Global Aeroponics Market is segmented By Application(Outdoor Farming, Indoor Farming ), By Component(Climate Control, Irrigation Component, Building Material, Lighting, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Aeroponics Market Size
The Global Aeroponics Market reached USD 955.2 million in 2022 and is projected to witness lucrative growth by reaching up to USD 3,867.1 million by 2031. The market is growing at a CAGR of 19.1% during the forecast period (2024-2031).
The aeroponics market has been growing as more people become interested in sustainable agriculture and indoor farming. With limited arable land and increasing urbanization, many farmers and entrepreneurs are turning to indoor farming to grow crops. Aeroponics is a popular choice for indoor farming as it requires less space and resources than traditional farming methods which boosts the aeroponics market growth. Aeroponics allows for the production of fresh, locally grown produce year-round, which is appealing to many consumers and rises the aeroponics market growth.
Market Summary
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Metrics |
Details |
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CAGR |
19.1% |
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Size Available for Years |
2022-2031 |
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Forecast Period |
2024-2031 |
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Data Availability |
Value (US$) |
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Segments Covered |
Application, Component, and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
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Fastest Growing Region |
North America |
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Largest Region |
Europe |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Declining Agricultural Land is Driving the Aeroponics Market Growth
Less water consumption, minimum utilization of land, minimum manpower, pesticide-free and organic product are the key characteristics of aeroponic farming which is expected to drive the aeroponics market growth over the forecast period. Aeroponic cultivation methods that are used in most vertical farms consume 90% less water than conventional agriculture, which helps grow various crops in drought-affected countries. The controlled environment of this technique can produce more than 70% higher yields than conventional farming. Hence, Declining agricultural land is driving the aeroponics market growth.
The High Initial Investment in Aeroponics Hamper the Market Growth
High initial investment costs can be a significant restraint on the growth of the aeroponics market. Setting up an aeroponic system can be expensive due to the need for specialized equipment, such as high-pressure misting nozzles, pumps and controllers.
Additionally, the cost of setting up a climate-controlled environment, such as a greenhouse, can also be significant. These high initial costs can be a barrier for some potential customers, especially smaller growers or those who are just starting.
Market Segment Analysis
The global aeroponics market is segmented based on growth application, component, and region.
The High Degree of Control, Flexibility and Efficiency in Indoor Farming
Based on application, the aeroponics market is classified as indoor farming and outdoor farming. In 2022, indoor farming held the highest share of the aeroponics market. Indoor farming decreases the farming impact on the environment and enhances crop yield by lessening the long-traveled supply of commodities.
One acre of an indoor space provides equal production to at least 4-6 acres of outdoor land. Over the previous 40 years, around 30% of cultivated arable land is lost owing to destructive practices, including pollution and urban encroachment, that affect both poor soil health and topsoil erosion.
Source: DataM Intelligence Analysis (2023)
Market Geographical Share
Rising Indoor Farming in North America is Expected to Drive the Market Growth
By geography, North America holds the highest market share of the global aeroponics market in 2020 and is anticipated to be the largest regional market during the projected year. This is owing to indoor farming, which is being widely adopted in North America for the past two decades.
Living Greens Farm (LGF) operates one of the largest indoor aeroponic farms in the United States. Living Greens Farm is built with 60,000 square feet of indoor space to grow various types of vegetables and fruit. The living green farm can produce more than 3 million heads of superior-quality lettuce.
Source: DataM Intelligence Analysis (2023)
Companies and Competitive Landscape
The major global players in the market include AeroFarms, CombaGroup SA, AERO Development Corp, Ponics Technologies, BrightFarms Inc, Freight Farms, Evergreen Farm Oy, Living Greens Farm, LettUs Grow, Altius Farms.
COVID-19 Impact on Market
COVID-19 Impact
Limited consumer and corporate spending, lockdown measures, and supply chain disruptions have impacted the growth of the aeroponics market in the year 2020. The market saw a decline in the year 2020, due to the closure of multiple SMEs, logistic disruptions, lockdowns and other problems arising due to the COVID-19 pandemic. On the other hand, due to increasing health consciousness among consumers, vertical farming with aeroponics is gaining huge growth as vertical farms control everything from seed to store.
Russia-Ukraine War Impact
The Russia-Ukraine war has potentially impacted the global aeroponics market indirectly, through disruptions in supply chains and transportation, which could affect the availability of equipment and inputs necessary for aeroponic farming. Additionally, the economic uncertainty caused by the conflict could affect consumer spending on high-tech farming solutions, including aeroponics.
Key Developments
- In February 2023, Green Life Company, introduced its innovative smart agriculture project utilizing Aeroponic technology for air farming in Kuwait
- In March 2022, Aeroponics Integrated Systems Inc., a supplier of proprietary aeroponics systems for the cultivation of various crops, entered a contract to acquire Glorious Creation Limited in a reverse merger deal for CAD 12.6 million.
- In March 2021, AeroFarms, a provider of agricultural products and services. merger with Spring Valley Acquisition Corp.
Why Purchase the Report?
- To visualize the global aeroponics market segmentation based on application, component, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of the global aeroponics market level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The Global Aeroponics Market Report Would Provide Approximately 53 Tables, 48 Figures and 200 Pages.
Target Audience 2024
- Manufacturers / Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
