Report : Middle East and Africa Vertical Farming Crops Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Crop Type (Tomato, Leafy Greens, Herbs, and Others), End-Use (Food Retail, and Food Service), and Farming Technique (Hydroponics, Aeroponics, and Aquaponics)
Hydroponics segment to dominate the Middle East & Africa Vertical Farming Crops Market during 2020–2028
According to a new market research study on “Middle East & Africa Vertical Farming Crops Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Crop Type, End-Use, and Farming Technique” is expected to reach US$ 66.00 million by 2028 from US$ 19.12 million in 2021. The market is estimated to grow at a CAGR of 19.4% from 2021 to 2028. The report provides trends prevailing in the Middle East & Africa vertical farming crops market along with the drivers and restraints pertaining to the market growth. Burgeoning demand for fresh, pesticide-free, and locally grown produce, modest availability of arable land for conventional agriculture, and AI-controlled vertical farms are the major factor driving the growth of the Middle East & Africa vertical farming crops market. However, extensive initial investment hinders the growth of Middle East & Africa vertical farming crops market.
Saudi Arabia has the highest COVID-19 cases in the Middle East and Africa region and is followed by Turkey and the UAE. The UAE was the first country in the Middle East and Africa to report a confirmed case of coronavirus. However, support by the government during the COVID-19 outbreak will offer opportunities in the region. For instance, In -Oct-2020 FAO launched a pioneering project to provide capacity building and technical support for the Integrated Agri-Aquaculture (IAA) farming systems in Jordan. The project is designed to train unemployed agricultural engineer graduates and farmers, set up a knowledge base, and research “Hydroponics and Aquaponics” farming units. Furthermore, it aimed to support the employment of youth and women job seekers by creating employment opportunities in aquaponics and hydroponics.
The Middle East & Africa vertical farming crops market is segmented on the basis of crop type, end-use, farming technique, and country. Based on crop type, the market is segmented into tomato, leafy greens, herbs, and others. In 2020, leafy greens segment held the largest share in the market, and herbs is expected to be the fastest growing segment during the forecast period. Based on end-use, the market is segmented into food service and food retail. In 2020, food retail segment held the largest share in the market, and food service is expected to be the fastest growing segment during the forecast period. Based on farming technique, the market is segmented into hydroponics, aeroponics, and aquaponics. In 2020, hydroponics segment held the largest share in the market, and aeroponics is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into the UAE, Saudi Arabia, South Africa, and Rest of MEA. In 2020, Rest of MEA held the largest share in the market, and the UAE is expected to be the fastest growing country during the forecast period.
AeroFarms, CropOne, Plantlab, and Gotham Greens are among the leading companies in the Middle East & Africa vertical farming crops market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, AeroFarms built world’s largest R&D Indoor Vertical Farm in Abu Dhabi as part of USD $100 million AgTech investment by Abu Dhabi Investment Office (ADIO).
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