Published Date: 3-Dec-2020
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According to a new report Global Vertical Farming Produce Market, published by KBV research, The Global Vertical Farming Produce Market size is expected to reach $4.7 billion by 2026, rising at a market growth of 22% CAGR during the forecast period.
The tomatoes segment has dominated the market in the year 2019. This high share of this segment is accredited to the high demand for tomatoes in every region as compared to other crops like lettuce, cucumbers, spinach, peppers, herbs, and so on. The lettuce segment is expected to show the highest CAGR over the foreseeable period. The growth is accredited to the ability to grow lettuce economically in both small-scale and large-scale vertical farms.
The hydroponics segment has led the market in the year 2019 and is anticipated to show its dominance over the foreseeable period. Hydroponic farming is a cultivation method of growing plants in the absence of soil. Followed by hydroponics, the aeroponics segment is expected to show considerable growth over the foreseeable period.
The building-based segment has dominated the market in the year 2019. Vertical farms that are set inside a building can have a large yield of vegetables for the huge customer base, rising the segment's sales revenue.
North America has led the market in the year 2019 and is expected to show its dominance over the foreseeable period. The customers from this region are progressively consuming vegetables and fruits that are free from pesticides and other soil contamination. The Middle East is expected to grow at a considerable CAGR from the year 2020 to 2026. The growth can be shown through the advent of vertical farm builders, designers, and cultivation companies in and Saudi Arabia, and the UAE.
Structural Insights: https://www.kbvresearch.com/vertical-farming-produce-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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).
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