San Francisco, California, May 23, 2017: TMR Research announces a new report on the global vertical farming market. The historical growth patterns exhibited by the global vertical farming market are studied extensively in the report in order to gain a clear idea of the key factors affecting the market’s growth trajectory. The latest figures of the global vertical farming market are elaborated upon in great detail in the report, and reliable predictions are made regarding the market’s probable future development. The report is titled ‘Vertical Farming Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025.’
One of the key drivers for the global vertical farming market is the rising global population and the consequent scarcity of food. While the human population has risen at an alarming rate in the last few centuries, this has stretched the earth’s carrying capacity to its limits. As a result, unconventional ways of practicing agriculture are becoming popular across the world. Vertical farming has quickly become one of the most popular methods among these, as it presents significant benefits regarding costs and convenience. The rising scarcity of water and other agricultural commodities has also driven the demand from the global vertical farming market.
The rising awareness among urban users about environmental problems and their willingness to counteract them has led to the global vertical farming market gaining rising demand from urban centers. The demand for organic food is also high in urban centers, which has resulted in many urban consumers practicing organic agriculture in their residences. The availability of a highly controllable environment has also made it possible to considerably reduce the use of pesticides, which has attracted government interest due to the possibility of acquiring safer food. This is a vital driver for the global vertical farming market, as the vertical farming process is still highly expensive and requires steady government support for widespread adoption.
The increasing knowledge base about agriculture has also made it easier to grow crops in unconventional settings, as most conventional conditions can be replicated through the use of technology. The steady development of devices such as grow lights and controlled-environment agriculture has thus been crucial for the global vertical farming market.
Regionally, Asia Pacific is likely to remain the leading contributor to the global vertical farming market in the coming years. China and Japan have risen to prominence in the vertical farming market in the past few years and are likely to retain significant dominance in the market in the coming years due to the rapid urban development in these regions and the steady availability of government support and advanced technology for vertical farming. The steady regulatory support to environmental conservation in Europe is also likely to keep Europe a leading vertical farming market in the coming years.
The report also profiles the leading players in the global vertical farming market in order to shed light on the competitive dynamics of the market. Key companies examined in the study include Aerofarms, Sky Greens, Deere & Company, CNH Industrial NV, and Illumitex Inc.