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Asia Pacific Vertical Farming Market By Growth Mechanism (Hydroponics, Aeroponics And Aquaponics), By Structure (Building Based And Shipping Container), By Offering (Hardware, Software, And Service), By Crop Type And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecast 2022 to 2027.

Published: January, 2022
ID: 2697
Pages: 145
Formats: report pdf report excel report power bi report ppt

Asia Pacific Vertical Farming Market Size & Growth 2026:

Asia Pacific Vertical Farming Market was valued at USD 0.78 billion in 2021 and is estimated to be growing at a CAGR of 29%, to reach USD 2.77 billion by 2026.

Vertical Farming techniques control factors such as environmental influences like temperature, humidity, gases, etc., amount of light, and fertigation factors which include the use of fertilizers and other soil products. In some Vertical Farms, natural light is used in combination with artificial lighting and metal reflectors, analogous to greenhouses. Vertical Farming is the latest advance in farming, in which all environmental factors can be precisely controlled. Generally, foods and medicines are produced in upright stacked layers, vertically inclined surfaces, and/or in assimilated structures like warehouses, shipping containers, skyscrapers, etc. in the Vertical Farming process

Asia Pacific Vertical Farming Market Drivers:

The efficacy of artificial lighting to enhance the yield, health and growth rate of plants coupled with lower dependency on the weather for production is driving the market from the producer side. The above factors accompanied by the growth in use of technology such as the Internet of Things in Vertical Farming, rapidly expanding populace, and increase in the annual production of crops are predicted to exponentially boost the market growth. Increasing consumer demand for organic foods, foods free from pesticides, and genetically modified organisms (GMOs) is the major driving force of the market. High costs of lighting equipment and continuous maintenance requirement are the constraints faced by the Vertical Farming market.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021– 2026

Base Year

2020

Forecast Period

2021- 2026

CAGR

29%

Segments Covered

By Growth Mechanism,  By Structure,  By Offering

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

  • China
  • India
  • Japan
  • South Korea
  • Australia

Market Leaders Profiled

Illumitex Inc. (U.S.), Aerofarms (U.S.), Koninklijke Philips N.V. (The Netherlands), and Sky Greens (Singapore) among others.

Market Segmentation:

Asia Pacific Vertical Farming Market - By Growth Mechanism:

  • Hydroponics
  • Aeroponics
  • Aquaponics

Asia Pacific Vertical Farming Market - By Structure:

  • Buildings
  • Shipping Containers

Asia Pacific Vertical Farming Market - By Offering:

  • Hardware
  • Software
  • Service

Geographical Analysis:

  • China
  • India
  • Japan
  • South Korea
  • Australia

Asia Pacific is one of the most lucrative markets for the growth of the Vertical Farming market and is projected to grow with the highest CAGR of 29% during the forecast period. Factors such as growing demand for pesticide-free foods, limited land availability for feeding the swelling populace and the emerging economies in countries such as India and China are predicted to lead the growth of the market in this region.

Key Players:

Key players involved in the development of the Asia Pacific vertical farming market are Illumitex Inc. (U.S.), Aerofarms (U.S.), Koninklijke Philips N.V. (The Netherlands), and Sky Greens (Singapore) among others

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