Demand for organic food major factor driving growth
Global aeroponics industry was estimated at $578.7 million in 2018 and is expected to grow to $3.53 billion by 2026, registering a Compound Annual Growth Rate (CAGR) of 25.6 percent from 2019 to 2026. This estimation is as per a report entitled ‘Aeroponics Market by Application (Indoor Farming and Outdoor Farming) and Component (Irrigation Component, Lighting, Sensor, Climate Control, Building Material, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026’ published by Allied Market Research.
Rise in demand for organic food, limited arable land for traditional agriculture and popularity of disease-free environment are the major factors enabling the growth of the global aeroponics market. The lighting segment contributed to more than one-fourth of the global aeroponics market share in 2018 and is expected to be the most dominant segment till 2026.
The climate control segment is projected to have the fastest CAGR of 30.3 percent during 2019–2026. The indoor farming segment accounted for three-fifths of the global aeroponics market revenue in 2018 and is anticipated to retain its top status by the end of 2026. It is also the segment to grow at the CAGR of 27.6 percent during the estimated period.
