Global Vertical Farming Market Size to Reach USD 20.16 Billion in 2030 | Increase in Global Demand for Food and Higher Yield than Conventional Farming are Key Factors Driving Industry Demand, Says Emergen Research
Increase in global demand for food is a significant factor expected to increase demand for vertical farming. According to the 2021 Global Hunger Index (GHI) scores, which uses data from 2016–2020, the hunger rate is highly alarming in Somalia, alarming in 9 countries, and serious in 37 countries. Africa, South of the Sahara, and South Asia are the regions that have the highest hunger levels.
Get Free Sample PDF Copy of the Report@ https://www.emergenresearch.com/request-sample/238
Moreover, vertical farming has a higher yield than conventional farming, which contributes to growth of global vertical farming market. The use of micro-climate technology within the container or greenhouse allows plants to receive the optimal heat, humidity, light, and other conditions as per the crop's requirement. Furthermore, in a vertical farm, plants are stacked high in trays or towers, allowing a farm to produce more food in a confined space. Stacking plants vertically enables a farmer to grow various plants in space.
Restraints:
High cost set up of vertical farming systems is a significant factor hampering growth of the market. Moreover, lack of awareness about alternative farming practices in underdeveloped countries is further expected to restrain growth of the market significantly.
Growth Projections:
The global vertical farming market is expected to register a CAGR of 23.5% over the forecast period and revenue is expected to increase from USD 3.09 Billion in 2021 to USD 20.16 Billion in 2030. Increase in global demand for food and higher yield than conventional farming are factors driving the market growth.
COVID-19 Impact Analysis:
The COVID-19 pandemic led to the downsizing of various businesses, thereby limiting growth of the vertical farming market. However, vertical farming practices are not labor-intensive. Advancements in sensing technology and automation allowed agricultural productivity in vertical farming to remain largely unaffected despite complete lockdown. The market is expected to recuperate and continue growing at a steady rate once the impact of the pandemic is under control and international trade is back to normal.
Discount Available on Vertical Farming market report [Click Here]@ https://www.emergenresearch.com/request-discount/238
Current Trends and Innovations:
Increasing global desertification is another factor driving the growing demand for vertical agriculture. Desertification is a form of land degradation in which fertile land becomes desert-like. Rapid climate change is a major cause of desertification. Increased desertification has negatively impacted agricultural production by reducing food production and depleting irrigation water resources. This is expected to boost industry revenue growth significantly.
Geographical Outlook:
Asia Pacific is expected to register a steady growth rate during the forecast period. Increasing presence of new businesses focused on developing new equipment and technological solutions to modernize vertical farming practices is expected to drive revenue growth of the market. Moreover, increasing demand for unmanned horticulture, which uses intelligent technologies for growing crops due to lack of horticultural laborers, has further led to an increase in demand for vertical farming. Furthermore, increasing food insecurity and increasing adoption of vertical farming and aquaponics by cultivators and farmers are expected to drive Asia Pacific market revenue growth.
Strategic Initiatives:
Some major companies included in the market report are AeroFarms, LLC, Agricool SAS, Sky Greens, Emirates Vertical Farming Farms, Freight Farms, Inc., Green Sense Farms Holdings, Inc., Heliospectra AB, LumiGrow, Inc., Signify Holding B.V., and Hydrofarm LLC.
Explore Complete Report Description and Table of Contents of Vertical Farming Market Report@https://www.emergenresearch.com/industry-report/vertical-farming-market
Emergen Research has segmented global vertical farming market on the basis of system, type, structure, equipment, and region:
Get Customized Report as Per Your Specific Requirement@ https://www.emergenresearch.com/request-for-customization/238
Latest Blog Articles Published by Emergen Research:
Top 10 Companies in the World Shaping the Future of Healthcare with Innovative Blockchain Solutions
Non-Fungible Token (NFT) Market Trends and Demands Set to Shake the World in 2022 and Beyond World's Top 10 Companies Striding towards an All-electric Future of Mobility with Fast EV Charging Solutions
Top 10 Electric Vehicles Companies Focused on Transforming The Automotive Industry
World's Top 9 Companies Offering Latest Brachytherapy Devices
Top 9 Companies in the World Offering Best Digital Water Solutions to Cater to Growing Need for Clean Water
Top 5 Lithium Mining Countries Leading the Global Renewable Energy Transition
Top 10 Companies That Are Globally Leading Manufacturers of Cannabis Products
Top 10 Wind Energy Companies Offering Ground-breaking Wind Energy Solutions
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend's existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: [email protected]
Visit for More Insights: https://www.emergenresearch.com/insights
Explore Our Custom Intelligence services | Growth Consulting Services
Read our Press Release on Vertical Farming @ https://www.emergenresearch.com/press-release/global-vertical-farming-market
Read Our Blog@ https://www.emergenresearch.com/blog/worlds-top-8-companies-leading-in-vertical-farming
Logo: https://mma.prnewswire.com/media/1579538/Emergen_Research_Logo.jpg
