Vertical-Farming Sector To Be Worth Close To $100bn By 2035

By: Trademagazin editor Date: 2023. 12. 20. 09:04

The increased focus on growing food crops without compromising the environment is set to be the major factor driving the growth of the global vertical-farming market between 2023 and 2035, a new study by Research Nester has found.

According to the research firm, the vertical-farming sector is set to achieve a value of $96.33 billion (€87.88 billion) by 2035.

Furthermore, the rising shift towards the consumption of organic food items is also considered to be another growth factor for market expansion in the coming years.

Other advantages offered by vertical farming – such as a reduced use of agricultural land, a decreased consumption of water, and the production of high-quality products – are likely to propel the shift towards this technology.

At the same time, the high cost to set up vertical farming, a lack of awareness among people about the advantages of vertical-farming techniques, and a lack of well-equipped systems for performing vertical farming worldwide are some of the major factors anticipated to hamper the sector’s growth, Research Nester noted.

ESM