Hydroponics Market Growth Factors, Segmentation, Trends, Opportunities, Key Players and Forecast | Evolve Business Intelligence

As per the study initiated by Evolve Business Intelligence, The global Hydroponics market size is expected to reach $24.72 Billion by 2028 growing at a CAGR of 11.46% from 2021 to 2028. Hydroponics is a soilless method of cultivating plants in a nutrient-rich water solution, allowing for the precise control of essential nutrients, pH levels, and environmental conditions. Instead of traditional soil, hydroponic systems utilize inert growing mediums such as perlite, coconut coir, or rockwool to support plant roots. In this method, plants receive all their required nutrients directly through the water, promoting efficient nutrient absorption and often resulting in faster growth rates and higher yields. Hydroponic systems can vary in complexity, ranging from simple setups for home gardening to advanced commercial systems, and they are commonly employed in controlled environments such as greenhouses or indoor farms to optimize plant development while conserving water and space.

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The Hydroponics market is primarily driven by the increasing global demand for sustainable and high-yield agriculture, as hydroponic systems offer efficient water use, precise nutrient control, and year-round cultivation, appealing to farmers and growers seeking innovative and resource-efficient farming methods. Additionally, the growing interest in urban farming and the need for food production in limited spaces contribute to the market's expansion.

Key Players
Some of the major Hydroponics Market players holding high market shares include Signify Holdings, Argus Control Systems, Heliospectra, Scotts Miracle-Gro, and American Hydroponics. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include LumiGrow, Emerald Harvest, Hydroponic Systems International, Advanced Nutrients, and Hydrodynamics International.

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Segmental Analysis
Based on type, the Hydroponics market is segmented into Aggregate Systems and Liquid Systems. The dominance of the Aggregate Systems segment in the Hydroponics market is attributed to its versatility and effectiveness, providing optimal physical support for plant roots, excellent aeration, and efficient nutrient delivery, making it a preferred choice for commercial hydroponic cultivation due to enhanced crop yields and resource efficiency.
Based on Input, the Hydroponics market is Nutrients and Rockwool. The Hydroponics market projected high CAGR in the Nutrient segment is attributed to the increasing recognition of the critical role specialized nutrient solutions play in optimizing plant growth and yields, driving demand for advanced formulations to meet the specific nutritional needs of hydroponically cultivated crops.

Based on Equipment, the Hydroponics market is segmented into HVAC, LED Grow Lights, Irrigation Systems, Material Handling, Control Systems, and Others. The dominance of the HVAC (Heating, Ventilation, and Air Conditioning) segment in the Hydroponics market is attributed to its pivotal role in maintaining precise environmental conditions, including temperature and humidity control, essential for maximizing plant growth, productivity, and overall hydroponic system efficiency.

Based on Crop Type, the Hydroponics market is segmented into Vegetables, Fruits, Flowers, Others. The dominance of the Vegetables segment in the Hydroponics market is attributed to the increasing consumer demand for fresh, locally grown, and pesticide-free vegetables, prompting growers to adopt hydroponic systems that offer efficient resource use, controlled environments, and year-round production for a diverse range of vegetables.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

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