Global Aeroponics Market Size (2023 - 2030)

The Global Aeroponics Market is expected to grow with a CAGR of 25.6% during the period 2022-to 2030. This growth is mainly driven because of the increasing demand for fresh vegetables and fruits in the urban areas. The outbreak of Covid-19 impacted the aeroponics market positively.

Aeroponics is an indoor gardening technique that involves growing and nourishing plants by hanging their root systems in the air. The procedure necessitates the application of fertilizers in a water solution regularly. Aeroponics is a method of growing plants, such as fruits and vegetables, without the requirement for them to be potted in nutrient-rich soil. The roots of plants are misted with nutrients, water, and oxygen in an aeroponics system. As a result, no water-holding containers or trays are required in this operation. It is a cost-effective and efficient method of growing plants since it takes less water and space than traditional agricultural methods. 

When compared to traditional farming methods or any other alternative farming methodology, an aeroponics system can increase crop yield while lowering expenditures. Every vertical distance is successfully used by the aeroponics technology for either agricultural or greenhouse output. Pesticides are not required, and there is no toxic waste generated as a result of this method. When compared to traditional agriculture, the regulated atmosphere of aeroponics may generate around 70% greater output. With 6400 m2 of cultivating space without soil, the world's largest aeroponics farm is now under development.

Aeroponics is becoming more popular as a result of its advantages, such as using less energy and water than traditional farming. Furthermore, it needs far less upkeep. As a result, the demand for aeroponics is increasing, boosting the market's growth. The increased popularity of organic food and a disease-free environment in agriculture is propelling the aeroponics business forward. Furthermore, an increase in population and a spike in the use of cutting-edge technologies in agriculture are likely to give profitable prospects for aeroponics market players.

MARKET DRIVERS

Increasing Demand for Organic Food

Organic food is produced without the use of synthetic fertilizers, pesticides, or growth regulators in the farming process. People all around the world are becoming more conscious of the source of the food they consume daily in the current day. As a result, the demand for organic foods rises. Organic food sales, for example, have increased significantly in North America during the last several years.

Increasing Global Population at A Rapid Pace Leading to The Population Explosion

According to the UN Population Division (2009), the global population will grow from USD 6.9 bn in 2010 to USD 9.2 bn in 2050. The current global population growth rate is approximately 80 million people per year, which is a big problem given that the Earth's habitable area is only about 13 billion hectares. As a result, people have switched away from traditional farming techniques and toward more sustainable methods to meet the growing demand-supply imbalance. This is a primary reason driving the global acceptance of aeroponics farming as a sustainable, economic, and environmentally friendly alternative to traditional farming.

Traditional Farming Is Considered as One of The Safer Modes of Farming

Traditional farming often includes the usage of harmful chemicals for the fertilization of crops. However, in Aeroponic farming, the farmers do not need to spray the fertilizer as the crops are grown in a controlled environment and are least affected by the outer conditions.

MARKET RESTRAINTS

Lack of Awareness among people towards farming techniques

Many people are still not comfortable with consuming vegetables produced with the help of Aeroponics as they believe in the traditional style of farming. Many people believe that modern farming techniques might be harmful to the environment as they are not produced naturally. 

Lack of Expertise leads to the poor farming practices

Vertical farming need trained professional in the field of agriculture as it is very different from traditional farming. However, not many people are experts in the field of agriculture as it is not a popular field of education in the corporate world.

MARKET SEGMENTATION

Global Aeroponics Market- By Components:

• Sensors
• Lighting
• Irrigation Components
• Climate Control
• Building Material
• Others

Based on the components, Lighting was the most profitable segment in 2022, accounting for more than 40.0 percent of overall sales. The use of artificial lighting by vertical farms accounts for a significant percentage of the lighting market. The essential light intensity for crop growth is provided by artificial lighting. The temperature control sector is expected to increase at the quickest pace of 27.0 percent over the forecast period. Farmers are projected to use more hydroponic components to lower the weight of the equipment and the infrastructure needed to maintain it, resulting in increased demand for hydroponic components. Plants are cultivated in a controlled climate within a greenhouse, allowing a farmer to regulate and monitor the proper quantity of light, carbon dioxide, water, humidity, pH levels, and nutrients for crop growth. The fundamental purpose of climate control farming is to make it easier to secure and maintain ideal growing conditions throughout the development period of a crop. Climate-controlled farming is frequently used to ensure that plants receive the nutrients they require to thrive.

Farming with the help of lighting technology fosters consistent plant development by reducing heat stress on the root zone and delivering uniform illumination. LED illumination works as a supplement to the sun, allowing for increased output while using less energy. Sensors provide constant monitoring of both the external environment and crop health. Sensors such as nutrition sensors, humidity sensors, and light sensors are used to track crop development. Monitoring can also alert you to changes and notifications

Global Aeroponics Market- By Application:

• Indoor Farming
• Outdoor Farming

Based on the application, indoor farming reduces the environmental effect of farming while increasing crop productivity by reducing the need for long-distance commodity supply. By using vertically placed growing shelves, it reduces the amount of land space required to raise crops as compared to the traditional farming technique. Indoor vertical farming allows more crops to be harvested per square meter of producing area. One acre of indoor area generates the same amount of output as 4-6 acres of open land. Around 30 percent of farmed arable land has been lost in the last 40 years due to damaging activities such as pollution and urban expansion, which influence both poor soil health and topsoil erosion. Furthermore, the use of technology, such as LED indoor farming to mimic natural conditions, will aid farmers in meeting the rising demand for food. Over the forecast period, all of the aforementioned factors are expected to expand the indoor farming method.

Global Aeroponics Market- By Geography:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Based on geography, North America has the greatest market share of the global aeroponics market geography in 2022, and it is expected to remain the largest regional market throughout the forecast year. This is due to the widespread use of indoor farming in North America during the last two decades. Farmers have been able to expand their operations and provide unique goods thanks to technological improvements in indoor farming. Living Greens Farm (LGF) is home to one of the country's largest indoor aeroponic farms. The Living Greens Farm is a 60,000-square-foot indoor farm that grows a variety of vegetables and fruits. The living green farm can generate over 3 million heads of high-quality lettuce.

Europe is predicted to grow greatly throughout the projection period as a result of the growing usage of genetically modified agricultural technology. In addition, the increasing usage of nanotechnology and robotics in agriculture is driving up regional market demand. Food packaging, as well as disease and pest control, benefit from nanotechnology.

The European Environment Agency has made several attempts to build vertical farms to solve the challenges of population growth and climate change, as well as the ecologically unfriendly production of food. As a result, regional market demand has grown. An expanding urban population and the commercialization of indoor farming are likely to stimulate demand in Africa.

Key Players

1. AeroFarms
2. Aeroponics (AERO Development Corp)
3. BrightFarms Inc
4. Evergreen Farm Oy
5. Letts Grow
6. CombaGroup SA
7. Altius Farms
8. Ponics Technologies
9. Living Greens Farm
10. Freight Farms

NOTABLE HAPPENINGS IN THE GLOBAL AEROPONICS MARKET IN THE RECENT PAST

• Business Acquisition:- In March 2022, Aero Farms signed a merger agreement with Spring Valley Acquisitions Corp, a special purpose acquisition company (SPAC).
• Business Partnership:- Signify signs a partnership agreement with Planet Farm, a European Vertical Farm operator, which was expanded in March 2022.
• Product Launch:- Aero Farms announced in April 2022 that it will construct a 90000 sq. ft. indoor vertical farm in Abu Dhabi, UAE.

Impact Of Covid-19 on the Industry

The COVID-19 epidemic forced the closure or partial closure of industries, warehouses, enterprises, and educational institutions throughout the world. Other lockdown measures were implemented as well, such as stringent social distance standards, restricted travel, and limited access to public venues and eateries. Lockdown restrictions, supply chain interruptions, and limited consumer and corporate expenditure have all hampered the growth of the aeroponics industry in 2022. Due to the closure of several SMEs, logistical interruptions, lockdowns, and other issues caused by the COVID-19 pandemic, the market is expected to fall in 2022. Contracts were also terminated to keep costs under control.

Vertical farming using aeroponics, on the other hand, is gaining significant traction as a result of rising consumer health concerns, as the vertical farms manage everything from seed to store. They also give information to customers about where their food originates from and how it is produced. During the COVID-19 outbreak in April 2022, Lett Us Grow, a modern farming technology supplier, expedited the construction of two vertical garden modules in Bristol. Their farm modules can be put everywhere there is energy and water, and we're in a unique position to boost food supply chain resilience during the pandemic by diversifying local food production.