Vertical farming is going to make people money. It is one of the fastest growing segments of the ag tech industry. The global vertical farming market is estimated to have been $1.15 billion in 2015 and some market researchers say it is poised to reach $6.31 billion by 2022.
With any sort of market report, it’s always super hard to verify if their information is good. It’s also very difficult to know if analysts are setting appropriate parameters for defining and calculating what that market is. However, Wise Guy Reports new analysis shows fairly large growth. (Editor’s note: I do not recommend buying this report, but it is useful to signify market growth)
To put all of this in perspective with the conventional greenhouse industry, just the market for the plastic film used for high tunnels and some types of greenhouses is estimated to grow to $4.7 billion in the same period of time. Many large-scale greenhouses aren’t even made out of plastic!
So, vertical farming is almost trivial compared to the global greenhouse market despite the fact that there is some overlap.