0
2019
Aeroponics Market

Aeroponics Market

by Application (Indoor Farming and Outdoor Farming) and Component (Irrigation Component, Lighting, Sensor, Climate Control, Building Material, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026

Report Code: A05779
Pages: 178
Oct 2019 | 12614 Views
Author(s) : Avinash S , Supradip B
Tables: 82
Charts: 48
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Aeroponics Market Outlook - 2026

The global aeroponics market was valued at $578.70 million in 2018, and is projected to reach $3.53 billion by 2026, growing at a CAGR of 25.60% from 2019 to 2026. Aeroponics is an indoor gardening practice in which plants are grown and nourished by suspending their root structures in air. The process requires regular spraying of nutrients in a water solution. Aeroponics offers an efficient means to grow plants, including fruits and vegetables, without the need to pot the plants in nutrient-rich soil. In aeroponics system, the roots of plants are misted with nutrients, water, and oxygen. Therefore, this process does not require any containers or trays to hold water. It is an effective and efficient way to grow plants as it requires less water and minimal space compared to traditional farming techniques.

Aeroponics system offers the possibility to enhance crop production and diminish costs compared to traditional farming methods or to any other alternate technique of farming. Aeroponics system successfully utilizes every vertical distance for either farming or production of the greenhouse. This technique does not need pesticides, in addition to zero harmful waste production. The controlled environment of aeroponics has the capability to produce approximately 70% more yield compared to traditional agriculture. The world’s biggest aeroponics farm is under construction, with 6400 m2 of cultivating space without soil.

Aeroponics Market

The world’s biggest aeroponics farm is under construction, with 6400 m2 of cultivated spaces without soil. The infrastructure is being developed by AeroFarms and is fueled by photo-voltaic panels, which is expected to produce over 2 million kg of vegetables per year. In addition, the UAE received its first vertical aeroponics farm on January 2018 from Indoor Farms of America, an American vertical farming industry. The farm is located in Dubai and is set to open for business in the coming months.

The demand for aeroponics industry is expected to increase rapidly during the forecast period, owing to rise in popularity of organic food and disease-free environment in the agriculture sector. The technologies used in this farming enable to keep track of plant growth and harvesting, which further drives the market growth. However, high initial investment is required for setting the indoor structure and lighting and irrigation systems. Also, the technologies involved in aeroponics farming are nascent, which is expected to have a negative impact on the market growth. Nonetheless, rise in urban population and surge in adoption of technology driven agriculture are expected to provide lucrative aeroponics market opportunities globally.

Aeroponics Market
By Component

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Climate control would exhibit the highest CAGR of 30.3% during 2019-2026.

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Segment Overview

The global aeroponics market trends are analyzed across various segments including application, component, and region. On the basis of component, it is categorized into irrigation component, lighting, sensor, climate control, building material, and others. Depending on application, it bifurcated into indoor farming and outdoor farming.   
The regional segmentation of the market includes North America, Europe, Asia-Pacific, and LAMEA. The European aeroponics market industry is expected to grow at the highest CAGR during the forecast period, owing to growth in concern over availability of water in certain parts, majorly in central and southern regions, rise in demand for organic foods and requirement of ensuring urban food security.

Top Impacting Factors

The significant impacting factors in the aeroponics market include increase in popularity of organic foods, limited arable land for traditional agriculture, and growing popularity of disease-less environment in agriculture. However, high initial investments and developmental phase of technologies used in the aeroponics market pose a major threat, thus, hamper the aeroponics market growth globally. Conversely, surge in adoption of technology driven agriculture and growth in urban population are projected to offer remunerative opportunities to the market. Each of these factors are anticipated to have a definite impact on the aeroponics market during the forecast period. 

Aeroponics Market
By Application

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Indoor Farming would exhibit the highest CAGR of 27.6% during 2019-2026.

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Increase in popularity of organic foods

Organic food refers to the products obtained through farming system that does not use synthetic fertilizers, pesticides, and growth regulators. In the present scenario, people across the globe have become increasingly aware about the source of food that they consume on a daily basis. This results in increase in demand for organic foods. For instance, in North America, the sale of organic food has witnessed significant growth over the past few years. 

Limited arable land for traditional agriculture

According to the United Nations Population Division (2009), the global population is expected to increase from about 6.9 billion in 2010 to 9.2 billion in 2050. Presently, the growth rate of global population is nearly 80 million per annum, which is a major concern, as habitable area of the Earth is limited to nearly 13 billion hectares. Therefore, people have shifted from traditional agricultural techniques to sustainable ways to cater to the increasing demand-supply gap. This is a major factor that drives the adoption of aeroponics farming across the globe as a sustainable, profitable, and ecologically healthy option of traditional farming.

Popularity of disease-free environment in agriculture

The modern idea of aeroponics farming uses indoor farming technique and controlled environment agriculture technology, where all environmental factors can be controlled. These facilities use artificial control of light, environmental control, and fertigation. Controlled environment has a strong potential to improve plant development stages, growth, and health. Usage of aeroponics farming significantly lowers the occupational hazards associated with traditional farming. Such competitive edge provided by aeroponics farming over traditional farming assists its market expansion.

Competitive Analysis

The key players profiled in the report include AeroFarms, Aeroponics (AERO Development Corp), BrightFarms Inc, Evergreen Farm Oy, LettUs Grow, CombaGroup SA, Altius Farms, Ponics Technologies, Living Greens Farm, and Freight Farms. These key players have adopted strategies, such as product portfolio investments, expansion, and product launch to enhance their position in the aeroponics market. 

Aeroponics Market
By Region

2026
Asia-pacific 
North America
Europe
LAMEA

Europe would exhibit the highest CAGR of 28.8% during 2019-2026.

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Key Benefits for Aeroponics Market :

  • This study comprises analytical depiction of the global aeroponics market size along with the current trends and future estimations to depict the imminent investment pockets.
  • The overall aeroponics market analysis is determined to understand the profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
  • The current aeroponics market forecast is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the aeroponics market industry.
  • The report includes the aeroponics market share of key vendors and market trends.

Aeroponics Market Report Highlights

Aspects Details
By Application
  • Indoor Farming
  • Outdoor Farming
By Component
  • Irrigation Component
  • Lighting
  • Sensor
  • Climate Control
  • Building Material
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Netherlands, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, Australia, Singapore, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players AEROFARMS, AEROPONICS (AERO DEVELOPMENT CORP), BRIGHTFARMS INC., EVERGREEN FARM OY., LETTUS GROW, COMBAGROUP SA, ALTIUS FARMS, PONICS TECHNOLOGIES, LIVING GREENS FARM, FREIGHT FARMS
 

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Growth in population fuels the demand for both more food and the land to grow it; however, availability of arable land is limited and expensive. Aeroponics is an indoor gardening practice in which plants are grown and nourished by suspending their root structures in air. The process requires regular spraying of nutrients in a water solution. Aeroponics offers an efficient means to grow plants, including fruits and vegetables, without the need to pot the plants to nutrient-rich soil. In aeroponics system, the roots of plants are misted with nutrients, water, and oxygen. Therefore, this process do not require any containers or trays to hold water. It is an effective and efficient way to grow plants as it requires less water and minimal space compared to traditional farming techniques. 

Presently, around 54% of the world’s population resides in urban areas and is expected to reach 66% by 2050. The future cities are expected to produce their own food due to increase in global population and limited area of arable land. In addition, food supplies from traditional farming are used by the urban population. These farmers use pesticides to achieve higher yield and preservatives to extend shelf life of foods. Rise in demand for fresh, home-grown organic food has fueled the growth of the aeroponics market. 

According to United Nations Population Division (2009), the global population is expected to increase from about 6.9 billion in 2010 to 9.2 billion in 2050. Presently, the growth rate of global population is nearly 80 million per annum. This is a major concern, as habitable area of Earth is limited to nearly 13 billion hectares. In 2008, the total arable area in the world was near about 4.88 billion hectares. The growth of the aeroponics market is driven by food security, adverse effects of farming on the ecosystem & climate, fitness & nutrition, and others. Moreover, shift from traditional agricultural techniques to aeroponics farming to cater to the increase in demand–supply gap boosts the market growth. 

Aeroponics system offers the possibility to enhance crop production and diminish costs compared to traditional farming methods or to any other alternate technique of farming. Aeroponics system successfully utilizes every vertical distance for either farming or production of greenhouses. Every area available in greenhouse is used for maximum production of food per area. This technique does not use pesticides, in addition to zero harmful waste production in the environment. The controlled environment of aeroponics has the capability to produce approximately 70% more yield than traditional agriculture. 
North America is the second highest revenue contributor to the global aeroponics market, after Asia-Pacific. The market growth is attributed to factors such as alarming rate of water level depletion, presence of drought-stricken states, and increase in environmental concerns.

Key players in the aeroponics market are AeroFarms, Aeroponics (AERO Development Corp), BrightFarms Inc, Evergreen Farm Oy, LettUs Grow, CombaGroup SA, Altius Farms, Ponics Technologies, Living Greens Farm, and Freight Farms. 


 

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