PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1587635
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1587635
According to Stratistics MRC, the Global Aeroponics Market is accounted for $2.1 billion in 2024 and is expected to reach $9.2 billion by 2030 growing at a CAGR of 27.6% during the forecast period. Aeroponics is a water-efficient, soilless technique for growing plants in a misty or airy environment. Without immersing them in soil or water, it provides vital nutrients, water, and oxygen straight to the roots. This approach uses less water and encourages faster plant development and greater yields, making it environmentally friendly and sustainable. Because aeroponics allows for exact temperature, humidity, and nutrient management, it is perfect for controlled environments such as greenhouses and vertical farms.
According to the United Nations Population Division (2009), the global population is expected to increase from about 6.9 billion in 2010 to 9.2 billion in 2050. Presently, the growth rate of global population is nearly 80 million per annum. This is a major concern, as habitable area of Earth is limited to nearly 13 billion hectares.
Rising consumer preference for organic and chemical-free produce
Health-conscious consumers' desire for nutrients-dense, pesticide-free products is fueling the increased demand for organic crops, which makes aeroponics a desirable alternative. Because it consumes up to 95% less water and does not require chemical fertilizers, it is more appealing to consumers who are worried about ecological repercussions and environmental sustainability, which is what, is driving this trend.
Scaling up challenges
The high upfront costs associated with specialized equipment for aeroponic systems may discourage startups and small-scale farmers from implementing or expanding their operations. As operations grow, the technical intricacy of these systems necessitates a thorough understanding of plant biology and precise fertilizer management, which calls for qualified staff for efficient monitoring and maintenance hamper growth of the market.
Decreasing availability of arable land
Farmland is being reduced by urbanization and population increase, necessitating the use of cutting-edge agricultural techniques like aeroponics. Aeroponics is an appealing option for urban food security because it enables high-density crop production in constrained locations. Aeroponics and other sustainable farming techniques use up to 95% less water and less land than conventional farming, which is in line with sustainability goals.
Vulnerability to power failures and system malfunction
Power outages or equipment failures could harm crops grown in aeroponic systems, which depend on steady nitrogen delivery through misting. This risk may discourage growers from investing in these systems because it can result in dry roots and plant harm. Smaller growers and possible market entrants may find it difficult to afford the backup power systems that operators frequently need to invest in in order to reduce these hazards.
The COVID-19 pandemic had a mixed impact on the Aeroponics Market. Initially, disruptions in global supply chains affected production and distribution. However, the pandemic heightened interest in sustainable and efficient agricultural practices, leading to increased demand for aeroponic systems. As consumers sought locally grown, organic produce, investments in indoor farming solutions surged which further bolstered market resilience.
The nutrient delivery system segment is expected to be the largest during the forecast period
The nutrient delivery system segment is projected to account for the largest market share during the projection period because growers can tailor solutions for various plants and growth stages using the precision fertilizer control provided by aeroponic systems. By ensuring proper absorption, this promotes healthier plants and higher yields. Higher yields and quicker plant growth are also encouraged by effective fertilizer delivery when compared to conventional agricultural practices which drives the market growth.
The drip systems segment is expected to have the highest CAGR during the forecast period
Over the forecasted timeframe, the drip systems projected to witness substantial growth during the projection period as it improves nutrient delivery by supplying solutions straight to plant roots, maximizing uptake and raising yields. This is in line with the market's emphasis on agricultural yield. In addition to reducing waste and guaranteeing that plants receive the proper amount of moisture without becoming overly saturated, drip systems also help to make aeroponic farming operations more sustainable.
North America is expected to have the largest market share over the projection period owing to technological developments in aeroponic systems that increase output and efficiency and draw in growers. The market for aeroponics is expanding as a result of government assistance and initiatives like urban farming programs and sustainable agriculture practices, which make it easier to finance and acquire resources for new projects.
The Asia Pacific region is projected to achieve the highest CAGR during the forecast period due to rapid urbanization in China, India, and Japan, placing strain on traditional agriculture. Aeroponics is a desirable sustainable agriculture solution because of the problems with land and water scarcity. In order to encourage the use of aeroponics, governments are realizing its potential and putting supportive policies in place, such as financing for research, subsidies, and advantageous regulatory frameworks.
Key players in the market
Some of the key players in Aeroponics Market include AERO Development Corp , AeroFarms, AgriHouse Brands Ltd, Altius Farms , Barton Breeze Pvt. Ltd, Bifarm Tech Inc., BrightFarms Inc, CombaGroup SA , Eden Grow Systems, Evergreen Farm Oy, Freight Farms, Hexagro Urban Farming Srl, LettUs Grow, Living Greens Farm and Ponics Technologies .
In February 2024, Eden joined Meagan Crawford of SpaceFund, as well as a Board Member of Eden, & Dr. Porterfield for an event as Space Center Houston for investors & startups in the local Houston area. It was great to be back at Space Center Houston.
In November 2023, Eden Grow Systems launched a crowdfunding campaign for the company's modular farming systems. Eden Grow Systems' open crowdfunding campaign is providing investors with the opportunity to own a stake in its future and in advancing the AgTech ecosystem.