Aeroponic Biopharming Market is anticipated to reach around USD 5,325.47 million in 2028 – Credence Research
The Global Aeroponic Biopharming Market generated revenue of around USD 957.11 million in 2021 and is anticipated to grow a CAGR of over 26.24% during the forecast period from 2021 to 2028 to reach around USD 5,325.47 million in 2028. While, cumulative growth opportunity presented by the global Aeroponic Biopharming is around USD 20.92 billion during 2022 to 2028.
Global Aeroponic Biopharming Market, 2021 – 2028 (USD Million)
Aeroponic biopharming is a new technique of growing crops that do not rely on the soil. Instead of using soil, it uses moist air to provide nutrients to plant roots. Several agricultural techniques were developed in the past few decades to grow all kinds of plants in various environments. Although it was first discovered during the 1920s, aeroponics would rise to prominence in the late 90s when NASA considered it for growing crops without soil in harsh environments like space. Although aeroponics is still in its early stages, it is becoming quickly popular, especially in places where conventional farming is not possible. Aeroponics utilizes air for growing crops in place of soil. This will prove to be a key driving factor for the aeroponics biopharming market.
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Indoor Aeroponic Biopharming to Grow at Rapid Pace
Indoor and outdoor are some of the important applications of Aeroponic Biopharming. However, Indoor Aeroponic Biopharming are growing in demand with increasing popularity of Aeroponic Biopharming. While, outdoor segment also held significant share in total revenue generation with over 35% share in 2021. Urban population is increasing at a rapid pace across the world which in expected to drive the demand for Indoor Aeroponic Biopharming in the years to come.
Lighting Segment to Grow at Rapid Pace
Irrigation Component, Lighting, Sensor, Climate Control, Building Material and Others are some of the leading segments of Aeroponic Biopharming. Lighting is most predominant segment with over 25% share in total revenue generation in 2021. While, irrigation components are also growing in demand at a rapid pace. While, sensors and climate control are also expected to hold significant share of the global Aeroponic Biopharming market over the forecast period.
Asia Pacific is Leading Aeroponic Biopharming Demand
Aeroponic Biopharming is rapidly taking its roots in Asia Pacific. Asia Pacific held over 40% share in the global Aeroponic Biopharming market in 2021. Huge population, growing demand for food, shrinking arable land and need to feed huge population in the region are major growth drivers for the global Aeroponic Biopharming industry.
Major players operating in the Aeroponic Biopharming industry include but not limited to BrightFarms Inc, Evergreen Farm Oy, AeroFarms, LettUs Grow, CombaGroup SA, Altius Farms, Ponics Technologies, Aeroponics (AERO Development Corp), Living Greens Farm, and Freight Farms. Global Aeroponic Biopharming market is characterized by the presence of large number of manufacturers across the world. Increasing production capacity in order to achieve economies of scale and growing in market share is primary focus of the industry participants.
Market Segmentation
Global Aeroponic Biopharming Market by Components, 2016 – 2028
- Irrigation Component
- Lighting
- Sensor
- Climate Control
- Building Material
- Others
Global Aeroponic Biopharming Market by Application, 2016 – 2028
- Outdoor
- Indoor
Global Aeroponic Biopharming Market by Company, 2016 – 2028
- Aeroponics (AERO Development Corp)
- Evergreen Farm Oy
- LettUs Grow
- Freight Farms
- BrightFarms Inc
- AeroFarms
- Ponics Technologies
- Living Greens Farm
- Altius Farms
- CombaGroup SA
- Others
Browse the full report at https://www.credenceresearch.com/report/aeroponic-biopharming-market
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