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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Hydroponics Market Share
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 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.*
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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.
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