Urban Farming Market To Observe Highest CAGR Growth of 5.20% by 2028 | Market Analysed by Growth, Trends, Share, Industry Size and Key Player Analysis

The urban farming market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 5.20% in the forecast period of 2021 to 2028 and is expected to reach USD 555.94 billion by 2028. The rise in demand for high class food with no pesticide or herbicides is the factors escalating the growth of urban farming market.

Urban farming refers to indoor and outdoor plant cultivation, processing of the output products and their distribution around the city among local inhabitants. This agricultural approach offers numerous benefits including food security for low income groups, increased access to fresh fruit and vegetables, employment and training opportunities and decreased environmental impacts due to less packaging and storage and transport. This practice assists in enhancing urban food security, urban resilience and meeting climate changes.

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The rapid urbanization across the globe and the rise in popularity of urban farming due to supply of fresh nutritious products at competitive prices and lower transportation cost are the major factors driving the urban farming market. The growth in adoption of urban farming because of the several offered benefits such as food security and transparency, urban sustainability, health and nutrition factors and education and the surging demand for locally grown food products among population accelerate the urban farming market growth. The increasing rate of urban agriculture projects as it creates job openings, generates income, stimulates the local economy and helps smalls businesses grow and growing adoption of organic food due to the prevalence of chronic diseases act as factors influencing the urban farming market. The rising demand for high quality fresh food cultivated with no chemical usage, depletion of groundwater and the increase in need to produce vegetables and fruits in narrow spaces also propel the urban farming market. Additionally, the affordability of fresh food, more productivity compared to conventional farming and growing investment in these projects positively affect the urban farming market. Furthermore, the provision of green infrastructure, sustainability, incorporation in the metropolitan cities plans and technological advancement and innovations extend profitable opportunities to the urban farming market players in the forecast period of 2021 to 2028.

On the other hand, high initial cost and limitation on the range of crops are factors expected to obstruct the urban farming market growth. Space and pollution are projected to challenge the urban farming market in the forecast period of 2021-2028.

Some of the key Players profiled in the Global Urban Farming Market : UrbanFarmers, Urban Crop Solutions, SproutsIO, Sky Greens, Koninklijke Philips N.V., FarmVisionAI, GrowUp Farms Ltd., Green Sense Farms Holdings, Inc., Gotham Greens, GARDEN FRESH FARMS, EVERLIGHT ELECTRONICS CO., LTD., Upward Farms, Brooklyn Grange farms, BrightFarms, AMHYDRO, Agrilution, Freight Farms, Inc., AeroFarms, Altius Farms

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