Rising global demand for food and rapid rise in urbanization are key factors driving the market revenue growth
— Emerging research
VANCOUER, BC, CANADA, September 19, 2022 /EINPresswire.com/ — Global vertical farmer market The size reached USD 3.09 billion in 2021 and is expected to register a CAGR of 23.5% during the forecast period, according to the latest analysis from Emergen Research. Rising global demand for food and rapid urbanization are expected to support market revenue growth over the period 2022-2030.
In addition, the rapid climate change caused by global warming has adversely affected weather patterns, causing erratic rainfall, drought, desertification, thereby reducing agricultural productivity. The increase in population is expected to lead to an increase in the global demand for food, which is further expected to increase the demand for alternative farming practices such as vertical farming to ensure food security. This is expected to further accelerate the revenue growth of the market over the forecast period.
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The rapid increase in urbanization has led to the growing adoption of urban agricultural technology which involves large-scale agricultural production in urban environs in confined spaces. According to the World Bank, more than 50% of the world’s population lives in urban areas, which is expected to increase 1.5 times by 2045. The global urban population is expected to significantly increase the demand for vertical farming. Vertical farming techniques allow for faster crop growth and production by maintaining proper environmental conditions and nutrient content. Additionally, vertical farms can grow crops throughout the year as they allow the user to customize growing needs regardless of weather conditions and are much less vulnerable to climate change.
List of major key companies profiled in the Vertical Farming Market AeroFarms, LLC, Agricool SAS, Sky Greens, Emirates Vertical Farming Farms, Freight Farms, Inc., Green Sense Farms Holdings, Inc., Heliospectra AB, LumiGrow, Inc. , Signify Holding BV and Hydrofarm LLC.
Some of the key questions answered in this report:
What is the global (North America, Europe, Asia-Pacific, South America, Middle East & Africa) sales value, production value, consumption value, market import and export? Vertical farming?
Who are the global key manufacturers of Vertical Agriculture market? What is their operational situation (capacity, production, sales, price, cost, gross and revenue)?
What are the Vertical Farming market opportunities and threats faced by the vendors in the global Vertical Farming market?
What application/end user or product type may seek additional growth prospects? What is the market share of each type and application?
For Statistical Analysis Study on Vertical Farming Market Research Report, Download the report summary
The report is updated with the latest economic scenario and market scope with respect to the ongoing COVID-19 pandemic. The report covers growth prospects along with current and future revenue estimates in a post-COVID scenario. The report also covers changing market trends and dynamics due to the pandemic and provides an accurate analysis of the impact of the crisis on the overall market.
Some key highlights in the report:
Buildings based segment revenue is expected to grow at a significantly rapid CAGR during the forecast period due to increasing urbanization and minimal availability of land in urban areas for agricultural practices.
The control systems segment accounted for the largest share of revenue during the forecast period owing to the growing demand for intelligent control systems integrated in buildings and containers to control and optimize internal environment conditions to prolong productivity.
North America is expected to witness a steady growth rate of revenue in the vertical farming market over the forecast period owing to the strong presence of international and domestic companies providing vertical farming products such as AeroFarms, LLC, Freight Farms, Inc., Green Sense Farms Holdings, Inc., LumiGrow, Inc. and Hydrofarm LLC. among others in the countries of the region.
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Emergen Research has segmented the global vertical farming market on the basis of system, type, structure, equipment, and region:
System Outlook (Revenue, USD Billion, 2019-2030)
Type Outlook (Revenue, billion USD, 2019-2030)
Structure Outlook (Revenue, billion USD, 2019-2030)
Based on the building
Based on shipping containers
Equipment Outlook (Revenue, USD Billion, 2019-2030)
Heating Ventilation and Air Conditioning (HVAC)
Light Emitting Diode (LED)
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Key Regions Covered in the Report:
Middle East and Africa
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