The global aeroponics market is worth US$ 2.7 Billion as of now and is expected to reach US$ 17.4 Billion by the year 2033 at a scintillating CAGR of 20.5% between 2023 and 2033.
With indoor farming practices being practiced all across, vertical aeroponics is gaining traction and the scenario is expected to remain unchanged even in the forecast period.
People are increasingly opting for organic food owing to several advantages that it offers. Plus, there are enhanced distribution channels coupled with raised income levels.
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Aeroponics is capable of yielding any kind of crop throughout the year. The food supply chain is witnessing a ‘new normal’ due to changeable climates. Farmers are increasingly adopting aeroponics systems in several regions for ensuring year-round yield and curtail food scarcity at the regional levels. With the global population reaching 8 Billion, aeroponics is looked upon as an indispensable part of farming, and the scene is expected to continue even in the forecast period.
Future Market Insights has entailed these facets with future prospects in its latest market study entitled ‘Aeroponics Market’. It has its set of analysts and consultants to deploy a 360-degree approach in its primary, secondary, and tertiary modes of research.
“With the population worldwide asking for food free of chemicals, the global aeroponics market is likely to grow on a splendid note in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Aeroponics Market
- North America holds the largest market share with the US being subject to rising demand for organic food.
- The Asia-Pacific is expected to grow at the quickest rate in the aeroponics market going forward. This could be credited to growing awareness regarding health advantages offered by organic food along with advancements in farming.
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Competitive Aeroponics
- The key players in aeroponics market include AeroFarms, BrightFarms Inc., AERO Development Corp, Evergreen Farm Oy, Altius Farms, CombaGroup, LettUs Grow, Living Greens Farm, Ponics Technologies, and Freight Farms.
- The players mentioned above are into adoption of various modes of expansion like new product launches, mergers, acquisitions, partnerships, joint ventures, and likewise for strengthening their foothold in the aeroponics market in the forecast period.
- Wageningen University and Research (NL), in November 2022, collaborated with LettUs Grow for comparing hydroponic and ultrasonic aeroponic irrigation systems in two trials side-by-side.
- Aero Farms, in January 2023, did announce expanding its Community Farm program for enabling access to nutritious and fresh leafy greens to the local settings such as corporate cafeterias, schools, and community centers. These 9 new farms do address the growing demand from the customers pertaining to small indoor farming technology.
What does the Report state?
- The research study is based on component (lighting, sensor, irrigation component, climate control, and likewise), farming method (outdoor farming and indoor farming), solution (conventional and organic), and application (residential and commercial).
- With advancements in crop cultivation methods, the global aeroponics market is bound to grow on a good note in the forecast period.
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Aeroponics: Market Segmentation
Basis of Component:
- Lighting
- Sensor
- Irrigation Component
- Climate Control
- Others
Basis of Farming Method:
- Outdoor farming
- Indoor farming
Basis of Solutions:
- Organic
- Conventional
Basis of Application:
- Commercial
- Residential
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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