Vertical Farming Market 2020 Industry Share, Trends, Technology Advancements, Regional Demand, Growth Dynamics To 2026 | Key Companies - American Hydroponics, General Hydroponics, Plantagon Companization, Mirai, AeroFarms, ILLUMITEX, INC., Freight Farms,
Amid this scenario, stakeholders expect vertical farming to transpire into a climate-friendly, resource-saving and weather-resistant technology. Prominently, the artificial control of temperature, humidity, light and gases has made producing food indoor conveniently possible.
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The Major Key Players in the Market are as follows:
AeroFarms, Urban Crop Solutions, Indoor Harvest Corporation, Green Sense Farms, Sky Greens, American Hydroponics, Illumitex, Agrilution GmbH, Everlight Electronics Co.,Koninklijke Philips N.V. Ltd, MOFLO Aeroponics, SPREAD Co., Ltd, Mirai Co., Ltd, Freight Farms, BrightFarms Inc, Plantagon International AB, Gills N Claws Pte. Ltd, Alesca Life Technologies, General Hydroponics, Inc, Heliospectra AB, GrowUp Urban Farms Ltd., Ecobain Gardens, Inc.
Engineering the approach of vertical farming to food production would reduce spoilage and world's seemingly damaged ecosystem may be repaired. Stakeholders envisage vertical farming in urban areas to be a norm which would help reverse current trends in global climate change. Accordingly, creation of sustainable urban environment is set to boost vertical farming market. In light of it, stakeholders have upped investments in green infrastructure. Considering these aspects, vertical farming market to exceed US$ 22 bn by 2026.
Technologies that vertical farming often utilize--aeroponics, hydroponics, and aquaponics-- have optimized growth potential of crops. Aeroponics, for instance, provides right amount of water and nutrients, with humidity and temperature fine-tuned. Apparently, aeroponics technology recycles water and nutrients with 0 or minimal waste. As such, aeroponics is anticipated to account for substantial share in vertical farming market.
The most widely discussed upsides of vertical farming has been the technique of helping plant grow without soil. Outdoor vertical farming, for instance, provides year-round production of high value crops with the aid of hydroponic technique that enables plants to receive an optimum supply of nutrients and oxygen. As things pan out, outdoor vertical farming is anticipated to exhibit notable development in the years to come.
Modern agriculture is making exceptional strides in bringing 24/7 cultivation to reality by propelling existing practices with vertical farming. Amid FAO's warning that world would need 50% more food by 2050 to feed the projected population of 9 bn people, Europe is witnessing profound investment in vertical farming.
Vertical farming market trends vouch for Europe to lead from the front as private entities are intrigued to invest in the region in the wake of favorable government steps. For instance, a UK-based e-grocer Ocado has raked in more than US$ 20 mn in indoor vertical farming. This investment is anticipated to help Europe keep up with the ever-increasing food demand and help curb climate change.
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With proliferation in investment and rise in interest in vertical farming, stakeholders are buoyed by the fact that the robust farming offers increased potential to help agriculture achieve sustainability in the economic, environmental and societal landscapes. Further, investments in green infrastructure allude greenhouse gas emissions linked with conventional field agriculture can be reduced. Farmers minimize their geographic footprint to produce more on less land. The vertical farming market to blossom into a leading global industry by doing away with hostile weather condition and saving water.
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