The global vertical farming market is anticipated to grow significantly at a CAGR of 19.2% over the forecast period (2021-2027). The key aspect that drives the growth of the global vertical farming market is the need for sustainable farming options owing to the limited accessibility and expensive land. Numerous factors such as the growth of population along with its growing needs, earth erosion, different forms of contamination, elimination of natural sources owing to the rising cities, the advent of biofuels, restrictions imposed on food production techniques affected by customers, and the requirements of the better-quality food products with less chemical used are some of the factors that encourage the growth of the vertical farming market over the forecast period.
Browse the full report description of "Global Vertical Farming Market Size, Share & Trends Analysis Report by Structure Type (Building-based Vertical Farming and Shipping Container-based Vertical Farming), by Growth Mechanism (Aeroponics, Hydroponics, and Aquaponics), and by Component (Sensors, Lighting, Climatic Controls, Irrigation Component, Building Material, and Other Components) Forecast, 2021-2027" at https://www.omrglobal.com/industry-reports/vertical-farming-market
Besides, the presence of the key players continuously innovating novel technologies also enhances market growth. Players such as AeroFarms LLC, Illumitex Inc., Koninklijke Philips N.V., Everlight Electronics Co. Ltd., Hort Americas, LLC, Signify Holding, Sky Greens Pte. Ltd., American Hydroponic Systems Inc., Vertical Farm Systems among others substantially contribute to the market growth. For instance, in January 2020, Freight Farms partnered with a France-based food services and facility management company Sodexo, for facilitating schools and universities in the US with the latest hydroponic vertical farming technology. Hence, this is likely to promote the adoption of vertical farming techniques and in turn, will enhance the growth of the market over the forecast period.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region/segment
Global Vertical Farming Market – Segmentation
By Structure Type
By Growth Mechanism
By Component
Global Vertical Farming Market – Segmentation by Region
North America
Europe
Asia-Pacific
Rest of the World
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