The global hydroponics market size is expected to be worth around US$ 15.7 billion by 2030, according to a new report by Vision Research Reports.
The global hydroponics market size was valued at US$ 3.1 billion in 2020 and is anticipated to grow at a CAGR of 21.7% during forecast period 2021 to 2030.
|Market Size||US$ 15.7 billion by 2030|
|Growth Rate||CAGR of 21.7% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Type, Crops|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||AeroFarms, AmHydro, Argus Control Systems Ltd., Emirates Hydroponics Farms, Freight Farms, Green Sense Farms Holdings, Inc., Heliospectra AB, LumiGrow, Signify Holding, Terra Tech Corp.|
This high growth rate is attributed to the increasing use of hydroponic systems for the indoor farming of vegetables. Also, the adoption of alternative farming methods for cannabis cultivation is rapidly rising, owing to the legalization of marijuana in countries like Canada, the Czech Republic, South Africa, and others. Increasing awareness among consumers regarding the effects of pesticides and artificial ripening agents on their health is expected to drive the demand for hydroponics, as the method eliminates the need for such products, thereby providing nutritionally superior vegetables. Low installation cost and ease of operation of these systems are also expected to boost the adoption in near future
By Crops Analysis
the tomatoes segment dominated the market with a share of more than 40% of the total market share in 2020. Tomatoes are the largest hydroponically cultivated crops across the globe owing to the faster cultivation rate and as it requires very less amount of water compared to regular farmed tomatoes.
Leafy vegetables, such as spinach, arugula, kale, and lettuce are increasingly gaining popularity among hydroponic growers. Among these, green and red leaf lettuce is the largest hydroponically grown vegetable among indoor farmers owing to its raw consumption in relatively large quantities.
By Type Analysis
The aggregate systems held the largest market share of approximately 55% in 2020 owing to its widespread popularity among all the indoor hydroponic farmers owing to its ease of setup and inexpensiveness.
The liquid systems segment is estimated to expand at the fastest CAGR from 2021 to 2028, owing to the increasing popularity of closed system cultivation among growers. Deepwater culture and Nutrient Film Technique (NFT) systems are being increasingly used to cultivate lettuce and other leafy vegetables.
By Regional Analysis
Asia Pacific dominated the hydroponics market with a share of 37% in 2020 owing to the substantial adoption of hydroponics in China, Australia, South Korea, and other such countries. The market in China and India is expected to escalate significantly over the forecast period owing to the emerging urban hydroponic farms.
Europe held the second-largest market share in 2020, owing to the high adoption of hydroponics driven by rapid industrialization and scarcity of land. Europe is home to developed economies, such as France, Germany, Greece, Italy, Spain, and the Netherlands.
Argus Control Systems Ltd.
Emirates Hydroponics Farms
Green Sense Farms Holdings, Inc.
Terra Tech Corp.
Rest of World
The Hydroponics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Hydroponics market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Hydroponics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Hydroponics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Hydroponics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Hydroponics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Hydroponics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Hydroponics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Hydroponics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Hydroponics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Hydroponics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Hydroponics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Hydroponics market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Hydroponics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Hydroponics market. These factors have benefited the growth of the global market for Hydroponics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Hydroponics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Hydroponics are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are: