Hydroponics Market to Reach Valuation of USD 58.3 Billion by 2030 – Growing Awareness and Preference for Organic and Sustainable Farming Practices Drives the Market

In terms of revenue, the Global Hydroponics Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 7.5% from 2023 to 2030.

The global Hydroponics market has been growing steadily over the past few years and is expected to continue in the foreseeable future. Hydroponics is cultivating plants without soil, using nutrient-rich water and mineral solutions instead. This technique enables plants to grow faster and in a controlled environment, producing higher crop yields and quality.

One of the major factors driving the growth of the global Hydroponics market is the increasing demand for fresh, high-quality fruits and vegetables. With the expanding global population and rising urbanization, traditional farming methods cannot meet the demand for fresh produce. Additionally, Hydroponics allows for year-round cultivation, irrespective of weather conditions or geographical constraints, giving farmers greater flexibility and the ability to cater to consumer demands.

Key Highlights from the Report

• Based on the Farming Method, the Outdoor segment accounted for the most significant market growth. It contributed over 55.9% of the total revenue share in 2022. The increase in population and urbanization has led to a limited availability of fertile land. As a result, outdoor Hydroponics has emerged as a successful method for growing crops in confined spaces.
• Based on Type, the Liquid Systems segment dominates the Hydroponics market owing to its benefits over traditional soil-based methods.
• Based on Region, Europe holds the significant market share of 42.00% within the Hydroponics market in 2022 because of the growing desire for produce that is locally sourced, free from pesticides and sustainable, the necessity for effective water management, and the upward trend of urban farming.

Market Dynamics

The growing awareness and preference for organic and sustainable farming practices propel the global Hydroponics market expansion. Hydroponics eliminates the need for pesticides or herbicides, making it an environmentally friendly farming method. The controlled environment also reduces the risk of diseases and pests, minimizing the use of chemicals and antibiotics. As consumers become increasingly environmentally and health-conscious, the demand for organically grown produce is driving the growth of the Hydroponics market.

Technological advancements and innovations in Hydroponics system also contribute significantly to the market's growth. Farmers can produce larger crops, optimize resource utilization, and reduce labor costs with new technologies, such as vertical farming and commercial-scale automated systems. These advanced systems enable growers to monitor and adjust environmental factors like humidity, temperature, and nutrient levels, ensuring optimal plant growth and maximizing yields.

In contrast to the traditional annual harvest, four harvests can be carried out according to environmental control in a single year. Cities like Indianapolis are investing more in local food production systems as more people worldwide move into cities. These systems provide potential for economic growth and lower cities' carbon footprints by consuming 90% less water than traditional farming methods. Additionally, there has been tremendous agricultural innovation in desert regions, such as those in Israel. Due to its desert climate and lack of water, the country has been utilizing Hydroponics to grow berries and bananas in shipping containers. Although these fruits cannot be cultivated in that climate, they still have the ability to yield 1,000 times greater produce.

Europe led the Hydroponics market in 2022 with a 42.00% revenue share. This is being driven by various factors, including the increasing demand for locally grown, pesticide-free, and sustainable produce, the need for efficient water use, and the rising popularity of urban farming. Hydroponics systems also require significantly less water than traditional soil-based farming methods. This is particularly important in Europe, where water scarcity is a growing concern. Hydroponics allows for water recycling and efficient use, making it an attractive choice for farmers and sustainability-focused consumers. The increasing trend of urban farming also contributes to the Hydroponics market growth in Europe. Urban farming is gaining popularity due to the limited availability of arable land and the desire to promote local food production.

The Asia-Pacific market is estimated to be the fastest-growing region in the global Hydroponics market due to the rising population, urbanization, and the need to ensure food security. Countries like China, India, and Japan are investing heavily in Hydroponics technology and infrastructure to boost crop production and reduce the reliance on imported fruits and vegetables. Additionally, several Hydroponics startups and research institutions in the region are driving innovation and fostering market growth.

The Global Hydroponics Market is Segmented as follows

• Type
  • Aggregate Systems
  • Ebb & Flow Systems
  • Drip Systems
  • Wick Systems
  • Liquid Systems
  • Deep Water Culture
  • Nutrient Film Technique (NFT)
  • Aeroponics
• Equipment
  • HVAC
  • LED Grow Lights
  • Control Systems
  • Irrigation Systems
  • Material Handling Equipment
  • Other Equipment
• Input
  • Nutrients
  • Growth Media
• Farming Method
  • Indoor
  • Outdoor
• Crop Area
  • Upto 1000 Square Feet
  • 1000-10000 Square Feet
  • 10000-50000 Square Feet
  • Above 50000 Square Feet
• Crop Type
  • Tomatoes
  • Lettuce
  • Peppers
  • Cucumbers
  • Herbs
  • Fruits
  • Other Crop Types
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Hydroponics Market is

AeroFarms Inc. (U.S.), AmHydro (U.S.), Argus Control Systems Ltd. (Canada), Emirates Hydroponics Farms (U.A.E.), Freight Farms (U.S.), Green Sense Farms Holdings Inc. (U.S.), LumiGrow Inc. (U.S.), Signify Holding (Netherlands), BrightFarms (U.S.), Infarm (Germany)

The Global Hydroponics Market Scope can be Tabulated as below