Food Retail segment to dominate the Europe Vertical Farming Crops Market during 2020–2028
According to The Insight Partners market research study on “Europe 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$ 360.16 million by 2028 from US$ 115.38 million in 2021. The market is estimated to grow at a CAGR of 17.7% from 2021 to 2028. The report provides trends prevailing in the Europe vertical farming crops market along with the drivers and restraints pertaining to the market growth. AI-controlled vertical farms, boosting demand for vertical farming in highly populated urban countries, and smaller availability of arable land for conventional agriculture are the major factor driving the growth of the Europe vertical farming crops market. However, exorbitant initial investment hinders the growth of Europe vertical farming crops market.
The coronavirus pandemic has been a significant worry for many European farmers, threatening agricultural labor access and complicating international supply chains. But for proponents of indoor farming, the crisis has offered an opportunity. The pandemic has prompted a spike in interest in ‘vertical farms’, where batches of crops can be individually watered, fed, and lit using LED lights, allowing them to be grown year-round with minimal labor requirements. With COVID-19 outbreak, people are focused on healthy lifestyles and focused on more sustainable plant-based diets. Vertical farming crops market is expected to be benefitted by the outbreak of the COVID-19 pandemic.
The Europe 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 Germany, the UK, France, Italy, Russia, and Rest of Europe. In 2020, Rest of Europe held the largest share in the market, and France is expected to be the fastest growing country during the forecast period.
AeroFarms, CropOne, Plantlab, Gotham Greens, Agricool, and Infarm are among the leading companies in the Europe 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, Bowery Farming Launched New Product Category, Farmer’s Selection, With Release of Mustard Frills.
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