Vertical Farming Market Share, Size, Future Demand, Global Research, Top Leading player, Emerging Trends, Region by Forecast to 2027
Market Size – USD 2.90 billion in 2019, Market Growth - CAGR of 20.1%, Market Trends – Increasing utilization of hydroponics method. The global Vertical Farming Market will be worth USD 11.71 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the growing demand for organic food products among consumers. Growing environmental concerns such as the depletion of soil quality and groundwater on applications of chemical-based solutions have increased the vertical farming system's adoption. The reduction in the prices of the light-emitting diode (LED) and the technological advancement in the LEDs help in the growth of the vertical farming system. The scarcity of space in the densely populated countries has resulted in the increasing adoption of the vertical farming method. The advantages of growing crops close to urban areas and the reduction in transportation costs are expected to fuel the vertical farming market'