With the exponential growth of the global population, the subsequent increase in global food demand, the decrease in agricultural land, and the depletion of limited natural resources, the need to improve agricultural yield has become critical. The upsurge in the urban population in developing countries, with improved quality of living due to high-income levels and the demand for fresh farm produce and animal protein, is bolstering the demand for crop production. The finite presence of natural resources, such as arable land and fresh water, along with falling farm yield trends in many crop categories, have encouraged crop producers and agricultural companies to introduce innovative and advanced agriculture alternatives to boost farm profitability.
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Concerning the growing world population and the
rising food sufficiency demand, the limited land resources won’t be
sufficient to feed the rising population. Such a situation has led to a
stronger emphasis on choosing sustainable farming operations, be it
precision agriculture, precision irrigation, or vertical farming
techniques. Vertical farming is a farming technique wherein food
products are grown in vertically stacked layers, often in urban areas,
and minimum wastage of natural resources is ensured by using artificial
lighting and different techniques of farming (hydroponics, aeroponics,
aquaponics).
The global vertical farming market is anticipated
to progress to a great extent since its initiation as a basic system to
being an ideal solution for sustainable agriculture. Vertical farming is
used to produce various vegetables and fruits on vertically inclined
surfaces. Unlike conventional farming of vegetables and other fruits on a
single level, such as in a field or a greenhouse, the vertical farming
method produces foods in vertically stacked layers generally
incorporated into structures such as a shipping container, repurposed
warehouse, and skyscraper. Vertical farming involves the integration of
numerous technologies such as big data analytics, robotics, artificial
intelligence (AI), and the internet of things (IoT) so that crops can be
produced perfectly without any agronomic constraint.
Vertical
farming offers various opportunities, such as demand from countries with
less arable land and unfavorable climate and integration of technology
with vertical farming. Further, challenges hindering the growth of the
global vertical farming market include the need for constant monitoring,
high operational and maintenance cost, and not being suitable for all
types of crops.
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Conventional farming is likely to be surpassed
by vertical farming over the forecast period. This is owing to the
benefits offered by vertical farming, such as no dependency on climatic
conditions, limited use of water and chemicals or pesticides, and
reliable year-round crop production. Such a shift in the agriculture
sector is likely to offer precision in farm operations. Due to COVID-19,
the growth in the global vertical farming market would be slow by the
end of 2021. It is expected that the market is likely to increase
exponentially from 2022, owing to the increase in the demand for
agricultural products. Due to COVID-19, the growth in the global
vertical farming market would be slow by the end of 2021. It is expected
that the market is likely to increase exponentially from 2022, owing to
the increase in the demand for agricultural products.
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