Vertical Farming Market

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MarketsandMarkets Research Private Ltd.
Presents
Vertical Farming Market worth 5.80 Billion USD by
2022 with a growing CAGR of 24.8
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ertical-farming-market-221795343.html
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According to the new market research report
"Vertical Farming Market by Growth Mechanism
(Hydroponics, Aeroponics, and Aquaponics),
Structure (Building Based and Shipping
Container), Offering (Hardware, Software, and
Service), Crop Type, and Geography - Global
Forecast to 2022", the vertical farming market is
estimated to be valued at USD 5.80 Billion by
2022, growing at a CAGR of 24.8 between 2016 and
2022. The factors driving the growth of the
market include high quality food with no use of
pesticides, less dependency on the weather for
production, growing urban population, increase in
the year around production of the crops, and
reduced impact on the environment. Browse gtgt
80 Market data tables
76 figures 173
pages and in-depth TOC on Vertical Farming
Market https//www.marketsandmarkets.com/Ma
rket-Reports/vertical-farming-market-221795343.htm
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ressReleases/vertical-farming.asp
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Lighting devices are expected to lead the
market Lighting as a hardware device, in terms
of value, expected to grow at the highest rate
between 2016 and 2022. The factor for its growth
is that traditional lighting system would be
replaced by LED lighting system. LED lighting
produces dual band color spectrum at the same
time, which is highly efficient and generates low
heat. Hence, farmers or growers are shifting to
LED lighting systems. Hydroponics growth
mechanism is expected to grow at the highest rate
in the vertical farming market between 2016 and
2022 The vertical farming market for hydroponics
growth mechanism is expected to grow at the
highest CAGR between 2016 and 2022. This growth
is attributed to the fact that hydroponics are a
less complex method to implement. Moreover,
growing crops indoor by using hydroponics
eliminates the use of equipment used in
traditional farming, thus reducing the burning of
fossil fuels thereby reducing the emission of
gases, which are harmful to the environment.
Hence, there would be a significant reduction in
air pollution and CO2 emission that cause
climatic changes. Considering all these factors,
many farmers or growers are adopting the vertical
farming technology.
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ertical-farming-market-221795343.html
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Asia-Pacific (APAC) is estimated to hold the
largest share of the market by 2022 The market
in Asia-Pacific (APAC) is expected to have the
largest share by 2022 owing to the increase in
population and limited fertile agriculture land.
China has a tremendous potential in this market,
China is investing a significant amount of effort
for developing vertical farming systems to feed
its urban population.  Japan is one of the key
countries in which over 150 plant factories are
equipped with artificial lights in operational
form. Major players involved in the development
of the market are Aerofarms (U.S.), Koninklijke
Philips N.V. (The Netherlands), Illumitex, Inc.
(U.S.), and Sky Greens (Singapore) among others.
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ertical-farming.asp
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