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Global Hydroponics Market to Grow at a CAGR of 20.1% during 2023-2028, Aided by the Rising Awareness Regarding the Benefits of Hydroponic Farming

Hydroponics Market

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 (2018-2028); Market Dynamics: Swot Analysis; Competitive Landscape; Industry Events and Developments

Global Hydroponics Market Outlook

The global hydroponics market reached a value of USD 7,068.4 million in 2022. The market is further assessed to grow at a CAGR of 20.1% during 2023-2028 to reach a value of USD 20,751.6 million by 2028.

 

Hydroponics Market

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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.

 

Hydroponics Market by Segments

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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.

 

Hydroponics Market by Region

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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 2022
Historical Period 2018-2022
Forecast Period 2023-2028
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    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Hydroponics Market Analysis
    8.1    Global Hydroponics Market Drivers
    8.2    Global Hydroponics Historical Market (2018-2022) 
    8.3    Global Hydroponics Market Forecast (2023-2028)
    8.4    Global Hydroponics Market by Product Type
        8.4.1    Aggregate Hydroponic System
            8.4.1.1    Historical Trend (2018-2022)
            8.4.1.2    Forecast Trend (2023-2028)
            8.4.1.3    Breakup by System
                8.4.1.3.1    Closed System
                8.4.1.3.2    Open System
        8.4.2    Liquid Hydroponic System
            8.4.2.1    Historical Trend (2018-2022)
            8.4.2.2    Forecast Trend (2023-2028)
    8.5    Global Hydroponics Market by Equipment
        8.5.1    Heating, Ventilation, and Air Conditioning (HVAC)
            8.5.1.1    Historical Trend (2018-2022)
            8.5.1.2    Forecast Trend (2023-2028)
        8.5.2    LED Growing Lights
            8.5.2.1    Historical Trend (2018-2022)
            8.5.2.2    Forecast Trend (2023-2028)
        8.5.3    Irrigation Systems
            8.5.3.1    Historical Trend (2018-2022)
            8.5.3.2    Forecast Trend (2023-2028)
        8.5.4    Control Systems
            8.5.4.1    Historical Trend (2018-2022)
            8.5.4.2    Forecast Trend (2023-2028)
        8.5.5    Others
    8.6    Global Hydroponics Market by Crop Type
        8.6.1    Vegetables
            8.6.1.1    Historical Trend (2018-2022)
            8.6.1.2    Forecast Trend (2023-2028)
        8.6.2    Fruits
            8.6.2.1    Historical Trend (2018-2022)
            8.6.2.2    Forecast Trend (2023-2028)
        8.6.3    Flowers
            8.6.3.1    Historical Trend (2018-2022)
            8.6.3.2    Forecast Trend (2023-2028)
        8.6.4    Others    
    8.7    Global Hydroponics Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2022) 
            8.7.1.2    Forecast Trend (2023-2028)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2022) 
            8.7.2.2    Forecast Trend (2023-2028)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2022) 
            8.7.3.2    Forecast Trend (2023-2028)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2022) 
            8.7.4.2    Forecast Trend (2023-2028)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2022) 
            8.7.5.2    Forecast Trend (2023-2028)
9    North America Hydroponics Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2022) 
        9.1.2    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Historical Trend (2018-2022) 
        9.2.2    Forecast Trend (2023-2028)
10    Europe Hydroponics Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2022) 
        10.1.2    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Historical Trend (2018-2022) 
        10.2.2    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Historical Trend (2018-2022) 
        10.3.2    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Historical Trend (2018-2022) 
        10.4.2    Forecast Trend (2023-2028)
    10.5    Netherlands
        10.5.1    Historical Trend (2018-2022) 
        10.5.2    Forecast Trend (2023-2028)
    10.6    Others
11    Asia Pacific Hydroponics Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2022) 
        11.1.2    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Historical Trend (2018-2022) 
        11.2.2    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Historical Trend (2018-2022) 
        11.3.2    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2022) 
        11.4.2    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Historical Trend (2018-2022) 
        11.5.2    Forecast Trend (2023-2028)
    11.5    South Korea
        11.5.1    Historical Trend (2018-2022) 
        11.5.2    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Hydroponics Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2022) 
        12.1.2    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2022) 
        12.2.2    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2022) 
        12.3.2    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Hydroponics Market Analysis
    13.1    United Arab Emirates
        13.1.1    Historical Trend (2018-2022) 
        13.1.2    Forecast Trend (2023-2028)
    13.2    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Cost Analysis
    16.1    Overview
    16.2    Site Development
    16.3    Equipment
    16.4    Production Supplies
    16.5    Utilities and Packaging
17    Competitive Landscape
    17.1    Market Structure
    17.2    Company Profiles
        17.2.1     Argus Control Systems Limited
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    Heliospectra AB
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    RISING FARMS
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    Freight Farms, Inc.
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5     Lettuce Grow LLC
            17.2.5.1    Company Overview
            17.2.5.2    Product Portfolio
            17.2.5.3    Demographic Reach and Achievements
            17.2.5.4    Certifications
        17.2.6    Others
18    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Hydroponics Market: Key Industry Highlights, 2018 and 2028
2.    Global Hydroponics Historical Market: Breakup by Product Type (USD Billion), 2018-2022
3.    Global Hydroponics Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
4.    Global Hydroponics Historical Market: Breakup by Equipment (USD Billion), 2018-2022
5.    Global Hydroponics Market Forecast: Breakup by Equipment (USD Billion), 2023-2028
6.    Global Hydroponics Historical Market: Breakup by Crop Type (USD Billion), 2018-2022
7.    Global Hydroponics Market Forecast: Breakup by Crop Type (USD Billion), 2023-2028
8.    Global Hydroponics Historical Market: Breakup by Region (USD Billion), 2018-2022
9.    Global Hydroponics Market Forecast: Breakup by Region (USD Billion), 2023-2028
10.    North America Hydroponics Historical Market: Breakup by Country (USD Billion), 2018-2022
11.    North America Hydroponics Market Forecast: Breakup by Country (USD Billion), 2023-2028
12.    Europe Hydroponics Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    Europe Hydroponics Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Asia Pacific Hydroponics Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Asia Pacific Hydroponics Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Latin America Hydroponics Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Latin America Hydroponics Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Middle East and Africa Hydroponics Historical Market: Breakup by Country (USD Billion), 2018-2022
19.    Middle East and Africa Hydroponics Market Forecast: Breakup by Country (USD Billion), 2023-2028
20.    Global Hydroponics Market Structure

Key Questions Answered in the Report

What was the global hydroponics market size in 2022?

In 2022, the global hydroponics market attained a value of nearly USD 7,068.4 million.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 20.1% between 2023 and 2028.

What are the major mrket drivers?

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.

What are the key market trends of the global hydroponics market?

The steadily increasing population and increased demand for food and agricultural produce are the key industry trends propelling the market growth.

What are the major regional markets of hydroponics, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the significant product types considered in the market report?

The significant product types include aggregate hydroponic system and liquid hydroponic system.

What are the different types of equipment considered in the market report?

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.

What are the major crop types considered in the market report?

The major crop types can be segmented into vegetables, fruits, and flowers, among others.

Who are the key market players, according to the report?

The major players in the market are Argus Control Systems Limited, Heliospectra AB, Freight Farms, Inc., Lettuce Grow LLC, and RISING FARMS, among others.

Analyst Review

The global hydroponics market reached a value of USD 7,068.4 million in 2022, 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 further assessed to grow at a CAGR of 20.1% during 2023-2028 to reach a value of USD 20,751.6 million by 2028. 

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, Heliospectra AB, Freight Farms, Inc., Lettuce Grow LLC, and RISING FARMS, 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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