Middle East & Africa Vertical Farming Market Size & Outlook
Middle East & Africa vertical farming market, 2018-2030 (US$M)
Related Markets
MEA vertical farming market highlights
- The MEA vertical farming market generated a revenue of USD 442.1 million in 2023.
- The market is expected to grow at a CAGR of 17.5% from 2024 to 2030.
- In terms of segment, fruits vegetables, & herbs was the largest revenue generating crop category in 2023.
- Fruits Vegetables, & Herbs is the most lucrative crop category segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2023 | USD 442.1 million |
| Market revenue in 2030 | USD 1,369.2 million |
| Growth rate | 17.5% (CAGR from 2023 to 2030) |
| Largest segment | Fruits vegetables, & herbs |
| Fastest growing segment | Fruits Vegetables, & Herbs |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Fruits Vegetables, & Herbs, Flowers & Ornamentals |
| Key market players worldwide | AeroFarms, Illumitex, Everlight Electronics, Agrilution, American Clay Works & Supply Company, Freight Farms, GrowUp Farms, Green Sense Farms, Vertical Farm Systems |
Other key industry trends
- In terms of revenue, MEA region accounted for 7.6% of the global vertical farming market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 7,044.2 million by 2030.
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Vertical Farming Market Scope
Vertical Farming Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Middle East & Africa vertical farming market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to vertical farming market will help companies and investors design strategic landscapes.
Fruits vegetables, & herbs was the largest segment with a revenue share of 66.12% in 2023. Horizon Databook has segmented the Middle East & Africa vertical farming market based on fruits vegetables, & herbs, flowers & ornamentals covering the revenue growth of each sub-segment from 2018 to 2030.
The African market is expected to experience growth due to factors such as the increasing urban population and the commercialization of vertical farming. However, a lack of financial resources to build modern vertical farms and limited access to water and land are expected to restrain the market growth.
The growth of the agritech sector in Israel can be attributed to the constant government support and the STEM education program in the country. With a large pool of affordable and highly skilled labor force, the region has created a significant export industry and can efficiently address its agricultural challenges.
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Our clientele includes a mix of vertical farming market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa vertical farming market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa vertical farming market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa Vertical Farming Market Outlook Share, 2023 & 2030 (US$M)
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