Hydroponics Market Size, Share, Trends, Growth 2032

Hydroponics Market Insights

According to Zion Market Research, the global Hydroponics Market was worth USD 38.14 Billion in 2023. The market is forecast to reach USD 123.56 Billion by 2032, growing at a compound annual growth rate (CAGR) of 12.5% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Hydroponics Market industry over the next decade.

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Global Hydroponics Market: Overview

Technology is used to grow crop production without soil and nutrient-rich solutions. Plants are grown in the mineral nutrient solution and soil-less conditions known as hydroponics. Traditionally, crops were grown in a particular climate condition but in hydroponics, they are grown in a controlled environment system. Hydroponics uses two methods to grow crops solid medium culture and solution culture. However, solution culture is gaining popularity across the world.

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Global Hydroponics Market: Growth Factors

The hydroponic industry is experiencing higher growth as compared to traditional agricultural techniques; this is a major factor in the global hydroponics market. Salad crops are gaining popularity and the increasing need for food security may drive global market growth. Changing preferences of people for hydroponics as profit farming is the primary factor impelling the growth of the global market. Moreover, a growing focus on the cultivation of medicinal plants and a customized farming approach is anticipated to offer new growth opportunities for the industry. Companies are focusing on enhancing crop production by accepting the hydroponics method. Moreover, large spending on R&D activities and new product launches may expand the market. Conversely, a lack of awareness regarding hydroponics and huge initial investment may hamper the global market growth to some extent.

Global Hydroponics Market: Segmentation

Based on crop type as the lettuce & leafy greens, strawberry, pepper, tomato, cucumber, and others.

Based on the input type, the global market is divided into nutrients and growth medium.

The nutrients segment is sub-segmented as micronutrients, and macronutrients. However, the growth medium is further sub-segmented as rock wool, perlite & vermiculite, grow rocks, coco fiber, and others.

Based on type as aggregate hydroponic systems, and liquid hydroponic systems. The liquid hydroponic system is further sub-segmented as nutrient film technique, floating hydroponics, and aeroponics.

Based on equipment such as HVAC, irrigation systems, communication technology, control systems, material handling, LED grow lights, and others.

Hydroponics Market: Report Scope

Global Hydroponics Market: Regional Analysis

Traditionally, Europe is considered the largest market as it highly adopts hydroponic smart greenhouse horticulture. The European market is dominated by the countries such as France, the Netherlands, and Spain. The Asia Pacific emerges as the second-largest market for hydroponics and is anticipated to grow at a significant rate. North America is the major consumer of hydroponics where it is followed by Canada and the United States.

Global Hydroponics Market: Competitive Players

Major players operating in the global hydroponics market are

• Pegasus Agritech
• Thanet Earth
• Lumigrow, Inc
• Growlife
• Hydrodynamics International, Inc
• KUBO Greenhouse Projects
• Koninklijke Philips NV
• Circle Fresh Farms
• General Hydroponics, Inc
• HortiMaX
• Terra Tech
• Valoya
• Village farms international
• James Foskett farms
• Hydrofarm, Inc
• FormFlex
• BrightFarms
• Logiqs B.V.
• Greentech Agro, Llc
• American Hydroponics, Inc
• Heliospectra AB
• Argus Controls
• FormFlex

The global hydroponics market is segmented as follows:

By Crop Type

• Strawberry
• Lettuce & Leafy Greens
• Tomato
• Pepper
• Cucumber
• Others

By Input Type

• Growth Medium
• Erlite & Vermiculite
• Rock Wool
• Coco Fiber
• Grow Rocks
• Others

By Nutrients

• Micronutrients
• Macronutrients

By Type

• Liquid Hydroponic Systems (Floating Hydroponics, Nutrient Film Technique, Aeroponics)
• Aggregate Hydroponic Systems

By Equipment

• Irrigation Systems
• HVAC
• Control Systems
• Communication Technology
• Led Grow Light
• Material Handling
• Others

 Hydroponics Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of The Middle East & Africa