Rest of the World
Vertical farming includes growing mechanisms such as hydroponics and aeroponics technology which consumes around 70% less water as compared to traditional farming techniques. The urban waste such as sewage water can be recycled and used for vertical farms and sewage sludge can be converted to topsoil. However, high cost associated with setting up a vertical farm in a building in an urban area, considering the ever swelling real estate sector, is one of the major factors restricting the growth of vertical farming market. Another major limitation of vertical farms is that it can grow only limited variety of fruits and veggies.
Currently, Asia-Pacific is the largest market for vertical farming and is expected to maintain its dominance throughout the forecast period. Rising awareness among farmers towards the importance of alternative methods of farming to meet the demand of rapidly growing population, better crop yield in lesser available area and water conservation are the major factors attributing to the growth of vertical farming market in this region.
Some of the leading companies operating in the global vertical farming market include AeroFarms, Brigth Farms, Infinite Harvest Inc., Gotham Greens Holdings LLC, Vertical Harvest Jackson, Home Town Farms, Metro Farms, Garden Fresh, Lufa Farms, and others.