The global vertical farming market was valued at $5.50 billion in 2020 and is projected to reach $19.86 billion in 2026, following a CAGR of 24.3% during 2021-2026. 

The market growth is highly impacted by the shift of population from rural to urban areas, and the declining size of arable land, among others. Apart from this, the market is also driven by factors such as its advantages over conventional farming, advancements in light-emitting diode (LED) technology, and high quality and high level of food safety assurance