Vertical Farming Market Analysis by Regions, Types, Applications and Key
The global vertical farming market size was valued at USD 3.89 billion in 2020. It is anticipated to
expand at a compound annual growth rate (CAGR) of 23.6% over the forecast period. This is
attributed to the growing adoption of environment-friendly production of fruits and vegetables. The
unprecedented growth of the global population has increased the demand for urban agriculture.
Vertical farming is the practice of producing food in a vertically stacked-layer such as a used
warehouse, skyscraper, or shipping container. Organic foods are perceived as healthier, nutritious,
safer, and more environmentally friendly.
Unlike traditional farming, indoor farming can produce crops throughout the year, which results in
increased productivity. Furthermore, indoor farming can protect crops from extreme weather
conditions through the usage of techniques such as controlled environment agriculture technology,
where the facilities use artificial environmental control, control of light, and fertigation.
Key Player Mentioned:
Green Sense Farms, LLC
Everlight Electronics Co., Ltd.
Agrilution Systems GmbH
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Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and
Increasing demand for high-quality food, independent agriculture technique, and growing
urbanization are some of the critical factors responsible for the growth of the vertical farming market.
These factors have increased the requirement for food. Demand for food is expected to witness
significant growth with a growing population by 2028. The adoption of the vertical cultivation
technique allows the consumers to grow crops in a warehouse or a multi-story building.
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