The global hydroponics system market represents a paradigm shift in agriculture, employing soilless cultivation techniques. This method, gaining traction worldwide, involves nutrient-rich water solutions to foster plant growth. The market is characterized by the increasing adoption of hydroponics across diverse crops, from vegetables to herbs, driven by the quest for more sustainable and efficient farming practices. Additionally, advancements in technology and equipment, such as vertical farming and aeroponics, are enhancing the scalability and productivity of hydroponic systems, positioning them as key players in the evolving landscape of global agriculture.
Data Bridge Market Research analyses that the Global Hydroponics System Market is expected to reach USD 19.94 billion by 2030, which was USD 7.34 billion in 2022, registering a CAGR of 13.30% during the forecast period of 2023 to 2030.
"Increasing demand for aggregate hydroponics system drive the market growth"
The market for aggregate hydroponics systems is anticipated to witness substantial growth in the forecast period due to increasing demand for these systems. Employed in various hydroponic farming techniques such as drip, wick, EBB, and flow systems, aggregate systems play a crucial role in crop production. Their widespread application contributes to a surge in demand, fostering overall market growth. As these systems prove integral to efficient and productive hydroponic cultivation, their rising popularity significantly boosts the market's expansion.
What restraints the growth of the global hydroponics system market?
"High cost hamper the market growth"
The hydroponic system market faces hindrances due to its high cost, a significant deterrent to market growth. Despite the accelerated crop growth rates in hydroponics compared to soil cultivation, the substantial one-time setup expenses ranging from Rs 18,87,200 to 20,00,000 present a formidable barrier. This cost factor adversely impacts market expansion during the forecast period, limiting accessibility and adoption of hydroponic systems.
Segmentation: Global Hydroponics System Market
The global hydroponics system market is segmented on the basis of type, equipment, input, and crop type.
- On the basis type, the global hydroponics system market is segmented into aggregate and liquid
- On the basis of equipment, the global hydroponics system market is segmented into (heating, ventilation, and air conditioning (HVAC), led grow light, control system, irrigation system, material handling, potential of hydrogen (P.H.), and carbon dioxide (CO2) sensors
- On the basis of input, the global hydroponics system market is segmented into nutrients and grow media
- On the basis of crop type, the global hydroponics system market is segmented into vegetables, fruits, flowers, cannabis, fodder crops and herbs
Regional Insights: Europe dominates the Global Hydroponics System Market
Europe dominates the global hydroponics system market in revenue and market share, fueled by advancements in greenhouse farming and robust government initiatives. The region's emphasis on highly modernized agricultural techniques is a key driver, propelling market growth. Europe's commitment to innovative and sustainable farming practices positions it at the forefront of hydroponics adoption. This dominance is expected to persist as the region continues to prioritize agricultural modernization, contributing significantly to the global hydroponics system market.
Asia-Pacific is expected to dominate the global hydroponics system market, emerging as the fastest-growing region from 2023 to 2030. The region's rapid growth is attributed to the increasing demand for fresh food. Government support for establishing hydroponic farms in Asia-Pacific will be a key driver, fostering significant market expansion during the forecast period. The combination of consumer preferences for fresh produce and supportive policies propels the region to the forefront of hydroponics system adoption.
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The Prominent Key Players Operating in the Global Hydroponics System Market Include:
- Thanet Earth Limited (U.K.)
- Pegasus Agritech (India)
- Koninklijke Philips N.V. (Netherlands)
- General Hydroponics (U.S.)
- Village Farms International Inc. (Canada)
- ROCKWOOL A/S (Denmark)
- Heliospectra AB (Sweden)
- Hydroponic Systems International (Spain)
- LOGIQS B.V. (Netherlands)
- The Scotts Company LLC (U.S.)
- FRESHBOX FARMS (U.S.)
- AeroFarms (U.S.)
- Freight Farms, Inc. (U.S.)
- Triton Foodworks (India)
- AirLogix (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global hydroponics system market companies, contact: https://www.databridgemarketresearch.com/fr/contact
Research Methodology: Global Hydroponics System Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
