After a successful two-day trade fair, the Indoor AgCon closed its doors on February 28. With a proper balance between CEA players, cannabis-, greenhouse- or vertical farm companies, the show has welcomed more than 1500 visitors. The exhibitor floor was mainly occupied by suppliers and visited by either farmers, investors, and interested parties.
Click here to view our photo report.
A special thanks to Suzanne Pruitt and Brian Sullivan, organizers of the show!
So what's going on in the US market - a market that has been 'the promised land' for many suppliers. Well, they also have noticed a drop in investments which makes it slightly worrying about what this year might bring. The number of projects being realized is still at pace, but the new investments made in the industry seem slightly delayed, due global trends. Yet, with new projects on the horizon, hopes are high, but will these projects be getting paid for?
Olivier Paulus and Alexandre van Deun with Vertiberry mentioned they see some promising projects in North America for their indoor strawberry solutions.
Vertical farming: is the US most promising?
The overlap of greenhouse suppliers that are involved with vertical farming was definitely clear again at the show. There have been whispers of new projects in vertical farming. For instance, Hoogendoorn is very excited to share that they have a new project to announce soon.
Globally, the vertical farming sector has undergone some pressure because of increasing operating expenses, which makes it rather challenging for operators to obtain proper margins in order to cover costs. Yet, the North American market has seen recent investments in R&D, and companies and retail still eye some promising potential.
Would it be that the US could be the most potential market for products such as mixed lettuces, e.g., as Europe has not seen large market shares for that yet?
However, let's not stick to pessimism too much. During the fair, there were various new projects announced. Either new vertical farms, collaborations, and new products that are soon to enter the market. Many are seeing the current 'hiccups' as a time for the market to get real in terms of investments, OpEx, and product development.
David Story, Morris Brink, and Wil Lammers with Ridder showing off their Ridder ecosystem in the infographic.
Well, it's time to see who was present. Click here to view our photo report.
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