Global Aeroponics Market - 2023-2030

Global Aeroponics Market - 2023-2030

Market Overview

The Global Aeroponics Market reached US$ 955.2 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 3,867.1 million by 2030. The market is growing at a CAGR of 19.1% during the forecast period 2023-2030.

The growing concerns over food safety and sustainability are driving the growth of the aeroponics market. As more consumers are looking for locally grown and organic produce and aeroponics provides a way to grow high-quality, pesticide-free produce in urban areas, where traditional agriculture is not possible, the aeroponic market is growing. Automation and remote monitoring systems have also made it easier to manage aeroponic farms, further driving the market growth.

Market Dynamics

Growing Popularity of Vertical Farming Fuels the Growth of the Aeroponics Market

According to a report by the United Nations, the global population is expected to reach 9.7 billion by 2050. This will require a significant increase in food production and vertical farming is a great solution to this challenge. Vertical farming refers to the practice of growing crops in vertically stacked layers, often in urban environments or other limited spaces, using advanced technologies like aeroponics.

It is stated that by exercising the vertical farming techniques, the amount of water and land usage is reduced to 98% and 99% respectively. Hence, the growing popularity of vertical farming has driven the growth of the aeroponics industry.

The Popularity of a Disease-free Environment in Agriculture is Driving the Market Growth of Aeroponics

The popularity of disease-free agriculture is one of the factors driving the growth of the aeroponics market. This is because traditional agriculture practices involve growing crops in soil, which can harbor pests, diseases and other pathogens. As a result, farmers may need to use pesticides and other chemicals.

In contrast, aeroponics involves growing plants in a soil-free environment, which eliminates the need for pesticides and other chemicals. Moreover, the aeroponics system provides a controlled environment where factors like temperature, humidity and lighting can be carefully monitored and adjusted to optimize plant growth.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global aeroponics market is segmented based on application, component and region.

Increasing Adoption of Lighting in Indoor Farming Practices

Based on product type, the aeroponics market is classified into climate control irrigation components, building materials, lighting and others.

In 2022, the lighting segment held the highest share of the market. Since aeroponic systems are typically used in indoor environments or areas with limited sunlight, lighting is essential to provide the necessary light spectrum and intensity required for plant growth LED lights are energy-efficient and can provide specific wavelengths of light, which can promote plant growth and development.

Overall, the lighting segment is expected to continue to dominate the aeroponics market in the coming years, driven by the increasing adoption of LED lighting.

Geographical Analysis

Adoption of Sustainable Farming in the Europe Region

Europe has a significant share of the aeroponics market. One of the primary reasons is the region's advanced agriculture industry and the focus on sustainable farming practices. There are currently over 200 vertical farms in Japan that focus on producing vegetables. The biggest vertical farming company in Japan is SPREAD which produces up to 21,000 lettuce heads per day. European countries have been investing heavily in agricultural research & development and as a result, they have been able to develop cutting-edge aeroponic technologies.

Competitive Landscape

The major global players include AeroFarms, CombaGroup SA, AERO Development Corp, Ponics Technologies, BrightFarms Inc, Freight Farms, Evergreen Farm Oy, Living Greens Farm, LettUs Grow and Altius Farms.

Why Purchase the Report?
• To visualize the global Aeroponics market segmentation, based on application, component and region; and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous aeroponics market-level data points all for 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 102 Pages.

Target Audience 2023
• Manufacturers / Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies