Global Hydroponics Market Report 2023-2028: The Future of Farming - Redefining Crop Cultivation Worldwide

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Jan 19, 2024, 20:30 ET

DUBLIN, Jan. 19, 2024 /PRNewswire/ -- The "Global Hydroponics Market Report by Type, Crop Type, Equipment, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global hydroponics market size reached US$ 12.0 Billion in 2022. Looking forward, the market is expected to reach US$ 23.1 Billion by 2028, exhibiting a growth rate (CAGR) of 11.53% during 2022-2028

The increasing water scarcity concerns, the rising trend toward urban living, the growing concerns about the environmental impact of traditional agriculture, and the supportive government policies are some of the factors propelling the market.

Hydroponics is a cutting-edge agricultural method revolutionizing the way we grow plants. It involves cultivating crops without soil, instead using a nutrient-rich water solution to deliver essential minerals directly to plant roots. This innovative approach offers numerous advantages. It maximizes resource efficiency by drastically reducing water consumption compared to traditional soil-based farming.

Additionally, hydroponics allows for precise control over environmental factors like temperature, humidity, and light, optimizing plant growth and minimizing the need for pesticides or herbicides. This method's versatility enables cultivation in various settings, from urban rooftops to arid deserts, and it permits year-round production, eliminating the constraints of seasonal farming.

It also minimizes soil-borne diseases and enhances crop yields, posing a potential solution to global food security challenges. As our world faces increasing population pressures and environmental concerns, hydroponics stands at the forefront of sustainable agriculture, offering a promising path toward more efficient, resilient, and environmentally friendly food production systems.

The global market is majorly driven by the increasing food demand. Hydroponics, with its ability to produce crops year-round in controlled environments, offers a solution to this challenge by significantly increasing crop yields. Furthermore, the rising awareness of food safety and the demand for pesticide-free, organic produce are propelling the adoption of hydroponic systems, which inherently minimize the need for chemical inputs.

Moreover, climate change and diminishing arable land also play pivotal roles in market expansion. Hydroponics' ability to mitigate the impact of adverse weather conditions, reduce water usage, and enable cultivation in non-arable regions positions it as a resilient alternative to traditional farming methods. Besides, urbanization trends are driving the need for localized food production, making hydroponics an ideal choice for vertical and rooftop farming in urban settings, thereby reducing food miles and environmental impact.

Additionally, rapid technological innovations, including advanced nutrient delivery systems and automation, enhance the efficiency and scalability of hydroponic operations, attracting commercial growers and investors. Regulatory support and incentives for sustainable agriculture practices further promote market growth.

Hydroponics Market Trends/Drivers

Increasing food shortage

The escalating global food shortage crisis is catalyzing the market. As the world's population grows, traditional soil-based agriculture faces mounting challenges in meeting the surging demand for food. Climate change-induced extreme weather events, diminishing arable land due to urbanization, and water scarcity further exacerbate this issue. Hydroponics presents a viable solution to bridge the growing food gap.

These systems allow for highly efficient and year-round crop production, making them a compelling choice for bolstering food supply. By cultivating crops without soil in controlled indoor environments, hydroponics can achieve significantly higher yields than traditional farming, even in areas with adverse weather conditions or limited arable land. Moreover, hydroponic setups are adaptable to urban settings, facilitating localized food production that reduces the need for long-distance transportation, lowering carbon emissions, and improving food security.

The technology's inherent resource efficiency, with reduced water usage and minimal reliance on chemical inputs, aligns with sustainability goals and reduces pressure on strained natural resources. In this era of increasing food insecurity, hydroponics emerges as a transformative force in modern agriculture, helping to ensure a more resilient, sustainable, and bountiful food supply, thus driving its rapid market growth and adoption worldwide.

Reducing arable land area

The diminishing availability of arable land is propelling the market growth. Across the globe, urbanization, land degradation, and competing land-use demands have severely limited the amount of land suitable for traditional soil-based agriculture. As this trend continues, finding innovative agricultural methods that can efficiently use limited space becomes increasingly imperative, and hydroponics emerges as a solution.

It eliminates the necessity for vast expanses of arable land, allowing crops to flourish without soil. Instead, plants grow in nutrient-rich water solutions, often in vertically stacked systems or controlled indoor environments. This vertical and soilless approach enables cultivation in urban settings, such as vertical farms and rooftop gardens, making space most available.

Furthermore, it provides a means to reclaim non-arable or contaminated land for agricultural purposes. Hydroponic systems can be set up virtually anywhere, including former industrial sites or areas with pollution concerns, by circumventing the need for fertile soil.

They offer a pathway to sustainable and efficient food production in a world with limited land resources and an expanding population. Hydroponics ensures food security as the pressure on arable land continues to mount. It contributes to conserving vital natural habitats, underpinning its substantial growth in the modern agricultural landscape.

Development of efficient indoor and outdoor hydroponic gardening methods

The development of efficient indoor and outdoor hydroponic gardening methods is expected to offer numerous opportunities for the market. These innovative cultivation techniques have unleashed the potential of hydroponics, making it an attractive and feasible choice for a diverse range of growers, from urban enthusiasts to large-scale commercial operations.

Efficient indoor hydroponic systems have revolutionized the way crops are grown. Advanced setups employ technologies such as LED grow lights, automated nutrient delivery, and precise environmental control to create optimal conditions for plant growth.

This enables year-round cultivation and the ability to tailor environmental parameters like temperature, humidity, and light intensity to specific crop requirements. As a result, indoor hydroponics has become a staple in urban farming, enabling fresh produce to be grown locally and sustainably, reducing food miles and associated carbon emissions. These methods, such as vertical farming and greenhouse cultivation, have extended hydroponics' reach.

These systems maximize land use while protecting from adverse weather conditions. They're particularly valuable in regions with limited arable land or challenging climates. By optimizing resource utilization and crop yields, outdoor hydroponics addresses food security concerns and reduces the strain on traditional agriculture.

Key Questions Answered in This Report:

How has the global hydroponics market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global hydroponics market?
What is the impact of each driver, restraint, and opportunity on the global hydroponics market?
What are the key regional markets?
Which countries represent the most attractive hydroponics market?
What is the breakup of the market based on the type?
Which is the most attractive type in the hydroponics market?
What is the breakup of the market based on the crop type?
Which is the most attractive crop type in the hydroponics market?
What is the breakup of the market based on the equipment?
Which is the most attractive equipment in the hydroponics market?
What is the competitive structure of the global hydroponics market?
Who are the key players/companies in the global hydroponics market?

Competitive Landscape

AeroFarms
Argus Control Systems Limited (Controlled Environments Limited)
BrightFarms
General Hydroponics Inc.
GreenTech Agro LLC
GrowLife Inc.
Hydrodynamics International
Hydrofarm LLC
Logiqs B.V.
LumiGrow Inc.
Thanet Earth Limited
Village Farms International Inc.

Hydroponics Industry Segmentation

Breakup by Type:

Aggregate Hydroponic System
Closed System
Open System
Liquid Hydroponic System
Aggregate hydroponic system dominate the market

Breakup by Crop Type:

Tomato
Lettuce and Leafy Vegetables
Pepper
Cucumber
Microgreens
Tomato dominates the market

Breakup by Equipment:

HVAC
LED Grow Light
Irrigation Systems
Material Handling
Control Systems
HVAC dominates the market

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Latin America
Brazil
Mexico
Middle East and Africa
North America exhibits a clear dominance, accounting for the largest market share

For more information about this report visit https://www.researchandmarkets.com/r/ifpuig

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