Hydroponics Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis

Hydroponics Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis

Global Hydroponics Market will grow to US$ 22.18 Billion by 2030, as per Renub Research. Hydroponics is a plant growing way primarily using water-based nutrient solutions instead of soil. The plant's root system is held up through an inert medium with vermiculite, peat moss, rock wool, perlite, or clay pellets. Plants receive essential nutrients from directly contacting the nutrient solution via their roots. This facilitates the growth of the plant. Furthermore, the roots have access to oxygen, which is key for their development. This growing plant method is famous amongst industrial growers as it is simple to install, has a high Return on Investment, and is less expensive than other strategies. Hydroponics reduces water wastage and is the most water-efficient farming method as it recycles much water.

Hydroponics is a category of crop cultivation that does not use soil. It's becoming even more familiar due to the fact it may produce better quality and quantity plants. This is feasible because the vital nutrients may be managed more successfully. Moreover, hydroponics is considered an approach to the hassle of food safety, as it can offer a solid and nutritious food delivery. With the global rising populace, the agricultural sector is adding the increasing pressure to meet world food production needs, and hydroponics is anticipated to play a pivotal role in addressing this trouble.

The global populace is rising exponentially, adding more than 200,000 humans daily to the worldwide food demand. Simultaneously, the amount of arable land required for cultivation is reducing, and manufacturing expenses are generally hovering due to crop damage by pests and natural disasters which incorporates droughts and floods. To cope with this, there has been large investment in commercial hydroponic structures globally. Hydroponics is a powerful way of growing food because it takes up much less area and may be used by urban and rural regions, even those without land. The importance of hydroponic farming has risen amid growing issues approximately environmental degradation due to greenhouse outcomes. Furthermore, with the growing improvement of agricultural infrastructure, the demand for hydroponic farming has often stepped forward to satisfy the ever-growing demand for vegetables.

Global hydroponic market will grow at a CAGR of 13.12% during 2024 to 2030

Cultivating plants without pesticides or chemical substances is extremely useful as it necessitates decreased water consumption, efforts, and soil utilization. People are more interested by spending on vegetables and fruits which are pesticide free. This makes the market for hydroponics systems more robust. Nowadays, more and more people are using machines to move plants. This makes the hydroponics market more famous due to the unit tasks like transplanting, seeding, packaging, harvesting, and cleansing. People are worried about availability, and food security is expected to create more opportunities for market growth. Hydroponic farming has been regularly expanding as agricultural infrastructures enhances. People are worried about environmental damage from greenhouse gases, so hydroponic agriculture is becoming more critical.

The worldwide population will reach 9.1 billion by 2050, creating a tremendous upward thrust in food manufacturing. As a result, there is an increasing need for alternative farming technologies that could supply high yields within shorter timeframes. This demand is relatively high in Asia Pacific and Europe, where arable land and water resources are becoming increasingly scarcer. Adopting alternative high-yield farming technologies is anticipated to contribute to marketplace growth. The global hydroponics market was US$ 9.36 Billion in 2023.

Liquid system market is anticipated to grow steadily throughout the forecast period

The system segments in the Global Hydroponics Market into Aggregate and Liquid Systems. Based on the forecast, the hydroponics agriculture industry is anticipated to experience a surge in the liquid system sector growth rate. This surge can be attributed to the increasing preference among growers for closed-system cultivation. Among the various types of liquid systems, the Deepwater and Nutrient Film Technique (NFT) is mainly used to cultivate leafy lettuce.

Unlike conventional strategies, using soil or other stable media, the liquid system immerses the plant roots directly within the nutrient-rich solution, simplifying the cultivation system. This technique also facilitates growers to optimize resource utilization and reduce water consumption, making it an environmentally sustainable opportunity. The growing adoption of liquid systems is predicted to revolutionize the hydroponics agriculture industry and contribute notably to the arena's ordinary increase.

Moreover, the liquid system boosts up by imparting nutrients immediately to the plant roots, resulting in maximum yields. Although soilless farming methods reduce the hazard of soil-borne diseases, the recirculation of nutrient solutions in closed systems increases the capacity to spread pathogens.

Tomato Crop is expected to hold the maximum share in the global hydroponics industry

By Crop Type, the Global Hydroponics Market is divided into Tomatoes, Herbs, Lettuce, Cucumbers, Peppers, and Others. Tomatoes are the most popular hydroponic crops grown across the globe due to their rapidly increasing nature and lower water intake than conventionally farmed tomatoes. Hydroponic tomato cultivation is widely practiced indoors using rock wool, perlite, or coconut coir materials. The hydroponic approach of developing plants without soil and using nutrient-rich water solutions is gaining recognition. This technique is expected to grow significantly in Europe and Asia Pacific by 2030. The main factors are that there may be a growing demand for locally grown sparkling produce year-round and a need to preserve water and land.

HVAC system segment is predicted to capture the leading proportion within the global hydroponics system market

By Equipment, the Global Hydroponics Market is classified into HVAC, LED Grow Light, Irrigation Systems, Material Handling, Control Systems, and Others. The HVAC appliance segment is poised to dominate the global hydroponics device market, representing a considerable share. This projection is pushed by the crucial role of ventilation, air conditioning, and heating structures in keeping hydroponic plants in the most suitable growing conditions. As the demand for specific environmental control in hydroponic setup rises, HVAC plays a pivotal role in regulating temperature, humidity, and ventilation. This predicted dominance underscores the critical contribution of HVAC solutions to hydroponic cultivation techniques' global performance and productivity.

China Hydroponic Industry is projected to have significant growth throughout the upcoming years

By Country, Global Hydroponics Market is split into North America (Canada, United States), Europe (Germany, Spain, Italy, United Kingdom, Belgium, Netherlands, France, Turkey), Asia Pacific (China, Japan, India, South Korea, Thailand, Malaysia, Indonesia, Australia, New Zealand) South America (Brazil, Mexico, Argentina), Middle East & Africa (Saudi Arabia UAE and South Africa). China is poised for growth throughout the upcoming year, buoyed by various factors propelling its economic landscape. China's sturdy industrialization, technological improvements, and strategic investments contribute to this sustained expansion. China's emphasis on innovation, infrastructural development, and global trade partnerships positions it as a vital participant worldwide. As the world's most populous country, China's consumer market and production capabilities further fuel its growth trajectory. The constant upward trend highlights China's resilience on the global economic level, fostering optimism for persistent improvement.

Key Player

Village Farms International Inc., Scotts-Miracle-Gro, AeroFarms, AmHydro, Argus Control Systems Limited, Emirates Hydroponics Farms, Freight Farms Inc., and BrightFarms are outstanding players within the Global Hydroponics Market.

Renub Research Latest Report “Global Hydroponics Market by Type (Aggregate, liquid) by Input (Nutrients, Growth Medium) by Crops (Tomatoes, Herbs, Lettuce, Cucumbers, Peppers, and Others) by Equipment (HVAC, LED Grow Light, Irrigation Systems, Material Handling, Control Systems, and Others.) by Region (North America (United States, Canada), Europe (France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, Turkey), Asia Pacific (China, Japan, India, Australia, South Korea, Thailand, Malaysia, Indonesia, New Zealand, South America (Brazil, Mexico, Argentina), Middle East & Africa (South Africa, Saudi Arabia and UAE) by Company Analysis (Village Farms International Inc., Scotts-Miracle-Gro, AeroFarms, AmHydro, Argus Control Systems Limited, Emirates Hydroponics Farms, Freight Farms Inc., and BrightFarms)” studies the Global Hydroponics Market. The report also comprises qualitative factors such as drivers, restraints, and opportunities.

Type – Hydroponics Market have been covered from 2 viewpoints

1. Aggregate Systems
2. Liquid Systems

Crops – Hydroponics Market have been covered from 6 viewpoints

1. Tomatoes
2. Herbs
3. Lettuce
4. Cucumbers
5. Peppers
6. Others

Equipment – Hydroponics Market have been covered from 6 viewpoints

1. HVAC
2. LED Grow Light
3. Irrigation Systems
4. Material Handling
5. Control Systems
6. Others

Country – Market have been covered from 25 Countries Hydroponic Industry viewpoints

1. North America

1.1 United States
1.2 Canada

2. Europe

2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey

3. Asia Pacific

3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand

4. Latin America

4.1 Brazil
4.2 Mexico
4.3 Argentina

5. Middle East & Africa

5.1 Saudi Arabia
5.2 UAE
5.3 South Africa

Company Analysis

• Overview
• Recent Development
• Revenue Analysis

Company Analysis:

1. Village Farms International Inc.
2. Scotts-Miracle-Gro
3. AeroFarms
4. AmHydro
5. Argus Control Systems Limited
6. Emirates Hydroponics Farms
7. Freight Farms Inc.
8. BrightFarms