Los Angeles, December 16, 2019 – QY Research has recently published a new report titled “Global Vertical Farming and Plant Factory Market Insights, Forecast to 2025,” which provides unique insights about global Vertical Farming and Plant Factory market. According to the report, the market is predicted to reach little more than US$ 370 Mn in 2025 from around US$ 160 Mn in 2018. The Vertical Farming and Plant Factory market are projected to exhibit a moderate CAGR of 5.4% from 2019 to 2025.
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Quality Crop Yield and Productivity to Enhance the Growth of the Market
High demand for increasing crop yield and decreasing availability of fertile land has led to the demand for methods that do not require soil for cultivation. Other conditions in traditional farming such as rain, weather, drought, and flooding are affecting productivity. There is an increasing need to improve productivity along with the quality of crop yield. Overcoming these challenges of traditional farming is a major factor contributing to the growth of the Vertical Farming and Plant Factory market.
Challenges to Traditional Cultivation is Responsible for the Growth of the Type Segment
The type segment is bifurcated into Aeroponics, Hydroponics, and Others. Aeroponics ensures a disease-free environment for plants and it promotes plant growth at higher density than traditional farming. This type of indoor plant growing practice supports growth to sustain plant life requires only air and water for nourishment and the mist environment. Increasing demand for methods to keep plants free of pests is likely to lead to the growth of the Aeroponics segment.
The Application Segment is segregated into Fruit planting and Vegetable cultivation.
Rising Pollution and Decrease in Fertile Lands in Asia Pacific to Fuel the Growth of the Market
Asia Pacific – The region is anticipated to hold a significant share of the market due to the rising unavailability of fertile land along with an increasing need to boost productivity and the necessity to control pollution levels. Other factors such as massive flooding and reoccurrences of draughts are likely to foster the growth of the market.
Europe – Developed countries of the region have incorporated advanced technology into agriculture and horticulture, which has led to a high demand for genetically modified crops. Other technologies such as automation and robotics are promoting advances in agriculture and food production. This has led to an increasing demand for vertical farms to control pests and diseases and to combat challenges of weather and pollution.
Product Development and R&D: Key Players’ Prime Area of Focus
Some of the key players operating in the Vertical Farming and Plant Factory market are Lufa Farms, AeroFarms, Garden Fresh Farms, Gotham Greens, Plenty (Bright Farms), Sky Greens, TruLeaf, Scatil, Spread, Mirai, Nongzhong Wulian, Beijing IEDA Protected Horiculture, and Sanan Sino Science. Key players are involved in product development, R&D, and collaborations to penetrate the regional market.
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