 92
9 Competitive Landscape 94
9.1 Overview of Key Vendors 94
9.2 New Product Launch, Partnership, Investment, and M&A 97
9.3 Company Profiles 98
4D Bios, Inc. 98
AeroFarms 100
AgriCool 101
American Hydroponics 102
Bowery Farming Inc. 103
Crop One Holdings 104
Everlight Electronics Co., Ltd. 105
Freight Farms 106
Heliospectra AB 107
Kalera Inc. 108
OSRAM GmbH. 109
Plenty Unlimited Inc. 110
Signify Holding 111
Sky Greens 112
SPREAD Co., Ltd. 113
Urban Crop Solutions 114
Valoya 115
Vertical Farm Systems 116
RELATED REPORTS 117


List of Tables

List of Tables:

Table 1. Snapshot of Asia Pacific Vertical Farming Market in Balanced Perspective, 2022-2032 17
Table 2. World Economic Outlook, 2021-2031 21
Table 3. World Economic Outlook, 2021-2023 22
Table 4. World Population Projections to 2035 28
Table 5. Worldwide Sales of Organic Food, 2022-2032, $ bn 30
Table 6. Main Product Trends and Market Opportunities in Asia Pacific Vertical Farming Market 34
Table 7. Asia Pacific Vertical Farming Market by Mechanism, 2022-2032, $ mn 42
Table 8. Asia Pacific Vertical Farming Market by Component, 2022-2032, $ mn 47
Table 9. Key Vendors and Main Products of Grow Lights Market 50
Table 10. Key Vendors and Main Products of Climate Control System Market 53
Table 11. Key Vendors and Main Products of Sensors Market 55
Table 12. Key Vendors and Main Products of Irrigation System Market 57
Table 13. Key Vendors and Main Products of Integrated System Market 60
Table 14. Asia Pacific Vertical Farming Market by Structure, 2022-2032, $ mn 61
Table 15. Asia Pacific Vertical Farming Market by Application Type, 2022-2032, $ mn 65
Table 16. Asia Pacific Vertical Farming Market by Crop, 2022-2032, $ mn 69
Table 17. APAC Vertical Farming Market by Country, 2022-2032, $ mn 79
Table 18. Japan Vertical Farming Market by Mechanism, 2022-2032, $ mn 83
Table 19. Japan Vertical Farming Market by Component, 2022-2032, $ mn 83
Table 20. Japan Vertical Farming Market by Structure, 2022-2032, $ mn 83
Table 21. China Vertical Farming Market by Mechanism, 2022-2032, $ mn 85
Table 22. China Vertical Farming Market by Component, 2022-2032, $ mn 85
Table 23. China Vertical Farming Market by Structure, 2022-2032, $ mn 85
Table 24. Australia Vertical Farming Market by Mechanism, 2022-2032, $ mn 87
Table 25. Australia Vertical Farming Market by Component, 2022-2032, $ mn 87
Table 26. Australia Vertical Farming Market by Structure, 2022-2032, $ mn 87
Table 27. India Vertical Farming Market by Mechanism, 2022-2032, $ mn 89
Table 28. India Vertical Farming Market by Component, 2022-2032, $ mn 89
Table 29. India Vertical Farming Market by Structure, 2022-2032, $ mn 89
Table 30. South Korea Vertical Farming Market by Mechanism, 2022-2032, $ mn 91
Table 31. South Korea Vertical Farming Market by Component, 2022-2032, $ mn 91
Table 32. South Korea Vertical Farming Market by Structure, 2022-2032, $ mn 91
Table 33. Vertical Farming Market in Rest of APAC by Country/Region, 2022-2032, $ mn 93
Table 34. 4D Bios, Inc.: Company Snapshot 98
Table 35. 4D Bios, Inc.: Business Segmentation 99
Table 36. 4D Bios, Inc.: Product Portfolio 99


List of Figures

List of Figures:

Figure 1. Research Method Flow Chart 11
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 14
Figure 3. Asia Pacific Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2022-2032 16
Figure 4. Asia Pacific Vertical Farming Market, 2022-2032, $ mn 19
Figure 5. Impact of COVID-19 on Business 23
Figure 6. Primary Drivers and Impact Factors of Asia Pacific Vertical Farming Market 25
Figure 7. Forecast of Middle-class Population by Region, 2015-2030, million 28
Figure 8. Worldwide Per Capita Arable Land in Hectare, 1961-2020 29
Figure 9. World Map of Per Capita Arable Land in 2020 29
Figure 10. Primary Restraints and Impact Factors of Asia Pacific Vertical Farming Market 31
Figure 11. Investment Opportunity Analysis 35
Figure 12. Porter’s Fiver Forces Analysis of Asia Pacific Vertical Farming Market 38
Figure 13. Breakdown of Asia Pacific Vertical Farming Market by Mechanism, 2022-2032, % of Revenue 43
Figure 14. Asia Pacific Addressable Market Cap in 2023-2032 by Mechanism, Value ($ mn) and Share (%) 43
Figure 15. Asia Pacific Vertical Farming Market by Mechanism: Hydroponics, 2022-2032, $ mn 44
Figure 16. Asia Pacific Vertical Farming Market by Mechanism: Aquaponics, 2022-2032, $ mn 45
Figure 17. Asia Pacific Vertical Farming Market by Mechanism: Aeroponics, 2022-2032, $ mn 46
Figure 18. Breakdown of Asia Pacific Vertical Farming Market by Component, 2022-2032, % of Sales Revenue 48
Figure 19. Asia Pacific Addressable Market Cap in 2023-2032 by Component, Value ($ mn) and Share (%) 48
Figure 20. Asia Pacific Vertical Farming Market by Component: Lighting Devices, 2022-2032, $ mn 49
Figure 21. Asia Pacific Vertical Farming Market by Component: Hydroponic Components, 2022-2032, $ mn 51
Figure 22. Asia Pacific Vertical Farming Market by Component: Climate Control Devices, 2022-2032, $ mn 52
Figure 23. Asia Pacific Vertical Farming Market by Component: Sensing Devices, 2022-2032, $ mn 54
Figure 24. Asia Pacific Vertical Farming Market by Component: Irrigation Component, 2022-2032, $ mn 56
Figure 25. Asia Pacific Vertical Farming Market by Component: Building Material, 2022-2032, $ mn 58
Figure 26. Asia Pacific Vertical Farming Market by Component: Other Components, 2022-2032, $ mn 59
Figure 27. Breakdown of Asia Pacific Vertical Farming Market by Structure, 2022-2032, % of Sales Revenue 62
Figure 28. Asia Pacific Addressable Market Cap in 2023-2032 by Structure, Value ($ mn) and Share (%) 62
Figure 29. Asia Pacific Vertical Farming Market by Structure: Building-based Structure, 2022-2032, $ mn 63
Figure 30. Asia Pacific Vertical Farming Market by Structure: Container-based Structure, 2022-2032, $ mn 64
Figure 31. Breakdown of Asia Pacific Vertical Farming Market by Application Type, 2022-2032, % of Revenue 66
Figure 32. Asia Pacific Addressable Market Cap in 2023-2032 by Application Type, Value ($ mn) and Share (%) 66
Figure 33. Asia Pacific Vertical Farming Market by Application Type: Indoor Vertical Farming, 2022-2032, $ mn 67
Figure 34. Asia Pacific Vertical Farming Market by Application Type: Outdoor Vertical Farming, 2022-2032, $ mn 68
Figure 35. Breakdown of Asia Pacific Vertical Farming Market by Crop, 2022-2032, % of Revenue 70
Figure 36. Asia Pacific Addressable Market Cap in 2023-2032 by Crop, Value ($ mn) and Share (%) 70
Figure 37. Asia Pacific Vertical Farming Market by Crop: Tomatoes, 2022-2032, $ mn 71
Figure 38. Asia Pacific Vertical Farming Market by Crop: Lettuce, 2022-2032, $ mn 72
Figure 39. Asia Pacific Vertical Farming Market by Crop: Leafy Greens (excluding lettuce), 2022-2032, $ mn 73
Figure 40. Asia Pacific Vertical Farming Market by Crop: Bell & Chili Peppers, 2022-2032, $ mn 74
Figure 41. Asia Pacific Vertical Farming Market by Crop: Herbs, 2022-2032, $ mn 75
Figure 42. Asia Pacific Vertical Farming Market by Crop: Strawberry, 2022-2032, $ mn 76
Figure 43. Asia Pacific Vertical Farming Market by Crop: Other Crops, 2022-2032, $ mn 77
Figure 44. Breakdown of APAC Vertical Farming Market by Country, 2022 and 2032, % of Revenue 79
Figure 45. Contribution to APAC 2023-2032 Cumulative Market by Country, Value ($ mn) and Share (%) 80
Figure 46. Vertical Farming Market in Japan, 2022-2032, $ mn 82
Figure 47. Vertical Farming Market in China, 2022-2032, $ mn 84
Figure 48. Vertical Farming Market in Australia, 2022-2032, $ mn 86
Figure 49. Vertical Farming Market in India, 2022-2032, $ mn 88
Figure 50. Vertical Farming Market in South Korea, 2022-2032, $ mn 90
Figure 51. Vertical Farming Market in Rest of APAC, 2022-2032, $ mn 92
Figure 52. Growth Stage of Asia Pacific Vertical Farming Industry over the Forecast Period 94


Research methodology is mainly referring to the practical how of any offered piece of research. More specifically, it’s all about how a researcher systematically designs a study in order to assure extremely valid as well as reliable results that ultimately address the targets and objectives of the research.

In any formal research including academic journal, article, dissertation and so on, there will be a special section on a research methodology that mainly describes what, by whom, how to gather as well as how to evaluate the data are provided.

This research methodology has been segmented into following types:

Primary Research:

It is said to be original information that the researchers collect for the crucial purposes of answering the research questions of readers with the help of surveys, observations and experiments.

Secondary Research:

The secondary research is the data that has already been collected by various other researchers in the form of government analysis or scientific studies.

Qualitative Research:

It is descriptive and subjective method irrespective of facts. Both observation and description are essential in this type of research methodology. Its main vision is to analyze knowledge, attitudes, behaviours as well as opinions of people related to the topic of any research. This method has been operated through grounded research, case study and actionable research.

Quantitative Research:

It contains several laboratory experiments, basic surveys, mathematical calculations, simulations and so on. The possible measurement, quantity or amount is considered to be a major factor in the quantitative research methodology.

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