Global Vertical Farming Market Research Report Foresees The Market Value To Touch USD 18.8 BN By 2026
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The “Global Vertical Farming Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026” research study offered on Decisiondatabases.com gives an in-depth description of the market growth, trends and forecast for the global cleaning chemicals market. The report predicts that the global vertical farming market would reach USD 18.8 BN by 2026 along with a CAGR of 25% within the forecasted period between 2020 to 2026. The vertical farming market had a value close to USD 3.95 BN in 2019.
Vertical farming is the term used to describe the modern cultivation practice of growing plants in a closed environment on vertical surfaces or skyscraper greenhouses. This practice utilizes artificial lighting and metal reflectors as an alternative to natural sunlight. The use of pesticides and poor weather conditions has very little impact on vertical farming. These plants are produced in specific quality and quantity and have control over their cost and sales prices. The robot technology in vertical farming meets the hygiene and safety norms and dismisses human efforts. The technologies used in vertical farming are greenhouse, the folkewall and other vertical growing architectures, aeroponics/hydroponics/aquaponics, composting, grow light, phytoremediation, skyscraper and controlled-environment agriculture. The artificial lighting helps in extending the hours of the natural daylight, which further increases the health, growth rate, and yield of the plants. Artificial lighting such as high-pressure sodium lights and LED lights can extend the availability of crops (throughout a season). LED lighting systems produce a dual-band color spectrum and generate low heat. They are expected to witness significant growth over the forecasted period up to 2026. Hydroponic systems are a technique of growing plants without the usage of soil. A hydroponic system eliminates the need for pesticides and artificial ripening agents and helps in producing nutritionally-rich vegetables.
The constancy and the ability to grow vegetables 24 hours a day, maintenance of freshness & hygiene in crops, depleting agricultural land and the demand for organic crops are the driving forces behind the growth of vertical farming. The optimum usage of vertical space & energy utilization, ease in monitoring & harvesting of crops and the limited availability of arable land for carrying out traditional agriculture are responsible for driving the growth of the global vertical farming market.
By technology, hydroponics, aeroponics and aquaponics are the segments of the global vertical farming market.
By LED lighting, red and blue are the classifications of the vertical farming market as per the report.
By LED grow light module, large warehouse plant factories and home & restaurant are the classifications of the global vertical farming market.
By geography, Asia Pacific, North America, Europe, Latin America and Middle East And Africa are the regional segments of the global vertical farming market.
The key players of the worldwide vertical farming market have been profiled as Spread Co., Granpa, Iwasaki Electric, Nihon Advanced Agri Corporation, Pacific Group, Ryobi Holdings, Philips Horticulture Lamps, Everlight Electronics with detailings on each company’s future capacities, key mergers & acquisitions, financial outline, collaborations and new product launches & developments.
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