Vertical farming Market Size is Projected to reach USD 9685.66 Mn by 2027

Arshadshaha29 Oct, 2021Business

vertical farming market was valued at 2832.66 million in 2020. The vertical farming market size is set to grow at 19.20% CAGR to reach USD 9685.66 million at the end of 2027. The rising burden of resources globally, the decreasing yield of once fertile land, and increasing demand for locally sourced-, and organic food are key drivers of growth in the vertical farming market. Furthermore, the vertical farming also promises major potential in cost-savings for small and large players alike. The growing awareness about organic method of farming like hydroponics, and increasing realization of present dangers in agriculture like chemical fertilizers also remain strong drivers of growth for the vertical farming market globally.