Vertical farming global market forecast to be $6.4bn by 2023 - Market Business News. A new analysis forecasts the growing market for vertical farming – a way of producing food plants by growing them in a controlled environment in a vertically stacked system on a small farm footprint.
The new report, from P&S Market Research, suggests that between now and 2023, the global vertical farming market will grow at a compound annual growth rate (CAGR) of 24.2 percent to $6,372.5 million. Vertical farming is a new type of food production that is moving from the science laboratory into commercial markets. The idea is literally “taking root,” with vertical farms “sprouting” all over the world. Vertical farming grows plants in a stacked system in a controlled indoor environment on a small farm footprint. Image: AeroFarms.
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