Global Vertical Farming Market in Asia Pacific to see 30% CAGR to 2024 - PowerPoint PPT Presentation

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

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Request Sample of Report @ 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. – PowerPoint PPT presentation

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Title: 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
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