New York, United States , May 30, 2023 (GLOBE NEWSWIRE) -- The Global Hydroponics Market Size is to grow from USD 11.8 billion in 2022 to USD 41.8 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 13.5% during the projected period. The increasing use of hydroponic systems for indoor vegetable farming can be attributed to this rapid development of the market. Furthermore, the widespread use of alternative farming methods for cannabis cultivation is rapidly increasing as a result of marijuana legalization in countries such as Canada, the Czech Republic, South Africa, and others.
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Hydroponics is a method of growing plants that does not require soil and instead grows the plants in a nutrient-rich solution. This method has grown in popularity in recent years due to the numerous advantages it has over traditional soil-based agriculture, such as greater control over plant growth, higher yields, and more efficient use of resources such as water and space. Because of favorable government initiatives, technological advancements, and the presence of major hydroponic companies, North America dominates the market. Europe is also a significant market, owing to rising consumer demand for locally grown produce and environmentally friendly farming practices. Because of rising urbanization, high population density, and increased awareness of hydroponics, the Asia Pacific region is experiencing rapid growth.
Arable land availability is decreasing as a result of factors such as urbanization, soil degradation, and climate change. Hydroponics enables farming in areas where fertile soil is scarce, such as deserts, rocky terrains, and urban areas. This technology expands agricultural possibilities and ensures food production in areas where traditional farming is difficult. However, the installation of hydroponic systems necessitates a significant initial investment in infrastructure, equipment, lighting systems, climate control systems, and nutrient solutions. The initial costs of establishing a hydroponic farm can be significant, particularly for commercial-scale operations. This high entry barrier may discourage small-scale farmers or those with limited financial resources from adopting hydroponics.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on "Global Hydroponics Market Size, Share, and COVID-19 Impact Analysis, By Type (Aggregate Systems, Liquid Systems, and Others), By Input (Nutrients, Grow Media, and Others), By Crop Type (Vegetables, Fruits, Flowers, and Others), By Farming Method (Indoor and Outdoor), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
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The aggregate systems segment is expected to grow at the highest pace in the global hydroponics market during the forecast period.
The global hydroponics market is divided into three categories: aggregate systems, liquid systems, and others. The aggregate systems segment, among these, is expected to grow at the fastest rate in the global hydroponics market during the forecast period. Because of their versatility, ease of use, and ability to support a wide range of crops, aggregate systems have been widely adopted in commercial-scale hydroponics.
The nutrients segment is expected to hold the largest share of the global hydroponics market during the forecast period.
The global hydroponics market is segmented by input into nutrients, grow media, and others. The nutrients segment is projected to account for the majority share of the global hydroponics market during the forecast period. The nutrients that are essential for plant growth and are a fundamental component of hydroponic systems can be attributed to segmental growth.
The indoor segment is expected to hold the largest share of the global hydroponics market during the forecast period.
The global hydroponics market is divided into indoor and outdoor farming methods. The indoor segment is projected to account for the majority share of the global hydroponics market during the forecast period. Factors such as limited arable land availability, urbanization, climate variability, and a desire for local and sustainable food production have fueled demand for indoor hydroponic systems.
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North America is estimated to hold the largest share of the global hydroponics market over the predicted timeframe.
North America is expected to hold the largest share of the global hydroponics market during the forecast period. Because of factors such as limited arable land availability, rising demand for locally grown produce, and a desire for sustainable farming practices, hydroponic systems have seen widespread adoption in the United States and Canada. During the forecast period, Asia Pacific is projected to expand at the fastest rate in the global hydroponics market. Hydroponic systems are becoming more popular in countries such as China, Japan, Australia, and Singapore, owing to factors such as population growth, urbanization, limited arable land, and the need for food security.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Hydroponics Market include Triton Foodworks Pvt. Ltd., Gotham Greens, VitaLink, ScottsMiracle-Gro, Green Sense Farms, Emirates Hydroponic Farm, Hydrodynamics International, American Hydroponics, Advanced Nutrients, Emerald Harvest, Bright Farms, Freight Farms, AeroFarms, Nature’s Miracle, InFarm, and Others.
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Recent Developments
In June 2022, The HS Evolution Pot from Hydroponic Systems International (Spain) would not require any packaging or plastic bags for the substrate. It would aid the company's efforts to broaden its product offerings.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Hydroponics Market based on the below-mentioned segments:
Global Hydroponics Market, By Type
- Aggregate Systems
- Liquid Systems
- Others
Global Hydroponics Market, By Input
- Nutrients
- Grow Media
- Others
Global Hydroponics Market, By Farming Method
- Indoor
- Outdoor
Global Hydroponics Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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