Vertical Farming Market is valued at USD 2832.66 Million in 2020 and is expected to reach USD 9685.66 Million by 2027 with the CAGR of 19.20% over the forecast period. Increasing inclination toward eco-friendly farming is driving the growth of global vertical farming market.
Vertical farming is nothing but the practice of producing foods on a vertically inclined surface. Vertical farming produces the food on communally integrated into different structures like a skyscraper, shipping containers or repurposed warehouses. In this kind of farming modern idea uses indoor farming techniques like, controlled environment agriculture. The artificial control of temperature, light, humidity, and gases makes producing foods and medicine indoor possible. The key area of vertical farming is maximizing crops output in a limited space. The modern concept of vertical farming was proposed in 1999 by Dickson Despommier, professor of Public and Environmental Health at Columbia University In 2009, the world’s first pilot production system was installed at Paignton Zoo Environmental Park in the United Kingdom.
Vertical Farming Market Key Players:
Koninklijke Philips N.V., Everlight Electronics, Illumitex, Sky Farms, AeroFarms LLC, Green Sense Farms, American Hydroponics, Agrilution, Urban Crops, Vertical Farm Systems, and others.
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Global Vertical Farming Market Segmentation:
(Building-based Vertical Farms, Container-based Vertical Farms)
(Irrigation Component, Lighting, Sensor, Climate Control, Building Material, Glass Greenhouse, Plastic Greenhouse, Others)
By Growth Mechanism
(Hydroponics, Aeroponics, Aquaponics)
AeroFarms to Build World’s Largest Indoor Vertical Farm In Abu Dhabi
Aril 9th, 2020; AeroFarms will build the largest-ever indoor vertical farm in Abu Dhabi. The Newark-based sustainable indoor agriculture company said it will construct a 90,000-square-foot facility dedicated to the R&D and commercialization of local crops as part of a $100 million AgTech investment by the Abu Dhabi Investment Office.
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