BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expectsSaudi Arabia Vertical Farming Marketsize to grow at a robust CAGR of 26.7% during the forecast period between 2022 and 2028. Saudi Arabia vertical farming market expansion is driven by rising awareness of using innovative technology and equipment in agriculture. Vertical farming is the practice of producing crops in layers that are piled vertically. During the production phase, its controlled-environment agriculture promotes soilless farming techniques, such as hydroponics, aeroponics, and aquaponics. Vertical farming allows farmers to control temperature, nutrients, humidity, and light throughout the year, producing nutrient-dense greens with high quality and volume. Furthermore, it enables tiny plots of land to be used more efficiently for increased yield. However, due to farming of limited variety crops, high initial expenditure, and minimal knowledge about its benefits may restrain the growth of vertical farming market in Saudi Arabia during the forecast period.
Saudi Arabia Vertical Farming Market – Overview
The environment is harmed by rising pollution levels because of increased industrialization and urbanization, as well as hazardous emissions from automobiles. Agricultural production benefits from the use of cleanroom technology, which includes enhanced air and water filtration and disinfection. Vertical farming uses advanced technologies to avoid pesticides, making it very popular among farmers. The government is encouraging the use of vertical farming systems to ensure consistent food production all year round, regardless of weather conditions. Vertical farming accelerated the use of land for agricultural output while minimizing the use of water, reducing waste. It necessitates the use of little chemicals or pesticides. Vertical farming eliminates the requirement for long-distance transportation of vital food items. It allows consumers to cultivate their own crops closer to their homes, lowering shipping expenses.
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Saudi Arabia Vertical Farming Market – Technology Advancements
The agriculture industry is regarded as critical to the country’s economic development. Agriculture necessitates the usage of a huge amount of fresh groundwater, which does not regenerate itself. Saudi Arabia has a sultry and arid climate with limited rainfall and relies heavily on fruit and vegetable imports from other countries. In the next five years, demand for Saudi Arabia Vertical Farming could be fueled by the adoption of advanced farming techniques and equipment to enhance agriculture yield and properly utilize water resources. The commitment of significant funding for the development of agriculture as a source of revenue other than the oil and gas industry is predicted to increase market growth over the next five years. Saudi Arabia’s agricultural business is growing thanks to the necessity to focus on food security and initiatives taken to promote agriculture and preserve water.
Impact of COVID-19 on Saudi Arabia Vertical Farming Market
Following the global supply chain disruptions caused by the COVID-19 pandemic, the Kingdom is turning its focus to more local investments aimed at strengthening agricultural value chain management through digitalization and process modernization. While the pandemic was a significant problem, it sparked a reconsideration of agricultural practices that could help Saudi Arabia’s farmers look for alternate farming methods, including vertical farming. Despite being one of the world’s most food-secure regions in terms of food availability, price, quality, and safety, the Gulf Cooperation Council (GCC) lacks control over its food sources and is heavily reliant on imports. The interruptions to global supply chains in 2020 led the region to reassess its own agriculture strengths and vulnerabilities to avoid food shortages. Saudi Arabia is implementing long-term initiatives aimed at restructuring food supply networks and protecting food imports from future shocks. It is no wonder, then, that the government has been planning to defend itself against worldwide disturbances for quite some time.
Competitive Landscape
4D Bios Inc., AeroFarms, Agrilution, AMHYDRO (American Hydroponics), Everlight Electronics Co., LtdHort Americas, Illumitex IncKoninklijke Philips N.V., Urban Crop Solutions, and Sky Greens are some of the main players in Saudi Arabia vertical farming market. To gain a foothold in the vertical farming market, companies have used a variety of strategies, including product launches, collaboration and partnerships, joint ventures, and acquisitions.
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