Global Hydroponics Market Size, Trends, and Growth Opportunity, By Type (Aggregate and Liquid), Input (Nutrients and Grow Media), Crop Type (Vegetables, Fruits, Flowers, Cannabis, Fodder Crops, and Herbs), Equipment (Heating, Ventilation, and Air Conditioning (HVAC), Led Grow Light, Control System, Irrigation System, Material Handling, Potential of Hydrogen (P.H.) and Carbon Dioxide (CO2) Sensors) By Region and forecast till 2030.
Report ID : IR1002316 | Industries : Chemicals & Materials | Published On :July 2024 | Page Count : 243
Global Hydroponics Market Size, Trends, and Growth Opportunity, By Type (Aggregate and Liquid), Input (Nutrients and Grow Media), Crop Type (Vegetables, Fruits, Flowers, Cannabis, Fodder Crops, and Herbs), Equipment (Heating, Ventilation, and Air Conditioning (HVAC), Led Grow Light, Control System, Irrigation System, Material Handling, Potential of Hydrogen (P.H.) and Carbon Dioxide (CO2) Sensors) By Region and forecast till 2030.
Global Hydroponics Market
Global Hydroponics Market was valued at USD 7.46 Billion in 2022 and is slated to reach USD 20.12 Billion by 2030 at a CAGR of 13.20% from 2023-2030.
Plants are grown hydroponically, which means without soil. Herbs, flowers, and vegetables grown hydroponically are planted in inert material and given access to nutrient-rich solutions, water, and oxygen. By enabling control over environmental factors including pH balance, and temperature, and maximizing exposure to water and nutrients, hydroponic systems function. Stronger yields, quick growth, and greater quality are encouraged by this approach.
Market Drivers
The rising popularity of salads and unusual vegetables will probably fuel market expansion throughout the forecast period. Due to rising consumer spending power, there has been an ongoing increase in demand for salads and exotic vegetables. Because commercial farmers are investing more in cutting-edge plantation equipment like hydroponic systems to lower operating costs and boost profits, the growing demand for salads and exotic vegetables is likely to drive up prices for the hydroponic system. Throughout the forecast period, increasing demand for aggregate hydroponics systems is anticipated to drive market expansion. Drip, wick, EBB, and flow systems are a few of the common hydroponic farming techniques. The crop is produced using these technologies on a large scale. As a result, the aggregate hydroponics system is more in demand, which finally accelerates market expansion.
Market Restraints
The hydroponics system market is expected to have slow growth from 2023 to 2030 due to farmers' lack of awareness of the benefits of these systems, which include controlled nutrition levels, higher yields, up to 90% more efficient water use, and many more. Because hydroponically grown vegetables develop more quickly than those grown in soil, the high cost of hydroponic systems is another important consideration that will restrain market expansion. In addition, the cost to set up a hydroponics system once is between Rs. 18 87,200 and Rs. 20, 00,000, which would restrain market expansion throughout the forecast period.
Recent Developments
The WiZ Wi-Fi-based connected lighting ecosystem's creators, WiZ Connected, were acquired by Signify Holdings in April 2019, according to a statement. Signify hopes to solidify its market dominance in Wi-Fi-based smart lighting with the acquisition of WiZ.
Market Segmentation
Global Hydroponics Market is segmented By Type, Input, Crop Type, and Equipment. By Types such as Aggregate and Liquid. By Input such as Nutrients and Grow Media. By Crop Types such as Vegetables, Fruits, Flowers, Cannabis, Fodder Crops, and Herbs. By Equipment such as Heating, Ventilation, and Air Conditioning (HVAC), Led Grow Light, Control System, Irrigation System, Material Handling, Potential of Hydrogen (P.H.), and Carbon Dioxide (CO2) Sensors.
Regional Analysis
Global Hydroponics Market is segmented into five regions Americas, Europe, Asia-Pacific, and the Middle East & Africa. In terms of revenue and market share, Europe dominates the hydroponics system market due to the region's robust government initiatives and growing greenhouse farming technology. Furthermore, the use of highly advanced methods in Europe will accelerate market expansion. Over the forecast period of 2023–2030, the hydroponics system market is expected to develop at the quickest rate in the Asia–Pacific due to the region's expanding demand for fresh food. Also, increased government funding for the construction of hydroponic farms will accelerate market expansion.
Key Players
This report includes a list of numerous Key Players, namely Thanet Earth Limited (U.K.), Pegasus Agritech (India), Hydroponic Systems International (Spain), Freight Farms, Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), General Hydroponics (U.S.), Village Farms International Inc. (Canada), ROCKWOOL A/S (Denmark), Heliospectra AB (Sweden), Triton Foodworks (India).
Market Taxonomy
By Type
• Aggregate
• EBB and Flow System
• Drip System and Wick System
• Liquid Deep
• Water Culture Systems
• Nutrient Film Techniques (NFT)
• Aeroponics.
By Equipment
• Heating, Ventilation, and Air Conditioning (HVAC)
• Led Grow Light
• Control System
• Irrigation System
• Material Handling
• Potential of Hydrogen (P.H.)
• Carbon Dioxide (CO2) Sensors
By Input
• Nutrients
• NPK (Nitrogen (N), Phosphorus (P) and Potassium (K))
• Trace Mineral
• Other Nutrients
• Grow Media
• Clay
• Rockwool
• Coco Coir
• Perlite and Vermiculite
• Others.
• Others
By Crop Type
• Vegetables
• Leafy Greens
• Peppers
• Cucumber
• Tomato
• Others
• Fruits
• Flowers
• Others
By Region
• North America Latin America
• Europe
• Asia Pacific
• Middle East & Africa.
Global Hydroponics Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Hydroponics Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing Economic Downturn
4.2.6 Post Covid-19 World Supply and Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Hydroponics Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Hydroponics Market Share Analysis, By Type
5.3 Global Hydroponics Market Size and Forecast, By Type
5.3.1 Aggregate
5.3.2 EBB and Flow System
5.3.3 Drip System and Wick System
5.3.4 Liquid Deep
5.3.5 Water Culture Systems
5.3.6 Nutrient Film Techniques (NFT)
5.3.7 Aeroponics.
6 Global Hydroponics Market, By Equipment
6.1 Y-o-Y Growth Comparison, By Equipment
6.2 Global Hydroponics Market Share Analysis, By Equipment
6.3 Global Hydroponics Market Size and Forecast, By Equipment
6.3.1 Heating, Ventilation, and Air Conditioning (HVAC)
6.3.2 Led Grow Light
6.3.3 Control System
6.3.4 Irrigation System
6.3.5 Material Handling
6.3.6 Potential of Hydrogen (P.H.)
6.3.7 Carbon Dioxide (CO2) Sensors
7 Global Hydroponics Market, By Input
7.1 Y-o-Y Growth Comparison, By Input
7.2 Global Hydroponics Market Share Analysis, By Input
7.3 Global Hydroponics Market Size and Forecast, By Input
7.3.1 Nutrients
7.3.2 NPK (Nitrogen (N), Phosphorus (P) and Potassium (K))
7.3.3 Trace Mineral
7.3.4 Other Nutrients
7.3.5 Grow Media
7.3.6 Clay
7.3.7 Rockwool
7.3.8 Coco Coir
7.3.9 Perlite and Vermiculite
7.3.10 Others.
8 Global Hydroponics Market, By Crop Type
8.1 Y-O-Y Growth Comparison, By Crop Type
8.2 Global Hydroponics Market Share Analysis, By Crop Type
8.3 Global Hydroponics Market Size and Forecast, By Crop Type
8.3.1 Vegetables
8.3.2 Leafy Greens
8.3.3 Peppers
8.3.4 Cucumber
8.3.5 Tomato
8.3.6 Others
8.3.7 Fruits
8.3.8 Flowers
8.3.9 Others
9 Global Hydroponics Market, By Region
9.1 Global Hydroponics Market Share Analysis, By Region
9.2 Global Hydroponics Market Share Analysis, By Region
9.3 Global Hydroponics Market Size and Forecast, By Region
10 North America Hydroponics Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 North America Hydroponics Market Share Analysis, By Type
10.3 North America Hydroponics Market Size and Forecast, By Equipment
10.4 North America Hydroponics Market Size and Forecast, By Input
10.5 North America Hydroponics Market Size and Forecast, By Crop Type
10.6 North America Hydroponics Market Size and Forecast, By Country
10.6.1 U.S.
10.6.2 Canada
10.6.3 Mexico
11 Europe Hydroponics Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Europe Hydroponics Market Share Analysis, By Type
11.3 Europe Hydroponics Market Size and Forecast, By Equipment
11.4 Europe Hydroponics Market Size and Forecast, By Input
11.5 Europe Hydroponics Market Size and Forecast, By Crop Type
11.6 Europe Hydroponics Market Size and Forecast, By Country
11.6.1 Germany
11.6.2 France
11.6.3 UK
11.6.4. Rest of Europe
12Asia Pacific Hydroponics Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Asia Pacific Hydroponics Market Share Analysis, By Type
12.3 Asia Pacific Hydroponics Market Size and Forecast, By Equipment
12.4 Asia Pacific Hydroponics Market Size and Forecast, By Input
12.5 Asia Pacific Hydroponics Market Size and Forecast, By Crop Type
12.6 Asia Pacific Hydroponics Market Size and Forecast, By Country
12.6.1 China
12.6.2 Japan
12.6.3 India
12.6.4. Rest of Asia Pacific
13Latin America Hydroponics Market Analysis and Forecast (2023-2030)
13.1 Introduction
13.2 Latin America Hydroponics Market Share Analysis, By Type
13.3 Latin America Hydroponics Market Size and Forecast, By Equipment
13.4 Latin America Hydroponics Market Size and Forecast, By Input
13.5 Latin America Hydroponics Market Size and Forecast, By Crop Type
13.6 Latin America Hydroponics Market Size and Forecast, By Country
13.6.1. Brazil
13.6.2.Rest of Latin America
15Middle East Hydroponics Market Analysis and Forecast (2023-2030)
15.1 Introduction
15.2 Middle East Hydroponics Market Share Analysis, By Type
15.3 Middle East Hydroponics Market Size and Forecast, By Equipment
15.4 Middle East Hydroponics Market Size and Forecast, By Input
15.5 Middle East Hydroponics Market Size and Forecast, By Crop Type
15.6 Middle East Hydroponics Market Size and Forecast, By Country
15.6.1. Saudi Arabia
15.6.2. UAE
15.6.3. Egypt
15.6.4. Kuwait
15.6.5. South Africa
16Competitive Analysis
16.1 Competition Dashboard
16.2 Market share Analysis of Top Vendors
16.3 Key Development Strategies
17Company Profiles
17.1 Thanet Earth Limited (U.K.)
17.1.1 Overview
17.1.2 Offerings
17.1.3 Key Financials
17.1.4 Business Segment & Geographic Overview
17.1.5 Key Market Developments
17.1.6 Key Strategies
17.2 Pegasus Agritech (India)
17.2.1 Overview
17.2.2 Offerings
17.2.3 Key Financials
17.2.4 Business Segment & Geographic Overview
17.2.5 Key Market Developments
17.2.6 Key Strategies
17.3 Hydroponic Systems International (Spain)
17.3.1 Overview
17.3.2 Offerings
17.3.3 Key Financials
17.3.4 Business Segment & Geographic Overview
17.3.5 Key Market Developments
17.3.6 Key Strategies
17.4 Freight Farms, Inc. (U.S.)
17.4.1 Overview
17.4.2 Offerings
17.4.3 Key Financials
17.4.4 Business Segment & Geographic Overview
17.5 Key Market Developments
17.4.6 Key Strategies
17.5 Koninklijke Philips N.V. (Netherlands)
17.5.1 Overview
17.5.2 Offerings
17.5.3 Key Financials
17.5.4 Business Segment & Geographic Overview
17.5.5 Key Market Developments
17.5.6 Key Strategies
17.6 General Hydroponics (U.S.)
17.6.1 Overview
17.6.2 Offerings
17.6.3 Key Financials
17.6.4 Business Segment & Geographic Overview
17.6.5 Key Market Developments
17.6.6 Key Strategies
17.7 Village Farms International Inc. (Canada)
17.7.1 Overview
17.7.2 Offerings
17.7.3 Key Financials
17.7.4 Business Segment & Geographic Overview
17.7.5 Key Market Developments
17.7.6 Key Strategies
17.8 ROCKWOOL A/S (Denmark)
17.8.1 Overview
17.8.2 Offerings
17.8.3 Key Financials
17.8.4 Business Segment & Geographic Overview
17.8.5 Key Market Developments
17.8.6 Key Strategies
17.9 Heliospectra AB (Sweden)
17.9.1 Overview
17.9.2 Offerings
17.9.3 Key Financials
17.9.4 Business Segment & Geographic Overview
17.9.5 Key Market Developments
17.9.6 Key Strategies
17.10 Triton Foodworks (India)
17.10.1 Overview
17.10.2 Offerings
17.10.3 Key Financials
17.10.4 Business Segment & Geographic Overview
17.10.5 Key Market Developments
17.10.6 Key Strategies