- The global indoor farming market projected to grow from $26.5 billion in 2021 to $62 billion by 2030
- Report indicates that United States holds major share in terms of revenue in North America indoor farming market
- Grow Pods offered through ACTX provide a controlled environment, ability to grow year-round
The newest projections for the global indoor farming sector are in, and the numbers bode well for Advanced Container Technologies (OTC: ACTX). ACTX is the exclusive U.S. distributor of Grow Pods, environmentally controlled micro-farms that allow cultivation of ultra-clean crops all year long.
“The study undertaken by Astute Analytica foresees a tremendous growth in revenue of the market for the global indoor farming market from US$26.5 billion in 2021 to US$62 billion by 2030,” a recent PR Newswire report states (https://ibn.fm/DUwJn). “The market is anticipated to grow at a CAGR of 10.1% during the forecast period 2022–2030.
The article notes that indoor vertical farming is defined as the practice of growing produce stacked one above another in a closed, controlled environment. “Growing crops on vertically mounted shelves significantly reduces the amount of land space needed to grow plants compared to traditional farming methods,” the article observes.
“Vertical farms are unique in the sense that some setups do not require soil for plants to grow,” the article continues. “Most are either hydroponic, where vegetables are grown in a nutrient-dense bowl of water, or aeroponic, where the plant roots are systematically sprayed with water and nutrients. Moreover, vertical farms use smart sensors to monitor technical variables including temperature, carbon dioxide, oxygen, lighting, humidity, nutrient concentration, pH, pest control, irrigation and harvesting.”
The Astute Analytica report showed that the United States holds the major share in terms of revenue in the North America indoor farming market, with projections to grow with the highest CAGR during the forecast period. “Moreover, developed countries such as U.S. and Canada are the rapid and early adopters of indoor farming technologies,” the article said. “Furthermore, based on the growing system, the hydroponics segment holds the highest share in the North America indoor farming market in 2021 as it reduces the amount of space and water required for cultivation.”
Offering the ability to grow high-quality crops anywhere, the Grow Pods offered through Advanced Container Technologies provide a controlled environment and the ability to grow year-round. The micro-farms also enable cultivation in a smaller footprint using less resources — huge advantages in a world where environmental and sustainability concerns are top priorities for consumers.
In November 2020, ACTX announced that it had entered into an agreement with Grow Pods manufacturer GP Solutions for the exclusive right to market, sell and distribute GP products in the United States and its territories (https://ibn.fm/AP3PQ). At the time of the agreement, GP Solutions president George Natzic stated that “we are very enthusiastic about this agreement and look forward to letting the experts at ACT handle sales and marketing while we focus on manufacturing new products, and expanding into new industries and territories.”
For more information, visit the company’s website at www.AdvancedContainerTechnologies.com.
NOTE TO INVESTORS: The latest news and updates relating to ACTX are available in the company’s newsroom at https://ibn.fm/ACTX
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