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Hydroponics Market Size, Share & Trends Analysis - Global Opportunity Analysis And Industry Forecast 2030

Hydroponics Market Size, Share & Trends Analysis - Global Opportunity...

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Hydroponics Market Size, Share & Trends Analysis - Global Opportunity Analysis And Industry Forecast 2030
Hydroponics Market Size, Share &...
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The global hydroponics market size was US$ 10.1 billion in 2021. The global hydroponics market is forecast to grow to US$ 18.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 10.9% during the forecast period from 2022 to 2030. 
Hydroponics is the process of growing plants without soil using significant nutrients in a mineral-rich water solution. A plant can only grow if it receives enough sunlight, water, and specific nutrients. Hydroponic gardening can use any amount of water that can be filtered and reused, eliminating the need for fresh water and taking up less space.

Factors Influencing the Market
The growing consumption of raw vegetables in the form of salad will primarily drive the growth of the hydroponics market during the forecast period. Further, food is a basic necessity, and demand for vegetables is increasing across the world. Thus, it will contribute to the growth of the hydroponics market during the forecast period. 
The contribution of online food platforms, hotels, and resorts, will also raise the demand for vegetables, thereby propelling the hydroponics market forward. 
Further, scarcity of water and limited availability of freshwater will also upsurge the demand for hydroponics in the coming years. On the contrary, high capital investment associated with hydroponics may limit the growth of the overall market during the forecast period.

COVID-19 Impact Analysis
While many industries are contracting as a result of the COVID-19 pandemic, demand for hydroponic farming has increased over the past few years. Even before the pandemic, this type of farming was gaining traction in urban areas. Because vertical farms control everything from seeds to stores, it is now experiencing rapid growth.

Regional Analysis
North America is forecast to hold a high market share in the hydroponics market, owing to the rising demand for fresh vegetables and fruits in the region. Further, rooftop hydroponic gardens in urban settings such as New York are forecast to significantly benefit the market in the coming years. The future growth of the hydroponics market in the region is heavily reliant on the development of cost-effective hydroponic production systems that compete with open-field agriculture systems. Hydroponic production has grown in popularity and is considered an efficient method of controlling inputs and managing disease and pest facilitates. Thus, the growing awareness about the benefits of hydroponics in the region will propel the growth of the market during the study period.

Competitors in the Market
• Heliospectra AB (Sweden).
• Scotts Miracle-Gro (US)
• Village Farms (Canada)
• Argus Control Systems (Canada)
• Iron-Ox (US)
• American Hydroponics (US)
• Terra Tech Corp (US)
• Hydroponic Farms (UAE)
• LumiGrow (US)
• Aerofarms (US)
• Signify Holdings (Netherlands)
• Triton Foodworks Ltd. (India)
• Urban cultivator (Canada)
• Green Sense Holdings (US)
• Other Prominent Players

Market Segmentation
The global hydroponics market segmentation focuses on Type, Crop Type, and Region. 
By Type
• Aggregate Hydroponic System
o Closed System
o Open System
• Liquid Hydroponic System
By Crop Type
• Tomato
• Lettuce and Leafy Vegetables
• Pepper
• Cucumber
• Microgreens
• Other Crop Types
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America


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