Market Size of Middle East Vertical Farming Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 14.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Middle East Vertical Farming Market Analysis
The vertical farming market in the Middle East is projected to register a CAGR of 14.2% over the forecast period.
- The Middle East region is one of the most prominent regions in the world which are highly suitable for the development of vertical farms due to water scarcity, less arable land, and higher dependency on imports for food requirements. Governments in the Middle East have envisaged themselves with plans to reduce dependency on imports, due to which vertical farming business in the region has been experiencing a high growth rate.
- Factors like increased food security investments, vertical farming use in production and delivery, and public-private sector collaborations have contributed to the region's growth. The sector has been complementing various supply chain stores and creating numerous opportunities, from research to automation.
- Factors such as climate change, water shortages, and less arable land make it the best prospective market for vertical farming firms. Oil-rich countries have already seen increased market penetration of vertical farms, which is being encouraged by various government initiatives to achieve food security.
- Furthermore, investment and advancements in the vertical farming sector using hydroponic, aquaponic, and aeroponic vertical farming are also expected to improve the region's food industries, hotels, restaurants, and cafe enterprises. It will help reduce water consumption and the economic and environmental effects of food imports.
