Optimism about the growth of indoor farming

Vertical Farming Market is expected to reach $ 19,864.8 million by 2028

The vertical farming market is expected to grow from $ 4,300 million in 2021 to $ 19,864.8 million by 2028. It is estimated to grow at a CAGR of 24.4% from 2021 to 2028.

Over the years, the vertical farming market has picked up significant momentum. The rising awareness pertaining to the benefits of vertical farming is a key factor driving this growth. Since vertical farming is independent of weather, it allows farmers to achieve a consistent annual crop production without having to worry about adverse weather conditions. Moreover, it enables them to yield more in a small area. Compared to conventional farming, vertical farming yields ~240-times greater while requiring 99% less land and 98% less water.

The emergence of next-generation, AI-powered vertical farming technologies that can help reduce the consumption of land and water further is boosting the growth of this market substantially. Moreover, increasing demand for sustainable agricultural ecosystems will continue to boost the demand for vertical farming in the coming years.

The research report Global Vertical Farming Market to 2028 provides insights and summarizes the results of the assessment carried out by The Insight Partners in the field of vertical farming market for global perspective.

The report provides an analysis of the vertical farming market by growth mechanism, component, and geography. The report provides the current market size for vertical farming market, defines trends and presents growth forecasts from 2019 to 2028. The historical years considered for this study is 2019, base year is 2020, and the forecast period for the entire report is 2021 to 2028.

Aerospring Hydroponics launching into commercial farming

Aerospring Hydroponics, an eight-year-old Singapore-based company, has announced it is launching into commercial farming.

In the commercial farm setting, Aerospring systems use up to 90% less water, grow 3 times faster, and grow 10 times more produce than more traditional farming methods. Aerospring Hydroponic systems leverage low-pressure aeroponic technology. Aeroponics is the process of suspending plants roots in a closed environment while irrigating them with nutrient enriched water. This innovative method results in faster growth, healthier plants, and bigger yields — all while using fewer resources. Aerospring Hydroponic farms are easy to manage and maintain, easy to clean, and deliver efficiencies for the commercial farmer.

“Accessible sustainability is what our business is all about,” says Mark Newton, COO Aerospring. “Bringing Aerospring’s technology to the commercial farm industry is game-changing. Commercial farmers can dramatically increase their output in the same physical space, while applying fewer resources, thus increasing profitability.”

“Our systems bring scalability to the modern farm,” says Thorben Linneberg, Co-Founder and CEO.. “The Aerospring system is modular and can be built to various heights. As such, the application of Aerospring systems allows the commercial farm to customise the capacity of each vertical pole to meet their yield targets. In addition, it is so easy to set-up, clean and maintain, it really brings tremendous efficiency to the farm, while also delivering very high yields.”

First controlled indoor agriculture facility at a prison

Indoor farming company AmplifiedAg Inc. received signoff from South Carolina lawmakers last week to build the first controlled agriculture facility at a prison in the U.S., according to Agriculture Dive.

The facility will allow inmates at the Camille Griffin Graham Correctional Institution in Columbia to grow and process their own fresh lettuce, which will be served at the prison’s cafeteria, according to a news release. The initiative, which also provides career training, is a partnership with the South Carolina Department of Corrections and Department of Agriculture.

The $ 1.2 million facility will consist of eight total farming modules and will be capable of growing 48,000 pounds of lettuce a year. Inmates will receive experience in all aspects of vertical farm production including food processing and packaging.