The global aeroponics market was valued at around USD 570 million in 2019 and is projected to grow at a CAGR of close to 25% during the forecast period. Aeroponics is defined as a planting method in which the roots of the plant are suspended in the air. When compared to the way by which farming was done traditionally, aeroponics is an efficient way to grow plants owing to less water as well as minimal space requirements, which is the key factor for the growth & adoption of aeroponics across the globe.
Important Elements of the Global Aeroponics Market
Moreover, the increase in population growth and the rise in the implementation of modern technologies under sustainable agriculture are likely to provide growth opportunities to the aeroponics market players in the years to come. However, some of the factors that might hamper the growth of the global aeroponic market during the forecast period include the high initial costs required for setting up the indoor structure, lighting, and irrigation systems.
The global aeroponics market is segmented based on component, application, region, and company. Based on components, the market can be segmented into irrigation components, lighting, sensor, climate control, building material, and others. Among them, the irrigation component is projected to grow with a healthy CAGR through 2025. This growth can be attributed to the need for pumping nutrient-enriched water at regular intervals of time, as the roots are held in a soilless growing medium.
Major players operating in the aeroponics market
- AeroFarms, Aeroponics (AERO Development Corp)
- BrightFarms Inc
- Evergreen Farm Oy
- LettUs Grow
- CombaGroup SA
- Altius Farms
- Ponics Technologies
- Living Greens Farm
- Freight Farms, and others.
Years considered for this report for Global Aeroponics Market
- Historical Years: 2015-2018
- Base Year: 2019
- Estimated Year: 2020
- Forecast Period: 2021–2025
The objective of the Study Global Aeroponics Market
- To analyze and forecast the market size of the global aeroponics market.
- To classify and forecast the global aeroponic market based on component, application, company, and regional distribution.
- To identify drivers and challenges for the global aeroponics market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global aeroponics market.
- To conduct pricing analysis for the global aeroponics market.
- To identify and analyze the profile of leading players operating in the global aeroponic market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the new products, distribution channels, and presence of all major players across the globe.
TechSci Research calculated the market size of the global aeroponics market using a bottom-up approach, wherein data for various end-user segments were recorded and forecasted for the future years. TechSci Research sourced these values from industry experts and company representatives and externally validated them by analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by TechSci Research.
Key Target Audience:
- Aeroponics service providers, vendors, and other stakeholders
- Government bodies such as regulating authorities and policymakers
- Organizations, forums, and alliances related to aeroponics
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, vendors, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, the global aeroponics market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Market, By Component:
- Irrigation Component
- Lighting
- Sensor
- Climate Control
- Building Material
- Others
- Market, By Application:
- Indoor Farming
- Outdoor Farming
- Market, By Region:
- North America
- United States
- Mexico
- Canada
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Middle East & Africa
- South Africa
- UAE
- Saudi Arabia
- South America
- Brazil
- Argentina
- Colombia
- North America