Global Vertical Farming Market in Asia Pacific to see 30% CAGR to 2024

1
Vertical Farming Market to cross USD 13 billion
by 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
2
Key Insights from Vertical Farming Market

• Asia Pacific shows the highest growth rate of
  about 30 in vertical farming market from 2018 to
  2024. The product market has been popular in
  southeast Asia for the regional difficulties such
  as land scarcity and high food imports. According
  to a report by the United Nations, Department of
  Economic and Social Affairs, the number of cities
  with 500,000 inhabitants or more is expected to
  grow by 30 in Asia by 2030. Rising urbanization
  and the population feeding requirements in
  countries like India, South Korea, Taiwan and
  others will propel the Asia-Pacific vertical
  farming market over the forecast period.
• According to United States Department of
  Agriculture, in 2007 farmland in the U.S. reduces
  from 922 million acres to 915 million acres in
  2012. Increasing climatic changes and suboptimal
  nature of geological and meteorological events
  such as floods, draughts, hailstorms, tornadoes
  effect crop yields. This will result in adoption
  of innovative method of farming such as vertical
  farming where optimum utilization of faming space
  and negligible effect of climatic conditions on
  crop yields are observed.

3
Continued...

• Growing need of food security owing to reduction
  in arable land across the world will boost the
  entire industry demand by 2024. Food security
  relies on availability, access, stability
  utilization and this can be achieved through
  vertical farming technique. In near future around
  90 of crop production is anticipated to come
  from higher yields and rest of the share will
  come from farmland expansion. With the
  technological advancements, vertical farming can
  be done in retail centers in coming years which
  will further reduces the transportation cost
  time and also minimalize the chances of spoilage.
  The aforementioned trends will act as drives and
  augment the vertical farming market growth by
  2024.
• Based on product, the vertical farming market is
  segmented into aquatic species, equipment,
  fruits, vegetables herbs. Equipment segment
  includes atmosphere controllers, led grow lights,
  irrigation systems pipes. This segment will
  show a 33 CAGR from 2018 to 2024 as these will
  help to monitor the farm atmosphere, help crop
  growth and control the amount of nutrients in
  solutions.

4
Continued...

• Based on technology, the vertical farming market
  is categorized into hydroponics, aeroponic and
  aquaponics. Hydroponics segment will show a CAGR
  of around 26 over the forecast timeframe.
  Aquaponics is also a popular segment as it
  involves rearing of fishes and using the waste
  water from the fish tanks to irrigate the crops
  for harvesting. Adoption of this technology is
  limited in industry due to higher maintenance and
  operational costs of vertical farms using this
  technology. However, higher profit margins
  associated with this technology will increase its
  demand during the forecast years.
• On application basis there are two types of
  vertical farming market, namely indoor and
  outdoor vertical farms. Indoor farms show the
  growth rate of 28 over the forecast time spell.
  Indoor farming is extensively practiced
  controlled environment agriculture (CEA),
  warehouses and parking. This method plays an
  important role in satisfying the rising food
  demand due to increasing population and scarce
  land under cultivation. Indoor vertical farming
  helps consume lesser water and gives out more
  harvest than the traditional farming practiced
  otherwise. Irrespective of sudden climatic
  changes, indoor farming helps produce feed in
  higher quantity without crop damage.

5
Continued...

• The key players in the vertical farming market
  are American Hydroponics, Sky Greens, General
  Hydroponics, Green Spirits Farms, Plantagon
  International, Urban Crop Solutions, Mirai,
  Spread, etc. Most of the vertical farming
  companies are doing contracts with such as
  Illumitex, Inc., Everlight Electronics.,
  Koninklijke Philips for the lightning systems.

6
North America Vertical Farming Market Size, By
Application, 2013 2024 (USD Million)

7

Browse Full Market Research Report On Vertical
Farming Market _at_ https//bit.ly/2ryeWIO
Request for a Sample of this Research Report _at_
https//bit.ly/2qzBPxJ
8
Industry Coverage

9
Table OF Content
Chapter 1. Methodology and Scope 1.1.
Methodology 1.2. Market definition 1.3.
Market estimation forecast parameters 1.4.
Data sources 1.1.1. Primary 1.1.2.
Secondary 1.1.2.1. Paid sources 1.1.2.2.
Public sources Chapter 2. Executive
Summary 2.1. Vertical farming market 3600
synopsis, 2013 - 2024 2.1.1. Business
trends 2.1.2. Product trends
10
Stay In Touch Website www.gminsights.com Soci
al Media