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Vertical Farming Market: Status and Size Report 2021: Growth Opportunities, Product Scope
According to a new report published by Allied Market Research, titled, "Vertical Farming Market by Structure, Growth Mechanism, Component, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030", the vertical farming industry size was valued at $3.24 billion in 2020, and is projected to reach $24.11 billion by 2030, registering a CAGR of 22.9%. Asia-Pacific is expected to be the leading contributor in the global vertical farming market forecast period, followed by North America and Europe.
The growth of the vertical farming market is driven by factors such as rise in trend of using organic foods (healthy food without pesticides), optimum use of vertical space, and minimal impact of weather on yield. Increase in population leads to rise in demand–supply gap for food. Thus, the need for alternative farming techniques such as vertical farming is expected to increase in the near future. In addition, upsurge in per capita income in developing countries and occupational changes along with the globalization have changed the food preferences. Such trends have led toward the demand for new innovations in agriculture and need for such innovations to be integrated with the main stream agriculture.
The key players profiled in the report include 4D Bios Inc., AeroFarms, Agrilution, AMHYDRO (American Hydroponics)
Read More at https://www.alliedmarketresearch.com/