Food Production Methods to be Transformed with Vertical Farming Market, says Market.us
Vertical farming involves growing crops in controlled environments, such as skyscrapers or shipping containers, using stacked layers of soil or hydroponic systems. This method offers numerous benefits over traditional farming, including increased efficiency, reduced water usage, and improved crop yields.
According to Market.us, “The Vertical Farming Market is projected to reach a valuation of USD 33.53 Billion by 2032 at a CAGR of 25%, from USD 3.6 Billion in 2022.”
Asia Pacific was the dominant market leader in 2022, with a revenue share exceeding 35.0%. It is expected to continue its dominance over the forecast period. The key factors expected to drive demand are increasing awareness about alternative farming and the decreasing availability of fertile land.
Anurag Sharma, a senior research analyst at Market.us, said, “ The focus of farmers is shifting to artificial agriculture because of changing climate conditions. Governments around the globe are urging organic farming with organic pesticides. These factors will increase the demand for modern agriculture, and thus drive the indoor farming industry.”
The COVID-19 epidemic has caused a long-term decline in manufacturing utilization. Travel bans and facility closures have prevented workers from visiting their factories. This is because electronics used in vertical agriculture facilities, such as lighting, sensors, and other electronic components, have slowed down the market for vertical farming in 2020.
Vertical farming is the art of producing food from vertically stacked layers. This could be done in a warehouse or skyscraper. Organic foods are more nutritious, healthier, safer, and better for the environment. Producers, policymakers, and suppliers must implement effective marketing strategies to influence the demand for organic food.
Consumers are increasingly concerned about their health and the prevalence of heart disease and obesity. Traditional growers have been forced to switch to alternative farming methods due to the increasing depletion in groundwater and changing climate conditions. The industry will see an increase in demand due to rising consumer health concerns and other factors.
Indoor farming is able to produce crops all year long, unlike traditional farming. This results in higher productivity. Indoor farming is able to protect crops from severe weather conditions by using techniques like controlled environment agriculture technology. This involves artificial environmental control, control over light, and fertigation.
Market growth is largely due to the increasing demand for high quality food, growing urbanization, and independent farming techniques. These factors have increased food demand. With a growing population, the demand for food is likely to grow significantly by 2030. Vertical cultivation allows consumers to grow crops in warehouses or multi-story buildings.
Hydroponics will be more popular as consumers become more aware of the harmful effects of pesticides. Because of the proper control of nutrients, hydroponically grown plants yield a higher yield than those grown in soil. The chemical solution is submerged in the roots of the plants and they are checked regularly to make sure that the right chemical composition is being maintained for growth.
Over the forecast period, aquaponics is expected to grow in market share. Aquaponics is the combination of aquaculture and hydroponics, which reduces the need to use harmful chemicals in cultivation. Aquaponics allows plants such as lettuces, peas, chives, and peppers to be grown. Aquaponics water contains fish waste, which makes it nutrient-rich. This increases crop production. This makes it possible to create a natural system that is sustainable and eliminates the need to use chemicals to produce food.
Over the forecast period, aeroponics is expected to experience significant growth. The system is similar in concept to hydroponics, which does not use soil to grow plants. Aeroponics does not require a growing medium. Instead, the roots of the plants are placed in a darkened area and periodically sprayed with a nutrient-rich solution.
The vertical farming market will grow due to factors such as the increasing difficulty of land availability for food production and the growing demand for vertical farms around the world. The market will be impacted by rising urbanization, a shortage of arable land, and limited water supplies. The market will grow by integrating robotic and artificial intelligence and shifting away from traditional agriculture practices.
The market will not grow during the forecast period due to the higher initial investment cost.
If you require any further information about a related market, please get in touch with us. we're happy to help you
+91 7008 614 496
+91 7008 614 496