This report embodies the findings of a study of the vertical farming industry in North America commissioned by Monark Group in September 2016.

Three specific segments of the industry were examined:

  1. Food crops (indoor production of food under controlled environment conditions in nontraditional urban locations)
  2. Pharmaceutical crops (including functional foods, botanicals, and extracts)
  3. Medical cannabis (Canada only).

Each section of the report includes an industry scan, which provides background information on major vertical farm operations and close competitors, as well as background on the suppliers of equipment, technical services, and other inputs to producers. Following each industry scan is an indepth market assessment, which attempts to estimate a realistic market sales potential, given the emerging nature of each of these segments. These assessments aim to provide a deeper understanding of the market situation and the considerations of starting up, acquiring, or partnering with a vertical farming venture. This includes a greater level of detail on industry mechanics and business practices, and applies a critical lens to the often rosy projections of industry supporters and companies competing in the current startup funding environment.

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