In 5 years, world market of vertical farms will reach $6 billion in size07.11.2017
According to Market Research Future, the volume of vertical farming market will grow a lot by 2022 and reach $6 billion, which is four times higher than in 2016 ($1.5 billion). However, there are circumstances that may have a negative impact on this market, as reported by the Digital Journal.
The healthy lifestyle is trending and it includes eating healthy, which in its turn promotes vertical farming. Because only natural products are grown in this environment. And thanks to the fact that organic products are increasingly used in the food and pharmaceutical industries, vertical farming market is growing in volume all over the world.
With a vertical farm, you can grow and harvest 5 times more produce than with a regular one. But this type of farms is not yet economically profitable, since they initially require significant investments. These costs range from $200 million to $500 million.
Also, the main problems of launching this farming activity, are huge expenses for electricity supply, installation of a water purification system and various environmental controllers. Perhaps these factors will cause a slowdown in the market growth for several years.
But still, vertical farms can become the main source of plant foods in the near future. They will help feeding the population of our planet, which, according to scientists, is increasing every year. For example, 900 tons of vegetables are already grown each year on AeroFarms startup farms.
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