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The growing vertical demand for organic foods and foods free of pesticides and genetically modified organisms is the primary driver of the European Vertical Agricultural Market (GMOs). The ability of artificial lighting to improve plant yield, health, and growth, as well as less reliance on weather for production, are driving the market from the producer side. Another major driver of market growth is the increase in biopharmaceutical production. With the introduction of vertical farming, Europe has grown in popularity. Europe is a developing market where advanced technology is being developed. Vertical farming is the processing of food in vertically stacked layers such as skyscrapers, used factories, and shipping containers.
Europe Vertical Farming Market Report Scope and Research Methodology:
The report clearly depicts a Europe 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 Europe 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 Europe 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 Europe Vertical Farming industry.
The data collected for the Europe Vertical Farming Market report using these methods was combined to draw accurate and error-free inferences. Interviews with subject-matter experts, Europe 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 Europe Vertical Farming Market's strengths and weaknesses were determined using a SWOT analysis.
Europe 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 Europe Vertical Farming industry potential. The Europe Vertical Farming Market research investigates the industry's competitive landscape and key players. Given current industrial conditions, this Europe Vertical Farming market study aids in structure planning.
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Europe Vertical Farming Market Dynamics:
In the case of COVID19, Europe, particularly France, saw an unprecedented increase in the number of coronavirus cases, resulting in the suspension of food and beverage production. As a result, other horticulture producing segments have wedged the demand for vertical farming crops throughout the early months of 2020. Furthermore, a decline in inclusive manufacturing accomplishments has resulted in the cessation of food and beverage creating developments, resulting in a drop in demand for vertical farming crops. Other European countries, including Russia, the United Kingdom, Italy, and Spain, have seen a similar trend. However, the countries are likely to be surprised by the dribble in demand as financial undertakings resume their pace, particularly in early 2021.
Europe Vertical Farming Market Segmentation:
The market is divided into components such as lighting, sensors, climate control, irrigation, building materials, and others. In 2020, the lighting segment held a 31.2% share of the market. Indoors, fluorescent grow lights are used to grow herbs and vegetables. Fluorescent tubes and compact fluorescent light bulbs are two types (CFL). Fluorescent lamps are available in a range of intensities. Plant factories, vertical farming, and indoor farming, whether fully automated or manual, rely heavily on the ideal LED grow light solution for success. As a technology, it is ideal for the basic needs of multi-layer vertical farming as well as LEDs, which are effectively driving the lighting segment's growth.
The Climate Control segment, on the other hand, is expected to grow at a CAGR of 19.4% during the forecast period. Vertical farming in Europe has the potential to significantly reduce agriculture's environmental impact. It requires less water and land to produce the same or more food. Long transportation routes, as well as the use of chemicals and pesticides, are also eliminated.
Europe Vertical Farming Market Key Players:
AeroFarms
Urban Crops Solutions
Illumitex, Inc.
Koninklijke Philips N.V.
Sky Green Ltd.
Everlight Electronics Co. Ltd.
American Hydroponics
Hort Americas
Agrilution
Green Sense Farms, LLC.
Europe Vertical Farming Market Regional Insights
The Europe 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 Europe 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 Europe 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 Europe Vertical Farming market situation.
Key Questions answered in the Europe Vertical Farming Market Report are:
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