Vertical Farming

Vertical Farm Operators, Vertical Farm manufacturers and suppliers

Decreasing number of farmers due to aging population and lack of successors is one of the pressing issues for domestic agriculture. With the establishment of energy-saving and low-cost production structure in large-scale operation and the recommended use of technological capabilities of the private sector, ICT/robotic sensor technologies, and IoT and other cutting-edge technologies, it is said to be imperative for domestic agriculture to transform into the sixth industry by aligning with various enterprises in the food, ready-to-eat food, and food service industries.
Vertical farming enables stable production unaffected by seasons and weather conditions and achieves highly efficient production per area, which is attracting various industries to enter. According to the Ministry of Agriculture, Forestry and Fisheries, as of February 2023, there were 194 vertical farms using artificial lighting, almost double the number of 106 in March 2012.
Meanwhile, there are various problems for vertical farm operators such as "cultivation improvement", which includes temperature and humidity control and task management, and "business relationship building", which includes finding stable business partners and increasing unit prices. This indicates that full-fledged industrialization is still halfway.
The report compiles research and analysis on how major vertical farming operators and suppliers, and clarifies the current challenges and solution directions, providing perspectives on future marketability.

I   Perspectives and Noteworthy Trends of Vertical Farming Market

1. Outline of Vertical Farming
2. Vertical Farming Market Demand:
   1) Global needs: Contributions to increasing food demand, SDGs, and food security
   2) Domestic needs: Contributions to shortage and aging of manpower and to efficient production 
3. Vertical Farming Regulations and Certifications
4. Measures Against Soaring Costs at Vertical Farming
   1) Soaring running costs (electricity, manpower wages, agricultural materials)
   2) Initiatives Against 2024 Logistics Issues
5. Vertical Farming and Involvement of People with Disabilities in Agriculture, and Utilization of Idle Land -> Regional Contributions, Regional Revitalization
6. Future Perspectives of Vertical Farming Market in Japan
7. Future Direction of Vertical Farming

II    Trend of Major Vertical Farming Businesses

1. Reason for Business Entry by Major Companies
2. Cultivation Overview
3. Trend of Promising Plants for Artificial-Lighting
   1) Major Promising Plants
   2) Strawberries
   3) Herbs
   4) Soybeans for plant-based meat/seafood
   5) Edible flowers
   6) Wasabi
   7) Others (Melon, Rice)
4. Facilities for Cultivation
5. Usage of Various Subsidies
6. Energy Saving /Cost Saving Initiatives
7. Distribution/Sales Structure
8. Challenges/Issues
9. Business Strategy
10. Trend of Overseas Development by Vertical Farm Businesses
11. Trend of Major Vertical Farm Operators Overseas
    1) Trend of Vertical Farm Operators Overseas
    2) Cases of Suspended Vertical Farms Overseas
    3) Noteworthy Vertical Farm Operators Overseas
    　　　　1.Alga Farm Tech. (South Korea)
    　　　　2.Badia Farms (UAE)
    　　　　3.Bowery Farming Inc. (USA)
    　　　　4.Crop One Holdings, Inc. (USA)
    　　　　5.CubicFarms (Canada)
    　　　　6.80 Acres Farms (USA)
    　　　　7.Elevate Farms (Canada)
    　　　　8.Farm 8 Co., Ltd. (South Korea)
    　　　　9.FIRMMIT Co., Ltd. (South Korea)
    　　　　10.Fischer Farms (UK)
    　　　　11.Freight Farms (USA)
    　　　　12.Greenspace ESG (Australia)
    　　　　13.GrowUp Farms (UK)
    　　　　14.iFarm (UAE)
    　　　　15.Jones Food Company Ltd. (UK)）
    　　　　16.Leafood (Lithuania)
    　　　　17.LettUs Grow (UK)
    　　　　18.Ljusgårda (Sweden)
    　　　　19.LUFA FARMS (Canada)
    　　　　20.Nexton Co., Ltd. (South Korea)
    　　　　21.N.THING Inc. (South Korea)
    　　　　22.Pink Farms (Brazil)
    　　　　23.Plenty Unlimited Inc., (USA)
    　　　　24.Stacked Farm (Australia)
    　　　　25.SANANBIO-Fujian Sanan Sino-Science Photobiotech Co.,Ltd. (China)
    　　　　26.SATIVUS TECH CORP (Israel)
    　　　　27.Singrow Pte Ltd (Singapore)
    　　　　28.Sustenir Agriculture (Singapore)
    　　　　29.Tower Farm (France)
    　　　　30.Urban Crop Solutions (Belgium)
    　　　　31.Urban Harvest (Belgium)
    　　　　32.VAXA (Iceland)
    　　　　33.Vertical Future (UK)
    　　　　34.Vertical roots (USA)
    　　　　35.YASAI (Switzerland)
    　　　　36.YesHealth Group (Taiwan)
    　　　　37.ZipGrow Inc. (Canada)
    4) List of Vertical Farming Businesses Overseas

III    Trend of Major Vertical Farm Manufacturers and Suppliers

1. Market Trends of Vertical Farming Materials and Systems
   1) Solution Culture System
   2) Light Source for Raising Plants
   3) Environmental Complex Control System
   4) Automation System
   5) Entrant Companies:

• CANON ELECTRONICS INC.
• HarvestX Inc.,
• Food & Agri Mechatro Solution. Inc.

2. Major Products Dealing In
3. Product Policy/ Direction of Development
4. Sales Trends
5. Demand Sectors
6. Distribution Flow, Sales Channel
7. Challenges and Problems
8. Energy Saving /Cost Saving Initiatives
9. Trend of Standardization of Materials/Consulting Business
10. Future Corporate Strategy
11. Future Market Perspectives
12.  Trends of Overseas Development by Material/Consulting Businesses

IV    Purchase Status of Vertical Farm Vegetables

1. Online Consumer Survey
   1) Overview of the online consumer survey
   2) Questionnaire results
   3) AI-powered analytics results
2. Purchase Status of Vertical Farming Vegetables

V    Questionnaire to Vertical Farm Operators

1. Questionnaire Collection Results
2. Responded Company Attributes
3. Latest Financial Performances (Based on Operating Profits)
4. Years until Business Stabilized (largest number of responses was 4-6 years from the launch)
5. Influence of Rising Production Cost to Corporate Management
6. Rise of Production Costs
7. Current Light Sources for Plant Cultivation
8. Future Intention for Business Expansion (Expanding Production Scale)
9. Others Free Opinions regarding Vertical Farming
10. List of Businesses Withdrawn from Plant Factories (The questionnaire has found out that more than 30 companies have suspended the operation or withdrawn from business)

• List of 51 Vertical Farm Companies using 100% Artificial Light Sources

VI    Profiles of Major Companies

1. Vertical Farm Operators: 13 Companies
2. Vertical Farm Manufacturers/Suppliers: 18 Companies