Statistics and trends in the development of the vertical farming market

Vertical farming is an efficient technology that practices the cultivation of crops in vertically stacked layers. This method often includes controlled environment farming, which aims to optimize plant growth, and soilless farming methods such as hydroponics, aquaponics, and aeroponics. Some common design options for housing vertical farming systems include buildings, shipping containers, tunnels, and abandoned mines. As of 2020, there are approximately 30 hectares (74 acres) of active vertical farmland worldwide. The main advantage of using vertical farming technologies is to increase yields with a smaller land area. The increased ability to grow more crops at the same time because crops do not share the same tracts of land while growing is another huge benefit. In addition, the crops are weather resistant due to their indoor placement, which means less crop losses in extreme or unexpected weather conditions. The practice of farming using vertical farming technology is one of the leading technologies for food production today. Due to a number of advantages and a range of possibilities that this technology has and presents, this type of farming is rapidly gaining popularity throughout the world in recent years. The indicators of the general world market in this segment demonstrate rather high indicators. Market analysis includes regional segmentation for North America, Europe, Asia-Regional and Latin America. The main volume at the moment falls on the North American market. More than half of the revenue in this sector comes from the vertical hydroponic farming market. The market for vertical indoor trusses is the largest part of this segment and accounts for 75% of the total. By 2025, the volume of the vertical farming market is projected to increase by 2.5 times to $ 7.3 billion. Thus, this paper summarizes the advantages and volumes of use of the vertical farming market, regional geography and segmentation of this business.