Hydroponics Market Size Worth $35.4 Billion By 2030; CAGR of 15.6%

According to this latest publication from Meticulous Research®, the Hydroponics Market is expected to reach $35.4 billion by 2030, at a CAGR of 15.6% during the forecast period 2023–2030. The growth of this market is mainly driven by the growing population and reduction in arable land, changing climatic conditions and erratic weather patterns, rising need to increase agricultural productivity, increase in demand for fresh food products among the urban population, and growing demand for chemical-free fruits and vegetables. In addition, the rising adoption of hydroponics farming for cannabis cultivation further supports the growth of this market.

Moreover, technological advancement in the hydroponics sector and the increasing adoption of urban farming using vertical hydroponics systems are expected to provide significant growth opportunities to the stakeholders operating in this market. However, the critical management requirement, lack of knowledge and expertise in developing countries, and high capital investment for large-scale farms are some of the factors that hinder the growth of the hydroponics market to some extent.

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Geographic Review:

This research report also analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, Netherlands, Spain, France, U.K., Greece and RoE), Asia-Pacific (China, Japan, India, Australia, South Korea, and RoAPAC), Latin America (Brazil, Argentina, Mexico, and RoLATAM), and the Middle East & Africa. Europe is expected to account for the dominant position in the global hydroponics market.

The dominant position of this region is primarily attributed to the presence of key players, technological advancements, high adoption of hydroponics driven by rapid industrialization and scarcity of land, availability of required infrastructure to run hydroponics farms, and rising demand for fresh and chemical-free food. Moreover, the rising government support for hydroponics farming further drives this market's growth.

Scope of the report:

Hydroponics Market, by Type

• Non-aggregate System (Liquid System)
  • Deep Water Culture
  • Nutrient Film Technique (NFT)
  • Aeroponics System
  • Other Non-aggregate System
• Aggregate System
  • Ebb and Flow System
  • Drip System
  • Wick System
  • Other Aggregate System

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Hydroponics Equipment Market, by Type

• HVAC System
• LED Grow Lights
• Irrigation System
• Control System
• Other Equipment

Key Players

The key players operating in the hydroponics market are Argus Control Systems Ltd. (Canada), Signify Holding B.V. (Netherlands), The Scotts Miracle-Gro Company (U.S.), Hydroponic Systems International (Spain), Hydrodynamics International Inc (U.S.), AmHydro (U.S.), Emerald Harvest (U.S.), Heliospectra AB (Sweden), Freight Farms, Inc. (U.S.), Logiqs BV (Netherlands), AirLogix (U.S.), and Nutriculture Grow Systems (U.K), among others.

Changing Climatic Conditions Fuel the Growth of the Global Hydroponics Market

Day-by-day changing earth’s energy balance leads to changes in the global climatic conditions. The current climate conditions bring new stresses to agricultural production and prevent sustainable vegetation production in many areas. As a result, demand for alternative agricultural practices that will be sustainable in the long term, such as hydroponics farming, is increasing throughout the globe. Moreover, strains on the environment from food production have caused declines in biodiversity, soil carbon, and air quality. Issues such as soil erosion, high groundwater salinization from fertilizer/pesticides, and decreased water availability further increase global demand for sustainable agricultural production practices.

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Key questions answered in the report:

• Which are the high-growth market segments in terms of type, equipment, input, crop type, and country/region?
• What is the historical market size for hydroponics across the globe?
• What are the market forecasts and estimates for 2023–2030?
• What are the major drivers, restraints, opportunities, challenges, and trends in the global hydroponics market?

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