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Global Hydroponics Market: By Product Type: Aggregate Hydroponic System, Liquid Hydroponic System; By Equipment: Heating, Ventilation, and Air Conditioning (HVAC), Others; By Crop Type; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: Swot Analysis; Competitive Landscape; Industry Events and Developments
Global Hydroponics Market Outlook
The global hydroponics market stood at a value of around USD 10.2 billion in 2020. The market is further expected to grow at a CAGR of 11.30% in the forecast period of 2022-2027 to attain a value of around USD 19.50 billion by 2026.
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Heightened Demand for Aggregate Hydroponic Systems to Propel the Global Hydroponics Industry Growth
Based on product type, the aggregate hydroponic system is predicted to account for a significant market share in the hydroponics industry. This increase can be attributed to the rising popularity of aggregate hydroponic system among indoor farmers due to its easy to set up nature.
The cost effectiveness and easy to use properties associated with these systems are adding to their popularity. Moreover, the increasing use of inert soil media, such as peat, coco coir, and sawdust, among others, to provide the necessary support to plants as they are fairly cost-effective is expected to bolster the market growth in the coming years.
The Asia Pacific to Account for a Substantial Market Share of the Global Hydroponics Industry
The Asia Pacific is estimated to possess a substantial share of the hydroponics industry in the forecast period. This growth can be attributed to the rising population density in the region, which is leading to a heightened demand for food and agricultural produce. In addition, rapid urbanisation and the increased adoption of hydroponic farming by farmers are anticipated to aid the market growth in the region. Moreover, the rising health awareness among consumers pertaining to the nutritional benefits associated with the hydroponically grown produce is anticipated to significantly bolster the market growth in the coming years.
Hydroponics: Market Segmentation
Hydroponics, a scientific method, is the practice of growing plants in a soil-less medium using nutrients and water. Instead of soil, water is responsible for providing nutrients, hydration, and oxygen to the plant. In this process, the nutrients come from sources such as fish excrement and duck manure, among others. This process enables crop cultivation throughout the year and in any part of the world, providing high yields with fewer sources. Some of the hydroponically grown crops include tomatoes, lettuce, strawberries, and cannabis, among others.
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By product type, the market is divided into:
- Aggregate Hydroponic System
- Liquid Hydroponic System
Among these, the aggregate hydroponic system can be further divided into closed system and open system.
On the basis of equipment, the industry can be segmented into:
- Heating, Ventilation and Air Conditioning (HVAC)
- LED Growing Lights
- Irrigation Systems
- Control Systems
- Others
Based on crop type, the market can be categorised into:
- Vegetables
- Fruits
- Flowers
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Global Population to Augment the Growth of the Global Hydroponics Industry
The steadily increasing population is expected to bolster the growth of the hydroponics industry in the coming years. This can be attributed to the increased demand for food and agricultural produce among the rising population. In addition, the growing awareness among consumers regarding the essential benefits of hydroponic farming such as higher growth rate, higher yield, easy pest control, low water consumption, and reduced soil and water pollution, among others is anticipated to bolster the market growth in the forecast period. Moreover, the rising disposable incomes and improved living standards are driving individuals to invest in hydroponic farming and use this method for home food production . Furthermore, increased investments to support the development of the agriculture sector and promote sustainable farming practices are also estimated to aid the industry. These factors are anticipated to contribute to the market growth in the forecast period.
Key Industry Players in the Global Hydroponics Market
The report gives a detailed analysis of the following key players in the global hydroponics market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Argus Control Systems Limited
- AeroFarms, LLC
- Heliospectra AB
- Freight Farms, Inc.
- Triton Foodworks Pvt. Ltd.
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2020 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product Type, Equipment, Crop Type, Region |
| Breakup by Product Type | Aggregate Hydroponic System, Liquid Hydroponic System |
| Breakup by Equipment | Heating, Ventilation, and Air Conditioning (HVAC), LED Growing Lights, Irrigation Systems, Control Systems, Others |
| Breakup by Crop Type | Vegetables, Fruits, Flowers, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Argus Control Systems Limited, AeroFarms, LLC, Heliospectra AB, Freight Farms, Inc., Triton Foodworks Pvt. Ltd., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Hydroponics Market Analysis
8.1 Key Industry Highlights
8.2 Global Hydroponics Historical Market (2017-2021)
8.3 Global Hydroponics Market Forecast (2022-2027)
8.4 Global Hydroponics Market by Product Type
8.4.1 Aggregate Hydroponic System
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.1.3.1 Closed System
8.4.1.3.2 Open System
8.4.2 Liquid Hydroponic System
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.5 Global Hydroponics Market by Equipment
8.5.1 Heating, Ventilation, and Air Conditioning (HVAC)
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 LED Growing Lights
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 Irrigation Systems
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.5.4 Control Systems
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2017-2021)
8.5.4.3 Forecast Trend (2022-2027)
8.5.5 Others
8.6 Global Hydroponics Market by Crop Type
8.6.1 Vegetables
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2017-2021)
8.6.1.3 Forecast Trend (2022-2027)
8.6.2 Fruits
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2021)
8.6.2.3 Forecast Trend (2022-2027)
8.6.3 Flowers
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2017-2021)
8.6.3.3 Forecast Trend (2022-2027)
8.6.4 Others
8.7 Global Hydroponics Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Argus Control Systems Limited
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 AeroFarms, LLC
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Heliospectra AB
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Freight Farms, Inc.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Triton Foodworks Pvt. Ltd.
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Hydroponics Market: Key Industry Highlights, 2016 and 2026
2. Global Hydroponics Historical Market: Breakup by Product Type (USD Billion), 2017-2021
3. Global Hydroponics Market Forecast: Breakup by Product Type (USD Billion), 2022-2027
4. Global Hydroponics Historical Market: Breakup by Equipment (USD Billion), 2017-2021
5. Global Hydroponics Market Forecast: Breakup by Equipment (USD Billion), 2022-2027
6. Global Hydroponics Historical Market: Breakup by Crop Type (USD Billion), 2017-2021
7. Global Hydroponics Market Forecast: Breakup by Crop Type (USD Billion), 2022-2027
8. Global Hydroponics Historical Market: Breakup by Region (USD Billion), 2017-2021
9. Global Hydroponics Market Forecast: Breakup by Region (USD Billion), 2022-2027
10. North America Hydroponics Historical Market: Breakup by Country (USD Billion), 2017-2021
11. North America Hydroponics Market Forecast: Breakup by Country (USD Billion), 2022-2027
12. Europe Hydroponics Historical Market: Breakup by Country (USD Billion), 2017-2021
13. Europe Hydroponics Market Forecast: Breakup by Country (USD Billion), 2022-2027
14. Asia Pacific Hydroponics Historical Market: Breakup by Country (USD Billion), 2017-2021
15. Asia Pacific Hydroponics Market Forecast: Breakup by Country (USD Billion), 2022-2027
16. Latin America Hydroponics Historical Market: Breakup by Country (USD Billion), 2017-2021
17. Latin America Hydroponics Market Forecast: Breakup by Country (USD Billion), 2022-2027
18. Middle East and Africa Hydroponics Historical Market: Breakup by Country (USD Billion), 2017-2021
19. Middle East and Africa Hydroponics Market Forecast: Breakup by Country (USD Billion), 2022-2027
20. Global Hydroponics Market Structure
Key Questions Answered in the Report
In 2020, the global hydroponics market attained a value of nearly USD 10.2 billion.
The market is projected to grow at a CAGR of 11.30% between 2022 and 2027.
The major drivers of the market include the growing awareness among consumers regarding the essential benefits of hydroponic farming, rising disposable incomes, improved living standards, rapid urbanisation, increased government investments to support the development of the agriculture sector and promote sustainable farming practices, and increasing use of inert soil media.
The steadily increasing population and increased demand for food and agricultural produce are the key industry trends propelling the market growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant product types include aggregate hydroponic system and liquid hydroponic system.
The different equipment considered in the market report include heating, ventilation and air conditioning (HVAC), LED growing lights, irrigation systems, and control systems, among others.
The major crop types can be segmented into vegetables, fruits, and flowers, among others.
The major players in the industry are Argus Control Systems Limited, AeroFarms, LLC, Heliospectra AB, Freight Farms, Inc., and Triton Foodworks Pvt. Ltd., among others.
Analyst Review
The global hydroponics market attained a value of nearly USD 10.2 billion in 2020, driven by the increased demand for food and agricultural produce. Aided by the growing awareness among consumers regarding the essential benefits of hydroponic farming and the steadily increasing population, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 11.30%.
EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By product type, the market is divided into aggregate hydroponic system and liquid hydroponic system. On the basis of equipment, the industry can be segmented into heating, ventilation and air conditioning (HVAC), LED growing lights, irrigation systems, and control systems, among others. Based on crop type, the market can be segmented into vegetables, fruits, and flowers, among others. The major regional markets for hydroponics are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The major players in the industry are Argus Control Systems Limited, AeroFarms, LLC, Heliospectra AB, Freight Farms, Inc., and Triton Foodworks Pvt. Ltd., among others.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.
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