According to SPER Market Research, Global Vertical farming is the practice of constructing farms vertically. More production may now be done on tiny pieces of land as a result. It is a non-traditional method of crop cultivation that offers easy harvesting, minimum climatic effects, good yield, little need for pesticides, small area needs, and little water usage.
The primary factors influencing the expansion of the vertical farming business are the rise in popularity of organic food, the optimal utilization of vertical space and balanced energy consumption, the convenience of crop monitoring and harvesting, and the reduction in arable land. However, the market’s growth is constrained by high start-up costs and the adoption of cutting-edge technologies.
Global Vertical Farming Market Overview (2022-2030)
Forecast CAGR (2022-2030): 24.8%.
Forecast Market Size (2030-): 22.77 billion.
The primary factors influencing the expansion of the vertical farming business are the rise in popularity of organic food, the optimal utilization of vertical space and balanced energy consumption, the convenience of crop monitoring and harvesting, and the reduction in arable land. However, the market’s growth is constrained by high start-up costs and the adoption of cutting-edge technologies. However, industry participants in vertical farming should expect to greatly benefit from the growing urban population and the quick adoption of technology-driven agriculture.
Impact of COVID-19 on the Global Vertical Farming Market:
The worldwide semiconductor and electronics industries have suffered greatly as a result of the COVID-19 outbreak. Production facilities have been put on hold as a result of the global downturn and lack of labor, which has also led to labor shortage in the vertical farming industry. Travel restrictions and facility closures along with the COVID-19 outbreak have all contributed to a significant and protracted decline in manufacturing utilization, which has slowed the growth of the vertical farming market in 2020. Among these are the electronics required in a vertical agriculture facility, such as lighting and sensors.
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Global Vertical Farming Market Key Segments Covered:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2030. This report contains statistics on product type segment growth estimates and forecasts.
- Irrigation Component.
- Climate Control.
- Building Material.
- Building-based Vertical Farms.
- Container-based Vertical Farms.
- North America
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Global Vertical Farming Market Key Players:
The Global Vertical Farming Market study provides market data by the competitive landscape, revenue analysis, market segments, and detailed analysis of key market players such as; Aero Farms, Arylation GmbH, Altius Farms, American Hydroponics, Bright farms Inc., Ever light Electronics Co., Ltd., Freight Farms, Future Crops, Green Sense Farms, LLC, Grownup Urban Farms Ltd., Illumine, Inc., Vertical Farm Systems.
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Anthony tone Business Consultant – U.S.A.