South America Vertical Farming Crops Market Forecast to 2028 - COVID-19 Impact and Analysis - Crop Type (Tomato, Leafy Greens, Herbs, and Others), End-Use (Food Retail, and Food Service), and Farming Technique (Hydroponics, Aeroponics, and Aquaponics)

South America Vertical Farming Crops Market Forecast to 2028 - COVID-19 Impact and Analysis - Crop Type (Tomato, Leafy Greens, Herbs, and Others), End-Use (Food Retail, and Food Service), and Farming Technique (Hydroponics, Aeroponics, and Aquaponics)

The vertical farming crops market in South America is expected to grow from US$ 31.94 million in 2021 to US$ 11.43 million by 2028; it is estimated to grow at a CAGR of 15.8% from 2021 to 2028.

Vertical farming is a massively promising agricultural technique that aims to produce more food to meet the growing population. Vertical farming includes growing crops in vertical frames or high-rise farms, saving ground space while relocating farms into urban areas, and producing nutritious crops without topsoil. The rising demand for organic food among the population triggers market growth. High usage of synthetic chemical fertilizers and pesticides in food products often leads to several health issues, including cancer, obesity, and other congenital disabilities. These factors are driving the consumers' inclination toward locally grown organic produce. Furthermore, due to the increasing focus on health and nutrition, consumers' demand for pesticide-free food products has grown exponentially. This, in turn, is fueling the demand for vertically farmed crops as they are cultivated with extreme hygiene, free of pesticides, and delivered to the retail stores within hours of harvest. Furthermore, especially in metropolitan areas, consumers are becoming more conscious about the techniques used for growing the crops and prefer food free from chemical pesticides and genetically modified organisms, thereby driving the demand for vertical farming crops across the region. Moreover, the essential nutrients in fruits and vegetables are reduced considerably during import and export. Also, most conventionally grown produce is sprayed with pesticides and fungicides. These factors drive the consumers’ inclination toward locally grown produce free from chemical fertilizers and pesticides. Besides, the food produced in vertical farms is fresh, local, suitable for environmental air quality, and pesticide-free. Therefore, the rise in demand for fresh, pesticide-free, and locally grown produce will provide huge market opportunities over the projected period.

Brazil had the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina. South America's government had taken an array of actions to protect its citizens against the COVID-19 spread. South America faced lower export revenues, both from the drop-in commodity prices and reduction in export volumes, especially to China, Europe, and the U.S, which are important trade partners. In several South American countries, containment measures reduced economic activity in the agriculture sector for at least the next quarter. However, the players in the area come up with opportunities. For instance, to respond to the COVID-19 pandemic, Pink Farms shifted its sales online and developed a new product line, microgreens, early-harvest leaf vegetables packed with nutrients and flavor. Pink Farms is the first vertical farm in Sao Paulo, Brazil. Such strategies are projected to uplift market growth in the coming years.

Vendors attract new customers and expand their footprints in emerging markets with the new features and technologies, thereby driving the South America vertical farming crops market. The South America vertical farming crops market is expected to grow at a significant CAGR during the forecast period.

South America Vertical Farming Crops Market Revenue and Forecast to 2028 (US$ Million)

South America Vertical Farming Crops Market Segmentation

South America Vertical Farming Crops Market - By Crop Type

Tomato Leafy Greens Herbs Others South America Vertical Farming Crops Market - By End-Use

Food Service Food Retail South America Vertical Farming Crops Market - By Farming Technique

Hydroponics Aeroponics Aquaponics South America Vertical Farming Crops Market - By Country

Brazil Argentina Rest of SAMSouth America Vertical Farming Crops Market - Companies Mentioned

Aero Farms Crop One Plantlab Gotham Greens

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