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The Asia Pacific Vertical Farming Market would witness market growth of 21.1% CAGR during the forecast period (2017 - 2023). Vertical farming is a process that is used to produce food and medicine in vertically stacked layers, vertically inclined surfaces andor integrated in other structures (such as in a skyscraper, used warehouse, or shipping container). The vertical farming practice uses indoor farming methods and controlled-environment agriculture (CEA) system, as it possible to fully control environmental factors.
The vertical farming facilities artificially control light, environmental changes (humidity, temperature, gases) and fertigation. The demand for vertical farming is expected to witness significant growth during the forecast period, globally. Factors such as growing popularity of organic foods, rapidly growing urban population, and decrease in arable land are the factors that contribute to the market growth. However, high initial investments and involvement of nascent technology are the factors that would hamper the market growth.
Based on Growth Mechanism, the market report segments the market into Hydroponics, Aeroponics, and Aquaponics. Based on Component, the market report segments the market into Lighting, Building Material, Irrigation Component, Sensor, Climate Control, and Others. Based on Countries, the Vertical Farming market segments the market into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the Vertical Farming Market. Key companies profiled in the report include AeroFarms, Urban Crops Solutions, Illumitex, Inc., Koninklijke Philips N.V., Sky Green Ltd., Everlight Electronics Co., Ltd., American Hydroponics, Hort Americas, Agrilution, and Green Sense Farms, LLC.