Vertical Farming Market Size Worth USD 11.71 Billion by 2027 | CAGR of 20.1%: Emergen Research

VANCOUVER, B.C., Oct. 28, 2020 /PRNewswire/ -- 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 the market is driven by the surging demand for organic food products among consumers. Growing environmental concerns, such as the depletion of soil quality and groundwater due to the application 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 vertical farming sector growth. The scarcity of space in densely populated countries has resulted in the increasing adoption of the vertical farming method. The advantages of growing crops close to urban areas and lower transportation costs are expected to fuel the vertical farming market's growth over the forecast period. 

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Emergen Research has segmented the Global Vertical Farming Market on the basis of structure, growth mechanisms, offering, and region:

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