Global Hydroponics Market Size study & Forecast, by Type (Aggregate Systems, Liquid Systems) by Crop Type (Tomatoes, Lettuce, Peppers, Cucumbers, Herbs and Others) and Regional Analysis, 2023-2030

Global Hydroponics Market Size study & Forecast, by Type (Aggregate Systems, Liquid Systems) by Crop Type (Tomatoes, Lettuce, Peppers, Cucumbers, Herbs and Others) and Regional Analysis, 2023-2030

Global Hydroponics Market is valued approximately at USD 4.65 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 11.9% over the forecast period 2023-2030. Hydroponics is a soilless method of cultivating plants; wherein mineral nutrient solutions are directly delivered to the plant roots in a controlled environment. This innovative agricultural technique allows for precise control over key factors such as nutrient levels, pH, and temperature, providing an optimal and stable growing environment. By eliminating the need for soil, hydroponics offers several advantages, including efficient use of water, faster plant growth, and the ability to grow crops in locations with poor soil quality. The Hydroponics market is expanding because of factors such as increasing indoor cultivation of vegetables, growing food demand, limited availability of cultivable land.

The increasing global population is driving a growing demand for food. According to the Food and Agriculture Organization (FAO) of the United Nations (UN), the world's population is anticipated to reach 9.1 billion by 2050, requiring a corresponding surge in food production ranging from 25% to 70%. This upswing is set to necessitate the exploration into innovative farming technologies designed to achieve increased yields in shorter periods is gaining traction. Notably, in regions such as the Asia Pacific and Europe, where arable land and water resources are increasingly scarce, there is surge in the embrace of alternative farming methods that promise elevated yields. This trend is anticipated to significantly contribute to the anticipated expansion of agricultural practices in these areas of the market. In addition, higher consumption of salads and exotic vegetables and rapid urbanization are some factors creating new opportunities for the market growth. However, the high initial setup costs and lack of awareness stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Hydroponics Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in 2022 owing to burgeoning population in the region, leading to an increased demand for sustainable and efficient agricultural practices, government initiatives promoting advanced agricultural technologies, coupled with a growing awareness of the benefits of soilless farming, further propel the hydroponics market in the Asia Pacific, creating a conducive environment for its sustained expansion. North America is expected to grow significantly during the forecast period, owing to factors such as growing adoption of alternative farming techniques in urban areas and presence of key market players in the region.

Major market player included in this report are:
BrightFarms
AmHydro
Argus Control Systems Limited
Emirates Hydroponics Farms
Freight Farms, Inc.
AeroFarms
Heliospectra
Signify Holding
Nutrifresh India
UrbanKisaan

Recent Developments in the Market:
 In October 2022, GrowGeneration Corp (GRWG) has inaugurated its inaugural hydroponic store in Virginia, covering an expansive 9,000 square feet in Richmond. This strategic move marks the company's entrance into the burgeoning hydroponic market in the state. Capitalizing on the momentum, GRWG has outlined plans for further expansion, solidifying its presence in Virginia.
 In July 2022, Bustanica has unveiled the world's largest hydroponic farm, supported by a substantial investment of USD 40 million. This groundbreaking facility represents the inaugural vertical farm for Emirates Crop One, a collaborative venture between Emirates Flight Catering (EKFC), a major catering operation serving over 100 airlines globally, and Crop One, a pioneer in technology-driven indoor vertical farming.

Global Hydroponics Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Type, Crop Type, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Aggregate Systems
Liquid Systems

By Crop Type:
Tomatoes
Lettuce
Peppers
Cucumbers
Herbs
Others


By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Companies Mentioned
BrightFarms
AmHydro
Argus Control Systems Limited
Emirates Hydroponics Farms
Freight Farms, Inc.
AeroFarms
Heliospectra
Signify Holding
Nutrifresh India
UrbanKisaan

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