The Middle East Vertical Farming Market is expected to grow at a CAGR of around 18.76% during the forecast period, i.e., 2022-27, says MarkNtel Advisors in their research report. The Middle East’s demographics and macro factors are the primary drivers of the market. In addition, the government’s effort to boost local food production is encouraging both local & international players to invest in the market.
Moreover, to decrease food import dependency, the Middle Eastern countries are focusing on different ways to fuel their domestic food production by participating in modern agriculture methods like vertical farming. Further, extreme climatic conditions and the rising consumer demand for locally produced green vegetables are other crucial factors driving the market, further states the research report, “Middle East Vertical Farming Market Analysis 2022.”
Demand for Hydroponics to Register the Fastest Growth Rate through 2022-27
Hydroponic is the technique wherein food is produced without using soil. In this technique, plants are grown using the mineral solution in water inserted around the plant roots. The water crisis in the Middle East region is the most prominent factor contributing to the rising demand for hydroponic methods. The hydroponic mechanism eliminates the risk associated with soil organisms causing diseases. In addition to this, it is a cost-effective technique compared to other growth mechanisms and offers comparatively more return–on–investment.
Further, in case of a power outage, plant-growing using the hydroponic mechanism can survive for a longer time since it can constantly provide water & nutrients. It is unlike the Aeroponic growth mechanism in which plants can die within an hour due to malfunctioning of mist spraying nozzles. Hence, these aspects are leading to the fastest growing demand for the Hydroponic growth mechanism.
“Middle East Vertical Farming Market Analysis, 2022” highlights insights on the market potential & opportunities, along with business strategies to enhance the overall market growth. The report offers an overview of leading market players and their recent developments. Moreover, the report provides incredible market opportunities & emerging trends to help stakeholders make appropriate decisions before investing.
UAE to Register the Fastest Market Growth during 2022-27
The adoption of vertical farming is expected to rise dramatically in the UAE due to the surging food demand & unfavorable weather conditions for traditional farming methods. Vertical farming is helping in enhancing food security, making it the most preferred approach for food production across the country. Moreover, the mounting need to reduce the import dependency for fresh food, coupled with the adoption of technologically advanced crop production solutions, are other crucial factors driving the market in UAE.
According to MarkNtel Advisors, the leading industry players in the Middle East Vertical Farming Market are AeroFarms, Freight Farms, Plenty, CropOne, Badia farms, Intelligent Growth Solution, Osram GMBH, Koninklijke Philips N.V., and Urban Fresh Farms.
Key Questions Answered in the Study