(Food-Beverage-News.Com, October 17, 2017 ) According to the report “Middle East And Africa Vertical Farming Market By Growth Mechanism (Hydroponics, Aeroponics And Aquaponics), By Structure (Building Based And Shipping Container), By Offering (Hardware, Software, And Service), By Crop Type And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)” published by Market Data Forecast, the Middle East and Africa Vertical Farming Market was worth USD 0.38 billion in 2016 and expected to be growing at a CAGR of 26.4%, to reach USD 1.21 billion by 2021.
With the dawn of indoor farming methods and Controlled Environment Agriculture (CEA), Vertical Farming is the newest improvement in farming, wherein all environmental influences can be controlled. In the Vertical Farming method, foods and medicines are grown in vertically fixed layers, vertically inclined surfaces or in integrated structures like warehouses, shipping containers, skyscrapers, etc.
Vertical Farming techniques regulate parameters like the amount of light, environmental factors like temperature, humidity, gases, etc., and fertigation factors which include application of fertilizers and other soil products. In some Vertical Farms, natural light is used in conjunction with artificial lighting and metal reflectors, similar to greenhouses.
Increasing consumer demand for organic foods, foods free from pesticides and genetically modified organisms (GMOs) is the major driving force of the market. The utility of artificial lighting to enhance the yield, health and growth rate of plants coupled with lower dependency on weather for production is driving the market from the producer side. The above factors accompanied by the growth in use of technology such as Internet of Things (IoT) in Vertical Farming, difficulty in land farming techniques due to geographical factors, and increase in the annual production of crops are predicted to exponentially boost market growth. High costs of lighting equipment and continuous maintenance requirement are the constraints faced by the Vertical Farming market.
The Middle East and Africa Vertical Farming market is segmented by Growth Mechanism, Structure, Offering, Crop Type, and Geography. By the Growth Mechanism Type, the market is classified into Hydroponics, Aeroponics, and Aquaponics. By the Structure used, the market is separated into Buildings and Shipping Containers. By the type of Offering, the market is classified into Hardware, Software, and Service. The Vertical Farming market is further segmented on the basis of Crop Type and Geography.
The Middle East and Africa Vertical Farming Market is geographically segmented into Middle East and Africa. The high necessity for large production of food crops due to meagre land arability because of geographical factors is the major driving force of the Vertical Farming market, particularly in the Middle East. Major companies are looking to capitalise on this factor, which is expected to further boost market growth. The significant players in the Middle East and Africa Vertical Farming Market are Illumitex Inc. (U.S.), Aerofarms (U.S.), Koninklijke Philips N.V. (The Netherlands), and Sky Greens (Singapore) among others.
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