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Vertical Farming Crops Market Recent Trends, In-depth Analysis, Size and Forecast 2021 to 2028
The Vertical Farming Crops Market was valued at US$ 282.80 million in 2021 and is projected to reach US$ 1,057.75 million by 2028. It is expected to grow at a CAGR of 20.7% from 2021 to 2028.Vertical farming is becoming increasingly popular due to urbanization and the use of advanced agricultural techniques that yield higher returns. Crops are grown in vertically stacked trays or containers filled with a nutrient-rich medium, instead of soil. Techniques such as hydroponics, aquaponics, and aeroponics are commonly used in vertical farming. With the increasing number of health-conscious people, the demand for healthy and organic food is rising in the food service sector. This factor is projected to create profitable growth opportunities for the vertical farming crops market over the coming years.
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Analysis of the Top Market Players:
1. AeroFarms
2. Agricool
3. Bowery Farming Inc.
4. CropOne
5. Infarm
6. Plantlab
7. Plenty Unlimited Inc.
8. Gotham Greens
9. MIRAI Co., Ltd.
10. BrightFarms
In this report, the market has been segmented on the basis of:
Crop Type (Tomato, Leafy Greens, Herbs, and Others)
End-Use (Food Retail and Food Service)
Farming Technique (Hydroponics, Aeroponics, and Aquaponics)
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On the basis of the end-use industry, the vertical farming crops market has been categorized into food retail and food service.. In 2020, the food retail category held the larger market share, while the food service category is expected to experience the highest compound annual growth rate (CAGR) between 2021 and 2028. This is due to the rapid expansion of the food service sector, which is driven by people's busy lifestyles and demanding work schedules. Additionally, the growth of cafes, eateries, and quick-service restaurants (QSRs) that offer dine-in, takeaway, and home delivery services is further fueling the growth of the food service industry.
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