The Latin America, Middle East and Africa Vertical Farming Produce Market would witness market growth of 25% CAGR during the forecast period (2020-2026). As per the report of the World Bank Group, it is noted that there has been a decline in the global arable land per capita from 0.197 hectares in the year 2013 to 0.192 hectares in the year 2016. The lack of arable land due to land degradation has insisted the farmers go for new solutions in order to produce fresh food. Consequently, many farmers tend to shift to the modern indoor cultivation methods, in which the crops are arranged in layers inside shipping containers, buildings, and warehouses. These indoor vertical farms have enabled the growth of the total plantation area that uses the stacked layers of the potted seeds. Moreover, since these crops are grown in a controlled environment, farmers are able to grow different vegetables that they cannot be grown outside because of unfavorable conditions, this is expected to boost the market growth in the Middle East and Africa.
Growing demand for fresh and organic vegetables, the rise of state-of-the-art agriculture techniques, and increasing urbanization are some of the critical factors that are responsible for the growth of the market. The global farmland area has reduced due to rapid urbanization all across the globe. The soil quality is getting degraded and it is another reason for the advent of alternative farming techniques, like hydroponics, aquaponics, and aeroponics. The increasing use of alternative cultivation techniques by the farmers is anticipated to drive the demand for fresh produce in the vertical farms over the foreseeable period. Though initial investments are very high in vertical farms and also there is a lack of adoption of this technique in the top agricultural output countries, like Brazil, which are the restraining factors in the growth of the market.
Based on Structure, the market is segmented into Building-based and Shipping Container. Based on Growing Mechanism, the market is segmented into Hydroponics, Aquaponics and Aeroponics. Based on Crop, the market is segmented into Tomato, Leafy Greens (excluding lettuce), Bell & Chili Peppers, Cucumber, Strawberry, Lettuce & Herbs and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Vertical Farming Produce Market in LAMEA is expected to register a CAGR of 25% during the forecast period (2020-2026)
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include The Toro Company, Valmont Industries, Inc., Lindsay Corporation, Orbia Advance Corporation (Netafilm Ltd.), Hunter Industries, Inc., Rain Bird Corporation, Jain Irrigation Systems Limited, Rubicon Water, Galcon Ltd., and Telsco Industries, Inc. (Weathermatic).
Market Segmentation:
By Structure
By Growing Mechanism
By Crop
By Country
Companies Profiled
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