Category: Electronics & Semiconductor
Sub-category: Technology
The Global Aeroponics Market was valued at $ 1,097.2 Million in 2019 and is anticipated to grow at a CAGR of 22.9% from 2020 to 2027. Aeroponics is a process where plants are grown without using soil or an aggregate medium in an air or mist environment. The factors for the emergence of aeroponic farming are the constant increase in the population coupled with the growing inability to produce a huge amount of food to feed this growing population, to avoid paralyzing congestion, unaffordable food prices, and harmful pollution. Aeroponics is a high-tech system of farming which provides a suitable as well as an efficient method for farming in the city area by maximizing yield and minimizing maintenance. This type of farming is becoming essential especially in metropolitan cities since there is a lack of land which is available as well as suitable enough for farming purposes.
Source: EBI Analysis
Growth Impact Factors
The factors that have led to the growth of the aeroponics farming market include an increase in the overall population, lack of arable land, rising demand for organic food, among others.
Increase in the overall population
The major factor owing to which the aeroponics significantly adopted farming technique is its ability to improve the overall yield from plants. The demand for food is constantly and rapidly increasing due to the rapid growth in the population which will directly impact the growth of the market. It is almost impossible to feed such a large number of people using conventional farming methods. The roots of the plants are sprayed with fine high-pressure mist which is rich in nutrients. Since there is no soil obstructing the roots, the nutrients are administered easily to the roots. This factor is a major boost to the aeroponics farming market.
Increasing demand for organic food.
Food products that are produced without the use of chemical fertilizers, pesticides, and growth regulators are increasingly preferred by consumers. The reason behind the increase in demand in organic food is due to the rising awareness of the harmful effects of food products produced with chemicals and regulators. People all over the world are suffering from multiple issues such as kidney problems, lung issues, and even cancer instance, due to the use of chemical fertilizers. Hence this factor will drive the aeroponics farming market considerably.
The continuous rise in population will be the leading factor driving the growth of the aeroponics farming market since the population will continue to expand without any slowdown in the foreseeable future.
Restraining factors
Aeroponic systems are extremely costly and require a major investment to just acquire the system. Additionally, to operate an aeroponic system efficiently, certain technical knowledge is required. Hence the need for knowledge about nutrients, the amount which is required, which nutrients should be used, and so on are essential to limit the wastage and losses. These restraining factors obstruct the growth of the aeroponic farming market.
Key Insight in the report:
The Global Aeroponic market report covers Executive Summary, Market Dynamics, Trend Analysis, Market Size and Forecast, Competitive Intelligence, Market Positioning, Product Benchmarking, and Opportunity Analysis.
The report covers extensive competitive intelligence which includes following data points:
- Business Overview
- Business Model
- Financial Data
- Financial – Existing
- Financial – Funding
- Product Segment Analysis and specification
- Recent Development and Company Strategy Analysis
- SWOT Analysis
The report covers market sizing and forecasting at the country level as well as at the segment level. Aeroponics Market is analyzed across below-mentioned different segments:
| Application | Component Type |
|---|---|
| Indoor Farming | Irrigation |
| Outdoor Farming | Lighting |
| Sensor | |
| Climate Control System | |
| Building Material | |
| Others |
The global aeroponics market is divided by application, component and by region. By Application, aeroponics market is segmented into indoor farming and outdoor farming. By component, aeroponics market is classified as Irrigation, Lighting, Sensor, Climate Control System, Building Material, and Others. Based on region, aeroponics market is categorized into North America, Europe, Asia Pacific, and Rest of the World.
Aeroponics Market is also analyzed across below-mentioned regions/countries
The European Aeroponic market is expected to grow exponentially at the highest CAGR in the coming years. The reasons being lack of sufficient water for farming in certain regions especially in central and southern parts of Europe, establishing urban food security and an increase in demand for organic food. North America is the dominating region in the aeroponic farming market.
The some of the key players in of Aeroponic market include:
- AeroFarms
- AERO Development Corp
- BrightFarms Inc
- Evergreen Farm Oy
- Freight Farms
- LettUs Grow
- CombaGroup SA
- Altius Farms
- Ponics Technologies
- Living Greens Farm
- Tower Garden
Recent developments
- In April 2020, AeroFarms build the largest R&D indoor vertical farm in Abu Dhabi. This is a part of USD 100 million AgTech investment by Abu Dhabi Investment Office (ADIO). This farm will be dedicated to the R&D facility as well as the commercialization of crops by using the expertise of AeroFarm.
Report Content Brief:
- High level analysis of the current and future market trends and opportunities
- Detailed analysis on current market drivers, restraining factors, and opportunities in the future
- Aeroponic historical market size for year 2019, and forecast from 2020 to 2027
- Vendor market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations and partnerships as well as funding taken and investment done, among others.
