GCC Vertical Farming Market (Structure - Container Based, and Building Based; Application - Indoor, and Outdoor; Component - Lightning, Sensor, Building Material, and Other Component; Technology - Hydrophonic, Aerophonic, and Aquaphonic): Industry Analysis, Trends, Size, Share and Forecasts to 2028

A recent report ongoing study by Infinium Global Research on the vertical farming market provides an in-depth analysis of segments and sub-segments in the GCC as well as regional vertical farming market. The study also highlights the impact of drivers, restraints, and macro indicators on the GCC and regional vertical farming market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the GCC vertical farming market. The value of the market in 2022 was approximately USD 144 million and expected to reach nearly USD 472 million in 2028 with a CAGR of about 22% during the forecast period.

Market Insight

One of the main factors contributing to vertical farming's rising popularity is the fact that it produces a larger yield than traditional farming. The employment of microclimate technology inside the container or greenhouse enables the plant to receive the ideal heat, humidity, and light according to the crop's needs. On a vertical farm, plants are also piled in trays, allowing farmers to grow enough food in a small area. Vertical farming is becoming a more appealing alternative as GCC governments work to minimize the region's reliance on food imports. A flourishing vertical farming industry might, among other things, help the GCC avoid rising food prices and the geopolitical problems that hamper foreign investments in farms.

The market has a lot of room to grow, Due to the support of governments, investors, and businesses from the private sector, including supermarkets. The need for vertical farming is being driven by the increase in investments in vertical farming and the expanding use of contemporary methods in the agriculture sector. The increasing popularity of leafy vegetables in the GCC region is expected to drive the growth of the market. The high cost of installing vertical farming systems and the lack of knowledge about alternative farming methods in some countries, however, could pose difficulties for the market's growth. New integrated technologies and innovations in vertical farming are expected to create multiple growth opportunities for the GCC vertical farming market.

Saudi Arabia is expected to be the largest vertical farming market in the GCC region and held the largest revenue share in the forecast period. Furthermore, the market for vertical farming in Saudi Arabia is expanding due to a boom in the adoption of technology-driven agriculture, including cutting-edge air and water filtration and decontamination. Due to the UAE's growing population, there is a greater need for food security, which is causing the vertical farming business to expand. However, the rising demand for leafy vegetables from Kuwait and Qatar is also expected to boost the vertical farming market in this region.

Report Scope of the Vertical Farming Market:

Segment Covered

The report on GCC vertical farming market covers segments such as structure, application, component, and technology. On the basis of structure, the sub-markets include container based, and building based. On the basis of application, the sub-markets include indoor, and outdoor. On the basis of component, the sub-markets include lightning, sensor, building material, and other component. On the basis of technology, the sub-markets include hydrophonic, aerophonic, and aquaphonic.

Companies Profiled:

The report provides profiles of the companies in the market such as A S AGRI AND AQUA LLP, Sarya Holdings LLC, NAAAS Holding Group, YesHealth Agri-Biotechnology Co., Ltd, PURE HARVEST SMART FARMS, Madar Farms, Crop One Holdings, I.F.A.R.M. Inc., Sky Greens, and Naeem Farms, (powered by Mishkat AgTech's).

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the vertical farming market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.