Hydroponics

Hydroponics Market by Component (Environmental Control Systems, Growing Medium, Hydroponic Systems), Crop Type (Flowers, Fruits, Vegetables) - Global Forecast 2024-2030

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[181 Pages Report] The Hydroponics Market size was estimated at USD 1.18 billion in 2023 and expected to reach USD 1.30 billion in 2024, at a CAGR 10.09% to reach USD 2.33 billion by 2030.

Hydroponics Market
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The hydroponics market comprises systems and solutions that facilitate plant growth by utilizing nutrient-rich water solutions and aggregate substrates, such as vermiculite, coconut coir, or perlite. Hydroponics systems facilitate higher yields, reduce resource consumption, and efficiently cultivate space. Factors driving the growth of the hydroponics market include the increasing global population leading to a food demand-supply gap, diminishing arable land due to urbanization and soil degradation, and the rising need for sustainable agricultural practices with reduced water usage and environmental impact. The pharmaceuticals and nutraceuticals industry can utilize hydroponics systems for growing medicinal plants with standardized levels of active compounds. However, limitations and challenges hindering the growth of this market include high initial investment costs, limited crop variety suitable for hydroponic cultivation, increased energy consumption, and pest management issues in controlled environments. However, market players are incorporating automation technologies such as smart sensors, remote monitoring capabilities, AI, and machine learning algorithms into systems for optimizing resource management and expanding market growth. Furthermore, ongoing research activities for sustainable mediums, incorporating energy-efficient lighting innovations, and the emergence of biological control agents for eco-friendly pest management can overcome challenges and expand the market growth in the forecast period.

Hydroponics Market - Global Forecast 2024-2030
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Regional Insights

The hydroponics market is witnessing significant growth across various regions, including the Americas, Asia-Pacific (APAC), and Europe, Middle East & Africa (EMEA). Rapid urbanization, limited arable land, and the increasing demand for organic food are factors driving the adoption of hydroponic systems in the Americas. The United States Department of Agriculture (USDA) supports hydroponic farming through various initiatives such as farm loans and grants. In Canada, industry players, including Nutrien Ltd., have expanded their capacities by acquiring hydroponic nutrient solution providers. On the other hand, Europe has witnessed considerable growth in hydroponics adoption due to favorable government regulations that encourage sustainable agriculture. Water scarcity has accelerated the adoption of hydroponic systems in the MEA region. Middle Eastern nations such as UAE and Israel have made substantial investments in modern agricultural technologies. The APAC region has also witnessed a tremendous increase in hydroponic farming adoption due to increasing urbanization, population growth, and reduced arable land. In 2023, China's Ministry of Agriculture and Rural Affairs announced new policies supporting the development of modern agriculture systems such as hydroponics. Japan has also proactively embraced the technology with initiatives, including the "Farming for Future'' program. Additionally, promoting awareness and offering training programs about the benefits of hydroponics among farmers can further accelerate its acceptance.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Hydroponics Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Hydroponics Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • Israeli Hydroponics Start-Up Expands Into the U.S.

    Growee, an Israeli AgTech startup, established a new distribution center in Florida to expand its product offerings in the U.S.The company planned to provide a comprehensive hardware and software platform for small-scale hydroponics growers, including urban farmers, educational and research facilities, container farms, and home growers. [Published On: 2023-06-05]

  • AYR Wellness Inc. Closes Acquisition of Tahoe Hydroponics

    AYR Wellness Inc. has completed the acquisition of Tahoe Hydroponics Company, LLC. With this acquisition, the company planned to enhance its business offerings in Nevada. The acquisition of Tahoe Hydro signifies AYR's dedication to building a strong foundation and expertise in the hydroponics industry. [Published On: 2023-04-10]

  • Ingersoll Rand Inc. Expands Hydroponic Portfolio With Dosatron Acquisition

    Ingersoll Rand Inc. acquired Dosatron International L.L.C. and Dilution Solutions L.L.C. to enhance unique offerings and expand its product portfolio. This strategic acquisition aims to expand Ingersoll Rand's presence in hydroponics, animal health, food safety, sanitation, horticulture, and water treatment markets. [Published On: 2022-10-03]

Key Company Profiles

The report delves into recent significant developments in the Hydroponics Market, highlighting leading vendors and their innovative profiles. These include 3Dponics Inc., Akarshak Hydroponics, AmHydro, Argus Control Systems Limited, Blue Mitten Farms, Bowery Farming Inc., BrightFarms, Inc., Brio Agri Producer Company Limited, CityCrop, Cropking Incorporated, CubicFarm Systems Corp., Emerald Harvest Ltd., Evogro Ltd., Farmshelf, Foshan GrowSpec BioTech Co., Ltd., Freight Farms, Inc., General Hydroponics, Gotham Greens Holdings, LLC, GroFlo Hydroponics, Grow Up Group Limited, GrowPura, Guangzhou Vanten Technology Co., Ltd., Hangzhou China Agrotime Agri-Tech Co., Ltd., Heliospectra AB, Hydra Unlimited, Hydrofarm Holdings Group, Inc., HydroGarden Ltd., Hydroponic System International, Infarm – Indoor Urban Farming B.V., Natufia Saudi Arabia LLC, New Growing System S.L., Nutrifresh Farm Tech India Private Limited, ScottsMiracle-Gro, Shandong Huijing Greenhouse, The Scotts Company LLC, Tianjin Yuanxintai Industry Co., Ltd., Triton Foodworks, Village Farms International Inc., Weifang Jianda Glassware Material Co., Ltd., and Xiamen Wellgain Greenhouse Engineering Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Hydroponics Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Component
    • Environmental Control Systems
      • Control Systems
      • HVAC
      • Irrigation Systems
      • LED Grow Light
      • Material Handling
    • Growing Medium
      • Coco Fiber
      • Perlite & Vermiculite
      • Rockwool
    • Hydroponic Systems
      • Aeroponics
      • Deep Water Culture
      • Drip System
      • Ebb and Flow
      • Nutrient Film Technique
      • Wick System
    • Nutrient Solution
      • NPK
      • Trace Minerals
  • Crop Type
    • Flowers
    • Fruits
    • Vegetables

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

The report offers valuable insights on the following aspects:

  1. Market Penetration: It presents comprehensive information on the market provided by key players.
  2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
  3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
  4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
  5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

  1. What is the market size and forecast of the Hydroponics Market?
  2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Hydroponics Market?
  3. What are the technology trends and regulatory frameworks in the Hydroponics Market?
  4. What is the market share of the leading vendors in the Hydroponics Market?
  5. Which modes and strategic moves are suitable for entering the Hydroponics Market?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Hydroponics Market, by Component
  7. Hydroponics Market, by Crop Type
  8. Americas Hydroponics Market
  9. Asia-Pacific Hydroponics Market
  10. Europe, Middle East & Africa Hydroponics Market
  11. Competitive Landscape
  12. Competitive Portfolio
  13. List of Figures [Total: 20]
  14. List of Tables [Total: 566]
  15. List of Companies Mentioned [Total: 40]
Exploring the Incredible Opportunities of Hydroponics with Favorable Government Support
September 28, 2023
BLOG
Exploring the Incredible Opportunities of Hydroponics with Favorable Government Support
Hydroponics is a groundbreaking farming technique for cultivating plants in nutrient-rich water. The method presents an immense opportunity for farmers to grow vegetables, fruits, and other crops with little water and space. One of the most promising aspects of hydroponics is the favorable government subsidies, grants, and programs for hydroponic farming, which have significantly contributed to the growth of this industry. This blog post explores the incredible opportunities of hydroponics in today's agricultural sector and how favorable government support drives this field.

Hydroponics and Food Security:

One of the most significant drivers of hydroponic farming is food security. With a rising population and increasing demand for fresh produce, conventional farming practices cannot meet the demand. Hydroponics, conversely, allows farmers to grow more food with less water and land, making it an incredibly sustainable way to produce food. The government supports this need by subsidizing hydroponic farmers, particularly in areas with food shortages.

Renewable Energy Incentives:

Hydroponics farming is an energy-intensive process, with lighting and heating being the most significant contributors to energy consumption. However, with the government's renewable energy incentives, hydroponic farmers can adopt sustainable energy sources such as solar, wind, or geothermal to reduce energy costs. This not only helps farmers save money but is also environmentally friendly, promoting sustainability in the long run.

Economic Opportunities for Farmers:

The hydroponics industry presents promising economic opportunities for farmers, with numerous advantages over traditional farming methods. Hydroponics farming requires less space than traditional farming, so farmers can cultivate their crops on non-arable land. Additionally, hydroponics is a faster-growing process, with plants maturing faster than usual. The government supports this aspect by providing various grants, subsidies, and training programs to help farmers adopt hydroponics.

Conservation of Natural Resources:

Hydroponics is a water-efficient farming method, using up to 90% less water than traditional farming. With water scarcity becoming a global concern, hydroponics is a welcomed addition to the agriculture industry due to its water conservation advantages. Also, hydroponics uses fewer pesticides and herbicides than traditional farming, making it safer for the environment and wildlife.

Increased Crop Quality and Quantity:

Hydroponic farming has produced better crop yields with less waste, thanks to the controlled environment. Farmers can control the nutrients, pH, and temperature with hydroponics, positively impacting the plant's yield and quality. Additionally, with favorable government policies, hydroponic farmers can access financial benefits, making it a profitable investment with high returns.

Hydroponics presents a revolutionary farming method with tremendous potential for the future of agriculture, especially with the government's support. With favorable policies such as grants, subsidies, and training programs, hydroponic farmers can access numerous resources necessary for success. Additionally, hydroponics is a sustainable and eco-friendly technique that addresses the pressing issues of food security and water scarcity, all while creating new economic opportunities. With such incredible benefits, hydroponics is an exciting glimpse into the future of agriculture.

Frequently Asked Questions
  1. How big is the Hydroponics Market?
    Ans. The Global Hydroponics Market size was estimated at USD 1.18 billion in 2023 and expected to reach USD 1.30 billion in 2024.
  2. What is the Hydroponics Market growth?
    Ans. The Global Hydroponics Market to grow USD 2.33 billion by 2030, at a CAGR of 10.09%
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