Egypt Vertical Farming Market By Structure (Building-Based Vertical Farms, Shipping Container Vertical Farms), By Growth Mechanism (Hydroponics, Aeroponics, Aquaponics), By Application (Indoor, Outdoor), By Region, Competition, Forecast & Opportunities, 2018-2028F
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Agriculture | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationEgypt Vertical Farming Market By Structure (Building-Based Vertical Farms, Shipping Container Vertical Farms), By Growth Mechanism (Hydroponics, Aeroponics, Aquaponics), By Application (Indoor, Outdoor), By Region, Competition, Forecast & Opportunities, 2018-2028F
In 2020, the vertical farming market reached some USD 5.3 billion, but the market value is expected to increase to about USD 19.6 billion by 2026.
Vertical farming is a method of growing crops in vertically stacked layers, utilizing indoor farming techniques such as hydroponics, aeroponics, and aquaponics. The practice of vertical farming has been gaining popularity in recent years as a solution to the challenges of traditional agriculture, such as land scarcity, water usage, and climate change. Vertical farming offers numerous advantages over traditional farming practices. One of the most significant advantages is the ability to grow crops in areas where traditional farming is impossible, such as in urban areas where space is limited. This is because vertical farming utilizes a small footprint, allowing for multiple layers of crops to be grown in a single building. Additionally, vertical farming systems can be designed to use less water than traditional farming, making it a more sustainable option.
There are several types of vertical farming systems, including hydroponic, aeroponic, and aquaponic systems. Hydroponic systems grow crops in nutrient-rich water without soil, while aeroponic systems grow plants in a mist environment, using minimal water. Aquaponic systems combine fish farming with hydroponic farming, using the waste from the fish to fertilize the plants. Each system has its advantages and disadvantages, and farmers must choose the best system for their needs. The benefits of vertical farming are not limited to food production. Vertical farming can also be used to grow plants for medicinal purposes, such as cannabis, which requires a controlled environment to thrive. Additionally, vertical farming can be used to grow ornamental plants and flowers, providing a source of income for urban farmers. Vertical farming offers a promising solution to the challenges facing traditional agriculture. With its ability to produce crops in areas where traditional farming is impossible, reduce water usage, and provide a more sustainable food source, vertical farming is an attractive option for farmers and consumers alike. While there are still challenges to overcome, advances in technology and increased demand for sustainable food production is likely drive the growth of vertical farming in the years to come.
Egypt has been an agricultural hub for centuries, with the Nile River and fertile land supporting traditional farming practices. However, in recent years, the country has faced challenges such as land scarcity, water shortages, and a rapidly growing population, leading to a need for more sustainable and efficient farming methods. Vertical farming has emerged as a potential solution, and the Egyptian vertical farming market is growing. Vertical farming in Egypt is still in its early stages, with only a few established players in the market. However, the potential for growth is significant, with the country's favorable climate and abundant sunlight providing ideal conditions for year-round crop production.
Download Free Sample Report Increasing Demand for Locally Grown Products are Driving Market Growth
Traditional farming practices require vast amounts of land, water, and other resources, which are becoming increasingly scarce in Egypt. Vertical farming provides a solution to these challenges by allowing for the cultivation of crops in a controlled environment, using less land and water. This results in higher crop yields and more efficient use of resources, making vertical farming a more sustainable and cost-effective option.
Another growth driver for the Egyptian vertical farming market is the increasing demand for fresh and locally grown produce. As the population grows and becomes more urbanized, the demand for fresh and healthy food is increasing. Vertical farming provides an opportunity to grow fresh produce in urban areas, reducing the need for transportation and storage, and allowing for more timely delivery of fresh produce to consumers.
Technological Advancement in the Industry is Driving Market Growth
Government support is another significant growth driver for the Egyptian vertical farming market. In recent years, the government has recognized the potential of vertical farming and has taken steps to support its growth. This includes providing financial incentives for entrepreneurs to establish vertical farms, such as tax breaks and low-interest loans. The government has also announced plans to convert barren land into agricultural areas using modern farming techniques, including vertical farming.
Technological advancements are also driving the growth of the Egyptian vertical farming market. Advances in lighting, climate control, and automation technology have made vertical farming more efficient and cost-effective than ever before. This has led to a reduction in the cost of setting up and operating vertical farms, making it more accessible to entrepreneurs and small-scale farmers.
The growth of the Egyptian vertical farming market is also being driven by potential for job creation and economic growth. As the market grows, it is expected to create jobs in various areas, such as research and development, production, and distribution. Additionally, the production of fresh and locally grown produce can help to boost the country's economy by reducing the need for imports and increasing exports.
Major Challenges faced by Vertical Farming Market
One of the most significant challenges facing the Egyptian vertical farming market is the high setup costs. The initial investment required to establish a vertical farm can be significant, particularly for small-scale farmers and entrepreneurs. This includes the cost of equipment, such as lighting and irrigation systems, as well as the cost of constructing the vertical farm itself. While the long-term benefits of vertical farming, such as increased crop yields and reduced resource usage, can offset these costs, the high initial investment can be a barrier to entry for many farmers.
Another challenge facing the Egyptian vertical farming market is the limited availability of skilled labor. Vertical farming requires specialized knowledge and skills, such as plant biology, engineering, and data analysis. However, there is a shortage of professionals with these skills in Egypt, which can make it challenging for farmers to find qualified staff to operate and manage their vertical farms.
Access to financing is also a challenge facing the Egyptian vertical farming market. While the government has announced plans to support the growth of vertical farming in the country, access to financing remains a challenge for many farmers and entrepreneurs. This includes the cost of equipment and construction, as well as ongoing operational costs. Limited access to financing can make it challenging for farmers to establish and operate vertical farms, particularly for small-scale farmers and entrepreneurs.
Infrastructure challenges are another significant challenge facing the Egyptian vertical farming market. While vertical farming can be done in urban areas, the infrastructure needed to support vertical farms, such as reliable electricity and water supply, is not always found at. Additionally, the transportation infrastructure needed to deliver fresh produce from vertical farms to markets and consumers can be inadequate, resulting in higher transportation costs and longer delivery times.
Recent Trends and Developments
- The vertical
farming industry in Egypt has seen significant technological advancements in
recent years, particularly in the areas of lighting and automation. LED
lighting systems have become more efficient and cost-effective, making it
easier for farmers to control the growth of crops. Automation technology, such
as robotic arms, has also made it easier to manage and maintain vertical farms,
reducing labor costs.
- Several academic
institutions in Egypt have established partnerships with vertical farming companies
to support research and development in the field. For example, the American
University in Cairo has established a partnership with an Egyptian vertical
farming company to study the impact of vertical farming on the environment and
its potential for sustainable food production.
- Over the past
three years, there has been an increase in consumer awareness of the benefits
of locally grown produce, driving demand for vertical farming products. Vertical
farming companies have responded to this demand by increasing their production
and expanding their product lines to include a wider range of fruits and
vegetables.
Market Segmentation
Egypt Vertical Farming market
Market Players
iGrow, InnoTech Egypt, Grorite, Babilon Greens, Green Giza, Valoreo Egypt, Future Farms, Smart Greens Egypt, AeroFarms, Fargreen
|
Attribute |
Details |
|
Base Year |
2022 |
|
Historic Data |
2018 – 2021 |
|
Estimated
Year |
2023 |
|
Forecast Period |
2024 – 2028 |
|
Quantitative
Units |
Revenue
in USD Million, Volume in Units, and CAGR for 2018-2022 and 2023-2028 |
|
Report
coverage |
Revenue
forecast, volume forecast, company share, competitive landscape, growth
factors, and trends |
|
Segments
covered |
Structure Growth
Mechanism Application |
|
Regional
scope |
Cairo,
Alexandria, Giza, Qalyubia, Port Said, Suez, and Rest of Egypt |
|
Key companies
profiled |
iGrow,
InnoTech Egypt, Grorite, Babilon Greens, Green Giza, Valoreo Egypt,
Future Farms, Smart Greens Egypt, AeroFarms,
Fargreen |
|
Customization
scope |
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope. |
|
Pricing and
purchase options |
Avail
customized purchase options to meet your exact research needs. Explore
purchase options |
|
Delivery Format |
PDF and Excel through Email (We can also provide the editable version
of the report in PPT/Word format on special request) |
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