According to this latest publication from Meticulous Research®, the Hydroponics Market is expected to reach $35.4 billion by 2030, at a CAGR of 15.6% during the forecast period 2023–2030. The growth of this market is mainly driven by the growing population and reduction in arable land, changing climatic conditions and erratic weather patterns, rising need to increase agricultural productivity, increase in demand for fresh food products among the urban population, and growing demand for chemical-free fruits and vegetables. In addition, the rising adoption of hydroponics farming for cannabis cultivation further supports the growth of this market.
Moreover, technological advancement in the hydroponics sector and the increasing adoption of urban farming using vertical hydroponics systems are expected to provide significant growth opportunities to the stakeholders operating in this market. However, the critical management requirement, lack of knowledge and expertise in developing countries, and high capital investment for large-scale farms are some of the factors that hinder the growth of the hydroponics market to some extent.
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This research report also analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, Netherlands, Spain, France, U.K., Greece and RoE), Asia-Pacific (China, Japan, India, Australia, South Korea, and RoAPAC), Latin America (Brazil, Argentina, Mexico, and RoLATAM), and the Middle East & Africa. Europe is expected to account for the dominant position in the global hydroponics market.
The dominant position of this region is primarily attributed to the presence of key players, technological advancements, high adoption of hydroponics driven by rapid industrialization and scarcity of land, availability of required infrastructure to run hydroponics farms, and rising demand for fresh and chemical-free food. Moreover, the rising government support for hydroponics farming further drives this market's growth.
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Scope of the report:
Hydroponics Market, by Type
Non-aggregate System (Liquid System)
Deep Water Culture
Nutrient Film Technique (NFT)
Other Non-aggregate System
Ebb and Flow System
Other Aggregate System
Hydroponics Equipment Market, by Type
LED Grow Lights
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The key players operating in the hydroponics market are Argus Control Systems Ltd. (Canada), Signify Holding B.V. (Netherlands), The Scotts Miracle-Gro Company (U.S.), Hydroponic Systems International (Spain), Hydrodynamics International Inc (U.S.), AmHydro (U.S.), Emerald Harvest (U.S.), Heliospectra AB (Sweden), Freight Farms, Inc. (U.S.), Logiqs BV (Netherlands), AirLogix (U.S.), and Nutriculture Grow Systems (U.K), among others.
Key questions answered in the report:
Which are the high-growth market segments in terms of type, equipment, input, crop type, and country/region?
What is the historical market size for hydroponics across the globe?
What are the market forecasts and estimates for 2023–2030?
What are the major drivers, restraints, opportunities, challenges, and trends in the global hydroponics market?
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