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The aeroponics market size?is estimated to grow at a?CAGR of 25.89%?between 2023 and 2028 and the size of the market is forecast to increase by?USD 4,130 million.?The growth of the market depends on several factors, such as the limited arable land for agricultural usage, the growing focus on reducing labor costs for farming, and the need for a reduction in soil and water pollution.
The report includes a comprehensive outlook on the Aeroponics Market, offering forecasts for the industry segmented by Product, which comprises low pressure aeroponics, high pressure aeroponics, and ultrasonic fogger aeroponics. Additionally, it categorizes Type into indoor farming and outdoor farming, and covers Geography regions, including Europe, APAC, North America, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
Aeroponics Market Forecast 2024-2028
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Aeroponic technologies involve fully automated growing systems for plants. These technologies help increase crop yield by minimizing labor costs. They reduce manual labor intervention during farming. Some of the vendors offer farm management technologies that use software and data services that help reduce unnecessary labor and optimize conditions for various operations. Manual labor is required only on-site for planting and packaging crops.
Moreover, with the use of modern aeroponic technologies, the cost of access can be reduced, including walking down the rows, pulling crop channels out to the workbench, using a scissor lift to reach higher levels, and bending over to reach lower levels. Hence, the growing focus on reducing labor costs for farming will drive the growth of the global aeroponics market during the forecast period.
Aeroponic technology offers an innovative approach to producing large quantities of food independent of favorable climatic conditions. These intelligent technologies can be integrated with various systems to achieve maximum yields and greater crop rotation compared to open-field farming and other farming practices. As the population grows, the demand for food will increase. Therefore, as the demand for food grows, so does the need for new technologies in agriculture, such as aerobatics.
In addition, aeroponic technologies can be used with various farming systems in multi-level designs and provide more area than single-level systems. This, in turn, helps increase the crop yield and offers a high-profit agricultural activity for the end-users. Hence, the maximum crop yield and minimum overhead offered by aeroponic technologies help meet the growing demand for food products and can influence the growth of the market during the forecast period.
Aeroponics is not suitable for growing all types of plants and vegetables. Few vegetables and fruits can be produced in a controlled environment using aeroponics. Therefore, farmers can only grow a limited variety of fruits and vegetables with aeroponics technology. Cucumbers, tomatoes, lettuce, strawberries, and herbs such as mint and basil are some of the popular crops that can be grown using aeroponics.
Moreover, domesticated crops such as wheat, barley, corn, and rice are mainly produced using traditional farming methods. Similarly, calorie-rich root crops can grow well only with outdoor farming methods. Hence, the limitations of aeroponics can affect the growth of the market during the forecast period.
The low pressuere aeroponics segment will account for a major share of the market's growth during the forecast period.?Low pressure aeroponics is the most commonly used aeroponics farming technique compared to other methods because it is inexpensive, easily available, and easy to set up, which, in turn, will fuel the growth of the segment in the global aeroponics market during the forecast period.
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The low-pressure aeroponics segment was valued at USD 70.00 million in 2018. Low-pressure aeroponics is a type of aeroponic cultivation system. Low-pressure aeroponics tends to use much larger droplet-size sprays. In this, roots are partially suspended in air and/or nutrient solutions. Low-pressure aeroponics basically delivers a mist at low pressure with large droplets to plant roots. Demand for low-pressure aeroponics is expected to increase due to the ease of setup and maintenance of this method. Thus, such factors will drive the growth of the market segment during the forecast period.
Based on type, the market has been segmented into indoor farming and outdoor farming. The indoor farming?segment will account for the largest share of the end-user segment.?Aeroponics technology in indoor farming is used for growing plants indoors, such as material handling systems, environment and climate control systems, farm management systems, and light-emitting diodes (LED) lighting systems. The new features offered by market players, the introduction of new models, and the use of automation in indoor farming will also contribute to the growth of the segment. Thus, such factors will drive the growth of the indoor farming segment of the global aeroponics market during the forecast period.
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APAC is estimated to contribute 32% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. Another region offering significant growth opportunities to companies is Europe. Due to the rising popularity of organic food products and a disease-free environment in the agricultural industry, the demand for aeroponics is expected to increase in Europe.
Moreover, the popularity of aeroponic farming is increasing owing to its reliability of operation, simplicity, and high efficiency. Furthermore, aeroponics is gaining popularity due to its innumerable health benefits. Plants grown via the aeroponic method require less fertilizers, space, and water. In Europe, a growing preference for sustainable farming is expected to fuel the growth of the regional market.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
AEssense Corp., AgriHouse Brands Ltd., Barton Breeze Pvt. Ltd., Bifarm Tech Inc., Biopolus, Bowery Farming Inc., CleanGreens Solutions SA, Eden Grow Systems, Evergreen Farm Oy, Freight Farms Inc., Good Life Growing, Hexagro Urban Farming Srl, LettUs Grow Ltd., Living Greens Farm Inc., Neofarms GmbH, Nutraponics, The Scotts Miracle Gro Co., Jewish Family Service of Colorado, and WayCool
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The aeroponics market report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2018 to 2028.
Aeroponics Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 25.89% |
Market growth 2024-2028 |
USD 4,130 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
25.44 |
Regional analysis |
Europe, APAC, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 32% |
Key countries |
US, Canada, Japan, China, and The Netherlands |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AeroFarms LLC, AEssense Corp., AgriHouse Brands Ltd., Barton Breeze Pvt. Ltd., Bifarm Tech Inc., Biopolus, Bowery Farming Inc., CleanGreens Solutions SA, Eden Grow Systems, Evergreen Farm Oy, Freight Farms Inc., Good Life Growing, Hexagro Urban Farming Srl, LettUs Grow Ltd., Living Greens Farm Inc., Neofarms GmbH, Nutraponics, The Scotts Miracle Gro Co., Jewish Family Service of Colorado, and WayCool |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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