Asia-Pacific Vertical Farming Market is Projected to Reach at a CAGR of 27.5% by 2030

Data Bridge Market Research analyses that the Asia-Pacific vertical farming market will grow at a CAGR of 27.5% during the forecast period of 2023 to 2030.

Market Definition
Vertical farming is the method of processing food used factory, or shipping container done in vertically stacked layers. Indoor farming methods and controlled-environment agriculture (CEA) technologies are used for modern vertical farming concepts, where all environmental conditions can be controlled. Artificial regulation of illumination, environmental control (humidity, temperature, gases and among others) and fertigation are utilised for these services. Few vertical farms use methods similar to greenhouses, where artificial lighting and metal reflectors can be used to maximise natural sunlight.

Global Asia-Pacific Vertical Farming marketing report provides the broader perspective of the market place with its comprehensive market insights and analysis which eases surviving and succeeding in the market. The report endows with the complete knowledge and information of rapidly changing market landscape, what is already there in the market, future trends or market expectations, the competitive environment, and competitor strategies that aids in planning the own strategies with which business can outshine the competitors. The widespread Asia-Pacific Vertical Farming business report contains top to bottom analysis and estimation of various market related factors that plays key role in better decision making.

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Some of the major players operating in the Asia-Pacific vertical farming market are Signify Holding, CubicFarm Systems Corp., InFarm, Gills N Claws Pte Ltd, Sky Greens, SPREAD Co., Ltd., Triton Foodworks, SANANBIO, EVERLIGHT, OSRAM GmbH, Valoya, Heliospectra AB, Jain Irrigation Systems Ltd, Glenorie Hydroponics, Sino Opto Technology Co., Ltd among others.

ASIA-PACIFIC VERTICAL FARMING MARKET DYNAMICS
This section deals with understanding the market drivers, opportunities, restraints, and challenges. All of this is discussed in detail as below:
Drivers
INCREASING DEMAND FOR ORGANIC FOOD
As crops are grown without the use of chemical pesticides in a well-controlled indoor environment, vertical farming enables us to grow pesticide-free and organic crops. Organic food applies to goods produced through the agriculture sector that do not require industrial fertilizers, chemicals and development regulators. Today, consumers around the world have become more mindful of the origins of food they eat on a regular basis and have moved from crops that are processed with additives and pesticides to organic foods. Moreover, the rising purchasing power of people and changing consumer preference over the organic or pollution free food is augmenting the growth towards health consciousness.

All countries with relatively high organic food intake have high per capita income levels, such as China, which has adopted "green" foods to bring organic foods into the country. Japan, in Asia represents the single largest organic food market. Per capita spending on organic foods is marginally correlated favourably with per capita income levels, but Japan is a significant exception. Broadly speaking, organic goods tend to be premium goods in the sense that their consumption is higher in high per capita income countries. In several middle-income countries, piecemeal knowledge about organic food markets shows that supermarket markets are still in the early stages of growth. Around 50 different organic items are sold in major supermarkets in major countries.

Imported organic foods and beverages as well as domestically produced organic fruit, vegetables, rice, and tea are sold primarily in specialty stores in Taiwan. Organic foods are available on a limited basis in Hong Kong. The market for organic foods is just beginning to be evident only at a single store, stores stocked locally produced organic foods like vegetables, eggs, and cheese. Some middle income countries will likely have larger shares of organic products in the future but current sales appear to be very modest in absolute terms.

Principles of minimization of the chemical inputs in the agriculture and hence is environment friendly. Thus, vertical farming techniques can be utilized for increasing the production and productivity to meet the growing food demands. The increasing demand for the organic food is driving the growth of the Asia-pacific vertical farming market.

GROWING CONCERNS REGARDING POLLUTION FREE ENVIRONMENT
Air pollution is the world's single greatest environmental risk to health. Some 6.5 million people across the world die prematurely every year from exposure to outdoor and indoor air pollution. Pollution is not a modern phenomenon; it can be largely regulated and sometimes avoided, but it is greatly ignored. Land and soil pollution is largely the product of poor agricultural practices, inefficient irrigation, improper solid waste management - including unsafe storage of obsolete stockpiles of hazardous chemicals and nuclear waste - and a range of industrial, military and extractive activities. Better awareness, new forms of consumption and development, as well as creative technical methods, mean that many nations, cities and industries are now effectively solving significant problems with emissions. Indoor vertical farming can significantly lessen the occupational hazards associated with traditional farming. Farmers are not exposed to hazards related to heavy farming equipment, diseases like malaria, poisonous chemicals and so on. As it does not disturb animals and trees inland areas, it is good for biodiversity as well. The workplace risks associated with conventional farming can be greatly minimised by indoor vertical farming. Farmers are not exposed to risks associated with heavy agricultural machines, pathogens such as malaria, hazardous substances, etc. Since inland areas do not disturb animals and vegetation, it is also ideal for biodiversity. In 2019, humans emitted 54 billion tonnes of carbon dioxide equivalent (CO2eq), of which 17 billion tonnes (31%) came from agrifood systems.

Pollution can have negative impacts and disproportionate burdens on women and men, and particularly on the poor and the vulnerable such as the elderly, children and the disabled, affecting their rights to health, water, food, life, housing and development. Many toxic dumpsites are located in poor areas, leading to environmental injustice. Pollution has significant economic costs from the point of view of health, productivity losses, health-care costs and ecosystem damages. Vertical farming can save large amount of water usage and minimize the effect of greenhouse effect.

Hence, the growing concerns regarding pollution free environment is driving the growth of the vertical farming market.

Opportunities
INCREASING UTILIZATION OF IOT SENSORS IN CROP PRODUCTION
Smart farming offers awareness to growers who want to stay clear of problems and intervene before profits are affected by small or big problems through connected devices, the Internet of Things. It comes into play that tells farmers what they need to know about soil, humidity, water levels, and other important metrics. When practicing vertical farming, most of the farmers would like to monitor the farming conditions, and yet limited knowledge on data management have forced them to investigate plant conditions with naked eyes. Therefore, vertical farming monitoring system with Internet of Thing (IoT) is introduced as a platform to collect data and visualize it through a web-based applications. It is a more convenient way to keep track on the vertical farming performance, and contribute to the research and development on agriculture field with real case data analysis. With the help of the system, a reliable environment for farming activities could be formed. Consequently, crops are grown under a controlled surrounding, and get rid of the dangers caused by extreme weather such as droughts and floods.

Even the government is starting to embrace new smart farming opportunities. At its Beltsville Area Research Facility, the United States Department of Agriculture (USDA) recently turned a 7,000-acre farm into a testbed for IoT technology and related advancements, such as Artificial Intelligence (AI). Reportedly, this initiative will help thousands of data scientists gather information faster.

IoT sensors can provide information about crop health in real time and display the existence of pests clearly. For evaluating crops over a wide area, low-resolution image sensors are suitable. These instruments take photos of pests that cannot be observed with the human eye.

The Internet of Things (IoT) is a successful technology that offers efficient and reliable solutions. Solutions to the modernisation of multiple domains. Solutions based on IoT are being created to Maintain and monitor agricultural farms automatically with minimal human involvement.

Hence, the increasing utilization of IoT sensors in crop production has provided with the ample opportunities for the growth of Asia-Pacific vertical farming market.

Restraints/Challenges
HIGH INITIAL INVESTMENTS IN VERTICAL FARMING
The biggest hurdle to the introduction of vertical farming are the high upfront costs. High capital costs are the product of both the higher per square metre land prices in urban centres and the facilities required to manage plant development. Vertical cultivation happens without the involvement of insects in a controlled climate. As such, the method of pollination has to be performed manually, which would be labour intensive and expensive. As high as energy prices are in vertical farming, due to their concentration in urban centres where incomes are higher, as well as the need for more skilled workers, labour costs may be much higher. However, automation at vertical farms can contribute to the need for fewer employees. In vertical farms, manual pollination can become one of the more labor-intensive functions. Although the start-up costs of vertical farming are high, the long-term advantages are gradually being understood and accepted by all - even retailers - participating in the food supply chain. The reality that the upfront capital needed to build and develop a vertical farm is significant is no running away. The prospective long-term potential growth and benefits offered by being at the forefront of this emerging industry, however, make it an enticing investment proposal for those with funds. A vertical farm instead of automation relies more on manual labour for watering and harvesting. The cost of powering LED grow lights is one of the biggest hurdles a vertical farm must overcome for its produce to be competitive with fruits and vegetables from a traditional farm. As businesses contend with the energy costs of keeping a regulated atmosphere 24/7 and the challenge of coordinating the labour-intensive method of operating a vertical farm, the industry is riddled with bankruptcies.

Hence, high initial investments in vertical farming is retarding the growth of the Asia-Pacific vertical farming market.

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ASIA-PACIFIC VERTICAL FARMING MARKET SCOPE
The Asia-Pacific vertical farming market is segmented based on growth mechanism, structure, type, crop type, application and component. .The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

Growth Mechanism
Hydroponics
Aeroponics
Aquaponics
On the basis of growth mechanism, the Asia-Pacific vertical farming market is segmented into hydroponics, aeroponics and aquaponics.

Structure
Shipping Containers
Building Based
On the basis of structure, the Asia-Pacific vertical farming market is segmented into shipping containers and building based.

Type
Biopesticides
Biofertilizer
Biostimulants
On the basis of type, the Asia-Pacific vertical farming market is segmented into biopesticides, biofertilizer and biostimulants.

Crop Type
Leafy Green
Pollinated Plants
Nutraceutical Plant
On the basis of crop type, the Asia-Pacific vertical farming market is segmented into leafy green, pollinated plants and nutraceutical plant.

Application
Indoor
Outdoor
On the basis of application, the Asia-Pacific vertical farming market is segmented into indoor and outdoor.

Component
Lighting
Hydroponic Component
Climate Control
Sensors
On the basis of component, the Asia-Pacific vertical farming market is segmented into lighting, hydroponic component, climate control and sensors.

ASIA-PACIFIC VERTICAL FARMING MARKET REGIONAL ANALYSIS/INSIGHTS
The Asia-Pacific vertical farming market are analyzed, and market size insights and trends are provided based on as referenced above.

The countries covered in the Asia-Pacific vertical farming market report are Japan, China, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific.

China is expected to dominate the Asia-Pacific vertical farming market in terms of market share and revenue. It is estimated to maintain its dominance during the forecast period due to strong market players and high demand for vertical farming in the china region.

The report answers questions such as:
What is the market size and forecast of the Asia-Pacific Vertical Farming Market?
What are the inhibiting factors and impact of COVID-19 shaping the Asia-Pacific Vertical Farming Market during the forecast period?
Which are the products/segments/applications/areas to invest in over the forecast period in the Asia-Pacific Vertical Farming Market?
What is the competitive strategic window for opportunities in the Asia-Pacific Vertical Farming Market?
What are the technology trends and regulatory frameworks in the Asia-Pacific Vertical Farming Market?
What is the market share of the leading vendors in the Asia-Pacific Vertical Farming Market?
What modes and strategic moves are considered suitable for entering the Asia-Pacific Vertical Farming Market?

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