Global Hydroponics System Market, By Type (Aggregate and Liquid), Equipment (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), Input (Nutrients and Grow Media), Crop Type (Vegetables, Fruits, Flowers, Cannabis, Fodder Crops, and Herbs) – Industry Trends and Forecast to 2030.
Hydroponics System Market Analysis and Size
According to reports by United Nations on the global population, pants produced in hydroponic systems have reached a 20 to 25 percent higher yield than the traditional agriculture systems, with the productivity being 2 to 5 times higher. The hydroponic system has enough potential to deal with these problems posed to the current agricultural system. Growing crops in optimum conditions using a controlled agriculture system is one of the major benefits of market growth.
Data Bridge Market Research analyses that the 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. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Hydroponics System Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 - 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Aggregate and Liquid), Equipment (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), Input (Nutrients and Grow Media), Crop Type (Vegetables, Fruits, Flowers, Cannabis, Fodder Crops and Herbs)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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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.)
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Market Opportunities
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Market Definition
Hydroponics is the farming of plants without using soil. Hydroponic herbs, flowers, and vegetables are planted in inert growing media and provided with nutrient-rich solutions, water, and oxygen. Hydroponic systems work by allowing control over environmental situations such as pH balance, temperature, and maximize exposure to water and nutrients. This system fosters stronger yields, rapid growth, and superior quality.
Global Hydroponics System Market Dynamics
Drivers
- Growing consumption of salads and exotic vegetables
The increasing consumption of salads and exotic vegetables will likely drive the market's growth during the forecast period. The demand for salads and exotic vegetables has constantly been growing at a higher rate because of the increasing purchasing power of consumers. Hence, the increasing consumption of salads and exotic vegetables is likely to surge the demand for the hydroponic system because commercial farmers are investing more in innovative plantation equipment such as hydroponics systems to decrease operational expenses and increase profits. Thus, the increasing consumption of salads and exotic vegetables will likely increase the demand for hydroponics systems in the forecast period.
- Increasing demand for aggregate hydroponics system
Growing demand for aggregate hydroponics systems is expected to propel the market's growth during the forecast period. The aggregate systems used in hydroponics farming include drip, wick, EBB, and flow systems. These systems are extensively used for the production of the crop. As a result, the demand for the aggregate hydroponics system increases, eventually enhancing market growth.
Opportunities
- Increasing need for food due to rising population growth
The global need for food is increasing rapidly because the population is growing. As per the report by United Nations' Food and Agriculture Organization, the population is anticipated to reach around 9.1 billion by 2050 globally, with food production expected to surge by 25 to 70 percent. This is projected to raise the demand for alternative agricultural systems that provide large yields in minimum time. Alternative high-yield farming systems are progressively being used in the agriculture industry, where water and agricultural land have become scarce, which is likely to surge the demand for hydroponics systems and create lucrative opportunities for market growth.
- Growing adoption of hydroponics systems in cultivation method
Hydroponics system has gained popularity among producers of commercial vegetables since it is an effective system to control inputs and manage facilitates for pests and diseases, not labor-intensive to manage larger production areas. A hydroponics system removes the requirement for soil fumigants and can raise the yields of popular vegetables. As a result, all these factors increase the adoption of hydroponics systems in cultivation methods, which is anticipated to create lucrative opportunities for market growth.
Restraints/ Challenges
- Inadequate awareness regarding profits of hydroponics system
Inadequate awareness regarding the advantages of hydroponics systems among farmers, such as controlled level of nutrition, higher yield, Up to 90 percent more efficient use of water, and many others, will expect to obstruct the growth of the hydroponics system market in the forecast period of 2023 to 2030.
- High cost of hydroponic systems
The high cost of the hydroponic systems is the other major factor that will hamper the market growth because of the higher growth rate of crops grown in hydroponics compared to crops grown in soil. Furthermore, the total cost of a one-time setup of a hydroponics system is between Rs 18 87,200 to 20, 00,000, which will also hinder the market growth during the forecast period.
This hydroponics system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the hydroponics system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Hydroponics System Market Scope
The hydroponics system market is segmented on the basis of type, equipment, input and crop type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Aggregate
- EBB and Flow System
- Drip System and Wick System
- Liquid Deep
- Water Culture Systems
- Nutrient Film Techniques (NFT)
- Aeroponics.
Equipment
- Heating, Ventilation, and Air Conditioning (HVAC)
- Led Grow Light
- Control System
- Irrigation System
- Material Handling
- Potential of Hydrogen (P.H.)
- Carbon Dioxide (CO2) Sensors
Input
- Nutrients
- NPK (Nitrogen (N), Phosphorus (P) and Potassium (K))
- Trace Mineral
- Other Nutrients
- Grow Media
- Clay
- Rockwool
- Coco Coir
- Perlite and Vermiculite
- Others.
- Others
Crop Type
- Vegetables
- Leafy Greens
- Peppers
- Cucumber
- Tomato
- Others
- Fruits
- Flowers
- Others
Hydrophonics System Market Regional Analysis/Insights
The hydrophonics system market is analyzed and market size insights and trends are provided by country, type, type, equipment, input and crop type as referenced above.
The countries covered in the hydrophonics system market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Global (APAC) in the Global (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe dominates the hydroponics system market in terms of revenue and market share because of increasing advancement in greenhouse farming and strong government initiatives within the region. Furthermore, highly modernized techniques in Europe will further boost market growth.
Asia-Pacific is anticipated to be the fastest-growing region in the hydroponics system market during the forecast period of 2023-2030 due to the growing demand for fresh food among the population in this region. Moreover, an increase in government support for establishing hydroponic farms will further increase the market growth,
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Hydrophonics System Market Share Analysis
The hydroponics system 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 the hydrophonics system market.
Some of the major players operating in the hydroponics system market are:
- 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.)
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