The global vertical farming market size is expected to reach US$ 31.6 billion by 2030 from US$ 3.3 billion in 2020 and is expected to grow at an impressive double-digit rate of 25.2% from 2021 to 2030.
The study includes drivers and restraints of this market.
The study provides an analysis of the global vertical farming Market for the
period 2017-2030, wherein 2021 to 2030 is the forecast period and 2020 is
considered as the base year.
Why should you invest in this report?
If you are aiming to enter the global vertical farming
Market, this report is a comprehensive guide that provides crystal clear
insights into this niche market. All the major application areas for vertical
farming are covered in this report and information is given on the important
regions of the world where this market is likely to boom during the forecast
period of 2021-2030, so that you can plan your strategies to enter this market
accordingly.
Besides, through this report, you can have a complete grasp
of the level of competition you will be facing in this hugely competitive
market and if you are an established player in this market already, this report
will help you gauge the strategies that your competitors have adopted to stay
as market leaders in this market. For new entrants to this market, the
voluminous data provided in this report is invaluable.
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Vital factors accountable for market growth are:
- Rising population levels across the globe
- Stabilized crop production irrespective of climatic changes
- Insufficiency farming land worldwide
- Conservation as well as reutilization of natural resources
Report Highlights
- The level of competition is high because of the involvement of a limited number of players in the vertical farming industry. The market is also rising at a remarkable rate, which intensifies the rivalry among the players in the market.
- Asia-Pacific, North America and Europe are highly inclined to implement urban farming strategies, with main competitors concentrating primarily on expanding their product offerings in the vertical farming industry in these areas.
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Regional Snapshots
With the progressive solutions and implementation, the vertical farming industry in Europe has the highest demand, accounting for over one-third of the world's total share. This is due to the presence in the area of vast R&D centers and venture capitalists. For aeroponics, hydroponics and aquaponics, Asia Pacific posted the highest Y-o-Y growth in recent years and could surpass other continents in the near future. Due to the increasing land scarcity in the region, Singapore, South Korea and Japan are constantly investing in these technologies. In the coming years, Australia, ASEAN countries, India and China will see a major upheaval in vertical farming. Further the North American countries are focusing on the conservation of the natural resources specially United States and Canada which has become the fuelling factor for the growth of the vertical farming industry in North America.
Key Market Players and Strategies
- Hydroponic Components
- Lighting
- Climate Control
- Sensor
By Fruits, Vegetables & Herbs
- Bell & Chili peppers
- Strawberry
- Tomato
- Lettuce
- Cucumber
- Herbs
- Leafy Greens (excluding lettuce)
- Others
By Structure
- Shipping Container
- Building-based
Regional Analysis:
The geographical analysis of the global vertical farming
Market has been done for North America, Europe, Asia-Pacific, and the Rest
of the World.
The North American market is again segmented into the US,
Canada, and Mexico. Coming to the European market, it can be segmented further
into the UK, Germany, France, Italy, Spain, and the rest. Coming to the
Asia-Pacific, the global vertical farming Market is segmented into China,
India, Japan, and Rest of Asia Pacific. Among others, the market is segmented
into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of
the Middle East & Africa).
Key Questions Answered by the Report:
- What
will be the size of the global vertical farming Market in 2030?
- What
is the expected CAGR for the vertical farming Market between 2021 and
2030?
- Which
are the top players active in this global market?
- What
are the key drivers of this global market?
- How
will the market situation change in the coming years?
- Which
region held the highest market share in this global market?
- What
are the common business tactics adopted by players?
- What
is the growth outlook of the global vertical farming Market?
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