Bharat Book Bureau Provides the Trending Market Research Report on “Global Vertical Farming Market Outlook, 2027” under Food & Beverage Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
Vertical farming is basically the process of producing food on vertically inclined surfaces. Instead of farming crops, vegetables, and other foods on a single level (on a flat field), this method allows food to grow in a vertical manner into stacked layers. These layers are commonly integrated into other structures, including skyscrapers, shipping containers, or repurposed warehouses. The vertical farming process uses technology from controlled environment agriculture (CEA) to enhance the overall outcome. That includes artificial control of temperature, light, humidity and gases across the vertical farming structure. Vertical farming offers an opportunity to change the way we grow crops and consume them. Also, this industry is expected to be the "future of agriculture" due to its high level of monitoring and increased efficiency. Vertical farming reduces the use of water and land while also reducing waste. Additionally, the crops are secured from pests and other impurities due to the CEA technology. Further, by 2050, the world’s population is projected to grow to 9.7 billion people. Every industry will face difficulties in feeding such a large population to industrial development and increasing urbanization, we are losing a precious amount of arable land with every passing day. In 2015, scientists found that Earth had lost a third of its arable land over the previous 40 years. Many researchers believe that vertical farming can be a viable option to overcome this threat. The primary goal of this industry is to maximize crop production with a limited amount of space.
According to the report titled "Global Vertical Farming Market Outlook, 2027", the vertical farming market is expected to grow at a 21.82% CAGR from 2022 to 2027.Market revenue growth is expected to be driven by various factors, including a rise in global demand for food, higher yields than traditional farming, and independence from climate impacts. Drastic climate change and erratic weather patterns have significantly impacted the agriculture industry across the globe in the last decade. This change is creating higher demand for alternative, sustainable farming practices such as vertical farming. The global vertical farming market is segmented into five major regions, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Among these regions, the Asia-Pacific region is estimated to acquire a larger portion of the market share during the forecast period. Asia-Pacific is one of the most lucrative markets for vertical farming compared to other regions. There has been a significant rise in new manufacturers and start-ups offering new innovative products across the region. In addition to that, higher adoption of advanced technologies such as artificial intelligence (AI), enhanced sensors, robotics, and smart monitoring is boosting the market growth.
According to the report, the USA dominated the global vertical farming market in the base year of 2021 and it is expected to continue that momentum during the forecast period. The USA is highly fragmented, with more than 2000 farms across the country. Also, the need for farming methods that can reduce the overall environmental impact across the USA is projected to fuel the market's growth. Further, based on the growth mechanism, the global vertical farming market is segmented into three types: hydroponics, aeroponics, and aquaponics. Among these types, hydroponics growth mechanisms are anticipated to acquire more than half of the market share in terms of value during the forecast period. The hydroponics segment is a predominant growth mechanism that involves growing plants in nutrient solutions (free of soil). As this segment uses 90% less water and land, it creates a higher demand for this type of vertical farming across the globe. On the other hand, the aeroponics growth mechanism is expected to be the fastest growing segment in the global market.
Browse our full report with Table of Content:
About Bharat Book Bureau:
Bharat Book is Your One-Stop-Shop with an exhaustive coverage of 15,00,000 reports and insights that includes latest Market Study, Market Trends & Analysis, Forecasts Customized Intelligence, Newsletters and Online Databases. Overall a comprehensive coverage of major industries with a further segmentation of 100+ subsectors.
Contact us at:
Bharat Book Bureau
Tel: +91 22 27810772 / 27810773
Email: [email protected]