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Increase in global demand for food and rapid increase in urbanization are some key factors driving market revenue growth
VANCOUER, BC, CANADA, September 19, 2022 /EINPresswire.com/ -- Global vertical farming market size reached USD 3.09 Billion in 2021 and is expected to register a revenue CAGR of 23.5% during the forecast period, according to latest analysis by Emergen Research. Increase in global demand for food and rapid urbanization are expected to support market revenue growth during 2022-2030.
In addition, the rapid climate change caused by global warming has adversely affected the weather patterns, causing irregular rainfall, drought, desertification, thereby reducing agricultural productivity. Increasing population is expected to lead to a rise in global demand for food, which is further expected to increase demand for alternative agriculture practices such as vertical farming to ensure food security. This is expected to further accelerate revenue growth of the market during the forecast period.
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Rapid increase in urbanization has led to increasing adoption of urban farming technology that involves large-scale agricultural production in the urban surroundings within confined spaces. According to the World Bank, over 50% of the world population lives in urban areas, which is expected to increase by 1.5 times by 2045. The world's urban population is expected to increase demand for vertical farming considerably. Vertical farming techniques enable faster growth and production of the crops by maintaining suitable environmental conditions and nutrient content. Moreover, vertical farms can grow crops throughout the year as it allows the user to customize the growing needs regardless of weather and are far less vulnerable to climate change.
List of Top 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 B.V., 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 and Africa) sales value, production value, consumption value, import and export of Vertical Farming Market ?
Who are the global key manufacturers of the Vertical Farming Market ? How is their operating 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 ?
Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?
For statistical analysis study on Vertical Farming Market research report, Download Report Summary
The report is updated with the latest economic scenario and market scope with regard to the ongoing COVID-19 pandemic. The report covers growth prospects as well as current and futuristic revenue estimations in a post COVID scenario. The report also covers changing trends and market dynamics due to the pandemic and provides an accurate impact analysis of the crisis on the overall market.
Some Key Highlights in the Report :
Building-based segment revenue is expected to expand at a substantially rapid CAGR during the forecast period owing to increasing urbanization and minimal availability of land in urban areas for agricultural practices.
Control systems segment accounted for largest revenue share over the forecast period owing to increasing demand for intelligent control systems embedded in buildings and containers for controlling and optimizing the internal environment conditions to prolong productivity.
North America is expected to register a steady revenue growth rate in vertical farming market over the forecast period owing to the robust presence of international and domestic enterprises providing vertical farming products such as AeroFarms, LLC, Freight Farms, Inc., Green Sense Farms Holdings, Inc., LumiGrow, Inc., and Hydrofarm LLC. among others in countries in the region.
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Emergen Research has segmented global vertical farming market on the basis of system, type, structure, equipment, and region:
System Outlook (Revenue, USD Billion, 2019–2030) Hydroponics Aeroponics Aquaponics
Type Outlook (Revenue, USD Billion, 2019–2030) Aggregate Systems Open System Closed System Liquid Systems
Structure Outlook (Revenue, USD Billion, 2019–2030) Building-based Shipping Container-based
Equipment Outlook (Revenue, USD Billion, 2019–2030) Heating Ventilation and Air Conditioning (HVAC) Light-emitting Diode (LED) Grow Lights Irrigation Systems Material Handling Equipment Control Systems
Browse Detailed Summary of Research Report with TOC @ https://www.emergenresearch.com/industry-report/vertical-farming-market
Key regions covered in the report: North America Europe Asia Pacific Latin America Middle East & Africa
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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 trends 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.
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