(MENAFN- America News Hour) Asia Pacific vertical farming market shall witness maximum gains
during the forecast timeframe. Decreasing arable land size coupled with rapid
urbanization in most of the countries in Asia Pacific will be a prime factor
driving vertical farming market size growth in the coming years. Vertical
farming will reduce the dependency on field farming and aid in avoiding the
need for new farmland to suffice the increasing food need of the escalating
population in Asia Pacific. This would save plenty of natural resources that
face threats due to pollution or deforestation. Desertification and
deforestation caused by agricultural encroachment over natural biomes will be
avoided. The technology allows the produce to be grown near the consumer. This
will significantly curtail the fossil fuel usage to refrigerate and transport
the farm produce.
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According to the Graphical Research new growth forecast report
titled ' Asia Pacific
Vertical Farming Market analysis
based on Product, Technology, Application,Industry Analysis Report, Regional
Outlook, End-User Potential, Competitive Market Share & Forecast, 2018 –
2024 ', estimated to exceed USD 5 billion by 2024.
The Chinese government mentioned the importance of controlled
environment and green agriculture in its eleventh five-year plan for National
Economics and Social Development. Multiple research projects are ongoing such
as the National High Science & Technology Project that combines fifteen
companies, institutes, and universities on plant factory production technology.
The project is supported by the Ministry of Science and Technology of China.
The Chinese government is encouraging vertical farming industry by 'MYRAID'
subsidy for new production capacity. Heilongjiang province offers a subsidy of
about USD 8,750 per acre for a new hothouse capacity.
Food security is essential in countries suffering from reducing
food self-sufficiency rates. For instance, Japan has experienced a fall in its
self-sufficiency ratio from 80% in 1960 to 40% currently. This issue is
evolving significantly owing to the factors such as water scarcity, conversion
of land for other uses, soil erosion, farmland getting abandoned and rise in
the average age of the farmer. The support of the government for indoor
agriculture is an initiative to incorporate low-environmental impact through
farming in cities in Asia, which will subsequently propel vertical farming
market growth during the forecast timeframe.
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Table of Content:
Methodology & Scope Market scope & definitions Assumptions Research methodology Executive Summary Industry Insights Industry segmentation Industry ecosystem analysis Industry impact forces Growth drivers Growth restraints Regulatory overview Porter's analysis PESTEL analysis Competitive landscape, 2017 Browse key industry insights along with Table of Content @https://www.graphicalresearch.com/table-of-content/1107/apac-vertical-farming-market
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North America Vertical Farming Market Size, Industry Analysis
Report, Regional Outlook, Application Development Potential, Price Trends,
Competitive Market Share & Forecast, 2018 – 2024 : https://www.graphicalresearch.com/industry-insights/1098/north-america-vertical-farming-market
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Graphical Research
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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