Agricoltura
Vertical Farming Market worth $7.3 billion by 2025 - Exclusive Report by MarketsandMarkets™
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Factors such as positive impacts of adopting vertical farming on the environment, potential market opportunities in APAC and the Middle East , and cannabis cultivation through vertical farming are expected to create growth opportunities for the market.
The hydroponics growth mechanism is used widely by commercial growers. This mechanism is easier to set up, costs less than other mechanisms, and has a higher return on investments (ROI). Comparing the investment required to set up a hydroponics and aeroponics facility of the same size, aeroponic requires a high initial investment. In case of a power outage, in the hydroponic mechanism, the plants can survive for a long time since the growing medium continues to supply water and nutrients, unlike aeroponics, where the plants can die in just a few hours due to malfunctioning or failure of mist spraying nozzles.
Building-based vertical farms generate better per square foot revenue than shipping container-based vertical farms, as building-based vertical farms incur lesser capital as well as operating expenses (for same area). The market for shipping container-based vertical farms is likely to register a higher CAGR as it is a ready-to-use (plug and play model) solution that can help to cater to the rising demand for fresh and high-quality produce. Shipping container-based vertical farms are flexible, easy to operate, and portable.
Vertical Farming Market
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Companies from other regions are investing in APAC countries to establish vertical farms. For instance, in 2018, Plenty (US), a vertical farming company, announced its plan of building 300 vertical farms across China . Vertical farms in the region are also backed by advanced technologies such as LED technology that assists the crops cultivated with photosynthesis by providing the right intensity of light. Everlight Electronics ( Taiwan ) is a manufacturer of LEDs for vertical farming. Vertical farms have also entered into partnerships with agriculture technology providers to enhance the productivity of their farms. Asahi Techno ( Japan ) uses Illumitex's (US) LED solutions to enhance the growth process of the crops. Such investments and partnerships are expected to catalyze the growth of the vertical farming market in the region.
Signify ( Netherlands ), Osram ( Germany ), Freight Farms (US), AeroFarms (US), Sky Greens ( Singapore ), Spread Co., Ltd. ( Japan ), Plenty (US), Valoya ( Finland ), Everlight Electronics Co., Ltd. ( Taiwan ), and Heliospectra ( Sweden ) are a few major players in the vertical farming market.
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