Press release
Vertical Farming Market Will Grow at a Healthy CAGR by 2026 Profiling American Hydroponics, General Hydroponics, Mirai, AeroFarms, Philips Benelux, Freight Farms, BrightFarms
Vertical Farming Market
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. American Hydroponics
2. General Hydroponics
3. Mirai
4. AeroFarms
5. Philips Benelux
6. Freight Farms
7. BrightFarms
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.
Amid robust prevalence of indoor farming, outdoor farming demand is also projected to surge for it notably uses hydroponics technique. The modern technology helps plant grow without soil and uses subtle 10% of the water for growing plants. When it comes to indoor farming, innocuous innovation like LED bulbs have helped make indoor farms economically viable by dramatically reducing heat waste and propelling energy efficiency. Moreover, artificially created temperatures and light have allowed crops to grow year-round. The breakthrough of indoor and outdoor farming is slated to fuel vertical farming market revenue.
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. Vertical farming market to blossom into a leading global industry by doing away with hostile weather condition and saving water.
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VERTICAL FARMING BUSINESS
Farming in urban areas has become quite difficult due to the rising population, limited space, a fast pace of living, etc. which are driving the new technologies for cultivating the agricultural produce. Vertical Farming is one of the modern and advanced technologies which helps in growing more food in smaller spaces, offering an opportunity for growing fruits and vegetables in a controlled environment in metropolitan areas.
Vertically grown crops require minimum…
