Market Overview:
MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Middle East Vertical Farming Market, The Middle East Vertical Farming Market is projected to grow at a CAGR of around 18.76% during the forecast period, i.e., 2022-27. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Middle East Vertical Farming Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.
Industry Outlook & Forecasts:
- Forecast Period: 2022-2027
- CAGR (2022-2027): 18.76%
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Middle East Vertical Farming Market Segmentation Breakdown:
The Middle East Vertical Farming Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
By Growth Mechanism
- Hydroponics
- Aeroponics
- Aquaponics
Here, Hydroponics is anticipated to witness the highest demand & demonstrate the fastest growth in the Middle East Vertical Farming Market during the forecast period.
By Structure
- Shipping Containers
- Building Based
- Deep Farms
By Farm Location
- Indoor
- Outdoor
By Crop Type
- Tomato
- Lettuce
- Bell & Chili Peppers
- Strawberry
- Cucumber
- Leafy Greens
- Others
By Component
- Hardware
- Lighting
- Grow Light
- Grow Ballast
- Grow Reflectors
- Hydroponic Component
- Pump & Irrigation
- Water Filtration
- Meters & Solutions
- Others
- Climate Control
- Ventilation Fans
- Air Purification/Control
- Sensors
- Co2 Sensors
- Temperature Sensors
- Nutrient Sensors
- Crop Sensors
- PH Sensors
- Others
- Building Material
- Glass green house
- Plastic green house
- Software (Tracing and Tracking, Post-Harvest Audit, Analytics etc.)
- Services
Here, Hardware components like Lighting acquired the largest share of the Middle East Vertical Farming Market in recent years.
Geographical Growth Insights:
By Country
- UAE
- Saudi Arabia
- Israel
- Egypt
- Rest of Middle East
Here, the UAE is anticipated to emerge as an area of opportunities for the players in the Middle East Vertical Farming Market & contribute significantly to the industry growth in the coming years.
Key Drivers: Increasing Need to Minimize Import Dependency & Bring Food Security
Since many countries in the region are highly dependent on imports for food, the need to minimize this dependency is elevating rapidly. Especially amidst the Covid-19 pandemic, when the governments imposed movement restrictions and trade bands, food security was challenged due to hindrances in imports. This aspect played a prominent role in bringing a reality check to the countries and instigating them to attain food security using advanced technologies and farming methods like vertical farming, leaving no challenge (like water scarcity & unavailability of arable land) unaddressed. It, in turn, demonstrated a rise in the practice of vertical farming and its positive influence on market growth.
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A Comprehensive Analysis of Leading Companies in Middle East Vertical Farming Market
- AeroFarms
- Freight Farms
- Plenty
- CropOne
- Badia farms
- Intelligent Growth Solution
- Osram GMBH
- Koninklijke Philips N.V
- Urban Fresh Farms
- Others
Possible Restraint: Limited Variety of Crop Cultivation & High Initial Set-up costs
Since vertical farming limits the type of crops that can be cultivated in this farming method, it might restrain investors to expand their vertical farming capacities and hamper the industry growth in the Middle East. Besides, the initial investment cost for vertical farming is high and may also restrain cost-sensitive farmers to utilize the technique. Hence, such aspects can pose challenges to market growth in the coming years.
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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
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