The urban farming industry has seen significant growth over the past few years. This trend is largely driven by increased consumer interest in sustainability and local food production, as well as by the growing recognition of the potential for urban farming to improve food security in cities.
According to a report by Grand View Research, the global urban farming market size was valued at USD 69.8 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 9.3% from 2019 to 2025. The report indicates that the increasing adoption of independent farming practices, coupled with the rising demand for organic products, is expected to drive the market.
While the industry's growth is promising, it's also worth noting that succeeding in urban farming requires overcoming some unique challenges. These include space limitations, high initial investment costs, and the need for specialized knowledge and skills. Nonetheless, for entrepreneurs who can effectively address these challenges, the urban farming industry presents a promising opportunity.
Urban farming and local food production is a growing trend. A business that offers solutions for growing food in small, urban spaces could fill a unique niche.