UAE Vertical Farming Market to Grow with a CAGR of 4.05% through 2028
Growth in research and development activities is expected to drive the UAE
Vertical Farming Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “UAE Vertical
Farming Market – By Region, Competition, Forecast and Opportunities, 2018-2028F”,
the UAE Vertical Farming Market stood at USD36.25 million in 2022 and is
anticipated to grow with a CAGR of 4.05% in the forecast period, 2023-2028. The
initiatives taken by government based on vertical farming has led to favorable
market conditions for the UAE Vertical Farming Market. Several factors
contribute to the growth of various vertical farming market products. The Abu Dhabi Investment Office (ADIO) and
other state entities have made significant investments in the field of vertical
farming, recognizing its potential for sustainable and efficient food production.
As part of these initiatives, the government of Abu Dhabi has recently
announced its support for four vertical farming projects, allocating a fund of
US$100 million to drive innovation and growth in this sector. In line with its
commitment to fostering collaboration between local and international entities,
the UAE government has actively encouraged partnerships in the vertical farming
industry. One notable example is the successful joint venture between Emirates
Flight Catering and Crop One, a leading U.S.-based company specializing in
vertical farming. Together, they have established a cutting-edge vertical farm
that specializes in the production of fresh and nutritious leafy greens,
contributing to the UAE's efforts in promoting food security and
sustainability.
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The rise in
investments in vertical farming is propelled by several factors, one of which
is the growing demand for this innovative agricultural practice. As part of
these investments, substantial funds are allocated to research and development
efforts aimed at continuously improving farming techniques, enhancing crop
variety, and maximizing production efficiency. These advancements in vertical
farming not only contribute to the overall growth of the agricultural sector
but also foster sustainable food production and security in the UAE.
The UAE Vertical
Farming Market is segmented in structure, growth mechanism, regional
distribution, and company. Based on its structure,
the building-based vertical farms segment held the largest share in the market.
Building-based vertical farms offer the advantage of a controlled environment,
which is particularly beneficial in the UAE, a region known for its harsh
climate conditions. These farms utilize advanced technology and innovative
systems to maintain optimal temperature, humidity, and light conditions
throughout the year, completely independent of external weather conditions. By
closely monitoring and regulating these growing conditions, these vertical
farms ensure consistent and ideal conditions for plant growth, resulting in the
production of high-quality and nutritious crops.
Additionally, the controlled environment allows for
year-round cultivation, reducing the reliance on seasonal variations and
ensuring a steady supply of fresh produce regardless of the time of year. With
their ability to overcome the challenges posed by the climate and provide a
sustainable solution for food production, building-based vertical farms are
revolutionizing agriculture in the UAE and beyond.
Based on region, Dubai segment is expected to grow
during the forecast period.
Dubai's vertical farming industry has experienced
significant growth and success, thanks to the establishment of strategic
partnerships with key players in the field. One notable example is Bustanica,
which made waves last year with the introduction of its state-of-the-art
vertical farm in Dubai. This pioneering initiative has quickly become one of
the largest of its kind globally, showcasing Dubai's commitment to innovation
and sustainability. These collaborative efforts between industry leaders and innovative
startups are not only driving technological advancements but also fostering
continuous growth and development in the vertical farming sector. The future
looks promising as Dubai continues to pave the way for cutting-edge
agricultural practices that address the challenges of food security and
environmental sustainability.
Major companies operating in UAE Vertical Farming
Market are:
- AS Agri and Aqua LLP
- Madar Farms
- GreenFactory Emirates
- UNS Vertical Farms
- AeroFarms AgX LTD
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“Growing application of vertical farming in various
end user industries are key drivers of the vertical farming market. Growth in competitive
landscape and presence of well-established companies in the market who are
dedicated to enhance their productivity of vertical farming with every passing
year are anticipated to register an impressive growth to UAE Vertical Farming
Market in the forecast period.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Vertical Farming Market By Structure (Building-Based
Vertical Farms, Shipping Container Vertical Farms), By Growth Mechanism (Hydroponics,
Aeroponics, Aquaponics), By Region, By
Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of UAE 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 UAE Vertical Farming Market.
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