U.S. Vertical Farming Market Outlook (2018 to 2032)
Synopsis
The above chart is U.S. Vertical Farming Market Outlook (2018 to 2032)
Market Dynamics
Vertical farming is an innovative and modern way of farming that offers an array of environmental and economic benefits. the technique involves growing crops indoors and vertically orienting the growing space, typically inside a warehouse or tall building. according to the united states department of agriculture, this technology has seen considerable growth in the past few years, with u.s. vertical farming market reaching almost us$ 187 mn in 2018.like many other sectors, the vertical farming market in the u.s. has been heavily impacted by coronavirus19 (covid-19). while production has been hindered in certain areas, the demand for locally grown produce has increased, pushing vertical farmers to meet this demand swiftly. looking forward, with the rise in urban populations, as well as climate-related issues, the demand for high-value vertically-farmed products is expected to continue growing over the next decade.to capitalize on opportunities in the u.s. vertical farming market, players must implement strategies to keep up with technology advancements, gain consumer trust, and also be able to efficiently manage their operations. the market is highly fragmented, with large numbers of start-ups and mid-level players, as well as one or two market leaders. this has created stiff competition, and as such, corporations in the space must develop better strategies to gain customer loyalty.in the future, the demand for vertical farming products is expected to increase further, particularly as more consumers look towards more eco-friendly and nutritious food productions systems. the need for a better environment and sustainable food systems will be the primary drivers for the growth in demand in the u.s. vertical farming market over the next twelve years.in conclusion, the u.s. vertical farming market is poised for significant growth in the coming years, due to the increasing demand for healthier produce, population growth, and a desire to combat climate change. companies in the field, should be aware of not just immediate consumer needs, but also emerging trends and technology to leverage the opportunities in the market.
