The Asia-Pacific vertical farming market is anticipated to grow significantly at a CAGR of 19.0% over the forecast period (2020-2026). China, India, Japan, ASEAN, South Korea, and the Rest of Asia-Pacific are the major economies contributing to the growth of the Asia-Pacific vertical farming market growth. The key aspect that drives the growth of the Asia-Pacific vertical farming market includes the support from the government of the economies. For instance, the government of India is supporting hi-tech agriculture in the country including vertical farming. Furthermore, the government of Japan supports and provides incentives and loans for indoor vertical farming in the country. SPREAD Co. Ltd., a Japan-based company has been the country’s largest plant factory benefitted by the Japanese government’s support.
Browse the full report description of "Asia-Pacific Vertical Farming Market Size, Share & Trends Analysis Report by Structure Type (Building-based Vertical Farming and Shipping Container-based Vertical Farming), by Growth Mechanism (Aeroponics, Hydroponics, and Aquaponics), and by Component (Sensors, Lighting, Climatic Controls, Irrigation Component, Building Material, and Other Components) Forecast, 2020-2026" at https://www.omrglobal.com/industry-reports/asia-pacific-vertical-farming-market
Further, in December 2018, SPREAD Co. Ltd. started a large techno farm in the country; it is also one of the country’s largest automated leaf-vegetable factory. The opening of the novel techno farm is likely to create substantial growth opportunities for market growth in the country. Moreover, the companies operating in the region are also expanding their operations in untapped areas such as Hong Kong. Hong Kong is a densely populated country with less availability of farming land. For instance, in November 2019, Sustenir, a Singapore-based Agri-tech company, announced the launch of a 30,000 sq. ft. hydroponic vertical farming facility in Hong Kong. Hence, such factors are likely to support the growth of the market in the Asia-Pacific region over the forecast period.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected segment
Asia-Pacific Vertical Farming Market – Segmentation
By Structure Type
By Growth Mechanism
By Component
Asia-Pacific Vertical Farming Market – Countries Covered
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