North America's population growth creates market opportunities, as population growth necessitates adequate food. Furthermore, as the population grows, land availability is likely to decrease, which will further encourage people to adopt vertical farming, contributing to the growth of the vertical farming market in North America. Furthermore, the presence of various local players boosts the growth of the North American vertical farming market by allowing players to come up with the most recent and innovative farming and productivity ideas. The growing popularity of organic foods and the growing advantage of vertical farming over conventional farming are factors attributed to market growth.
North America Vertical Farming Market Report Scope and Research Methodology:
The report clearly depicts a North America Vertical Farming Market structure, including current market trends and forecasts to identify potential investment areas. It includes a variety of market-influencing factors such as historical data, recent technological advancements, the competitive landscape, and government policy. The North America Vertical Farming Market report informs clients about major drivers, restraints, challenges, and opportunities. The market has been divided into three major segments for ease of understanding, and these major segments of the North America Vertical Farming Market have been further divided into various sub-segments. The report also includes a segment-by-segment analysis of the factors influencing market growth, as well as a competitive analysis of major market players based on their expansion plans, product, investments, pricing, and presence in the North America Vertical Farming industry.
The data collected for the North America Vertical Farming Market report using these methods was combined to draw accurate and error-free inferences. Interviews with subject-matter experts, North America Vertical Farming industry participants, high-level executives of key market players, industry consultants, and other experts were conducted as part of the primary research. The PESTLE analysis in the market report aids in the development of company strategies. The North America Vertical Farming Market's strengths and weaknesses were determined using a SWOT analysis.
North America Vertical Farming Market Overview:
The research looks at market growth drivers and challenges, as well as company plans, procedures, and a detailed financial strategy. Customer expectations are met through customization and extensive information about North America Vertical Farming industry potential. The North America Vertical Farming Market research investigates the industry's competitive landscape and key players. Given current industrial conditions, this North America Vertical Farming market study aids in structure planning.
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North America Vertical Farming Market Dynamics:
During COVID19, North America, particularly the United States, saw an unprecedented increase in the number of coronavirus infections, resulting in the shutdown of food and beverage production; other horticultural productions subsequently impacted demand for vertical crops in the first months of 2020. Furthermore, a decrease in overall production activities halted food and beverage production projects, reducing the need for vertical crops. A similar pattern can be seen in other North American countries such as Mexico, Canada, and Panama. These countries, however, are expected to overcome the drop in demand as economic activity begins to accelerate, particularly in early 2021.
North America Vertical Farming Market Segmentation:
The market is divided into two segments based on structure type: building-based vertical farming and shipping container-based vertical farming. Vertical farming in buildings dominated the market in 2020, accounting for 62.2% of the total. Building-based vertical farming is analyzed as having a large market share due to the available space where growers can easily move and monitor the produce, thus offering higher yields than traditional land farming and container-based farming by driving their base segment of the building.
The shipping container-based vertical farming segment, on the other hand, is expected to grow at a CAGR of 23.4% over the forecast period. This is due to the fact that these types of packing containers are less expensive and readily available.
North America Vertical Farming Market Key Players:
Eden Green Technology
Elevate Farms Inc.
iFarm
OSRAM GmbH
Plenty Unlimited Inc.
Agrilution
AeroFarms
North America Vertical Farming Market Regional Insights
The North America Vertical Farming market is divided into five regions: Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. The report forecasts revenue growth in USD terms at the regional and country levels from 2021 to 2029. The report includes a regional analysis with the North America Vertical Farming market size of each region. The countries section of the study looks at a number of market elements that are expected to influence current and future North America Vertical Farming market trends, as well as changes in market rules at the country level. Consumption, production location and amount, import/export analysis, pricing analysis, raw material prices, and upstream and downstream value chain analysis are some of the primary components used to forecast each country's North America Vertical Farming market situation.
Key Questions answered in the North America Vertical Farming Market Report are:
- What are the North America Vertical Farming market segments?
- Which segment in the North America Vertical Farming market is expected to grow rapidly during the forecast period?
- Which are the prominent players in the North America Vertical Farming market?
- What key trends are expected to emerge in the North America Vertical Farming market during the forecast period?
- What was the North America Vertical Farming market size in 2021?
- Which region dominated the North America Vertical Farming market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2027.
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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