Regardless of a company’s size or income, the most recent research study offers an exhaustive analysis of the Hydroponics market for 2023–2032. This survey study discusses the key market trends and the industry’s outlook for the forecast years.
Global Hydroponics Market presents a variety of new trends that have a significant impact on market growth dynamics as well as the most recent industry knowledge. According to the most recent projection, global growth will reach its lowest point this year at 2.8% before edging up to 3.0% in 2024. Although more slowly than expected, the rate of global inflation will drop from 8.7% in 2022 to 7.0% this year and 4.9% by 2024. Notably, growth rates for emerging markets and developing economies have increased significantly in many cases, from 2.8 percent in 2022 to 4.5% this year.
Global Hydroponics Market Size – Industry Trends & Forecast Report 2026
The Global Hydroponics Market has reached USD in 2019 and is further projected to reach USD by 2026, growing at a CAGR of % during the forecast period. The burden on the agriculture industry to meet the rising demand for grains and food leads to the hunt for high-yielding farming methods, such as accuracy farming and urban farming. Hydroponics thus is looked upon as a possible solution for the rising distress about food security in the upcoming years.
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Global Hydroponics Market Overview:
Hydroponic farming is a technique of rising plants without soil, where the soil is substituted by a mineral solution injected around the plant roots. Herein, the plant roots are underwater under the chemical solution and checked occasionally to safeguard that proper chemical composition is maintained for growth. As such, the hydroponics method eliminates the risk of ailments that are triggered by soil organisms. Additionally, the hydroponically grown plants harvest a higher yield than alike plants grown in soil because of good control over the nutrients.
The acceptance of substitute farming methods for cannabis farming is rapidly increasing, due to the ratification of marijuana in countries like South Africa, Canada, the Czech Republic, and others. Growing awareness among consumers regarding the effects of pesticides and artificial maturing agents over their well-being is expected to motivate the request for hydroponics, as the method eliminates the need for such products, thereby providing nutritionally superior vegetables. Low installation cost and ease of operation of these systems are also predictable to increase the adoption in near future.
Global Hydroponics Market Forecast and Trends
Growth Drivers
Higher yield as compared to conventional agriculture practices
Growing demand for maintainable and safe farming performance & advanced yield of crops grown under hydroponic facility over old-style farming are the main factors driving the global hydroponics market. Moreover, growing consumer requests for pesticide-free, organic food in tier-1 cities are driving the growth of institutions of hydroponics farms. These hydroponics farming techniques hamper the usage of synthetic pesticides, growth hormones, and antibiotics, allowing the produce to meet organic standards. Also, owing to controlled ecological conditions, the result of climatic changes can be stable with the help of these systems, thereby not affecting the annual crop production. CEH techniques directly affect the crop harvest cycle. Since climatic changes show a negligible effect on such systems, crops can be produced all year round, thereby again increasing the produce.
Higher Consumption of Salads and Vegetables
The demand for interesting fruits and vegetables has been regularly growing at an advanced rate due to the improved purchasing power of customers. The price of these exotic products is high, as most of these products are imported, and thus, numerous research institutions and universities are concentrating on founding more easy hydroponics systems, to hasten the production of exotic fruits and vegetables and meet the escalating demand. Increasing alertness among the consumers of eating fresh vegetables will also fuel the market in the future. Request for Exotic vegetables like red and yellow capsicum, red lettuce in Retail companies like KFC, Pizza, Burger King will drive the market.
Restraint
High capital investment for large-scale farms
Dissimilar types of gear including HVAC systems, control systems, fans, ventilation, irrigation systems, rails, and lights are the main cost reasons in a hydroponic farm. This huge cost for the early set up of the system is the main reason abstaining farmers from spending in these systems. However, the yield got from these systems is advanced, and the product can also be advertised as premium products, thereby nurturing the ROI for growers.
Impact of COVID-19 in the industry
Amid the extent of the Covid-19 epidemic, many persons have settled a serious point of view towards outdoor food. With health and food safety fetching the key focus, the populations around the sphere have shown a preference for home cooking and self-made/homemade meals. This has put the food and hotel industry in jeopardy. After the overwhelming outbreak of the coronavirus epidemic, the acceptance rate of urban hydroponic agricultural systems around the world is projected to increase sharply. The agriculture industry faced tests during the initial phases of the range of the pandemic. There were huge labor shortages on the farm, some farmers missed their window of chance for reaping for seasonal crops, the dropping prices of agricultural products, and the disturbance of logistics. Many countries also realized they are over need on imports of food materials and hence began highlighting on internal and domestic productions.
Global Hydroponics Market: By Type
Liquid systems have been proved to be effective and also cost-effective in contrast to basic models. The early cost related to the setup of hydroponic systems is extreme, which is also one of the main limits of this industry. However, the economics of liquid systems are perceived to be feasible, since all liquid systems operate in a closed mode, which reduces the cost of nutrient solution. Also, in contrast with the closed model of aggregate systems, liquid systems show higher productivity, and hence, the mainstream of the growers have been fitting liquid systems for their crop making.
Global Hydroponics Market: By Equipment
Heating, Ventilation & Air Conditioning or HVAC plays a key role in the development of indoor growers, as the system is accountable for cooling, dehumidification, and maintaining the best temperature inside the facility. HVAC systems are vital for the operation of hydroponic and aeroponic farms and should be dependable and well-controlled. Further, the economic costs of the system over other gear and utilities that go into hydroponics the HVAC is projected to skill an increasing demand.
Global Hydroponics Market: By Input
The nutrients sub-segment is projected to detect the fastest development in the by input segment of the hydroponics market over the prediction period. As the crops under hydroponics grow without soil, the need for peripheral nutrients is very high for hydroponic-based crops. With the surge in the use of soilless growing techniques in hydroponics, most of the crops are directly grownup with the roots in the nutrient medium. This leads to a surge in demand for nutrients in this industry.
Global Hydroponics Market: Regional insights
Europe has usually been at the lead of implementing advanced practices in hydroponic smart greenhouse gardening. Countries such as Spain, Netherlands, and France have large areas under greenhouse farming. However, in the Netherlands, the cultivators mostly cultivate their plants in meek tunnel-like greenhouses without the use of climate control technologies. Advancement in greenhouse farming has reinforced the development of hydroponics in Europe. According to national government statistics, the acceptance of hydroponics has been seen to be the uppermost across all European countries. Thus the market is highly settled in the region.
Recent Development
· In April 2020, Aerofarms has initiated the establishment of the biggest Aerofarms center which be the largest of its kind spread across 90,000 sqft. The facility is dedicated to state-of-art R&D equipment and the commercialization of locally demanded crops.
· In April 2020, Scotts Miracle moved its operations to Temecula, California manufacturing plant to produce face shields, due to a shortage of personal protective equipment to contribute to the fight against the Covid-19 outbreak.
Competitive landscape
Key players in the Hydroponics Market include- Signify Holdings (Netherlands), Argus Control Systems (Canada), Heliospectra AB (Sweden), Scotts Miracle Gro (US), American Hydroponics (US), LumiGrow (US), Emerald Harvest (US), Hydroponic Systems International (Spain), Advanced Nutrients (Canada), Vitalink (UK), Hydrodynamics International (Spain), Logiqs B.V (Netherlands), Grobo (US), and American Hydroponics (US) and other prominent players.
Scope of the Report
| Attribute | Details |
| Years Considered | Historical data – 2016-2019Base Year – 2019Forecast – 2020 – 2026 |
| Facts Covered | Revenue in USD Billion |
| Market Coverage | U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, AUAE, South Africa, Saudi Arabia |
| Product/Service Segmentation | By Type,By Crop,By Equipment,By Input,By Region |
| Key Players | Key players for Hydroponics Market includes: Signify Holdings (Netherlands), Argus Control Systems (Canada), Heliospectra AB (Sweden), Scotts Miracle Gro (US), American Hydroponics (US), LumiGrow (US), Emerald Harvest (US), Hydroponic Systems International (Spain), Advanced Nutrients (Canada), Vitalink (UK), Hydrodynamics International (Spain), Logiqs B.V (Netherlands), Grobo (US), and American Hydroponics (US) and other prominent players. |
By Type
Ø Aggregate Systems
Ø Liquid Systems
By Crop
Ø Vegetables
Ø Fruits
Ø Flowers
By Equipment
Ø HVAC
Ø Led Grow Light
Ø Irrigation Systems
Ø Material Handling
Ø Control Systems
By Input
Ø Nutrients
o NPK
o Trace Minerals
o Others
Ø Grow Media
o Rockwool
o Perlite & Vermiculite
o Coco Fiber
o Others
By Region
Ø Asia Pacific
Ø North America
Ø Europe
Ø Middle East & Africa
Ø Latin America
Table of Content
Chapter 1: Global Hydroponics Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Hydroponics market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Hydroponics Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Hydroponics market Size Forecast (2023-2032).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Hydroponics market revenues on a global, regional, and country level, projecting trends until 2032. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Hydroponics market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Hydroponics market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Hydroponics business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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