According to research by Insight Partners, as cited by FutureFarming, the indoor agriculture market (vertical farming) is expected to grow, with an estimated value of $19,864.8 million USD by 2028.

Remarkable Growth:

The vertical farming market is anticipated to expand from $4,300 million USD in 2021 to $19,864.8 million USD by 2028. It is estimated to grow at a Compound Annual Growth Rate (CAGR) of 24.4% between 2021 and 2028.

Over the years, the vertical farming market has experienced significant growth. Increased awareness of the benefits of vertical agriculture is a key driver of this expansion.

Vertical farming is weather-independent, allowing farmers to achieve consistent annual crop production without concerns about unfavorable weather conditions. Additionally, it enables higher crop yields on a smaller land footprint. Compared to traditional agriculture, vertical farming has a yield that is approximately 240 times higher, while requiring 99% less land and 98% less water.

Vertical Farming Technologies:

The emergence of advanced vertical farming technologies, powered by artificial intelligence, which help reduce land and water consumption, continues to substantially boost the growth of this market. Moreover, the increasing demand for sustainable agricultural ecosystems will continue to drive the demand for vertical farming in the coming years.

The Global Vertical Farming Market Research Report up to 2028, conducted by Insight Partners, offers insights and summarizes the evaluation results in the vertical farming market for a global perspective. The report provides an analysis of the vertical farming market based on growth mechanism, components, and geography. It presents the current market size, defines trends, and offers growth forecasts from 2019 to 2028. The historical years considered for this study are 2019, the base year is 2020, and the forecast period for the entire report is from 2021 to 2028.

Aerospring Hydroponics Expands into Commercial Agriculture:

Aerospring Hydroponics, an eight-year-old company based in Singapore, has announced its expansion into commercial agriculture. In commercial farms, Aerospring systems use up to 90% less water, grow three times faster, and produce ten times more products than traditional farming methods. Aerospring hydroponic systems employ low-pressure aeroponic technology, suspending plant roots in a closed environment while irrigating them with nutrient-enriched water. This innovative method results in faster plant growth, healthier crops, and larger harvests while using fewer resources. Aerospring hydroponic farms are easy to manage and maintain, easy to clean, and offer efficiency to commercial farmers.

Affordable Sustainability is what our business is all about," says Mark Newton, COO of Aerospring. "Bringing Aerospring technology into the commercial farming industry is a game-changer. Commercial farmers can dramatically increase their production in the same physical space while using fewer resources, thereby increasing profitability."

"Our systems bring scalability to modern farms," says Thorben Linneberg, co-founder and CEO. "The Aerospring system is modular and can be built at different heights. As such, implementing Aerospring systems allows commercial farms to customize the capacity of each vertical column to meet their yield goals. Furthermore, it is so easy to install, clean, and maintain that it truly provides extraordinary farm efficiency while delivering very high yields."

First Controlled Indoor Farming Unit in a Prison:

AmplifiedAg Inc., an indoor agriculture company, received approval from South Carolina legislators last week to build the first controlled indoor farming unit in a U.S. prison, according to Agriculture Dive. The unit will allow inmates at the Camille Griffin Graham Correctional Institution in Columbia to grow and process their own fresh salad greens, which will be served in the prison cafeteria. This initiative, which also provides career training, is a partnership with the South Carolina Department of Corrections and the Department of Agriculture.