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Vertical Farming Market: Technological Prospects 2022-2028

Vertical farming, a closed environment crop-growing technique has gained prominence globally owing to high food consumption. Read more about Vertical Farming Market

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Vertical Farming Market: Technological Prospects 2022-2028

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  1. VerticalFarmingMarket:TechnologicalProspects2022-2028 Verticalfarming– aclosedenvironmentcrop-growingtechniquehasgainedprominencegloballyowingtohighfoodconsumptionandlackofarablelandforcultivation.Thevolumeofglobalfoodconsumptionreached2.5billionmetrictonsin2021.Thiselevatestheneedforthistechniquetoreducerelianceonweather,highsoilfertility,andwaterconsumption.Ourestimatesindicatethattheglobal vertical farming marketissettopropelataCAGRof23.10%from2022to2028. Severalcropshavebeengrowninstackedlayersinskyscrapers,warehouses,orshippingcontainersinrecentyears,especiallyinAsiaandEurope.Forinstance,VerticalFuture,aLondon-basedcompany,concludedresearchtodeliversustainablefreshproducewithzeroagrichemicalcomponents.Hence,agradualshiftfromconventionalagrochemical-basedfarmingtosustainablecontrolledenvironmentagriculturehaswidenedthemarket’sscope. Technology-DrivenOfferings– ASustainableApproach 1.Lightingcategorycapturesthemajorshareintermsofofferingandisexpectedtocontinueitsdominanceovertheforecastperiod.Farmingwithlightingtechnologyenablesconsistentplantgrowth,reducingtheheatstressonrootsandensuringuniformlighting.LED,inthisregard,isapopularsupplementarylightsourceasitconsumes85%lessheatthanhigh-pressuresodium(HPS)lights.

  2. Hence,theLEDgrowlightissettobecomethemostsought-aftertechnology,forecastedtoreachabout$12billionby2030.GoodLeaf,aCanadianverticalfarm,isamongthemanytohavereplacedoldlightingsystemswithLEDtogrowvariedcropsandreduceoverallenergy-relatedcostsinverticalfarming.Overall,thegrowingimplementationofthistechniqueinskyscrapersandgreenhousesisestimatedtodrivethemarket’sdemandinthecomingyears.Hence,theLEDgrowlightissettobecomethemostsought-aftertechnology,forecastedtoreachabout$12billionby2030.GoodLeaf,aCanadianverticalfarm,isamongthemanytohavereplacedoldlightingsystemswithLEDtogrowvariedcropsandreduceoverallenergy-relatedcostsinverticalfarming.Overall,thegrowingimplementationofthistechniqueinskyscrapersandgreenhousesisestimatedtodrivethemarket’sdemandinthecomingyears. Verticalfarmingisinclinedtowardsdeployingsensorstostoreinformationinthecloudandanalyzedatainrealtimeusingtheinternetofthings(IoT).Increasinggovernmentsupportformodernagriculturaltechniqueshasboostedthedemandforthesesensorsinthemarket.Forexample,theEuropeanCommissionintroducedtheFarmAdvisorySystemtohelpfarmersunderstandrulesforanimalhealth,agriculture,andtheenvironment. AnotherdevelopmentincludescollaborationbetweenInternationalRiceResearchInstituteandgovernmentpartnerstointroducetheCerealSysteminitiativeinSouthAsiatooffertoolsforlocation-specificfertilizerrecommendationstogrowers.EstimatesindicateC02sensorstobeapopulardevice,followedbypH,EC,andmagnetometersensors. Climatecontrolisacriticalaspectofindoorfarmingtechniques,withairqualitycontrolgainingmajorprominence.Hence,CO2enrichmentmethodshavebeenadoptedtosaturateCO2solutions,reducingoverallcostandtheneedforadditionalequipmentsuchasHVACsystems.Sincethebuild-upofheatandhumidityinthegrowingareaincreasestheriskofinfection,verticalplanesareincorporatedasitallowsairtomoveeasilycomparedtohorizontallayouts. However,therisingneedforairflowexaminationhasinfluencedplayerstointroducenewsystems,suchastheairflowmonitoringsystembyKanomaxthatmeasuresairvelocity24/7,enablingfarmerstointerveneinrealtimeiftheairflowispoororexcessive.Thedeploymentofsuchadvancedsystemscreatesopportunitiesforoperatingplayerstolaunchnewproducts,thusdrivingthemarket. Bio-PharmaFarming– AnewVertical? Inadditiontobeingeconomicallyviableinthefoodindustry,verticalfarmingisexpectedtoshowsignificantprominenceinthebiopharmasectorintheupcomingyears.Molecularfarming,inthisscenario,holdsthepotentialtoofferproteinsthatcanbeusedasatherapeutictoolinhealthcareandlifesciences.Inlinewiththis,afewbio-pharmacompanieslikeAbattisBioceuticalsCorphaveadoptedverticalfarmingtechnologytoproducenutraceuticalcomponents.Therefore,theadoptionofadvancedsolutionslikeindoorcultivationwillacceleratetheverticalfarmingmarket’sdevelopmentovertheforecastperiod. FAQs: Q1)Whichcountrieshaveadoptedverticalfarming?

  3. SeveralcountriesintheAsia-PacificandEuropehaveadoptedverticalfarmingtechniques,includingJapan,China,Singapore,theUK,France,andtheNetherlands.SeveralcountriesintheAsia-PacificandEuropehaveadoptedverticalfarmingtechniques,includingJapan,China,Singapore,theUK,France,andtheNetherlands. Q2)Whicharethekeycroptypesintheverticalfarmingmarket? Tomato,berries,pepper,cucumber,microgreens,lettuceandleafyvegetables,andothersarekeycroptypesintheverticalfarmingmarket.

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