The vertical farming market will power at a rate of rate of 25.2% by the end of this decade, to reach USD 30.2 billion by 2030. This has a lot to do with the benefits communicated by vertical farming, for example power, less water and land needs, and allows growers to decrease the processing and washing time of the crops produced.
Furthermore, the lack of agrarian land and the snowballing requirement for organic food are other major growth factors for the industry. Also, cutting-edge agriculture methods assist farmers to produce about 230 times more crop yields than conventional farming.
Furthermore, the increasing scarcity of groundwater and altering climatic conditions have motivated conventional growers for adopting alternate farming methods.
The hydroponics category dominated the industry with a revenue share, of over 45%, in the past, and this trend will continue in the future as well. This is for the reason that of its low cost of implementation and ease of operation.
Plants usually grown hydroponically produce greater yields as opposed to soil-growing plants. This technique helps in plummeting the risk of soil-causing ailments. In this method, the soil is substituted by a mineral solution, placed around the roots of the plants.
The aquaponics category will gain a considerable share in the future. Aquaponics combines aquiculture and fish farming or aquaculture, for creating an effective closed-loop system, helping in the agriculture of dissimilar types of crops without the use of pesticides and harmful chemicals. The plants grown through the aquaponics system are chive, pepper, lettuce, and cucumber.
The aquaponics system comprises fish effluent that alters the nitrogenizing bacteria into nutrients, increasing the production time; and aquaponics fish waste that is put to use as a plant fertilizer.
Indoor farming is altering the way of crop farming or conventional farming. Urban agriculture allows farmers for producing organic food, grown without the usage of harmful pesticides and chemicals.
Indoor cultivation makes use of pink lights, sensors, LED lights, and climate control systems, automatically adjusting the temperature and moisture of the room. It is found that indoor farming produces crops quickly and makes use of less water and power than conventional farming with zero chemicals.
The vertical farming market of the APAC was the leader, with a revenue share of over 32% in the past. India will rise quickly in the years to come. Vertical agriculture is progressively accepted in the region because of the lack of fertile agrarian land and snowballing populace, which allows prospects for urban cultivation. Likewise, vertical cultivation firms are improving their operations in the region.
Due to a switch to a technology-based agriculture, the demand for vertical farming solutions will continue to grow in the years to come, all over the globe.