Vertical Farming Market is Set to Fly High in Years to Come | Koninklijke Philips N.V., Sky Greens Pte. Ltd, AeroFarms LLC, Everlight Electronics Co. Ltd

The Vertical Farming Market revenue has been estimated at USD 8.92 Billion in 2022 and is projected to grow at a CAGR of 23.98% during the forecast period. Growing an adequate amount of healthy food in traditional farming is a big challenge. Protecting crops from bad weather, rapid urbanization, and industrialization, and lack of cultivable farming land are big problems for traditional farming. The Vertical Farming Market research analyses every profile of the number of major suppliers briefly. It also provides an in-depth analysis of supply-demand data in the end-use industry. It also analyses positive and negative impacts related to the target customer demand. Detailed analyses of total market dynamics have been tackled in order to give you an overall competitive advantage.

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Vertical farming is a non-traditional way of growing crops, which neglects the effects of climate, produce high yield, use minimum pesticides, consumes less amount of water, and requires less area for farming. The demand for vertical farming is expected to grow in the future due to factors such as a rise in the popularity of organic food, a decrease in arable food, an increase in urban population. However, vertical farming requires a high initial investment and advanced technologies.

Competitive Analysis:

The companies are primarily focusing on strategies such as new product launches to penetrate the fastest-growing emerging markets across the world: Koninklijke Philips N.V., Sky Greens Pte. Ltd, AeroFarms LLC, Everlight Electronics Co. Ltd, Illumitex Inc, Hort Americas, Agrilution GmbH, Urban Crop Solutions Inc., American Hydroponics Systems Inc., and Vertical Farm Systems.

Segmentation:

The Vertical Farming Market report offers critical data based on systematic market segmentation. This study divides the market into multiple segments, including type, technology, application and geographic regions. In addition, the report includes other details, such as product use, production capacity, production information, and supply and demand market analysis. This study covers this segment's retail sales, share and market revenue for the periods 2023-2032. The Vertical Farming Market is segmented By Crop Type (Spinach, Cucumbers, Tomatoes, Strawberries, Pomegranates, Lettuce, Peppers, Broccoli, and Others), By Mechanism Type (Aeroponics, Aquaponics, and Hydroponics), By Structure Type (Building-based and Shipping Container), By Offering Type (Hardware, Software, and Services)

Growth Factors:

• Rising demand for high-quality food without herbicides and pesticides

• Independent farming techniques with less impact of climate conditions

• Limited space for growing vegetables and fruits

• Increasing demand for organic food.

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Recent Developments:

• In August 2021, AeroFarms partnered with Nokia Bell Labs to combine their expertise and expand their joint capabilities in networking, autonomous systems, and integrated machine vision and machine learning technologies to identify and track plant interactions at the most advanced levels.

• In August 2021, AeroFarms announced that it would expand to the Middle West region as part of a project with the World Wildlife Fund (WWF) and St. Louis Controlled Environment Agriculture Coalition (STLCE) to demonstrate innovative strategies to minimize the environmental footprint of indoor vertical farming.

• In July 2021, Heliospectra AB, & world leader in intelligent lighting technology for vertical farming, announced a new seller partnership with MineARC Systems, a global leader in manufacturing and supplying controlled environments. The company will represent Heliospectra's market-leading LED lighting and lighting control solutions in the Australian market.

• In June 2021, Osram expanded its horticulture portfolio with the launch of Osconiq S 5050. It addresses a key problem of used white LEDs resulting in lower energy costs and more efficient lighting for indoor farmers.

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Regional Analysis of Global Vertical Farming Market:
Each of the regional market segments is analysed and studied in the sense of the major regional spectrum of market reach in the market report. The study also provides a comprehensive overview of key insights, such as import, export, development, demand and consumption. Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia), Europe (Germany, France, United Kingdom, Russia and Italy), North America (United States, Canada, and Mexico), South America (Brazil, Argentina) and the Middle East and Africa (UAE, Egypt, Saudi Arabia, and South Africa) are some of the regions included by this research study.

North America: U.S., Canada, Rest of North America

Europe: France, UK, Spain, Germany, Italy, Rest of Europe

Asia Pacific: China, Japan, India, South Korea, Rest of Asia Pacific

The Middle East & Africa: Saudi Arabia, South Africa, Rest of the Middle East & Africa

Latin America: Brazil, Argentina, Rest of Latin America

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What can you anticipate from the report on the Global Vertical Farming Market?

• Future forecasts for Vertical Farming made during the forecast period.

• Up-to-date information about Lightweight Materials industry innovations, trends, devices, methods, and goods.

• A thorough examination of market segmentation based on kinds, devices, and goods.

• Government laws and economic variables influencing Vertical Farming expansion.

• A look at the most well-known manufacturers.

• The market's demographics by region.

Conclusion:
The study is a compilation of Vertical Farming-hand data, qualitative and quantitative data by industry analysts, and inputs from market experts and key participants over the value chain process. The study offers an in-depth analysis of the present market trends, micro and macro-economic pointers, and governing factors, along with industry attractiveness according to the segments. The report also maps the qualitative impact of various market factors on market segmentations and geographies.

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This release was published on openPR.