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The Latin America, Middle East and Africa Vertical Farming Market would witness market growth of 23% 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. Vertical farming helps in harvesting fresh organic crops in fast paced cities with additional advantages such as high yield, zero pesticides usage, and low water requirement. Today, food supplies from traditional farming are used by the urban population. These traditional farming methods use pesticides to increase the yield and also use preservatives to extend shelf life of foods. Significant demand for fresh, home-grown organic food has driven the growth of the vertical farming market.
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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA. 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.