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Pune, India, April 01, 2021 (GLOBE NEWSWIRE) -- The global
vertical farming market size is projected to reach USD 12.04 Billion by 2026. Increasing technological advancements have allowed improved efficacies as well as enhanced output. According to a report published by Fortune Business Insights, titled "
Vertical Farming Market Size, Share & Industry Analysis, By Type (Hydroponics, Aeroponics, and Aquaponics), By Structure (Building-Based, Shipping-Container), By Component (Lighting System, Irrigation and Fertigation System, Climate Control, Sensors, and Others) and Regional Forecast, 2019-2026," the market was worth USD 2.13 billion and will exhibit a CAGR of 24.8% during the forecast period, 2019-2026.
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Vertical farming is a type of indoor as well as outdoor farming that is used to produce food and medicinal plants. These farms are set up with the aim of growing food in a challenging environments. The primary aim of vertical farming is to maximize the area per square meter. A vertical farming system involves the use of artificial temperature, light, humidity, and other gases. The constantly rising global population, coupled with the growing demand for plants and other vegetation. The increasing adoption of vertical farming is attributable to the growing demand for environment-friendly ways of producing vegetables and fruits. Increasing concerns regarding organic food will contribute to the growing demand for vertical farming.
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