Vertical Farming Market, By Growth Mechanism (Aeroponics, Hydroponics, Aquaponics), By Structure (Building-based Vertical Farms, Shipping Container-based Vertical Farms), By component (Lighting, Climate Control, Sensors, Other Components), By Crop (Tomato, Berries, Lettuce and Leafy Vegetables, Pepper, Cucumber, Microgreens, Other Crop Types), and By Geography (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Vertical farming is a growing technique that utilizes a small space to grow multiple crops in one location. The benefits include faster yields, better quality produce, and less water consumption. In addition, vertical farming can help reduce the impact of agricultural land and fuel use. One of the most impressive features of vertical farming is that it is able to grow all types of crops year round. This is not possible with traditional farming, which often requires the crops to be harvested two weeks after being planted. Furthermore, vertical farms are able to recycle water and reuse it as needed.
Market Dynamics:
The vertical farming market is projected to witness a significant growth in the future. It is due to the rise in population and urbanization. In addition to this, the need for organic food and increasing demand for locally grown foods are the major driving forces behind the market growth. Increasing investments in vertical farms are also expected to drive the growth of the industry. Moreover, the increasing trend of nano-farms is also a factor driving growth of the market.
On the other hand, high capital investment and operating cost of vertical farming is expected to hinder the market growth.
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