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Vertical Farming Market Size
- Report ID: GMI1525
- Published Date: May 2021
- Report Format: PDF
Vertical Farming Market Size
Vertical Farming Market size surpassed USD 4.51 billion in 2020 and is poised to grow at a CAGR of over 23% between 2021 and 2027. The ability of vertical farming to produce high-quality herbs, fruits, and vegetables throughout the year will positively influence the market revenue.
| Report Attribute | Details |
|---|---|
| Base Year: | 2020 |
| Vertical Farming Market Size in 2020: | 4,510.0 Million (USD) |
| Forecast Period: | 2021 to 2027 |
| Forecast Period 2021 to 2027 CAGR: | 23.2% |
| 2027 Value Projection: | 19,181.9 Million (USD) |
| Historical Data for: | 2017 to 2020 |
| No. of Pages: | 280 |
| Tables, Charts & Figures: | 263 |
| Segments covered: | Technology, Product, Application and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The rate of conservation and recycling of natural resources in vertical farming is another factor that will contribute to the vertical farming market growth. The majority of the water used in traditional farming is lost due to evaporation or runoffs. On the other hand, vertical farms need less water than traditional farms and most of the water is recycled back, thus reducing the usage of water by almost 90%. Vertical farming also reduces dependency on fertilizers & pesticides and needs less soil than conventional farming. However, high capital requirement, energy consumption, limitations on crop variety, and the lack of awareness may restrict the market penetration in agriculture industry.
Frequently Asked Questions (FAQ) :
Vertical Farming Market Scope
