The global aeroponics market size 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 nutrientorich 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, a growth mechanism of vertical farming in which mist, mixed with vital nutrients, water, and oxygen is directed to the open roots of plants for their growth. This growth mechanism involves a closed-loop system that uses approximately 95% less water than field farming. 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.
The demand for aeroponics is expected to increase rapidly during the forecast period, owing to various factors such as rise in popularity of organic foods, limited arable land for agriculture, growing popularity of disease less environment in agriculture, and decrease in arable land. However, high initial investments and involvement of nascent technology hamper the market growth. Nonetheless, the rise in urban population and a surge in adoption of technology driven agriculture are expected to provide lucrative growth opportunities to the aeroponics market players.
The aeroponics market is 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 key players operating in the market 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.
KEY MARKET SEGMENTS
By Application
By Component
By Region
North America
Europe
Asia-Pacific
LAMEA
KEY PLAYERS
Aeroponics, a growth mechanism of vertical farming in which mist, mixed with vital nutrients, water, and oxygen is directed to the open roots of plants for their growth. This growth mechanism involves a closed-loop system that uses approximately 95% less water than field farming. 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.
The demand for aeroponics is expected to increase rapidly during the forecast period, owing to various factors such as rise in popularity of organic foods, limited arable land for agriculture, growing popularity of disease less environment in agriculture, and decrease in arable land. However, high initial investments and involvement of nascent technology hamper the market growth. Nonetheless, the rise in urban population and a surge in adoption of technology driven agriculture are expected to provide lucrative growth opportunities to the aeroponics market players.
The aeroponics market is 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 key players operating in the market 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.
KEY MARKET SEGMENTS
By Application
- Indoor Farming
- Outdoor Farming
By Component
- Irrigation Component
- Lighting
- Sensor
- Climate Control
- Building Material
- Others
By Region
North America
- U.S.
- Mexico
- Canada
Europe
- Germany
- France
- UK
- Netherlands
- Rest of Europe
Asia-Pacific
- Japan
- China
- India
- Australia
- Singapore
- Rest of Asia-Pacific
LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
KEY PLAYERS
- AeroFarms
- Aeroponics (AERO Development Corp)
- BrightFarms Inc
- Evergreen Farm Oy
- LettUs Grow
- CombaGroup SA
- Altius Farms
- Ponics Technologies
- Living Greens Farm
- Freight Farms
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Global Aeroponics Market, By Application
Chapter 5: Global Aeroponics Market, By Component
Chapter 6: Global Aeroponics Market, By Region
Chapter 7: Competitive Landscape
Chapter 8: Company Profile
Executive Summary
According to the report titled, 'Aeroponics Market by Application and Component: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global aeroponics market size 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. Asia-Pacific contributed nearly 49.55% of the share in 2018.Rise in population and growth in urbanization has increased the requirement of food and food security among different governments globally. Traditional farming is exhaustive, both in terms of available arable land and volume of production. Aeroponics is the process of growing plans in an air or mist environment without the use of soil. The biggest benefit of using aeroponics system is the usage of limited space, which is quite opposite to the traditional farming techniques. Growing plans aeroponically is safe and ecologically beneficial for growing healthy, nutritious, and natural food crops. Aeroponics farming techniques utilizes considerably less energy, conserves water, promotes faster growth than any other conventional means, and assists in quick & disease-free plant 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.
Increase in popularity of organic foods, rise in urban population, and limited arable land for traditional agriculture are the major factors that drive the aeroponics market growth globally. However, requirement of high initial investment to set up an aeroponics farm and technologies used to be in developmental phase restrain the market growth. Furthermore, decline in water level and increase in government initiatives to promote aeroponics farming globally are anticipated to provide new aeroponics market opportunities.
In July 2019, AeroFarms invested $100 million in a Series E funding round. This investment will allow the U.S. based company to expand its indoor farms and discover new type of produces. Also, on February 2019, Freight Farms also launched Greenery, a successor to the Leafy Green Machine (LGM) that offers farmers 70% more growing space, with unprecedented versatility, efficiency, and automation control.
Moreover, Asia-Pacific is the major revenue contributor, owing to government initiatives and cooperation from private companies. The market growth in the region is attributed to factors such as alarming rate of water level depletion, presence of drought-stricken areas, and increase in environmental concerns.
The lighting segment dominated the market in 2018. Lighting devices are an essential component of aeroponics farming, as they facilitate growth of plants by acting as a substitute to sunlight. These devices use an LED lighting system that produces dual band color spectrum at the same time, and maintains efficiency and low heat dissipation. Lighting systems provide photosynthetic wavelengths in accordance to crop growth, thereby maximizing crop yield and ensuring minimum power consumption. Thus, farmers opt for LED lighting systems over other lighting technologies for aeroponic farming.
Key Findings of the Aeroponics Market:
In terms of revenue, the lighting component contributed the maximum market share in 2018, and is expected to maintain its lead throughout the forecast period.
Climate control is expected to grow at the highest CAGR during the forecast period.
In 2018, Asia-Pacific accounted for over 49.55% share globally, and is expected to dominate the aeroponics market share in the future.
By region, the global aeroponics market trends are analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2018, in terms of revenue, Asia-Pacific accounted for nearly half of the aeroponics market industry, and is expected to retain its dominant position, owing to the presence of well-established aeroponics companies, government initiatives, and rise in demand for organic food.
The major companies profiled in the aeroponics market report include AeroFarms, Aeroponics (AERO Development Corp), BrightFarms Inc, Evergreen Farm Oy, LettUs Grow, CombaGroup SA, Altius Farms, Ponics Technologies, Living Greens Farm, and Frei
Companies Mentioned
- AeroFarms
- Aeroponics (AERO Development Corp)
- BrightFarms Inc
- Evergreen Farm Oy
- LettUs Grow
- CombaGroup SA
- Altius Farms
- Ponics Technologies
- Living Greens Farm
- Fre
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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