Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Hydroponics Market Outlook
The global hydroponics market reached a value of USD 7,068.4 million in 2023. The market is further assessed to grow at a CAGR of 20.1% during 2024-2032 to reach a value of USD 20,751.6 million by 2032.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
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.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
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.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
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
- Heliospectra AB
- RISING FARMS
- Freight Farms, Inc.
- Lettuce Grow LLC
- Triton Foodworks Pvt. Ltd.
- AeroFarms, LLC
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by Equipment |
|
| Breakup by Crop Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| 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. |
Our Best Selling Reports
United States Fire Sprinklers Market
Tribulus Terrestris Extract Market
Saudi Arabia Structural Steel Market
Europe Freeze-Dried Fruit Products Market
Hydroponics Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Looking for specific insights?
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
Key Questions Answered in the Report
In 2023, the global hydroponics market attained a value of nearly USD 7,068.4 million.
The market is projected to grow at a CAGR of 20.1% between 2024 and 2032.
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 market are Argus Control Systems Limited, Heliospectra AB, RISING FARMS, Freight Farms, Inc., Lettuce Grow LLC, Triton Foodworks Pvt. Ltd., AeroFarms, LLC, among others.
Purchase Full Report
Datasheet
- Selected Sections, One User
- Printing Not Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Single User License
One User
- All Sections, One User
- One Print Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Five User License
Five Users
- All Sections, Five Users
- Five Prints Allowed
- Email Delivery in PDF
- Free Limited Customisation
- Post Sales Analyst Support
50% Discount on Next Update
Corporate License
Unlimited Users
- All Sections, Unlimited Users
- Unlimited Prints Allowed
- Email Delivery in PDF + Excel
- Free Limited Customisation
- Post Sales Analyst Support
- 50% Discount on Next Update
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
Subscribe to our Newsletter
By subscribing you agree to with our privacy policy and provide
consent to
receive
updates
from our company.
Locations
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124