Saudi Arabia Vertical Farming Market to Grow at 7.81% CAGR over 2024 to 2029

According to TechSci Research report, “Saudi Arabia Vertical Farming Market –Industry Size, Share, Trends, Competition Forecast & Opportunities, 2019-2029F”, the Saudi Arabia Vertical Farming Market stood at USD 35.40 Million in 2023 and is anticipated to project steady growth in the forecast period with a CAGR of 7.81% through 2029. The drivers of the Saudi Arabia Vertical Farming Market are numerous and multi-faceted. Foremost amongst them is the increasing need for food security amidst a growing population and limited arable land. Additionally, the region's harsh climatic conditions make traditional farming challenging, leading to the adoption of vertical farming technologies. Government support through favorable policies and subsidies also stimulates the market.

Furthermore, advancements in technology, such as hydroponics and aeroponics, have made vertical farming more efficient and cost-effective, driving its adoption. An increased awareness about sustainable farming methods and the demand for organic produce are also significant growth drivers.

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The Saudi Arabia Vertical Farming Market is experiencing a significant surge, driven by the country's bid to achieve agricultural self-sufficiency and reduce its dependence on food imports. Innovative technologies, such as hydroponics and aeroponics, are being introduced, enabling crops to be grown in an environment-controlled, space-efficient manner with reduced water usage. Increased government support in the form of investment and favorable policies is a key factor driving this growth. The Saudi Vision 2030 plan, which aims to diversify the country's economy beyond oil, has earmarked agriculture, and specifically vertical farming, as a crucial area of development. The state-owned Saudi Agricultural and Livestock Investment Company (SALIC) has been actively investing in vertical farming projects, both domestically and internationally.

Furthermore, the harsh climatic conditions in Saudi Arabia, characterized by high temperatures and scarce water resources, make traditional farming methods untenable. Vertical farming offers a viable solution as it requires significantly less water than conventional farming and allows for year-round production irrespective of external weather conditions.

A notable player in the market is the Riyadh-based vertical farm startup, Red Sea Farms, which has received substantial investment for its unique technology that uses saltwater to grow crops. This innovation is particularly important in Saudi Arabia, where freshwater resources are limited. However, the vertical farming market in Saudi Arabia is not without its challenges. High setup and operational costs, coupled with a lack of skilled labor, are barriers to entry. There are also concerns about the market's long-term sustainability given the country's heavy reliance on imported technology and expertise.

Despite these challenges, the future outlook for the Saudi Arabia Vertical Farming Market is promising. As technology continues to evolve and become more affordable, and as the benefits of vertical farming become more widely recognized, the market is anticipated to grow at an accelerated pace.

The scenario of the Saudi Arabia Vertical Farming Market is one of robust growth and vast potential. While challenges remain, the combination of government support, innovative technologies, and the country's unique climatic conditions position Saudi Arabia as a burgeoning hub for vertical farming.

 

The Saudi Arabia Vertical Farming Market is segmented into structure, growth mechanism, application, regional distribution, and company

 

Based on growth mechanism, Hydroponics, the dominant method in the Saudi Arabia vertical farming market, has revolutionized agriculture in the region. This innovative technique involves cultivating plants without soil, utilizing mineral nutrient solutions in water. The efficient utilization of water and space makes hydroponics a popular choice, especially in an arid environment with limited arable land. By eliminating the need for traditional soil-based farming, hydroponics offers a sustainable solution for food production, ensuring a consistent and reliable supply of fresh produce. Its precise control over nutrient delivery and environmental factors allows for optimized plant growth and increased crop yields. This means that farmers can grow more crops in a smaller space, maximizing productivity and efficiency.

Moreover, hydroponics provides an opportunity for year-round farming, regardless of external conditions. With the ability to control factors like temperature, pH levels, and lighting, farmers can create the ideal growing environment for their plants. This level of precision and customization allows for better crop quality and reduced reliance on external factors such as weather or pests. With its numerous advantages, hydroponics has become a cornerstone of the agricultural landscape in Saudi Arabia, paving the way for a greener and more self-sufficient future. It not only addresses the challenges posed by limited arable land and water scarcity but also promotes sustainable and resource-efficient farming practices. As the demand for fresh and locally grown produce continues to rise, hydroponics offers a promising solution to meet these needs while minimizing environmental impact.

Based on region, the central region of Saudi Arabia, known for its arid climate and limited water resources, is rapidly establishing itself as a frontrunner in the vertical farming market. By strategically embracing advanced agricultural technologies, such as hydroponics and aeroponics, the region is overcoming these challenges and paving the way for sustainable food production. Vertical farming, a method that utilizes vertical space and advanced cultivation techniques, requires significantly less water and land compared to traditional farming. This not only mitigates the strain on scarce resources but also reduces the environmental impact associated with agriculture.

The Saudi government's proactive support and investment in agri-tech innovations have played a pivotal role in driving the growth of the vertical farming industry in the region. This forward-thinking approach demonstrates their commitment to ensuring food security and promoting economic diversification for a sustainable future. With its unique blend of advanced technologies, strategic planning, and governmental support, the central region of Saudi Arabia is poised to become a global leader in the field of vertical farming, setting an example for other regions facing similar challenges in agriculture and resource management.

 

Major companies operating in the Saudi Arabia Vertical Farming Market are:

• Mowreq Specialized Agriculture Company
• GrowGroup IFS
• Signify Saudi Arabia
• Kalera AS
• AeroFarms, LLC

 

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“The future of the Saudi Arabia Vertical Farming Market appears promising due to the nation's increasing focus on food security and technological advancements. With the harsh desert climate and scarcity of arable land, vertical farming offers a sustainable solution to enhance local food production. Moreover, the government's Vision 2030 plan supports agricultural development, which will likely boost growth in the vertical farming sector. Technological advancements such as hydroponics and aeroponics further fuel this trend, promising higher yields and efficient use of resources. As urbanization increases, the demand for fresh, local produce is expected to drive the vertical farming market in Saudi Arabia.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Saudi Arabia Vertical Farming Market By Structure (Building-Based Vertical Farms and Shipping Container Vertical Farms), By Growth Mechanism (Hydroponics, Aeroponics, Aquaponics), By Application (Indoor and Outdoor), By Region, Competition, Forecast and& Opportunities, 2019-2029F”, has evaluated the future growth potential of Saudi Arabia Vertical Farming Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia Vertical Farming Market.

 

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