Space Agriculture Market Size to Surpass US$ 12.96 Billion by 2033, The Brainy Insights
The global space agriculture market size is anticipated to grow from USD 5 billion to USD 12.96 billion in 10 years. The market will experience rapid growth due to technological advancements during the forecast period.
Newark, May 09, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 5 billion in 2023 global space agriculture market will reach USD 12.96 billion in 2033. Astroculture or space farming are other names for space agriculture. Plant cultivation in space is used to supply food, oxygen, and other resources during extended human space missions. It entails cultivating plants in controlled settings, such as space stations, spacecraft, or habitats on other planets, such as the Moon or Mars. Since soil is not used, closed-loop systems, hydroponics, and aeroponics, along with controlled ambient conditions, are used. Space agriculture is significant because it can assist long-term human colonization efforts and satisfy astronauts' requirements in orbit.*The Full Study is Readily Available | Download the Sample Pages of this Report @ https://www.thebrainyinsights.com/enquiry/sample-request/14262*It produces oxygen through photosynthesis, gives fresh food, and has psychological advantages by fostering a bond with the natural world. Furthermore, space farming seeks to establish self-sufficient colonies by utilizing native resources on celestial planets. In addition to giving astronauts access to fresh food, space agriculture provides subjects for research on how plants thrive in microgravity. Space agriculture offers several advantages, such as better nutrition for astronauts, environmental control, scientific advancement, and sustainable resource utilization.*Scope of Space Agriculture Market**Report Coverage* *Details*
CAGR 10% from 2024 to 2033
Market Size in 2023 USD 5 billion
Market Size by 2033 USD 12.96 billion
Largest Market North America
Base Year 2023
Forecast Year 2024 to 2033
Historical Year 2020-2022
Segments Covered Type, Application, Regions
*Key Insight of the Global Space Agriculture Market**North America will dominate the market during the forecast period.*The area provides substantial infrastructure and funding for space exploration, with commercial enterprises like SpaceX and government agencies like NASA spearheading R&D initiatives. Furthermore, North America's abundance of research facilities, universities, and labs specializing in biotechnology, space science, and agriculture promotes cooperation and innovation in space agriculture. Agriculture and other space-related businesses are increasingly encouraged to innovate and go global given the legal framework and supportive policies.*In 2023, the seed segment dominated the market, with a 55% market share and revenue of 2.75 billion.*The type segment is divided into plant and seed. In 2023, the seed segment dominated the market, with a 55% market share and revenue of 2.75 billion.*In 2023, the agriculture segment dominated the market with the largest market share of 60% and market revenue of 3 billion.*The application segment is divided into scientific research and agriculture. In 2023, the agriculture segment dominated the market with the largest market share of 60% and market revenue of 3 billion.*Personalized your customization here: https://www.thebrainyinsights.com/enquiry/request-customization/14262 **Advancement in market*Grassland producers can now remotely measure the height of their grass from orbit with a new tool developed by Aspia Orbit that uses artificial intelligence and satellite data. Aspia Space and Origin Digital will introduce the service to Irish farmers this summer. It seeks to enable the remote measurement of pasture by precisely measuring the height of grass using Earth observation satellite imagery, doing away with a labour-intensive and time-consuming procedure in the grassland farming industry. This and Origin Digital's experience should allow for new perspectives that boost profitability and production in the land management and grassland farming industries.*Market Dynamics **Driver: The growing investments in and efforts to advance agricultural and scientific research.*One of the main factors driving the growing need and demand for space agriculture is scientific research. This study offers priceless insights on a range of plant biology topics. Scientists may learn more about basic biological processes in microgravity by cultivating plants in space, which will help advance Earthly and spacefaring agricultural methods. A better understanding of how plants withstand harsh conditions, such as microgravity, cosmic radiation, and resource scarcity, can aid in developing methods to increase crop resilience and productivity on Earth. Furthermore, space agricultural research advances the development of regenerative and closed-loop life support systems, both critical to maintaining human life in space habitats. Moreover, space agriculture offers a distinct setting for researching the impacts of In addition; space agriculture offers a unique setting for researching how space radiation and microgravity affect plant genetics and gene expression, which could lead to advances in genetic modification and crop development. As a result, with increased financing and attempts to expand the field, scientific research in space agriculture will flourish and help the market thrive.*Restraints: The limitations imposed by cost and technology.*Innovative cultivation methods, closed-loop life support systems, and regenerative technologies come at a significant cost in research and development (R&D). High upfront costs are associated with the construction of space agriculture infrastructure, which includes housing, greenhouses, and life support systems. The cost is increased by the launch of payloads and equipment transportation to space habitats. Costs are increased even further because many space agriculture technologies are still in the early stages of development and need more time, testing, and refining before they are ready for operational usage. Therefore, the market's expansion would be hampered by cost and technology limitations.*Opportunities: Technological developments.*Technological developments have transformed space agriculture, increasing its viability, effectiveness, and sustainability. Plants may grow in regulated settings without soil given controlled environment agriculture (CEA) techniques like hydroponics and aeroponics, which maximize resource utilization and spatial efficiency. Automation reduces the need for human involvement and ensures the effective operation of agricultural systems by managing elements like irrigation, nutrient delivery, and environmental monitoring. Bioregenerative Life Support Systems (BLSS) recycle trash while utilizing biological processes to supply astronauts with food, oxygen, and water. Bioregenerative Life Support Systems (BLSS) recycle waste materials inside closed-loop ecosystems while integrating biological processes to supply astronauts with food, oxygen, and water. Creative designs and construction methods optimize space utilization and guarantee structural integrity in microgravity situations. Thus, throughout the projected period, the growth of the worldwide space agriculture market will be propelled by technological improvements.*Challenges: Limited space and resources.*Space habitats have finite space available for agriculture. Maximizing crop yield while minimizing resource consumption is crucial for sustainable food production in space. balancing crop nutritional needs with available space and resources remains a challenge. Energy requirements are another challenge for space agriculture. Artificial lighting systems are essential for providing light without sunlight, but powering these systems and heating and environmental control can be energy-intensive. Resource recycling and closed-loop systems are essential but challenging aspects of space agriculture. Achieving complete closure and efficiency in resource recycling poses technical challenges, requiring continuous optimization of waste processing technologies. Therefore, limited space and resources, energy requirements, and technically complex closed-loop systems present significant challenges for space agriculture.*You can place an order or ask any questions, please feel free to contact at sales@thebrainyinsights.com | +1-315-215-1633 **Some of the major players operating in the global space agriculture market are:*• AeroFarms
• Aeroponics International
• Blue Origin
• Canopy Growth Corporation
• Cronos Group
• Orbital Technologies Corporation
• Space Garden
• Space Tango
• SpaceX
• Zero-G Kitchen*Key Segments covered in the market:*By Type• Plant
• SeedBy Application• Scientific Research
• AgricultureBy Region• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)*Immediate Delivery Available | Buy This Premium Research Report @ https://www.thebrainyinsights.com/buy-now/14262/single **About the report:*The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.*About The Brainy Insights:*The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.*Contact Us*Avinash D
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