The European vertical farming market is forecast to exceed USD 3.23 billion between 2024 and 2029, supported by growing investments in sustainable farming and urban agriculture sol
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All crops grown via vertical farming methods are usually over 95% water efficient compared to crops grown through conventional agricultural processes. Instead of growing crops horizontally on the field, this technology grows crops in vertical and stacked layers without impacting water and land resources. Due to increasing industrialization across the European region, many arable lands are at greater risk. This soilless farming technique has gained a lot of traction in Europe. Furthermore, because most crops are grown without the use of pesticides, it contributes to better public health over time; thus, consumers can expect zero-pesticide produce. In Europe, various plant factories are typically referred to as "vertical farms." Moreover, it is a young, dynamic, and ever-changing sector across the region. The number of vertical farms in Europe is relatively small, but this sector is increasing rapidly. Europe has been at the forefront of implementing advanced technologies into the vertical farming industry. The European Union (EU) promotes alternative and sustainable agriculture practices. In 2018, the EU presented the proposal for the Common Agricultural Policy (CAP) reform that introduces a new way to modernize and simplify the EU’s agriculture policy. Similarly, the EU has invested in long-term projects to promote urban agriculture across the region.
According to the research report, "Europe Vertical Farming Market Outlook, 2029," published by Bonafide Research, the Europe Vertical Farming market is anticipated to add to more than USD 3.23 Billion by 2024–29. The major driving forces for the European market are the growing consumer demand for organic foods and genetically modified organisms (GMOs). In addition to that, an increase in new start-ups across the region has led to a rise in major investments. For instance, Nordic Harvest A/S (Denmark) has established a huge 7000 m2 production plant consisting of rows of green salads and herbs that rise to 14 levels. This is considered to be the largest vertical farm in the European region. Further, the European region is segmented into six prominent countries, including Germany, the United Kingdom, France, Spain, Italy, and the Netherlands. Among these countries, the United Kingdom is anticipated to lead the European market during the forecast period. Vertical farming technology has gained a lot of momentum across the UK in recent years as vertical farms are being set up in various cities across the country. Furthermore, private and public funds are heavily invested in alternative farming in the United Kingdom, with the goal of promoting and integrating vertical farming into urban areas. Edinburgh-based company Shockingly Fresh has opened a vertical farm in Oldham and has many more plants to open such vertical farms across the country. Also, plans for a huge 32-acre site in West Calder, Scotland are now moving ahead. This facility is anticipated to produce around 30 million plants each year, and it could be the largest vertical farm in the UK. On the other hand, a new multi-million pound farm is being built in Lydney in Western England. This farm will offer 148,000 square feet of growing space. It will be approximately the same size as almost seventy tennis courts and able to supply 1000 tonnes plus of fresh products to thousands of UK superstores.
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