The global vertical farming market is expected to reach a high CAGR of 24.6% during the forecast period (2021-2028).
– DataM intelligence
CLEVELAND, OHIO, December 3, 2021 /EINPresswire.com/ –
The reduction in arable land and the depletion of natural resources motivate the cultivation groups to use powerful cultivation methods that comply with the âlaw of the minimumâ. Vertical farming, which involves the controlled production of vegetation in more than one vertical layer structure, including controlled environment buildings, repurposed warehouses, enlargement chambers, and shipping containers designed in response. Important benefits associated with vertical farming include less farm runoff, optimized power consumption, minimal operating costs, and low fees for hard work. The use of innovative irrigation systems and lighting strategies enables vertical farming to support meal production throughout the year.
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The increasing call for precision agriculture, thanks to decreasing arable land and other vegetable resources, is the main factor behind the boom in the vertical agriculture market. The growing population around the world is increasing the cry for meals. However, due to elements such as urbanization, soil erosion, and over-cultivation, the space of cultivable land is decreasing worldwide. This contributes to the need for sustainable farming practices that produce greater yields with minimal use. Vertical farming has developed as an effective alternative to traditional cultivation methods due to its excessive productivity with minimal input. Vertical farms use 90% less water and produce low CO2 emissions compared to conventional agriculture.
Minimal food transport and better crop yields led to accelerated acceptance due to the commitment of the farmers in the neighborhood to sustainable agricultural technologies. The growing call from patrons for organic meals and related skills practiced in vertical farming is also contributing to the growth of the global vertical farming market. These vertical cultivation methods limit the use of synthetic insecticides, growth hormones and antibiotics so that the product meets the natural requirements. According to the Organic Industry Survey conducted by the Organic Trade Association in May 2018, annual sales of organic food in the United States rose from $ 45.2 billion in 2017 to $ 47.9 billion in Year 2018. Advances in statistical technology along with IoT, Artificial Intelligence and Big Data use vertical agriculture methods. The use of this technology enables the short streak of world-class records in terms of plant growth, which enables growers to efficiently manage the operation.
The high power consumption associated with vertical agriculture and the excessive production costs compared to conventional agriculture are slowing the boom in the global market for vertical agriculture.
According to technology
By distribution channel
ï¬Fruits & vegetables
Middle East and Africa
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The market is expected to see large investments by venture capitalists in innovative startups based on vertical farming. Growing demand for sustainable farming techniques and increased funding from government organizations for sustainable farming practices is expected to encourage the establishment of new vertical farms around the world.
Major players in the global Vertical Agriculture Market include AeroFarms LLC, Plenty Unlimited Inc, Green Spirit Farms LLC, and Bowery Farming Inc.
The global vertical farming market is seeing new farms in developing countries to meet consumer demand for fresh and organic food. For example,
In January 2019, Local Grown Salads Indoor Vertical Farms launched in opportunity zones in Baltimore, Washington DC and Nashville. Locally grown salads offer ready-to-eat salads, ready-to-use herbs and vegetables that are organic, GMO-free, herbicide-free and insecticide-free.
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