Vertical Farming Market to Rise at 24.8% CAGR Till 2026; Growing Demand for Efficient Crop Produce Will Contribute to Market Growth, Says Fortune Business Insights - Seite 2

Asia Pacific to Dominate the Market; Increasing Use of Technologically Advanced Equipment to Aid Growth

The report analyzes the ongoing vertical farming market trends across major regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The market in Asia Pacific is projected to dominate the market in the coming years, driven by growing incorporation of technologically advanced systems in vertical farming practices. Besides Asia Pacific, the market in North America will witness considerable growth in the coming years, owing to increasing investments in product R&D. As of 2018, the market in North America was worth USD 664.7 million and this value is likely to increase further in the coming years.

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List of the leading companies that are operating in the global vertical farming market are:

• AeroFarms
• Green Sense Farms Holdings, Inc.
• 4D Bios, Inc.
• Agrilution
• AMHYDRO
• EVERLIGHT ELECTRONICS CO., LTD.
• Koninklijke Philips N.V.
• Hort Americas
• Illumitex Inc.
• Sky Greens
• Plantagon International
• PLENTY UNLIMITED INC
• Thrive Agritech.

Key Industry Developments:

• May 2019 -  Thrive Agritech, Inc., announced the launch of Apex LED grow light for high-intensity applications including supplemental greenhouse lighting and source lighting for indoor farming.
• February 2017 -  Signify Holding. (Philips Lighting) collaborated with Ecobain Gardens to build first commercial vertical farm operation in Canada. Through this, businesses will be able to accelerate growing cycles and grow healthier, more consistent plants. This partnership offers customers attractive returns on investments via healthier, nutritious and rich foods that attract new customers.

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