Vertical Farming Market Share, Trends, Growth, Recent Demand, Industry Analysis

Vertical Farming Market Research Report: by Technology (Aeroponics, Hydroponics, Aquaponics), Structure (Indoor Vertical Farming [Building-Based Vertical Farming and Shipping Containers Vertical Farming] and Outdoor Vertical Farming), Crop Type (Tomato, Lettuce, Leafy Vegetables, Strawberr

According to the most recent report, the vertical farming market is expected to generate USD 6.5 billion by the end of 2024, with a CAGR of about 20% between 2019 and 2024. With the bulk of its sectors operating well, the segment by component is likely to hold the lion's share. In terms of geographic share, Asia Pacific holds a majority share because these countries are home to a big proportion of the world's population.

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The vertical farming market is one of the fastest-growing farming markets in the world, and the vertical farming approach has revolutionised old farming methods that required vast amounts of land and surfaces for crop cultivation. The growing population and ever-increasing food demand have put a strain on the farming business, making it impossible to meet everyone's needs. Also, to satisfy the increased needs, the environment was badly influenced and injured; hence, all of these issues contributed to the growth of vertical farming firms and indoor vertical farming techniques.

Vertical farming systems and technologies offer a superior approach to farming methods in that they allow the production of crops in large quantities within a confined land area while not requiring large sums of money to be invested in capital and also having a minimal environmental impact.

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Market Segmentation

Throughout the projection period, hardware is the dominant sector in terms of market share in the vertical farming industry. Vertical farming is a type of controlled environment agriculture activity that takes place indoors and uses an artificial environment to aid crop growth. Vertical farming replaces sunlight, which is essential for photosynthesis, with artificial lights. Hydroponics, one of the vertical farming technologies, is the process of growing crops without soil in which a constant supply of water containing vital nutrients is delivered to crop roots. Similarly, climate control systems are built to produce an appropriate atmosphere for growth, and sensors are put to measure and monitor crop growth.


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