Vertical Farming Market is expected to reach US$ 19,864.8 million by 2028

According to the new research report published by The Insight Partners, titled "Vertical Farming Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Growth Mechanism and Component," the market is projected to reach US$ 19,864.8 million by 2028 from US$ 4,300.2 million in 2021; it is estimated to grow at a CAGR of 24.4% from 2021 to 2028. Benefits of Vertical Farming Compared to Conventional Farming to Provide Growth Opportunities for Vertical Farming Market During 2021-2028

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis - https://www.theinsightpartners.com/sample/TIPRE00007018/?utm_source=OpenPR&utm_medium=10593

Over the years, the vertical farming market has picked up significant momentum. The rising awareness pertaining to the benefits of vertical farming is a key factor driving this growth. Since vertical farming is independent of weather, it allows farmers to achieve a consistent annual crop production without having to worry about adverse weather conditions. Moreover, it enables them to yield more in a small area. Compared to conventional farming, vertical farming yields ~240-times greater while requiring 99% less land and 98% less water. The emergence of next-generation, AI-powered vertical farming technologies that can help reduce the consumption of land and water further is boosting the growth of this market substantially. Moreover, increasing demand for sustainable agricultural ecosystems will continue to boost the demand for vertical farming in the coming years. Technological advancements have enabled the use of controlled environmental resources and agriculturally unsuitable sites, mainly skyscrapers, shipping containers, and vacant warehouses. Ascending focus on recapturing evaporated water and recycling products, in a bid to reduce wastage, is also projected to augment the vertical farming market proliferation in the coming years.

The vertical farming market is experiencing significant traction across the world due to the mounting demand for food, propelled by the rising global population. Since it uses 90% less water, requires less space, and yields more crops in shorter periods, compared to conventional farming, its demand is increasing at a significant rate. In this technique, the cultivation of fruits and vegetables is not restricted to seasonal cycles, as the requisite atmospheric conditions can be created at farming sites. However, the high initial investment cost is a hindrance to the growth trajectory of the vertical farming market. Nevertheless, the increasing demand for organic food, coupled with the rising adoption of veganism across the world, is anticipated to boost the global vertical farming market during the forecast period.

Have a 15-minute-long discussion with the lead analyst and author of the report in a time slot decided by you. You will be briefed about the contents of the report and queries regarding the scope of the document will be addressed as well - https://www.theinsightpartners.com/speak-to-analyst/TIPRE00007018?utm_source=OpenPR&utm_medium=10593

Vertical Farming Market Insights
Benefits of Vertical Farming Over Conventional Farming

The vertical farming market has picked up significant momentum over the years. The rising awareness pertaining to the benefits of vertical farming is a key factor driving this growth. Since vertical farming is independent of weather, it allows farmers to achieve a consistent annual crop production without having to worry about adverse weather conditions. Moreover, it enables them to yield more in a small area. Compared to conventional farming, vertical farming yields ~240-times greater while requiring 99% less land and 98% less water. The emergence of next-generation, AI-powered vertical farming technologies that can help reduce the consumption of land and water further is boosting the growth of this market substantially.

The vertical farming market has been segmented as follows:
Vertical Farming Market - by Growth Mechanism
Hydroponics
Aeroponics
Aquaponics

Vertical Farming Market - by Component
Lighting
Sensor
Climate Control
Irrigation Component
Building Material
Others

Global Vertical Farming Market by Region
North America
Europe
Asia Pacific
Middle East and Africa
South America

Company Profiles
Eden Green Technology
Elevate Farms Inc.
iFarm
OSRAM GmbH
Plenty Unlimited Inc.
Sky Greens
Vertical Farm Systems
Square Mile Farms
Agrilution
AeroFarms

Moreover, key companies contributing to Fiber Laser market valuation are studied thoroughly. The study entails a list of these companies along with exhaustive information regarding their offerings, strategic decisions such as partnerships, product launches, mergers & acquisitions and SWOT analysis.

Immediate delivery of our off-the-shelf reports and prebooking of upcoming studies, through flexible and convenient payment methods - https://www.theinsightpartners.com/buy/TIPRE00007018/?utm_source=OpenPR&utm_medium=10593

Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

This release was published on openPR.