The Vertical Farming Market deals with the development and manufacture of cutting-edge controlled agriculture ecosystems called vertical farming systems. Despite the inclusion of the term “farming” being up for debate, vertical farming involves the growing of agricultural products by utilizing the concept of aeroponics, where crops are not exposed to sunlight or soil and stacked in vertical beds.
The Vertical Farming Market has discarded plenty of conventional necessities in an effort to exert greater control over the process. For example, plants need certain wavelengths of light to convert into chemical energy. Such a process is called photosynthesis. But the light doesn’t necessarily have to come from the sun. In this manner, vertical agriculture has gotten rid of pesticides, fertilizer, soil and water.
Scope & Regional Forecast of the Vertical Farming Market
The years of R&D undertaken by the Vertical Farming Market has ensured that vertical farming technology can grow crops through the year, protect crops from various elements of nature like rainfall, and provide nutrients which can be consumed safely by humans.
The Vertical Farming Market considers the prime growth drivers to be a few factors like: rapid urbanization and population growth; lack of human resources to man rural agricultural operations; amount of arable land decreasing due to climate change and industrialization; and putting old or decrepit industrial structures to agricultural use.
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Another advantage provided by indoor vertical farming is the growth and sale of crops on a local basis. Vertical farming companies can reduce their emissions by avoiding unnecessary transportation of produce. The technology also gives rise to jobs on a large-scale as numerous vertical farming planters are required to assess the crops.
Currently, the Vertical Farming Market has carve dout space for itself in countries like Singapore, United Kingdom and Japan. Middle-East is expected to be a major future players as the countries in the region look to decrease their dependence on food imports.
Segmentations & Key Players Involved in the Vertical Farming Market
According to IndustryARC findings, the Vertical Farming Market can be broken down into various segmentations on the basis of –
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Some of the key players involved in the Vertical Farming Market according to IndustryARC are as follows:
- Alterrus Systems Inc.
- Domes International Inc.
- Golden Agri Resources Ltd.
- New Quantum Holdings Pte Ltd.
- Farmart Centre Pte Ltd.