Wilmington, delaware, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Saudi Arabia Vertical Farming Market is estimated at a production level of 459,200 tons in 2023 and is expected to grow at a significant CAGR of over 22.4% over the forecast period of 2023-2030, according to the published market report by RationalStat
Market Definition, Market Scope, and Report Overview
Vertical farming is a modern and innovative agricultural practice that involves growing crops in vertically stacked layers or vertically inclined surfaces, often in controlled environments such as indoor warehouses or high-rise buildings. This method of farming represents a departure from traditional horizontal farming, where crops are grown in open fields.
Strong government support, and reliance on imported food, among others, play a key role in supporting the expansion of the vertical farming market. In addition, Vertical farming allows for continuous crop production, eliminating the seasonality associated with outdoor farming, thus contributing notably to the expansion of the vertical farming market.
- According to a deep-dive market assessment by RationalStat, the Saudi Arabia vertical farming market has been analyzed on the basis of market segments, including growing systems, structure, components, farm size, and crop type. The report also offers Saudi Arabia and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the Saudi Arabia vertical farming market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the Saudi Arabia vertical farming market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Saudi Arabia Vertical Farming Market: Segmental and Market Share Analysis
- On the basis of growing systems, the market is sub-segmented into hydroponics, aeroponics, and aquaponics.
- On the basis of structure, container and buildings type are expected to hold a major share in the Saudi Arabia vertical farming market.
- On the basis of component, hardware sub-segment is expected to take up the major chunk of the Saudi Arabia vertical farming market.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | 459,200 Tons |
| Market Size Forecast | 1,891,200 Tons |
| Growth Rate | 22.4% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the Saudi Arabia vertical farming market include,
- In February 2023, AeroFarms and Public Investment Fund, Saudi Arabia entered into an agreement to form a joint venture. The joint venture focuses on building indoor vertical farms in Saudi Arabia and MENA region.
Some of the prominent players and suppliers operating and contributing significantly to the Saudi Arabia vertical farming market growth include iFarm, BADIA FARMS, Mishkat Agri Co Saudi Arabia,Mowreq, AeroFarms, and Signify Holding, among others.
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RationalStat has segmented the Saudi Arabia vertical farming market based on growing systems, structure, components, farm size, and crop type
- Saudi Arabia Vertical Farming Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Growing Systems
- Hydroponics
- Aeroponics
- Aquaponics
- Saudi Arabia Vertical Farming Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Structure
- Underground
- Shipping-Container
- Buildings
- Farms
- Saudi Arabia Vertical Farming Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Component
- Hardware
- Software
- Saudi Arabia Vertical Farming Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Farm Size
- Small & Medium
- Large
- Saudi Arabia Vertical Farming Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Crop Type
- Herbs
- Fruits
- Vegetables
- Others
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Key Questions Answered in the Vertical Farming Report:
- What will be the market value of the Saudi Arabia vertical farming market by 2030?
- What is the market size of the Saudi Arabia vertical farming market?
- What are the market drivers of the Saudi Arabia vertical farming market?
- What are the key trends in the Saudi Arabia vertical farming market?
- Which is the leading region in the Saudi Arabia vertical farming market?
- What are the major companies operating in the Saudi Arabia vertical farming market?
- What are the market shares by key segments in the Saudi Arabia vertical farming market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end Saudi Arabia market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support Saudi Arabia and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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