Vertical Farming Global Market Report 2022
New York, June 14, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Vertical Farming Global Market Report 2022” – https://www.reportlinker.com/p06285611/?utm_source=GNW
, Signify Holding, Sky Greens, Spread, Square Mile Farms Ltd., Swegreen, Urban Crop Solutions, Valoya, Eden Green Technology, Gotham Greens Holdings LLC, AppHarvest, Kalera, General Hydroponics Inc., Mirai Co. Ltd., Altius Farms, Bowery Farming, Future Crops, Growpod Solutions, and Intelligent Growth Solutions.
The global vertical farming market is expected to grow from $4.21 billion in 2021 to $5.04 billion in 2022 at a compound annual growth rate (CAGR) of 19.72%. The market is expected to grow to $11.58 billion in 2026 at a CAGR of 23.15%.
The vertical farming market consists of sales of vertical farms by entities (organizations, sole traders, and partnerships) which are involved in vertical farming.Vertial farming refers to the process of cultivating vegetables in layers that are stacked vertically.
Growing methods include soil, hydroponics, and aeroponics.Vertical farms try to grow food in difficult conditions, such as where arable land is less or unavailable.
Using skyscraper-like architecture and many approaches, the system aids mountaintop settlements, deserts, and cities in growing various types of fruits and vegetables.
The main types of vertical farming are hydroponics, aeroponics and aquaponics.Hydroponics vertical farming refers to the cultivation of plants without using soil.
Hydroponic flowers, herbs, and vegetables are planted in inert growing media into vertical farming techniques and are supplied with nutrient-rich solutions, oxygen, and water.The components of vertical farming are irrigation component, lighting, sensor, climate control, building material, and others.
These have different structures such as shipping container and building-based.The various crop types are leafy green, pollinated plants and nutraceutical plant.
Vertical farming has several applications such in indoor and outdoor farming.
North America was the largest region in the vertical farming market in 2021.Europe is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rise in urbanization is expected to propel the growth of the vertical farming market.Urbanization increases the total cropland area and decreases the rural population which results in a higher per-capita cropland area of rural residents and, therefore, increased farm size.
By 2050, approximately 80% of the world’s population will be living in cities, and the human population will have grown by three billion people.Also, according to the World Economic Forum, it is expected that over one-third of the projected urban growth between now and 2050 will occur in just three countries: India, China, and Nigeria.
India is expected to gain 416 million urban residents by 2050, China 255 million, and Nigeria 189 million. Therefore, the rise in urbanization is driving the vertical farming market.
As the vertical farming industry expands, new developing trends in the sector are emerging to keep up with the technological advancements surrounding the market.One of the latest such kinds of trends is next generation vertical farms, which are farms that make use of hi-tech growing methods to produce high quantities of crops all year round.
For instance, Sweetgreen, a Swedish company that operates in the vertical farming market and offers Hyper-local leafy greens manufacturing using a digitally based in-store service, developed and debuted the ’NextGen’ of super-efficient in-store vertical farms in Linköping’s Ica Maxi megastore on April 16, 2021.The company’s ‘Farming-as-a-Service growing’ unit for leafy greens is now right at the store’s door.
The new vertical farm will be the largest in-store cultivation market in Scandinavia.
In October 2021, Kalera SA, a Norway-based technology-driven vertical farming company, acquired &ever GmbH, for a deal amount of $147.67 million. With this acquisition, Kalera will hold 100% of &ever’s activities in Europe, Asia, and the Middle East, and will be able to spread its engineering, plant science, seed science, IT infrastructure, and back-office operations to all farms using a single platform. &ever GmbH is a Germany-based firm that combines best practices in technology, agriculture, and crop science to create indoor vertical farming, and was founded in 2015.
The countries covered in the Vertical Farming market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06285611/?utm_source=GNW
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