WASHINGTON, Oct. 10, 2023 (GLOBE NEWSWIRE) -- As per Vantage Market Research, the Global Hydroponics Market is experiencing significant expansion due to the growing demand for organic foods and the increasing adoption of Hydroponics techniques in agriculture.
According to Vantage Market Research, the Global Hydroponics Market is estimated to be valued at USD 58.3 Billion by 2030 and is expected to exhibit a CAGR of 7.5% from 2023 to 2030. The global Hydroponics market grew to USD 35.2 Billion in 2022.
Hydroponics is the technique of raising plants without soil, using nutrient-rich water solutions instead. This method allows for higher yields, faster growth, and better control over the growing environment, making it an attractive option for farmers. The market is driven by increasing consumer demand for organic and pesticide-free produce. Hydroponics allows farmers to grow crops without harmful chemicals, offering a healthier and more environmentally friendly alternative to traditional farming.
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Key Highlights
- In 2022, Europe dominated the market with 42.00% of total revenue.
- The Asia Pacific region will probably see maximum market growth during the forecast period.
- By Farming Methods, the Outdoor segment accounted for the most significant market growth. It contributed over 55.9% of the total revenue share in 2022.
- By Type, the Liquid systems segment experienced the most significant market growth in 2022.
One of the key drivers of the market is the rising global population and the need for sustainable and efficient agricultural practices. Hydroponics allows for the cultivation of crops in areas with limited access to fertile soil, making it an ideal solution for urban farming and areas with a shortage of arable land. In addition, Hydroponics uses less water than traditional farming methods, making it a more sustainable choice.
Top Companies in The Global Hydroponics Market
- AeroFarms Inc. (U.S.)
- AmHydro (U.S.)
- Argus Control Systems Ltd. (Canada)
- Emirates Hydroponics Farms (U.A.E.)
- Freight Farms (U.S.)
- Green Sense Farms Holdings Inc. (U.S.)
- LumiGrow Inc. (U.S.)
- Signify Holding (Netherlands)
- BrightFarms (U.S.)
- Infarm (Germany)
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Factors Affecting the Growth of the Hydroponics Industry
Several factors can have an impact on the Hydroponics industry's growth. Some of these factors include:
1. Technological advancements: The development and availability of advanced and efficient hydroponic systems, such as vertical farming and aeroponics, have contributed to the industry's growth. These systems allow for increased production, reduced water and nutrient usage, and improved crop quality.
2. Increasing demand for locally grown produce: With rising concerns regarding the environmental impact of traditional agriculture, there is a rising demand for locally raised, sustainable, and pesticide-free produce. Hydroponics allows year-round production in controlled environments, making it an attractive option for consumers and retailers.
3. Limited arable land: The availability of arable land is decreasing globally due to urbanization, soil degradation, and climate change. Hydroponics offers a solution by allowing plants to grow in a soil-less medium, making it possible to cultivate crops in areas with limited space and poor soil quality.
4. Water scarcity: Traditional agriculture is water-intensive, and with the increasing shortage of water resources, Hydroponics offers a more sustainable alternative. Hydroponic systems can recycle and reuse water, reducing water consumption compared to traditional farming methods.
5. Shorter time to harvest: Hydroponics can accelerate the growth of plants by providing optimal conditions for their development. This results in shorter growth cycles and faster time to harvest, allowing farmers to produce multiple cropping cycles in a year and meet the demands of consumers more efficiently.
6. Growing urban population: The world's urban population continuously increases, leading to a demand for fresh produce within urban areas. Hydroponics allows for the cultivation of crops in urban environments, such as rooftops and abandoned buildings, bringing the production closer to the consumer and reducing transportation costs and carbon emissions.
7. Increasing awareness of food safety and quality: Concerns about food safety and the use of pesticides in traditional agriculture have increased consumer demand for organic and pesticide-free produce. Hydroponics offers a controlled environment, reducing the need for pesticides and herbicides and providing a consistent supply of high-quality, safe, and traceable produce.
Top Trends in the Global Hydroponics Market
Technological advancements in Hydroponics systems, such as automation, sensor-based control systems, and data analytics, are improving the efficiency and productivity of hydroponic farming. These advancements help monitor and control temperature, humidity, nutrient levels, and lighting, resulting in optimized plant growth and reduced resource waste. Moreover, the factor for the incredible growth of Hydroponics in agriculture is the need for innovative farm production methods. As poor farmland management and overuse continue to devastate land, farmers and food producers turn to Hydroponics as a solution. Countries like Japan, with limited arable land and increasing land prices, have already taken a proactive approach to Hydroponics. They have adopted techniques such as the Nutrient Film Technique (NFT) or sand/gravel systems to grow crops. In particular, hydroponic rice production in Japan has seen advancements through biotechnological approaches.
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Recent Development of the Global Hydroponics Market
- In February 2023, to bring innovative Research and Development (R&D) to the UAE and the Middle East, AeroFarms, the world's leader in indoor vertical farming, recently debuted AeroFarms AgX, its newest cutting-edge indoor vertical farm. AeroFarms AgX advances sustainable controlled environment agriculture (CEA) and indoor vertical farming to address broader problems with the global agriculture supply chain.
- In January 2022, Infarm, the rapidly expanding urban farming company with a North American and global presence, is the first Hydroponics farming system to be classified and certified by UL. Now certified under CAN/UL 8800, the Standard for Horticultural Lighting Equipment and Systems, Infarm's in-store vertical farming units for growing herbs, salads, and other leafy greens in-store or in restaurants indicate that the farming units are made to meet the highest level of safety.
Market Drivers
There has been a growing consumer preference for organic and pesticide-free food products. Hydroponics allows for cultivating organic crops in a controlled environment without using soil or chemicals. This is driving the demand for Hydroponics as a sustainable and eco-friendly method of food production. Moreover, the rising popularity of vertical farming systems is driving the growth of the global Hydroponics market. Vertical farming is a form of Hydroponics that involves growing plants in stacked layers, using artificial lighting and climate control. This system allows for maximized space utilization, higher crop yields, and year-round production.
Market Restraints
Hydroponics is a relatively new and innovative farming method, and as such, it may face regulatory challenges and a need for standardized regulations in some regions. This can create uncertainty for growers and slow industry growth as regulatory frameworks catch up with the technology. Also, setting up a Hydroponics system requires significant capital investment in equipment, infrastructure, and technology. This high initial cost can deter potential growers, especially small-scale farmers or those with limited financial resources.
Market Opportunities
Protected cultivation techniques, such as greenhouse farming, are gaining popularity worldwide. Hydroponics can seamlessly integrate greenhouse structures to optimize plant growth and productivity. Furthermore, the Hydroponics industry is also witnessing significant technological advancements, leading to increased automation and precision in farming. Sensors, remote monitoring systems, and artificial intelligence-based algorithms are being integrated into hydroponic setups to fine-tune the growth conditions and optimize crop quality and yield.
Report Segmentation of the Global Hydroponics Market
Type Analysis
The liquid systems segment is witnessing major growth due to several factors. Firstly, liquid systems offer better control over plant nutrient supply, resulting in improved crop yields and consistency. Secondly, these systems are more efficient in water usage than traditional farming methods, making them environmentally friendly. Thirdly, liquid systems are popular among commercial and home gardeners, as they allow for year-round cultivation and take up less space.
Equipment Analysis
The LED grow lights segment is predicted to grow fastest during the forecast period. LED lights are highly energy-efficient and provide the specific light wavelengths needed for plant growth, making them ideal for indoor farming and hydroponic systems. These lights have a longer lifespan than traditional lighting methods, reducing maintenance costs for growers. Additionally, LED grow lights produce less heat, reducing the risk of plant damage or fire hazards.
Input Analysis
The nutrient segment is expected to account for a maximum revenue share in the market during the forecast period. The nutrient segment plays a crucial role in ensuring the growth and development of plants. Nutrients are essential elements that plants need to function and produce healthy and high-quality crops properly. The demand for nutrients in the Hydroponics market is constantly increasing as more and more farmers and growers adopt hydroponic systems to maximize yield and reduce traditional agricultural practices. Various factors such as urbanization, rising population, limited arable land, and climate change drive the growth of the global Hydroponics market, thereby boosting the demand for nutrients. Additionally, the increasing trend of indoor and vertical farming contributes to the growth of the nutrient segment.
Farming Method Analysis
The outdoor segment of the global Hydroponics market experienced 55.9% revenue growth in 2022 and is expected to continue expanding in the coming years. This segment involves the cultivation of crops in an outdoor environment, utilizing hydroponic systems that do not require soil for growth. One of the main drivers of growth in the outdoor segment is the increasing demand for high-quality, locally-grown produce. Furthermore, the outdoor segment allows for larger crop volumes than indoor Hydroponics, increasing farmers' productivity and profitability. Outdoor hydroponic systems also tend to have lower upfront costs than indoor setups, making them an attractive option for small to medium-scale farmers.
Crop Type Analysis
In 2022, the global Hydroponics market has seen a significant rise in demand for tomatoes, making it one of the key segments in this industry. Hydroponics allows the cultivation of tomatoes in a controlled environment, without the use of soil, resulting in higher yields and better-quality produce. Tomatoes are a popular choice in Hydroponics due to their high nutritional value, versatility in culinary applications, and year-round demand. They can be grown vertically, saving space, and are more resistant to diseases and pests. Additionally, Hydroponics enables tomatoes to be produced closer to urban centers, reducing transportation expenses and carbon footprint.
Browse market data Tables and Figures spread through 157 Pages and in-depth TOC on Hydroponics Market Forecast Report (2023-2030).
Market Segmentation
By Type
- Aggregate Systems
- Ebb & Flow Systems
- Drip Systems
- Wick Systems
- Liquid Systems
- Deep Water Culture
- Nutrient Film Technique (NFT)
- Aeroponics
By Equipment
- HVAC
- LED Grow Lights
- Control Systems
- Irrigation Systems
- Material Handling Equipment
- Other Equipment
By Input
- Nutrients
- Growth Media
By Farming Method
- Indoor (Forecast Period 44.1%)
- Outdoor (Dominating 55.9%)
By Crop Area
- Upto 1000 Square Feet
- 1000-10000 Square Feet
- 10000-50000 Square Feet
- Above 50000 Square Feet
By Crop Type
- Tomatoes
- Lettuce
- Peppers
- Cucumbers
- Herbs
- Fruits
- Other Crop Types
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 35.2 Billion |
| Revenue Forecast by 2030 | USD 58.3 Billion |
| CAGR | 7.5% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | AeroFarms Inc., AmHydro, Argus Control Systems Ltd., Emirates Hydroponics Farms, Freight Farms, Green Sense Farms Holdings Inc., LumiGrow Inc., Signify Holding, BrightFarms, Infarm |
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Regional Analysis
In 2022, Europe dominated the global Hydroponics market with a 42.00% growth rate due to the increasing demand for locally-grown, pesticide-free, and fresh produce. Advantages of Hydroponics, like higher crop yields, reduced water use, and the ability to grow crops in urban areas with limited arable land, have been driving the market growth. Several factors contribute to the development of the European Hydroponics market. The increasing adoption of Hydroponics in commercial farming and by home gardeners is a significant driver. The market also benefits from favorable government regulations and initiatives promoting sustainable agriculture and food security. Emerging trends in the European Hydroponics market include integrating technologies like artificial intelligence (AI) and the Internet of Things (IoT) to optimize crop growth and reduce operational costs. Vertical farming, which includes growing crops in vertically stacked trays or towers, is also gaining traction in the region.
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