Data Bridge Market Research analyses that the vertical farming market, valued at USD 1293.68 million in 2022, will reach USD 6225.19 million by 2030, growing at a CAGR of 21.7 % during the forecast period of 2023 to 2030.
Middle East and Africa Vertical Farming Market research report delivers widespread analysis of the market structure along with the estimations of the various segments and sub-segments of the market. This industry report also contains detailed profiles of market’s major manufacturers and importers who are dominating the market. Furthermore, the statistical and numerical data such as facts and figures are represented very precisely in the market report by using charts, tables, or graphs. The transformation in market landscape is mainly observed due to the moves of key players or brands which include developments, product launches, joint ventures, mergers, and acquisitions that in turn change the view of the global face of the industry.
Business intelligence is an essential aspect when it comes to accomplish thorough and wide-ranging market insights and the same is applied for building Middle East and Africa Vertical Farming Market research report. Commitment, quality, dedication, and transparency in the market research report are all followed throughout to give the best service to the clients. Not to mention, this report delivers an in-depth study with respect to present and upcoming opportunities which shed light on the future investment in the market. So, to achieve competitive advantage and to thrive in the market, go for the comprehensive Middle East and Africa Vertical Farming Market report.
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Market Definition
Vertical farming processes food in vertical layers, such as in a skyscraper, abandoned factory, or shipping container. For contemporary vertical farming concepts, where all environmental conditions can be controlled, indoor farming techniques and controlled-environment agriculture (CEA) technologies are used. These services use artificially controlled lighting, environmental control (humidity, temperature, gases, and others), and fertigation. Few vertical farms employ techniques like those used in greenhouses, which can maximize natural sunlight through metal reflectors and artificial lighting.
Some of the major players operating in the vertical farming market are:
The vertical farming market is segmented on the basis of by growth mechanism, structure, type, crop type, application and component. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Growth Mechanism
Structure
Type
Crop Type
Application
Component
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Drivers
A rise in trade activities such as grain and oilseed export, rising levels of food consumption in the Middle East and Africa along with a growing population, and the introduction of updated and advanced technology are some of the significant and impactful factors that will probably boost the growth of the vertical farming market.
The advantage of vertical farming is that it does not rely on the weather, so it can produce all year long without worrying about how bad weather will affect the yield’s quality and profile. A protected, well-managed environment for farming ensures high-quality output and offers repeatable, programmable production to ensure that the flavor of the produce is always 100% consistent. This promotes growth by enabling it to commit to delivering on scheduled and off-take agreements as requested by customers.
Opportunities
As people become more concerned with their health, the demand for organic food products increases. Farmers across the nation are switching to organic farming, which is improving the market outlook. The market for vertical farming is growing in response to rising consumer preferences for organic and specialty foods and increasing demand for genetically modified seeds. More contracts between companies and farmers are also being made for the production and supply of agricultural goods, which affects the market. Organic products are also thought to be safer than conventional ones because they are grown without the use of chemical pesticides and are better for the environment. The main factor influencing this trend is the rising demand for organic food and food free of pesticides and genetically modified organisms.
Cannabis is becoming increasingly more in demand. Vertical cannabis farms and distributors have experienced significant flowering, which aids in meeting demand. Cannabis can be expensive to grow on vertical farms, according to the current production scenario. Considerations for cannabis grown in a sunless environment are very important, but increased production of cannabis on the vertical farm can create demand and simultaneously a chance to grow
Restraints/Challenges
Lack of technical knowledge, shortage of skilled labour, and a rising demand for significant capital investments are likely limiting factors for the market for vertical farming. The marketing and distribution of new products and increasing work pressure can be the biggest barriers to market expansion.
The high initial costs are the main barrier to the adoption of vertical farming. The higher land prices per square meter in urban areas and the facilities needed to manage plant development are the causes of high capital costs. Without the use of insects, vertical cultivation takes place in a climate-controlled environment. As a result, pollination must be carried out manually, which could be time-consuming and costly. Even though energy costs in vertical farming are high, labour costs could be much higher because of their concentration in urban areas with higher incomes and the need for more skilled workers. Automation at vertical farms, however, might make more workers unnecessary. Manual pollination can become complex in vertical farms.
This vertical farming market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the vertical farming market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
Middle East and Africa Vertical Farming Market Regional Analysis/Insights
The Middle East and Africa Vertical Farming market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.
The countries covered in the Middle East and Africa Vertical Farming market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The report answers questions such as:
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