Indoor agriculture isn’t a recent phenomenon, with roots dating back loosely to 1951 in Armenia, according to Vertical Farming Planet. But it’s continuing to grow and is expected to have a larger boom in the future.
By 2027, the global vertical farming industry should reach $1.38 billion, according to Allied Market Research, with a CAGR of 26.2% from 2021 to 2027. It’s an eye-catching number that seed companies, farmers and investors alike are all keeping their eye on. But what’s happening in the sector right now?
From June 23-24, the Indoor AgTech Innovation Summit will meet for the first time in-person after three years in Brooklyn, New York, to discuss just that.
As vertical farming and indoor agriculture continues to grow, this summit hopes to answer the question: what is needed from a political, financial and technological standpoint for indoor growing to be seen as the most sustainable way of feeding our cities? Speakers from across the globe will join together to tackle key points, such as:
- Regenerating Cities
- Tackling Labor Shortages
- Reducing Costs & Energy Usage
- Plant Science & Seed Optimization
- Beyond Leafy Greens
- Finance & Investment
- Scalability and Profitability
- Communicating with the Consumer
- Collaboration & Partnership
But in the end, why does it matter?
Indoor agriculture represents approximately 1.5% of U.S. leafy greens retail sales, according to Jason Green, CEO and Co-Founder of Upward Farms, one of the speakers of the Indoor AgTech Innovation Summit. Green will be joining the Crystal Ball Session on June 24 ‘How Will the Industry Shape Up in 5-10 Years?’ With that percentage, it’s obvious why the industry needs to look to the future and how indoor agriculture is shaping up.
When it comes to the biggest challenge he sees in the industry and for his own company, it’s supply and demand and sustainability goals.
“Consumers love our products and demand continues to outpace supply,” he said. “Even as a rapidly growing business, our biggest challenge is to continue to scale up production while maintaining our uncompromising commitment to quality, safety and sustainability.”
Want to hear more from different experts before the summit? Make sure to visit their news archives for more sneak peaks, and don’t forget to register and save your seat.
