How the pandemic has accelerated the next generation of farming

The food service industry is betting big on vertical farming as the pandemic ushers in a heightened awareness of food safety and cleanliness. Vertical farming, or the practice of cultivating crops in vertically stacked shelves and often in a controlled indoor environment, allows produce to be shipped to grocery stores, restaurants and other dining services in a matter of minutes. A new report by Allied Market Research shows that the global market for vertical farming crops is projected to reach $1.38 billion by 2027 with a compounded annual growth rate of 26.2% from 2021 to 2027. Last year alone, the industry was estimated to be around $212.4 million. Amid the trajectory for growth, the coronavirus outbreak has accelerated the demand for fresh and locally grown produce. And as restaurants reopen, vertical farming has provided an innovative way to serve customers and ensure clean food. “The pandemic has certainly shed light on the fact that everybody is very aware of cleanliness and safety, and food is no exception,” CEO of Kalera Daniel Malechuk told FOX Business. “What vertical farming can offer is something that is local, something that hasn’t been in a journey to get to the end  or touched by a significant number of people and something that is grown in a clean room where the product is not subject to harmful elements or exposure.” Kalera, an indoor vertical farming company with hydroponic technology, is on track for rapid growth, particularly in high dense urban markets. After opening the largest vertical farming facility in Texas, the ag-tech company has plans to expand to Atlanta where it will be the highest production volume vertical farm in the Southeast, as well as Denver by 2021. Aside from its typical operations providing lettuce and microgreens to theme parks and restaurants, Kalera has also entered the grocery space marked by a deal with Publix that went into effect in April...MORE