Floating Farm Market Growing at a Robust 14.27% CAGR: MarkNtel Advisors

Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Floating Farm Market, The Global Floating Farm Market is projected to grow at a CAGR of around 14.27% during the forecast period, i.e., 2023-28. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Floating Farm Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook & Forecasts:

Forecast Period: 2023-2028
CAGR (2023-2028): 14.27%

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Global Floating Farm Market Segmentation Breakdown:

The Floating Farm Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:

By Farm Type
- Aquaculture Farm
- Agriculture Farm

Aquaculture farming is anticipated to hold the dominant share in the Global Floating Farm market, as it has the potential to provide a reliable source of protein & other essential nutrients, particularly in areas where traditional farming practices are limited.

By Product Type
- Fruits & Vegetables
- Fish
- Others (Grains, etc.)
By Equipment Type
- Cages
- Harvesting Equipment
- Monitoring System
- Tanks
- Others (Control System, Tarpaulins, etc.)

Of them all, the Harvesting Equipment is projected to lead the Global Floating Farm market, as this equipment helps to ensure that crops are harvested at the optimal time, leading to improved quality & longer shelf life of fruits, vegetables, etc.

By Technology
- Hydroponics
- Aquaponics
- Vertical Farming

Geographical Growth Insights:

By Region

Americas
Europe
The Middle East & Africa
Asia-Pacific

Of all the regions across the globe, Asia-Pacific is anticipated to witness greater adoption of Floating Farm practices because of the limited availability of land & the greater demand for food products due to the high population density in the region.

MarkNtel Advisors Highlights Key Market Drivers for Floating Farm Market:

Increasing Demand for Sustainable Food Production

The soaring global population is leading to escalating the demand for sustainable food around the globe. According to the World Bank, the population is expected to reach around 9.7 billion by 2050, which positively generates the demand for food. Thus, sustainable food production helps to meet this demand while reducing the environmental impact of agriculture. In addition, the rising effect of agriculture on the environment, including soil degradation, water pollution, and greenhouse gas emissions, has become a primary concern. Sustainable farming practices, such as aquaponics & vertical farming, can help to mitigate these impacts.

Henceforth, the surging demand for sustainable food production across the globe is driving the growth of the Floating Farms market as farmers seek out new & innovative ways to produce food that is environmentally friendly, healthy, and economically viable. Furthermore, in the coming years, several other countries are expected to adopt these farm practices for the purpose of vegetable & fruit plantations, growing seafood, and many other purposes, which is presumed to have a positive impact on the market during 2023-28.

A Comprehensive Analysis of Leading Companies in Global Floating Farm Market

AgriSea
Singapore Aquaculture Technologies
Lingalaks AS
SalMar ASA
Saudi Basic Industries Corporation
N-ARK Co. Ltd.
Ocean Arks Tech
AI Qamra holding
Bangladesh Agricultural Research Institute (BARI)
Others

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Global Floating Farm Market Recent Developments

In February 2022, Brigade Electronics Group PLC announced the launch of a new AI (Artificial Intelligence) based commercial vehicle safety system CAREYE- “Safety Angle Turning Assistant” in countries across Europe, such as the U.K., France, Poland, and the Netherlands.
In September 2021, Gentex Corporation announced the acquisition of Guardian Optical Technologies. This Israel-based startup pioneered a unique, multi-modal sensor technology designed to provide a comprehensive suite of automotive driver and cabin monitoring solutions.

Global Floating Farm Market Growth Opportunity:

Ability to Cultivate Specialized Crops to lead to Greater Adoption of Floating Farms

The concept of Floating Farms allows the producers to grow a variety of crops that could not be grown on natural land. As these farm platforms are created artificially, they can easily be modified as per the requirement of the plant or crop without hampering the natural composition of the land, thereby allowing farmers to grow different varieties of crops & fruits on the same farm.

These farms enable the growth of various types of sea foods such as seaweeds, shrimp, finfish, etc., as these farms hold the potential to grow regular water-intensive crops such as rice, pulses, and others, in addition to specialized crops like seaweeds. The capability to grow multiple crops is anticipated to enhance the adoption of Floating Farm practices among farmers, as they can generate more revenue by diversifying crop production. Thus, the ability to grow conventional & specialized crops on the same farm is emerging as an opportunity for market growth during 2023-28.

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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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