Exclusive vertical farming content delivered straight to you? Sign up here.
Lettuce dies in droughts. Unless you’re a vertical farmer.
Rosemont is doing it right and we’re looking forward to the day when the rest of the world catches up.
That world is still stuck in the old paradigm of thoughtless consumerism. The original definition of consumer is “one who destroys, or expends by use; devours, spends wastefully.” We would need 7 more planet Earths if everyone consumed at the rate of an average American. Bringing the same idea closer to our food system, it has been estimated that the true social and environmental cost of a hamburger when the forest has been cleared to create pastureland for grazing cattle is two hundred dollars.
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.