Asia Pacific Vertical Farming Crops Market Forecast to 2028 - COVID-19 Impact and Analysis - Crop Type (Tomato, Leafy Greens, Herbs, and Others), End-Use (Food Retail, and Food Service), and Farming Technique (Hydroponics, Aeroponics, and Aquaponics)

Asia Pacific Vertical Farming Crops Market Forecast to 2028 - COVID-19 Impact and Analysis - Crop Type (Tomato, Leafy Greens, Herbs, and Others), End-Use (Food Retail, and Food Service), and Farming Technique (Hydroponics, Aeroponics, and Aquaponics)

The vertical farming crops market in Asia Pacific is expected to grow from US$ 41.29 million in 2021 to US$ 200.87 million by 2028; it is estimated to grow at a CAGR of 25.4% from 2021 to 2028.

In recent years, a new urban environment in metropolitan areas emerged. It is estimated that more than five billion people will be located in urban areas by 2030. Many megacities initiated projects to support the new ecosystem services in providing the most sustainable and efficient food supply solutions and transporting fresh and clean vegetables. One of the most important focus areas is research on energy sustainability, including optimizing energy efficiency to meet citizens' and companies' needs. Indoor urban vertical farming (IUVF) is one of the most outstanding achievements in agriculture, as it is entirely focused on meeting the food needs of people living in urban areas with the lowest environmental and energy costs. IUVF creates a new foundation in the urban food production system, providing opportunities for other sustainable activities, such as energy and greywater recycling. IVUF also helps citizens access fresh and nutritious fruits and vegetables and become more creative, building up their skills regarding sustainable food production. Vertical farming is gaining importance throughout several urban cities worldwide due to its beneficial role in agriculture. Vertical farming also reduces transportation costs as the farms are located adjacent to the distribution sites. Planned production of crops and their growing conditions can be enhanced by adjusting the temperature, humidity, and lighting conditions. Thus, this has increased the popularity of vertical farming across urban areas and metro cities, which is expected to open lucrative growth opportunities in future years.

The COVID-19 pandemic severely impacted Asia-Pacific economies, including China, India, Japan, and South Korea. Due to labor shortage and supply chain disruption, many sectors, including the region's food and beverage industry, got adversely affected. However, the COVID-19 outbreak led to several opportunities in the vertical farming industry. The pandemic led to increased interest in urban agriculture. For instance, in February 2020, East Japan Railway Company (JR East) partnered with Infarm to deliver fresh produce grown and harvested in retail stores. Such developments are boosting the market growth even further. Moreover, as the global marketplace is recovering from the losses, the vertical farming market is growing exponentially.

Vendors can attract new customers and expand their footprints in emerging markets with the new features and technologies, thereby driving the Asia Pacific vertical farming crops market. The Asia Pacific vertical farming crops market is expected to grow at a significant CAGR during the forecast period.

Asia Pacific Vertical Farming Crops Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Vertical Farming Crops Market Segmentation

Asia Pacific Vertical Farming Crops Market - By Crop Type

Tomato Leafy Greens Herbs Others Asia Pacific Vertical Farming Crops Market - By End-Use

Food Service Food Retail Asia Pacific Vertical Farming Crops Market - By Farming Technique

Hydroponics Aeroponics Aquaponics Asia Pacific Vertical Farming Crops Market - By Country

Australia China India Japan South Korea Rest of APACAsia Pacific Vertical Farming Crops Market - Companies Mentioned

Aero Farms Crop One Plantlab Gotham Greens Infarm MIRAI Co., Ltd.

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