The global Hydroponics Market size is estimated to reach USD 10.98 billion by 2030, exhibiting a CAGR of 12.4% from 2024 to 2030, according to the new study conducted by Grand View Research, Inc. The integration of smart farming technologies, notably exemplified by the adoption of vertical farming, has played a pivotal role in advancing hydroponics and is projected to be a key driver of market growth. The continuous improvement in hydroponics technologies, coupled with the introduction of state-of-the-art innovations such as environmental and temperature sensing, remote growth monitoring, and automatic nutrient reading, is expected to significantly bolster the demand for hydroponic solutions in the market.
Based
on type, the market is categorized into aggregate systems and liquid systems.
The aggregate systems segment is projected to continue holding the largest
market share over the forecast period. The liquid systems segment is poised for
substantial growth at a high Compound Annual Growth Rate (CAGR) during the
forecast period. In contrast, aggregate hydroponics farming involves a range of
technologies, including drip, wick, and ebb and flow systems. In these methods,
plants are cultivated using a medium like rock wool or perlite. Selecting the
appropriate medium is crucial for farmers, considering variations in pH and
thickness that can impact root growth. However, liquid systems, such as
deep-water culture and Nutrient Film Technique (NFT), eliminate the need for
such media by delivering nutrients directly to the roots. This streamlined
approach not only enhances efficiency but also accelerates the time required
for yielding crops. Consequently, the adoption of liquid systems is anticipated
to experience substantial growth throughout the forecast period.
The
primary crops cultivated through the hydroponics method are tomatoes, lettuce,
cucumber, and herbs. The majority of indoor farmers use hydroponic systems to
grow tomatoes. As a result, the tomatoes segment dominates the entire market in
2022 and is estimated to continue its dominance over the forecast period.
Rising demand for organically grown, pesticide-free, and highly nutritious
vegetables is expected to drive the adoption of hydroponics for the cultivation
of lettuce and other leafy vegetables along with other indoor farming
techniques. Among all the leafy vegetables, green leaf lettuce is increasingly
gaining popularity among the growers owing to its high consumption rate and
worldwide demand. However, owing to the changing and favorable regulations
about the growth of legalized marijuana, cannabis farmers across the globe are
increasingly adopting the hydroponic farming method.
Asia
Pacific held the largest market share in 2023, as countries such as China,
India, and Japan are finding lucrative opportunities in hydroponics farming to
cater to the rising food demand. However, Europe is expected to register the
fastest CAGR over the forecast period owing to the favorable government
scenario regarding the development and adoption of alternative farming
technologies.
The
market is fragmented and has the presence of several key market players. Some
prominent players in the market include AeroFarms, AmHydro, Argus Control
Systems Limited, BrightFarms., Heliospectra and UrbanKisaan, among others.
These players are adopting strategies such as partnerships and collaborations
to gain a competitive edge. For instance, AeroFarms and Silal, a prominent
fresh produce and agri-tech company in Abu Dhabi, have entered into a
Memorandum of Understanding (MoU) to establish a durable research and
development partnership focused on knowledge and technology exchange in
advanced farming methods such as verical farming and hydroponics farming with
local farmers.
List of Key Players in the Hydroponics Market
- AeroFarms
- AmHydro
- Argus
Control Systems Limited
- Emirates
Hydroponics Farms
- Freight
Farms, Inc.
- BrightFarms.
- Heliospectra
- Signify
Holding
- Nutrifresh
India
- UrbanKisaan
Related Press
Release@ Hydroponics
Market Report
Hydroponics Market Rport Highlights
- The market
is expected to grow due to factors such as increasing demand for
high-quality and pesticide-free crops, limited availability of arable
land, and advancements in technology for efficient cultivation.
- The
aggregate systems holds a significant market share in the market due to
factors such as their ability to provide controlled environments for plant
growth, efficient nutrient delivery systems, and the flexibility to
cultivate a wide range of crops.
- The lettuce
segment is projected to grow at the fastest CAGR of 15.4% over the
forecast period. The online distribution channel segment growth is
attributed to the factors such as its relatively short growth cycle,
rising demand from households and fast-food chains, and its raw
consumption in large quantities.
- Europe is
likely to emerge as the prominent segment, holding the largest market
share by 2030. The countries such as the Netherlands, Turkey, and Spain
witness a high adoption rate of hydroponics.
Request For A Free Consultation @ https://www.grandviewresearch.com/request-free-consultation/7033/rfc
Hydroponics Market Segmentation
Grand
View Research has segmented global hydroponics market report based on type,
crop type, crop area, and region
Hydroponics Type Outlook (Revenue, USD Billion, 2017 -
2030)
- Aggregate
Systems
- EBB &
Flow Systems
- Drip
Systems
- Wick
Systems
- Liquid
Systems
- Deep Water
Culture
- Nutrient
Film Technique (NFT)
- Aeroponics
Hydroponics Crop Type Outlook (Revenue, USD Billion, 2017
- 2030)
- Tomatoes
- Lettuce
- Peppers
- Cucumbers
- Herbs
- Others
Hydroponics Crop Area Outlook (Revenue, USD
Billion, 2017 - 2030)
- Upto 1000
sq.ft.
- 1000-50000
sq.ft.
- Above 50000
sq.ft
Hydroponics Regional Outlook (Revenue, USD Billion, 2017
- 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- Japan
- India
- South
America
- Brazil
- Middle East
and Africa (MEA)
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
