GITNUX MARKETDATA REPORT 2024

Vertical Farming Industry Statistics [Fresh Research]

With sources from: technavio.com, prnewswire.com, atlascorps.org, agritecture.com and many more

In this post, we will explore a comprehensive set of statistics surrounding the vertical farming industry. From the significant growth projections to the environmental benefits and technological advancements, these data points shed light on the promising future of vertical farming on a global scale. Get ready to delve into the world of vertical farming and uncover the compelling statistics driving this innovative agricultural sector.

Statistic 1

"By 2026, the global market for vertical farming is expected to reach over $12 billion."

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Statistic 2

"Indoor farming uses 95% less water than traditional farming techniques."

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Statistic 3

"Vertical farms can be 390 times more productive per square foot than traditional farming."

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Statistic 4

"Europe Vertical Farming market is anticipated to reach over $2 billion by 2026."

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Statistic 5

"Vertical farming can produce 44,000 pounds of tomatoes on a single acre, compared to traditional farming’s 10,000 pounds."

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Statistic 6

"Vertical farming allows for year-round crop production regardless of weather conditions."

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Statistic 7

"Leafy greens account for almost 57% of the total crop production in vertical farming."

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Statistic 8

"Hydroponics is the most preferred growth mechanism in the vertical farming industry."

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Statistic 9

"Lighting in vertical farming accounts for a significant amount – around 38% – of the total operating cost."

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Statistic 10

"The global vertical farming market size was valued at USD 2.23 billion in 2018."

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Statistic 11

"The compound annual growth rate (CAGR) of the vertical farming market is projected to be nearly 21% from 2020 to 2025."

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Statistic 12

"The usage of LED lights in vertical farming has increased the crop yield by up to 50%."

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Statistic 13

"U.S. vertical farming market size is expected to reach USD 3.9 billion by 2024."

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Statistic 14

"Within Asia, In 2018, Singapore had over 139 rooftop farms."

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Statistic 15

"Carbon emissions from vertical farming are up to 70% lower than traditional farming."

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Statistic 16

"Majority (56%) of vertical farmers report positive ROI within 5 years."

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Statistic 17

"NYC-based indoor vertical farming company “Bowery” has raised $172.5 million in private funding."

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Interpretation

Vertical farming is a rapidly growing industry with immense potential for revolutionizing agricultural practices. The global market is projected to soar to over $12 billion by 2026, driven by significant advantages such as 95% less water usage, 390 times higher productivity per square foot, and the ability to produce substantially higher yields compared to traditional farming methods. With key regions like Europe and the U.S. poised for substantial growth, vertical farming's year-round production capabilities and reduced carbon emissions make it an attractive and sustainable solution for the future of farming. Additionally, advancements such as LED lighting have proven to significantly boost crop yields, while the majority of vertical farmers are seeing positive returns on investment within a relatively short timeframe.

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