ACTX Active in the Global Vertical Farming Market - Projected to Grow to $26.37 billion by 2030, a CAGR of 24.42%

Rhea-AI Summary

Advanced Container Technologies (ACTX) is gaining recognition as the exclusive distributor of GrowPods, highlighted in a recent report as a top player in the vertical farming sector. The vertical farming market is projected to exceed $27 billion by 2030, with a CAGR of 24.42%, according to Spherical Insights. Grow Pod Solutions was listed among major contributors in the vertical farming landscape, emphasizing the growing demand for sustainable agricultural practices. CEO Douglas Heldoorn expressed optimism regarding the flourishing market and business opportunities.

Positive

• ACTX is recognized as the exclusive distributor of GrowPods, enhancing its market position.
• The vertical farming market is projected to grow to over $27 billion by 2030 at a CAGR of 24.42%.
• Grow Pod Solutions is listed among top companies in vertical farming, validating ACTX's association.

Negative

• None.

The company is the exclusive distributor of GrowPods by Grow Pod Solutions, ranked in new report as one of the top companies in vertical farming

CORONA, Calif., April 5, 2023 /PRNewswire/ -- Advanced Container Technologies, Inc. (Ticker: ACTX), announced that it is in an industry projected by Spherical Insights to grow to over $27 billion by 2030 at a CAGR of 24.42%.

Grow Pod Solutions, the company that manufactures GrowPods, is listed as one of the "Top  Companies Leading in Vertical Farming" in a report by Emergen Research.

According to EY (Ernst & Young), the world's food system is at a tipping point. Changing consumer food preferences are fueling the shift from a commodity-driven supply chain, to a personalized ag ecosystem.

The "Vertical Farming Global Market Report 2023" published by The Business Research Company, lists Grow Pod Solutions as one of the "major players in the vertical farming market."

The market is growing at a fast rate for several reasons, including that water and nutrient efficiency is quite high in hydroponics, according to the BBC.  Additionally, vertical farms can reduce the need for pesticides.

"The technology can also allow crops to grow in locations where conventional farming is not possible," the BBC reported. "Food can be grown near to cities. Shorter supply chains could improve both food security and the quality of food, since the faster food reaches us, the less its nutrients deteriorate and the less unseen toxins develop."

Douglas Heldoorn, CEO of ACTX, takes a pragmatic view of the rapidly growing industry.

"As I've often said, we are in the right market, with the right products, at the right time," he said. "We look forward to the future and the many business opportunities that this market will provide."

GrowPods are designed and manufactured in America, and can be configured to grow the finest quality hemp, vegetables, and leafy greens.

For information on GrowPods, call ACTX at: (951) 381-2555 or visit: www.AdvancedContainerTechnologies.com

Forward-Looking Statements

This release contains forward-looking statements made under the "safe harbor" provisions of U.S. Securities Acts. Forward-Looking Statements involve risks and uncertainties, and actual results can differ. Readers are cautioned not to place undue reliance on forward-looking statements. ACTX undertakes no duty to update information in this release except as required.

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SOURCE Advanced Container Technologies, Inc.

FAQ

What is the market size projection for vertical farming by 2030?

The vertical farming market is projected to exceed $27 billion by 2030.

What is the CAGR for the vertical farming market according to ACTX's recent announcement?

The CAGR for the vertical farming market is projected at 24.42%.

Who is the exclusive distributor of GrowPods?

Advanced Container Technologies (ACTX) is the exclusive distributor of GrowPods.

What major recognition did Grow Pod Solutions receive?

Grow Pod Solutions was recognized as one of the top companies in vertical farming.

Who is the CEO of Advanced Container Technologies?

Douglas Heldoorn is the CEO of Advanced Container Technologies.