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 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.
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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, rise in urban population and 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
• Indoor Farming
• Outdoor Farming
• Irrigation Component
• Climate Control
• Building Material
• North America
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o Rest of Europe
o Rest of Asia-Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
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• Aeroponics (AERO Development Corp)
• BrightFarms Inc
• Evergreen Farm Oy
• LettUs Grow
• CombaGroup SA
• Altius Farms
• Ponics Technologies
• Living Greens Farm
• Freight Farms