Hydroponics Market Expected to Grow at 11.3% CAGR, Led by Europe | Maximize Market Research

Trends and Growth Projection for Hydroponics Market

The Hydroponics Market Size is expected to witness a tremendous growth, growing from USD 14.57 billion in 2024 to USD 34.32 billion by 2032, and exhibiting a CAGR of 11.3% during the forecast period. Hydroponics, the method of growing plants without soil by using mineral nutrient solutions in a water solvent, is becoming popular around the world as it increases crop yield, but uses less water and requires less land. Indeed, hydroponics is one of the innovative solutions to food production, providing four harvests a year independent of weather conditions despite climate change that is increasingly challenging the traditional form of agriculture.

Market Overview and Growth Factor

There are few elements that are pushing the hydroponics market to grow rapidly. Depending on the growth of global demand for fresh produce, locally-grown and farmed produce such as leafy greens and herbs are experiencing the expansion of the hydroponic business. With ever-increasing urbanization, cities across the globe are converting their empty buildings and rooftops into vertical or rooftop farms to satisfy their food requirements. Hydroponics allows for a sustainable alternative to traditional farming methods through water conservation, less reliance on pesticides, and smaller acreage for farming in general.

The market is also driven by the fact that hydroponic systems are more efficient, giving 20-25% higher crops as compared to conventional farming [3]. Hydroponics is gaining traction in areas with an increasing emphasis on food security, especially where the availability of arable land is limited or losses from traditional methods become large compared to gains from additional farmland due to environmental conditions.

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Opportunities and Advancements in Tech

There are technological advancements happening and these will develop better hydroponics systems. Using LED grow light, HVAC, and a sensor-based IoT device for plants has made hydroponic growing highly efficient and easier to scale up. For example, LED grow lights enable crops to grow more rapidly due to the presence of light required for photosynthesis. This is especially important for controlled environments for indoor farming that do not have adequate access to natural sunlight, as you can farm anywhere with these systems.

Moreover, with the development of automation for irrigation, nutrients and crop monitoring systems, hydroponic farms are reducing labor needs, which is making the technology cheaper and more accessible. And, with the aid of artificial intelligence and machine learning, real-time data-based monitoring and analytics can make it easier to help decision-making, which further streamlines hydroponic operations for improved efficiency and profit.

Segmentation Analysis

The hydroponics market is classified into system type, equipment, raw material and region.

Based on System Type: Hydroponics systems are broadly classified into aggregate and liquid systems. They include all techniques like the ebb and flow system, drip systems, and the wick system which highlight their dominant position in term of versatility and efficiency in managing plant nutrients and water and are expected to held largest market revenue share value. Liquid systems like the deep water culture system is also becoming popular because they allow for the possibility of growing larger crops in less space.

By Equipment: HVAC systems, LED grow Lights, irrigation systems, and Control systems. There is HVAC, which is a component responsible for maintaining the right environmental condition of an indoor farm, but also controlling parameters such as humidity and air circulation. Led grow lights are a requirement of indoor farming, and they guarantee that plants receive the right spectrums of light needed to grow. For example, the demand for indoor farming keeps growing, which means the development of advanced systems and HVAC and lighting for them.

Nutrients are the most important input in Hydroponics as they are the primary source of minerals needed by the plants that they would normally absorb through soil. Increasing accessibility and consumption of proprietary hydroponic nutrient solutions are predicted to drive the market demand. Besides, the demand for organic and eco-friendly nutrients is rising, as the need for sustainability in food production becomes a prominent consideration for consumers and producers.

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Regional Insights

USA: The USA being significant hydroponics market coming from high demand for fresh vegetables and herbs. Hustle of growing up in cities such as NY and LA with both rooftop & vertical hydroponic farms now becoming popular for their commercial. With increasing consumer interest towards sustainable and locally sourced produce the hydroponics market in the U.S. continues to grow. AeroFarms, among many other industries are paving the path for compost-scaled hydroponic farming sources that can range thousands of square feet in area to supply massive amounts of leafy greens.

Netherlands: With a reputation as the world's agricultural innovation leader, the Netherlands is the European leader in hydroponic farming. There are some commercial hydroponics farms around the country, primarily greenhouse farms — The Netherlands is certainly a model for the future of agriculture, with its sophisticated horticulture technology and productivity in controlled environments.

China: China is heavily investing in hydroponics due to its large urban population and growing need for food security. It hopes, however, to utilize vertical farming; and with the burgeoning mega cities, the government has recognised this need, and the need for hydroponics. The market is slated to grow on account of China adopting hydroponics for commercial as well as residential purposes on a large scale.

India: India's hydroponic farming industry is experiencing rapid expansion, largely fueled by urbanization, the scarcity of water, and the call for sustainable farming. There are government efforts to promote modernisation of farming methods such as hydroponics and benefits in the long run; it will lead to improved sustainability of agricultural base. With food security remaining a hot topic, India is becoming dependent on hydroponics.

Japan: Japan has a strong technological innovation capacity in general and is increasingly adopting hydroponic farming due to its small farmland areas and disappearing farmers population. Hydroponics in cities, coupled with automation and AI, is paving the way toward the next level of the industry in the country.

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Competitor Analysis

There are several key players, driving technological advancement and market growth in the hydroponics market worldwide, and presenting tough competition. Notable companies include:

AeroFarms– One of the world leaders offers a vertical farming solution. It employs aeroponics (a subcategory of hydroponics) to cultivate crops in urban settings, and is also dedicating research into sustainable agriculture methods.

Hydroponic Research Systems, Inc.: Supplies Hydroponic equipment and systems for home growers and commercial farms. They're a dominant manufacturer of systems designed to grow plants without soil in liquid medium.

Green Spirit Farms: Specializing in large scale urban vertical farming, Green Spirit Farms is innovatively utilizing hydroponic technology as well as aquaponic systems to grow food sustainably within urban communities.

Vertical Harvest: By integrating hydroponics and vertical farming, Vertical Harvest builds ultra-productive and resource-efficient urban farms. Their model centers around the efficient production of fresh, local produce to urban centers.

Logiqs B.V. — Develops automation and hydroponic solutions, with vertical farming systems and hydroponic greenhouse systems based on turn-key solutions for growers worldwide

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