Hydroponics Market size was valued at US$ 13.10 Bn. in 2023 and the total revenue is expected to grow at 11.3 % CAGR through 2024 to 2030, reaching nearly US$ 27.71 Bn.
Hydroponics Market Overview:
The Hydroponics market is witnessing robust growth due to the rising demand for sustainable and efficient agricultural practices. Hydroponics, a method of growing plants without soil using nutrient-rich water solutions, offers numerous advantages including faster plant growth, higher yields, and reduced water usage. This market expansion is driven by increasing consumer demand for fresh, locally-grown produce, advancements in hydroponic technology, and the need for resilient food production systems in urban areas. As environmental concerns and the quest for food security intensify, the hydroponics market is poised for significant development and adoption worldwide.
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Scope Table:
Aspect | Details |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Data | 2018-2023 |
Market Size in 2023 | US $ 13.10 Bn. |
CAGR (2024-2030) | 11.3% |
Market Size in 2030 | US $ 27.71 Bn. |
Hydroponics Market Segmentation:
by Type
Aggregate Hydroponic System
Closed Systems
Open Systems
Liquid Hydroponic Systems
Liquid hydroponic systems and aggregate hydroponic systems make up the two segments of the hydroponics market. Because it includes the most widely used hydroponic systems, including the drip system, wick system, ebb and flow system, and water culture system, aggregate hydroponic systems is anticipated to hold the greatest share in the global hydroponics market over the projection period. In the near future, the global hydroponics market is anticipated to be driven by the liquid hydroponic systems sector. Because it has components that are advantageous for the control environment for hydroponic cultivation, HVAC is predicted to hold the highest share in the global hydroponics market on the basis of equipment over the projection period.
by Crop Type
Tomato
Lettuce & Leafy Vegetables
Pepper
Cucumber
Others
by Equipment
HVAC
LED Grow Light
Irrigation Systems
Material Handling
Control Systems
Others
The hydroponics market is divided into categories such as HVAC, LED grow lights, irrigation systems, material handling, control systems, and others based on the raw materials used. The HVAC system holds the largest market share during the predicted period. Since HVAC, or heating, ventilation, and air conditioning, is in charge of cooling, dehumidifying, and preserving the proper temperature inside the facility, it plays a significant role in the development of indoor growers. Aerologic and hydroponic farms need HVAC systems that are dependable and precisely managed.
by Input Type
Nutrients
Growth Medium
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Hydroponics Market Key Players:
1. Hydrofarm Inc
2. Lumigrow Inc.
3.Village farms
4. Argus Control Systems Ltd.
5. General Hydroponics Inc.
6. Hydrodynamics International Inc
7. Greentech Agro Inc.
8. Heliospectra AB
9. Logiqs B.V
10.Koninklijke Philips NV.
11.Thanet Earth
12.Pegasus Agritech
13.Growlife
14.Circle Fresh Farms
15.KUBO Greenhouse Projects
16.HortiMaX
17.Terra Tech
18.Signify Holdings
19.Scotts Miracle Gro
20.American Hydroponics
21.Emerald Harvest
22.Advanced Nutrients
23.Grobo
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Regional Insights:
The Regional Analysis section displays the present state of the Hydroponics market in each of the study's participating nations. Due to the complexity of the Hydroponics business, local perspectives must be considered. North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa are the regions that comprise the Hydroponics market. We extensively examine each research region's market size, growth rate, imports and exports, as well as other particular characteristics.
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Key questions answered in the Hydroponics Market are:
- What growth strategies are the players considering to increase their presence in Hydroponics?
- What are the upcoming industry applications and trends for the Hydroponics Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Hydroponics Market?
- Who are the leading companies and what are their portfolios in Hydroponics Market?
- What segments are covered in the Hydroponics Market?
- Who are the key players in the Hydroponics market?
- Which application holds the highest potential in the Hydroponics market?
- What are the key challenges and opportunities in the Hydroponics market?
- What is Hydroponics?
- What was the Hydroponics market size in 2023?
- What will be the CAGR at which the Hydroponics market will grow?
- What is the growth rate of the Hydroponics Market?
- Which are the factors expected to drive the Hydroponics market growth?
- What are the different segments of the Hydroponics Market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by different segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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