ACTX Releases Forecast on Controlled Environment Agriculture Industry

Rhea-AI Summary

Advanced Container Technologies, Inc. (ACTX) highlights the promising future of the Controlled Environment Agriculture sector, including Vertical Farming and its GrowPods. The global vertical farming market is projected to reach nearly $20 billion by 2029, growing at a CAGR of 24.30%. Factors driving this growth include the need to double food supply amid declining arable land. Indoor farming technologies can enable year-round food production while minimizing costs associated with traditional agriculture. Major retailers like Walmart and Kroger are embracing these innovations, indicating strong market interest.

Positive

• Projected growth of the global vertical farming market to nearly $20 billion by 2029.
• Controlled Environment Agriculture addresses food supply challenges amid decreasing arable land.
• Partnership interest from major retail chains like Walmart and Kroger.

Negative

• None.

Controlled Environment Farming is "growing like a weed"

CORONA, Calif., Jan. 17, 2023 /PRNewswire/ -- Advanced Container Technologies, Inc (Ticker: ACTX), said the Controlled Environment Agriculture sector, which includes Vertical Farming and the company's own unique, portable indoor farms called GrowPods, have a bright future.  

As reported by Morning Brew, vertical farming is "growing like a weed" and by 2029, could become a nearly $20 billion market worldwide with a CAGR of 24.30%, according to BIS Research.

What is fueling this growth?

According to a recent article in the investment publication, The Motley Fool, "With the global population continuing to expand, the world will need to double its food supply over the next three decades," they write. "That's a daunting task, as arable land shrinks due to climate change, urban sprawl, and soil destruction. At the current pace, farmable land could fall 50% by 2050," they add. "Since it's become more challenging to find additional farmland to meet our growing food needs, farmers are starting to go vertical."

This thought is echoed by an article in Digital Trends, which said: "Agriculture has come a long way in the past century. We produce more food than ever before — but our current model is unsustainable, and as the world's population rapidly approaches the 8 billion mark, modern food production methods will need a radical transformation if they're going to keep up. But luckily, there's a range of new technologies that might make it possible."

How it works:

Quoting Digital Trends, "Indoor farms allow us to grow food 24 hours a day, protect crops from unpredictable weather, and even eliminate the use of pesticides, fertilizers, and herbicides. If these farms were built in cities, we could mitigate crop loss due to shipping and storage, and cut down on fossil fuel usage because food wouldn't need to be transported very far after harvest."

In his seminal book, The Vertical Farm: Feeding the World in the 21st Century, Columbia Professor, Dr. Dickson Despommier, said indoor farming is a world-changing innovation whose time has come.

Despommier's visionary book explains how controlled environment farms will have change the face of this planet for future generations.

Controlled Environment farms allow users to:

• Grow food 24 hours a day, 365 days a year
• Protect crops from harsh weather
• Reduce and re-use water
• Provide jobs for local residents
• Eliminate pesticides, fertilizers, and herbicides
• Prevent crop loss due to shipping or storage
• Stop agricultural runoff

Endorsed by Retailing Giants

According to Forbes, companies including Walmart, Kroger, Albertsons, Whole Foods and Target are embracing indoor farming.

Walmart writes on its website: "Vertical farming supplements traditional farming practices to help increase food supply and alleviate current challenges on the food system in a sustainable way."

Doug Heldoorn, CEO of ACTX, said GrowPods are transportable and scalable, so fresh, nutritious food can now be available on a consistent basis virtually anywhere in the world.

"GrowPods allow grocers, businesses, non-profits, local communities, and big box retailers the means to grow healthy food, year-round," he said. "Controlled Environment Farming is no longer just an idea... it's the future of our planet."

For information on GrowPods, or for a free quote on obtaining a CEA system, call (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.

View original content:https://www.prnewswire.com/news-releases/actx-releases-forecast-on-controlled-environment-agriculture-industry-301723623.html

SOURCE Advanced Container Technologies, Inc.

FAQ

What is the growth forecast for ACTX's vertical farming sector?

The vertical farming market is expected to reach nearly $20 billion by 2029, with a CAGR of 24.30%.

How does Controlled Environment Agriculture help with food supply issues?

It allows for year-round food production in urban areas, reducing dependency on traditional farming methods as arable land decreases.

Which major retailers support vertical farming initiatives?

Companies such as Walmart, Kroger, Albertsons, Whole Foods, and Target are embracing indoor farming technologies.

What are GrowPods and their benefits?

GrowPods are portable, scalable indoor farms that offer year-round food production, eliminate the need for pesticides, and reduce water use.

What risks are associated with ACTX's forward-looking statements?

Forward-looking statements contain risks and uncertainties, and actual results may differ significantly from predictions.