Hydroponics Market is expected to reach above USD 4.53 billion by 2030- Exactitude Consultancy
The Hydroponics market is segmented based on material, process, crop type and region. Based on Type, market share of roughly 55% was controlled by aggregate systems, which are widely used by indoor hydroponic farmers due to their affordability and ease of setup
Luton, Bedfordshire, United Kingdom, July 03, 2024 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Hydroponics Market.
The hydroponics market is expected to grow at 7.4% CAGR from 2020 to 2029. It is expected to reach above USD 4.53 billion by 2030 from USD 2.36 billion in 2020.
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The Hydroponics Market has experienced swift and substantial growth recently, with projections indicating that this expansion will continue from 2024 to 2030. The positive trajectory in market dynamics, combined with anticipated ongoing growth, suggests robust growth rates throughout the forecast period. In essence, the market is poised for significant development. Over the past few years, the Hydroponics Market has seen rapid and considerable growth, and the forecasts for sustained expansion between 2024 and 2030 reflect a consistent upward trend, indicating strong growth rates in the future.
Throughout the forecast period from 2024 to 2030, the Hydroponics Market undergoes a thorough assessment. This analysis explores distinct segments, examining prevalent trends and key factors that shape the market landscape. It includes an in-depth investigation of market dynamics, covering drivers, restraints, opportunities, and challenges, to understand their collective impact on the market. Both internal elements like drivers and restraints, as well as external aspects such as market opportunities and challenges, are considered. The current market study offers a revenue outlook for the market's development during the forecast period.
Competitive Landscape:
The Hydroponics market key players Triton Food works Pvt, Ltd, Green Sense Farms, Emirated Hydroponics Farm, Gotham Greens, American Hydroponics, Advanced Nutrients, Vitalink, AeroFarms, Badia Farms, InFarm, Bright Farms..
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Recent Developments
25-10-2022: – AeroFarms announced the expansion from the Northeast region to all Whole Foods Market locations nationwide to meet increased customer demand for its specialty greens celebrated for their elevated flavor. The AeroFarms national launch is an industry first for an indoor grower to be part of the Whole Foods Market Global Planogram.
20-09-2022: – Leading vertical farm companies had committed to a Vertical Farming Identity Statement and Industry Manifesto. An unprecedented industry momentum to contribute jointly to a sustainable transformation of global food systems.
Report Scope:
| ATTRIBUTE | DETAILS |
| Study period | 2020-2029 |
| Base year | 2021 |
| Estimated year | 2022 |
| Forecasted year | 2022-2029 |
| Historical period | 2018-2020 |
| Unit | Value (USD BILLION) |
| Segmentation | By Type, By Input, By Crop Type, By Region |
| By Type | Aggregate Systems |
| Liquid Systems | |
| By Input | Nutrients |
| Grow Media | |
| By Crop Type | Vegetables |
| Fruits | |
| Flowers | |
| By Region | North America |
| Asia Pacific | |
| Europe | |
| South America | |
| Middle East Asia & Africa |
Hydroponics Market Segment Analysis
The Hydroponics market is segmented based on material, process, crop type and region. Based on Type, market share of roughly 55% was controlled by aggregate systems, which are widely used by indoor hydroponic farmers due to their affordability and ease of setup. The plants in these systems are supported by inert and solid media, such as peat, rock wool, vermiculite, sand, sawdust, perlite, or coconut coir. While closed system cultivation is becoming more and more popular among farmers, the liquid systems market is predicted to grow at the quickest CAGR.
Based on input, Nutrients and growth media make up the two segments of the hydroponics input market. The hydroponics market is anticipated to be dominated by the fertilizers segment. This segment’s substantial market share is explained by the requirement to grow crops in both aggregate and non-aggregate systems. The three main nutrients that plants need to grow are nitrogen, phosphorus, and potassium. Lack of these nutrients causes the plants to become discolored, grow slowly, and have sporadic blotches.
Based on crop type, the hydroponics market is divided into segments for fruits, vegetables, flowers, and other types of crops. The worldwide hydroponics market is anticipated to be dominated by the vegetable segment. The significant market position held by this sector can be attributable to the rising demand for exotic and vegetables of the highest quality. The greater spending capacity of customers in most developed and emerging countries has led to a continuous increase in the demand for exotic vegetables.
On the basis of geography
Europe has been one of the main regions in the world market for hydroponics, accounting for 34% of the total market, and it is anticipated that this trend would continue in the years to come. The popularity of hydroponic farming is being sparked by the rising demand for organic produce in Europe. Growers like hydroponics because it enables the production of premium organic produce in a controlled environment. The Netherlands is one of the top hydroponic farming nations in the world and is home to some of the biggest hydroponic farms in Europe. The nation has a long history of agricultural innovation and is renowned for its cutting-edge technology and environmentally friendly farming methods.
In addition, to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
We have also focused on technological lead, profitability, company size, company valuation in relation to the industry and analysis of products and applications in relation to market growth and market share.
We Offer Customization on Report Based on Specific Client Requirement:
- Free Country Level analysis for any +5 countries of your choice.
- Free Competitive analysis of any +5 key market players.
- Free +40 analyst hours to cover any other data point.
About Exactitude Consultancy
Exactitude Consultancy is a market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.
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