APAC Vertical Farming market poised for 43% growth

Recent Technavio market research analysis predicts that the vertical farming market size will increase by 6.49 billion between 2021 and 2026, growing at a compound annual growth rate CAGR) of 16.55 per cent. APAC is expected to contribute 43 per cent of this market's growth during the projected period. Notably, China and India are the two biggest vertical farming markets in APAC, indicating rapid expansion in this region. The rise in population and decreasing availability of arable land over the projected period are driving factors behind the growth of the vertical farming market in APAC. Let's examine how this innovative farming trend is being adopted and implemented across the APAC region.

- Shraddha Warde 

Vertical farming, also referred to as indoor farming, is the practice of cultivating plants indoors. It involves using LED illumination and carefully regulated growing and nutrition systems in place of sunlight and rain. Vertical farms, resembling warehouses with tall shelving units, utilise automation to monitor crops and establish ideal growing conditions, employing technologies such as software, robotics, and data science to control temperature, humidity, CO2, and light.

Vertical farms offer numerous environmental benefits, eliminating the need for pesticides and reducing reliance on weather conditions, enabling year-round production of fresh produce.

In Asia, countries like Japan, China, Singapore, UAE, South Korea, Taiwan, and Thailand have embraced vertical farming technology. Within the Asia-Pacific region, there are several major players in the vertical farming industry, including Signify Holding, CubicFarm Systems Corp., InFarm, Gills N Claws Pte Ltd., Sky Greens, SPREAD Co., Ltd., Triton Foodworks, SANANBIO, EVERLIGHT, OSRAM GmbH, Valoya, Heliospectra AB, Jain Irrigation Systems Ltd., Glenorie Hydroponics, and Sino Opto Technology Co., Ltd.

An Australian company, Eden Towers, and Holland Bio Products have come together with an ambitious plan to establish 50 micro farms across Asia. These micro farms will operate on a small footprint and produce more than 200 tonnes of crops per year. The aim is to achieve cost-effectiveness in light of the socioeconomic conditions in each country.

Collaborating as partners, both companies have developed a unique concept called “vertical farm in a box.” This initiative aims to provide new farmers with free access to the required technology, inputs, and operations support.