Global Hydroponics Market to Grow at a CAGR of 20.1% during 2024-2032, Aided by the Rising Awareness Regarding the Benefits of Hydroponic Farming

The global market for hydroponics is being driven by the rising awareness regarding its benefits and the increasing global demand for food and agricultural produce, as a result of the rising population. In addition, the increased investments in the agricultural sector in order to promote the concept of sustainable cultivation are also expected to bolster the market growth in the coming years. Moreover, the demand for offseason cultivation of fruits and vegetables is also expected to contribute to the market development. The rising demand for high crop yield, coupled with the increasing inclination towards sustainable farming with reduced pollution as well as improved quality produce is expected to positively impact the market growth in the forecast period.

The market players are increasingly investing in the development of quality cultivation mechanism in order to enhance the cultivation of crops. In March 2023, Lettuce Grow launched the Farmstand Nook, a new addition to its flagship hydroponic gardening system. It is designed to grow the produce indoors, in tight spaces and across seasons. It includes a smaller tank and fully integrated grow lights. Further, in February 2023, Rising Farms, a Mexican-based high-tech indoor farming company, revealed its plans to launch a new facility and expand its indoor farming space. Such developments are expected to positively impact the growth of the hydroponics industry in the forecast period.

Market Breakup by Product Type, Equipment, Crop Type, and Region:

• The market is divided based on product type into aggregate hydroponic system and liquid hydroponic system. Among these, aggregate hydroponic systems can be further divided into closed system and open system.

• On the basis of equipment, the market can be distributed into heating, ventilation and air conditioning (HVAC), LED growing lights, irrigation systems, and control systems, among others.

• Based on crop type, the market is segregated into vegetables, fruits, and flowers, among others.

• Region-wise, the global market for hydroponics can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for hydroponics is being driven by the increasing demand for food and agricultural produce.

• In addition, the growing global population has significantly contributed to the market expansion. 

• Increased investments in research and development activities around hydroponics cultivation have been contributing to the market growth. 

• The growing agriculture industry and the increasing focus on sustainable practices are expected to further propel the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for hydroponics for the periods (2018-2023) and (2024-2032). 

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the product types, equipment, crop types, and major regions of hydroponics.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global hydroponics market are Argus Control Systems Limited, Heliospectra AB, Freight Farms, Inc., Lettuce Grow LLC, and RISING FARMS, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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