Urban agriculture or urban farming is becoming increasingly popular in cities and towns. People or individuals cultivate fresh fruits, flowers and vegetables in garden pots or backyards.
Even animal husbandry has become a part of this segment.
The global urban farming market is worth $210 billion in 2017. According to data by the United Nations Food and Agriculture Organization over 800 million people actively practice urban farming globally.
Asia-Pacific countries are responsible for 42% of the revenue that was generated. European and Northern American nations follow closely behind.
URBAN FARMING DURING COVID
When the pandemic hit and restrictions were imposed people needed something to do, many used this time to grow their own fruits and veggies.
Also not to forget that once lockdowns and restrictions were imposed panic buying took the world by storm. Several supermarket and grocery chains were emptied out. There wasn’t enough supply to meet the rising global demand for fruits and vegetables in many nations. This led to shortages and with the supply chain and logistics being impacted things got worse.
Panic buying surged the sale of seeds of various plants, trees, fruits, flowers and vegetables since many folks realized the importance and advantages of growing their own produce.
Baker Creek Heirloom Seeds in Mansfield, Missouri had over 10,000 orders, up ten times on what our normal would be.
BENEFITS OF URBAN FARMING
Urban farming gives a great sense of food security since its more nutritious and safe for consumption as its pesticide or herbicide free.
It also has the ability to reduce climate change impact. It also reduces the stress and damage to the land and environment by using residual food or wastes as compost. This helps keep garden soil more fertile.
This industry has the potential to produce approximately 180 million tonnes each year, that’s about 10% of the global output of veggies and pulses according to a study published in Journal Earth’s Future.
With a growing global population, food shortages are inevitable. This industry promises a sustainable way to increase produce levels in order to cater to larger populations in the long run.
This market is expected to rise to $288 billion by 2026 with an annual growth rate of 3%.