Global vertical agriculture market to reach $ 24.11 billion by

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Portland, OR, October 06, 2021 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the vertical agricultural market generated $ 3.24 billion in 2020 and is expected to reach $ 24.11 billion by 2030, with a CAGR of 22.9% from 2021 to 2030. The report provides in-depth analysis of changing dynamics market, value chain, key segments, regional landscape, major investment pockets, and competitive scenario.

Optimal use of vertical space and balanced use of energy, ease of crop monitoring and harvesting, and limited arable land for traditional agriculture are driving the growth of the global vertical agriculture market. However, high initial investments hold back the growth of the market. On the other hand, the rise of organic foods presents new opportunities in the years to come.

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Covid-19 scenario:

  • Due to the unavailability of labor, the vertical agriculture sector has been significantly affected. However, the building-based vertical trusses have had a positive impact.
  • With lockdown restrictions in place, a drop in manufacturing use, and travel bans and facility closures, the electronics industry has been affected. This has led to a reduction in the production and supply of electronic equipment required for a vertical agricultural installation, such as sensors, lights and the like.

The report offers detailed segmentation of the global vertical agriculture market on the basis of structure, growth mechanism, component, and region.

On the basis of the structure, the building-based vertical trusses segment contributed the highest share in 2020, holding more than half of the total share, and is expected to maintain its leading position during the period of forecast. However, the segment of vertical farms based on sea containers is expected to experience the highest CAGR of 25.2% from 2021 to 2030.

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Based on the growth mechanism, the hydroponics segment contributed the highest share in 2020, accounting for more than two-fifths of the global vertical agriculture market, and is expected to retain its leading status in terms of revenue. during the forecast period. However, the aeroponics segment is expected to represent the fastest CAGR of 24.0% from 2021 to 2030.

Based on region, Asia-Pacific accounted for the highest share in 2020, contributing almost half of the total share, and is expected to retain its dominant share by 2030. However, Europe is expected to register the largest CAGR of 25.3% during the forecast period.

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The major global vertical agriculture market players analyzed in the research include 4D Bios Inc., Agrilution, AeroFarms, Everlight Electronics Co., Ltd., AMHYDRO (American Hydroponics), Illumitex Inc., Hort Americas, Urban Crop Solutions, Koninklijke Philips NV, and the Greens of Heaven.

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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

Pawan Kumar, CEO of Allied Market Research, leads the organization towards delivering high quality data and information. We have professional relationships with various companies, which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecast. Each of the data presented in the reports we publish is extracted through primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.


        


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