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/EIN News/-Pleasanton, California, November 17, 2021 (Global News Agency)-The global vertical farming market is expected to grow from USD 2.5 billion in 2020 to USD 9.6 billion in 2027, a compound annual growth rate Is 21.2%.
It is expected that during the forecast period, the growing demand for organic food will drive the growth of the vertical agricultural market. The vertically stacked shape of these farms reduces the need for additional buildings and property. It also reduces the functions of the machines in the entire traditional agriculture. The optimal use of vertical space and the rational use of energy are conducive to the development of vertical agriculture. In addition, these facilities also contain numerous artificial planting techniques. This technology used in agriculture allows us to track the growth and harvest of plants, which also promotes the development of vertical agriculture.
Due to the increase in urbanization and the greatly reduced supply of fertile land, the focus on sustainable agriculture has increased, which is one of the significant drivers of market growth. The growing preference for domestically produced foods with higher vitamin content in urban areas has affected the growth of the vertical agricultural market.
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Maintaining air-conditioned air flow throughout the vertical farm to create a unified development environment is the main challenge for growers. Due to the close spacing of shelves in vertical farms, it is difficult to create uniform conditions everywhere. In the case of horizontal flow, plants and light obstruct the flow of air from one point to another, causing changes in temperature, humidity, and airspeed from one end of the rack to the other. The air that circulates vertically across the shelf absorbs heat from the light and moisture of the plants, making it hotter and humid along its path. In order to cope with the challenge of airflow, farmers installed small circulating fans, however, this will increase production costs, thereby affecting the product rate.
After many states in the United States legalized scientific and recreational cannabis, the cannabis industry is growing unexpectedly. As the demand for marijuana has grown unexpectedly, suppliers have begun to increase their business in different forms to achieve their goals. Consistent with the current production situation, the development of cannabis on vertical farms can be a costly operation. Different factors need to be considered for cannabis grown on a non-sunlight medium. For example, the heat from a high pressure sodium lamp (HPS) can damage the product. Therefore, LEDs running in large numbers will lower the temperature, which may be a way to release too much heat. Companies that develop hemp through vertical farming have achieved great results in terms of productivity.
The main players operating in the vertical agricultural market are:
OSRAM GmbH, Signify Holding, AeroFarms, Freight Farms, Inc., SPREAD Co., Ltd., Sky Greens, Valoya, Plenty Unlimited Inc., Heliospectra AB, Everlight Electronics Co., Ltd., Agrilution, 4D Bios Inc., Hort Americas, AmHydro, urban crop solutions, etc.
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Global vertical farming market outlook by region (income, USD million, 2021-2027)
In terms of geography, due to the continuous expansion of GM crop technology, Europe is expected to experience significant growth during the forecast period. In addition, the increasing popularity of nanotechnology and robotic agriculture has promoted the growth of the market in this region. The use of nanotechnology can help improve food packaging and strengthen pest control. In addition, the European Environment Agency has completed many projects to build vertical farms to overcome the severe situation of continuous population growth and climate change, and to produce food in ways that are not conducive to the environment. This has led to an increase in the possibility of the market in the region.
Global vertical agricultural industry segmentation:
Industry Outlook for Growth Mechanism of Global Vertical Agriculture Market (Revenue, USD Million, 2021-2027)
Global vertical farming market by structure industry outlook (income, USD million, 2021-2027)
Global vertical agriculture market by component industry outlook (revenue, USD million, 2021-2027)
Global vertical farming market by crop industry outlook (income, USD million, 2021-2027)
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