Vertical Farming Market Size Worth $21.15 Billion By 2028 | CAGR: 23.6%: Grand View Research, Inc.

Read 120 page research report with ToC on "Vertical Farming Market Size, Share & Trends Analysis Repot By Structure, By Offering (Lighting, Climate Control), By Growing Mechanism (Hydroponics, Aquaponics), By Fruits, Vegetables & Herbs, And Segment Forecasts, 2021 - 2028" at:https://www.grandviewresearch.com/industry-analysis/vertical-farming-market

Vertical farming is effective in ensuring stability in crop production and maintaining reliability even in adverse climatic conditions. It provides multiple benefits over traditional farming techniques, such as less use of water, the lesser need for agrochemicals, and low dependence on agricultural labors. Vertical farming makes use of metal reflectors and artificial lighting to maximize natural sunlight.

Genetically modified organisms and environmental and health effects of pesticides and other non-natural substances that are used for increasing agricultural production have encouraged consumers to adopt organic foods. According to the Organic Trade Association, the U.S. organic industry sales increased by around 5% in 2019, owing to increased investment in infrastructure and education. As per the Organic Foods Production Act of 1990, the handlers and growers of organic products need to comply with the regulations.

Artificial lighting helps in extending the hours of natural daylight, which further increases the health, growth rate, and yield of the plants. Artificial lighting such as high-pressure sodium lighting and LED lighting can extend the availability of crops (throughout a season). LED lighting systems produce a dual-band color spectrum and generate low heat. They are anticipated to witness significant growth over the forecast period.

The hydroponic system is a method of growing plants without soil. A hydroponic system eliminates the need for pesticides and artificial ripening agents and helps in producing nutritionally-rich vegetables. However, factors such as high initial investment and fewer crop varieties are likely to restrain the market growth.

Grand View Research has segmented the global vertical farming market based on structure; offering; growing mechanism; fruits, vegetables, & herbs; and region:

List of Key Players of Vertical Farming Market

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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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