Hydroponics Market Strategic Insights and Updates by 2031
The Hydroponics Market is expected to register a CAGR of 10.8% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Type (Aggregate Hydroponic System, Liquid Hydroponic System); Equipment (HVAC, Irrigation Systems, Others); Crop Type (Fruits, Vegetables, Flowers, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Hydroponics Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Hydroponics Market Segmentation
Type- Aggregate Hydroponic System
- Liquid Hydroponic System
- HVAC
- Irrigation Systems
- Others
- Fruits
- Vegetables
- Flowers
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Hydroponics Market Growth Drivers- Growing Focus on Resource Conservation: Hydroponics systems conserve natural resources significantly in that they do not require soil or large land areas for cultivation. This subsequently makes hydroponics especially attractive in urban settings where space is limited and traditional farming less possible.
- Growing Demand for Sustainable Practice: Consumers become environut conscious, and their demand for sustainable agricultural practices are growing with time. Hydroponics fits well into this trend since it offers a method of farming that promotes water usage reduction and pesticide usage reduction.
- Technological Advancements: The technological advancement include new and improved systems for hydroponic technology, especially automated systems, improved nutrient solutions, and other new developments, which open opportunities for growth in the market. Such developments may contribute to improved efficiency and yield, thereby making hydroponics more attractive to growers, commercial as well as hobby-level.
- Growing Number of Urban Population: Hydroponics is one of the rare opportunities provided by the increasing number of urban population. Urban agriculture can do a good job of satisfying local demand for food, thereby saving on transportation costs and carbon footprint.
- Increasing Demand for Plant-based Diets: High growth is being witnessed due to consumers gradually moving towards plant-based diets. Hydroponics can easily satisfy the vegetable and herb demand with quality products, thus meeting this new market.
- Integration of Smart Farming Technology: Hydroponic growing systems are an important trend that is integrating IoT and AI technologies to improve growing conditions and monitor the health of plants, allowing for better automation of nutrient delivery while improving productivity and lowering operational costs.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Hydroponics Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Hydroponics Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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Frequently Asked Questions
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Increase in Health and Hygiene Awareness and Integration with IoT is the key future trend of the Hydroponics Market
The leading players operating in the Hydroponics Market include ScottsMiracle-Gro, Triton Foodworks Pvt. Ltd., GreenSense Farms, Emirates Hydroponic Farm, Gotham Greens, Hydrodynamics International, American Hydroponics, Advanced Nutrients, Emerald Harvest
The major factors driving the Hydroponics Market: Technological Advancements and Increasing Demand for Water-Saving Products
The Hydroponics Market is estimated to witness a CAGR of 10.8% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Hydroponics Market - By Type
1.3.2 Hydroponics Market - By Crop Type
1.3.3 Hydroponics Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HYDROPONICS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. HYDROPONICS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. HYDROPONICS MARKET - GLOBAL MARKET ANALYSIS
6.1. HYDROPONICS - GLOBAL MARKET OVERVIEW
6.2. HYDROPONICS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. HYDROPONICS MARKET - REVENUE AND FORECASTS TO 2028 – TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. AGGREGATE HYDROPONIC SYSTEM
7.3.1. Overview
7.3.2. Aggregate Hydroponic System Market Forecast and Analysis
7.4. LIQUID HYDROPONIC SYSTEM
7.4.1. Overview
7.4.2. Liquid Hydroponic System Market Forecast and Analysis
8. HYDROPONICS MARKET - REVENUE AND FORECASTS TO 2028 – CROP TYPE
8.1. OVERVIEW
8.2. CROP TYPE MARKET FORECASTS AND ANALYSIS
8.3. VEGETABLES
8.3.1. Overview
8.3.2. Vegetables Market Forecast and Analysis
8.4. FRUITS
8.4.1. Overview
8.4.2. Fruits Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. HYDROPONICS MARKET REVENUE AND FORECASTS TO 2028 – GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Hydroponics Market Overview
9.1.2 North America Hydroponics Market Forecasts and Analysis
9.1.3 North America Hydroponics Market Forecasts and Analysis - By Type
9.1.4 North America Hydroponics Market Forecasts and Analysis - By Crop Type
9.1.5 North America Hydroponics Market Forecasts and Analysis - By Countries
9.1.5.1 United States Hydroponics Market
9.1.5.1.1 United States Hydroponics Market by Type
9.1.5.1.2 United States Hydroponics Market by Crop Type
9.1.5.2 Canada Hydroponics Market
9.1.5.2.1 Canada Hydroponics Market by Type
9.1.5.2.2 Canada Hydroponics Market by Crop Type
9.1.5.3 Mexico Hydroponics Market
9.1.5.3.1 Mexico Hydroponics Market by Type
9.1.5.3.2 Mexico Hydroponics Market by Crop Type
9.2. EUROPE
9.2.1 Europe Hydroponics Market Overview
9.2.2 Europe Hydroponics Market Forecasts and Analysis
9.2.3 Europe Hydroponics Market Forecasts and Analysis - By Type
9.2.4 Europe Hydroponics Market Forecasts and Analysis - By Crop Type
9.2.5 Europe Hydroponics Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Hydroponics Market
9.2.5.1.1 Germany Hydroponics Market by Type
9.2.5.1.2 Germany Hydroponics Market by Crop Type
9.2.5.2 France Hydroponics Market
9.2.5.2.1 France Hydroponics Market by Type
9.2.5.2.2 France Hydroponics Market by Crop Type
9.2.5.3 Italy Hydroponics Market
9.2.5.3.1 Italy Hydroponics Market by Type
9.2.5.3.2 Italy Hydroponics Market by Crop Type
9.2.5.4 United Kingdom Hydroponics Market
9.2.5.4.1 United Kingdom Hydroponics Market by Type
9.2.5.4.2 United Kingdom Hydroponics Market by Crop Type
9.2.5.5 Russia Hydroponics Market
9.2.5.5.1 Russia Hydroponics Market by Type
9.2.5.5.2 Russia Hydroponics Market by Crop Type
9.2.5.6 Rest of Europe Hydroponics Market
9.2.5.6.1 Rest of Europe Hydroponics Market by Type
9.2.5.6.2 Rest of Europe Hydroponics Market by Crop Type
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Hydroponics Market Overview
9.3.2 Asia-Pacific Hydroponics Market Forecasts and Analysis
9.3.3 Asia-Pacific Hydroponics Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Hydroponics Market Forecasts and Analysis - By Crop Type
9.3.5 Asia-Pacific Hydroponics Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Hydroponics Market
9.3.5.1.1 Australia Hydroponics Market by Type
9.3.5.1.2 Australia Hydroponics Market by Crop Type
9.3.5.2 China Hydroponics Market
9.3.5.2.1 China Hydroponics Market by Type
9.3.5.2.2 China Hydroponics Market by Crop Type
9.3.5.3 India Hydroponics Market
9.3.5.3.1 India Hydroponics Market by Type
9.3.5.3.2 India Hydroponics Market by Crop Type
9.3.5.4 Japan Hydroponics Market
9.3.5.4.1 Japan Hydroponics Market by Type
9.3.5.4.2 Japan Hydroponics Market by Crop Type
9.3.5.5 South Korea Hydroponics Market
9.3.5.5.1 South Korea Hydroponics Market by Type
9.3.5.5.2 South Korea Hydroponics Market by Crop Type
9.3.5.6 Rest of Asia-Pacific Hydroponics Market
9.3.5.6.1 Rest of Asia-Pacific Hydroponics Market by Type
9.3.5.6.2 Rest of Asia-Pacific Hydroponics Market by Crop Type
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Hydroponics Market Overview
9.4.2 Middle East and Africa Hydroponics Market Forecasts and Analysis
9.4.3 Middle East and Africa Hydroponics Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Hydroponics Market Forecasts and Analysis - By Crop Type
9.4.5 Middle East and Africa Hydroponics Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Hydroponics Market
9.4.5.1.1 South Africa Hydroponics Market by Type
9.4.5.1.2 South Africa Hydroponics Market by Crop Type
9.4.5.2 Saudi Arabia Hydroponics Market
9.4.5.2.1 Saudi Arabia Hydroponics Market by Type
9.4.5.2.2 Saudi Arabia Hydroponics Market by Crop Type
9.4.5.3 U.A.E Hydroponics Market
9.4.5.3.1 U.A.E Hydroponics Market by Type
9.4.5.3.2 U.A.E Hydroponics Market by Crop Type
9.4.5.4 Rest of Middle East and Africa Hydroponics Market
9.4.5.4.1 Rest of Middle East and Africa Hydroponics Market by Type
9.4.5.4.2 Rest of Middle East and Africa Hydroponics Market by Crop Type
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Hydroponics Market Overview
9.5.2 South and Central America Hydroponics Market Forecasts and Analysis
9.5.3 South and Central America Hydroponics Market Forecasts and Analysis - By Type
9.5.4 South and Central America Hydroponics Market Forecasts and Analysis - By Crop Type
9.5.5 South and Central America Hydroponics Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Hydroponics Market
9.5.5.1.1 Brazil Hydroponics Market by Type
9.5.5.1.2 Brazil Hydroponics Market by Crop Type
9.5.5.2 Argentina Hydroponics Market
9.5.5.2.1 Argentina Hydroponics Market by Type
9.5.5.2.2 Argentina Hydroponics Market by Crop Type
9.5.5.3 Rest of South and Central America Hydroponics Market
9.5.5.3.1 Rest of South and Central America Hydroponics Market by Type
9.5.5.3.2 Rest of South and Central America Hydroponics Market by Crop Type
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL HYDROPONICS MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Rest of the World
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. HYDROPONICS MARKET, KEY COMPANY PROFILES
12.1. AEROFARMS
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. TERRA TECH CORP
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. TRITON FOODWORKS PVT. LTD.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. FREIGHT FARMS
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. GREEN SENSE FARMS
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. EMIRATES HYDROPONIC FARM
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. HOMESTEAD HYDROPONIC FARM
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. BIOAQUA FARM
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. FARM.ONE
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. INDOOR URBAN FARMING GMBH
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
- Aerofarms
- Terra Tech Corp
- Triton Foodworks Pvt. Ltd.
- Freight Farms
- Bioaqua Farm
- Homestead Hydroponic Farm
- Emirates Hydroponic Farm
- Indoor Urban Farming GmbH
- Green Sense Farms
- Farm.One
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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