Vertical Farming Market Size, Share & Trends Analysis Report by Structure (Shipping Container, Building Based), By Supply, By Growth Mechanism, By Fruits, Vegetables & Herbs, by region and segment forecast, 2022-2030
New York, March 04, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Vertical Farming Market Size, Share & Trends Analysis Report By Structure, By Offering, By Mechanism growth, by fruits, vegetables and herbs, Forecast by region and by segment, 2022 – 2030” – https://www.reportlinker.com/p06241798/?utm_source=GNW
Vertical Farming Market Growth and Trends
The global vertical farming market size is expected to reach USD 33.02 billion by 2030. It is expected to grow at a CAGR of 25.5% from 2022 to 2030. The increased use of Internet of Things sensors (IoT) for crop production is likely to drive the market. demand over the forecast period. The information obtained from the sensors is stored in the cloud and analyzed to perform the required actions. Growing automation in agriculture and increasing use of big data and predictive analytics to maximize yields are also likely to drive the market.
Vertical farming is effective in ensuring the stability of agricultural production and maintaining reliability even in adverse climatic conditions. It offers multiple advantages over the traditional agricultural technique, such as less water use, less need for agrochemicals and low dependence on agricultural labor.
Vertical farming uses metal reflectors and artificial lighting to maximize natural sunlight.
Genetically modified organisms and the environmental and health effects of pesticides and other unnatural substances that are used to increase agricultural production have encouraged consumers to adopt organic foods. According to the Organic Trade Association, U.S. organic industry sales grew about 5% in 2019 due to increased investment in infrastructure and education. Under the Organic Food Production Act 1990, handlers and producers of organic products must comply with the regulations.
Artificial lighting helps extend the hours of natural daylight, which further increases plant health, growth rate and yield. Artificial lighting such as high pressure sodium lighting and LED lighting can extend crop availability (throughout a season).
LED lighting systems produce a dual band color spectrum and generate little heat. They are expected to experience significant growth over the forecast period.
A hydroponic system is a method of growing plants without soil. A hydroponic system eliminates the need for pesticides and artificial ripening agents and helps produce nutrient-dense vegetables.
However, factors such as high initial investment and fewer crop varieties are likely to restrain the growth of the market.
Vertical Farming Market Report Highlights
• Growing production of biopharmaceuticals is expected to drive the market
• In terms of structure, the building-based segment is expected to register a significant CAGR of 27.8% over the projected period
• On the basis of supply, the air conditioning segment is expected to witness strong growth over the forecast period as crop growth can be controlled by monitoring and adjusting mineral concentrations
• By growth mechanism, Aeroponics segment is expected to witness considerable growth over the forecast period as Aeroponics facilitates rapid growth of plants (under normal conditions)
• The North American regional market is expected to witness significant growth over the forecast period owing to the expansion of small commercial vertical farms
Read the full report: https://www.reportlinker.com/p06241798/?utm_source=GNW
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