Hydroponics Market worth $2.33 billion by 2030, growing at a CAGR of 10.09% - Exclusive Report by 360iResearch

The "Hydroponics Market by Component (Environmental Control Systems, Growing Medium, Hydroponic Systems), Crop Type (Flowers, Fruits, Vegetables) - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Hydroponics Market to grow from USD 1.18 billion in 2023 to USD 2.33 billion by 2030, at a CAGR of 10.09%.

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The hydroponics market comprises systems and solutions that facilitate plant growth by utilizing nutrient-rich water solutions and aggregate substrates, such as vermiculite, coconut coir, or perlite. Hydroponics systems facilitate higher yields, reduce resource consumption, and efficiently cultivate space. Factors driving the growth of the hydroponics market include the increasing global population leading to a food demand-supply gap, diminishing arable land due to urbanization and soil degradation, and the rising need for sustainable agricultural practices with reduced water usage and environmental impact. The pharmaceuticals and nutraceuticals industry can utilize hydroponics systems for growing medicinal plants with standardized levels of active compounds. However, limitations and challenges hindering the growth of this market include high initial investment costs, limited crop variety suitable for hydroponic cultivation, increased energy consumption, and pest management issues in controlled environments. However, market players are incorporating automation technologies such as smart sensors, remote monitoring capabilities, AI, and machine learning algorithms into systems for optimizing resource management and expanding market growth. Furthermore, ongoing research activities for sustainable mediums, incorporating energy-efficient lighting innovations, and the emergence of biological control agents for eco-friendly pest management can overcome challenges and expand the market growth in the forecast period.

The hydroponics market is witnessing significant growth across various regions, including the Americas, Asia-Pacific (APAC), and Europe, Middle East & Africa (EMEA). Rapid urbanization, limited arable land, and the increasing demand for organic food are factors driving the adoption of hydroponic systems in the Americas. The United States Department of Agriculture (USDA) supports hydroponic farming through various initiatives such as farm loans and grants. In Canada, industry players, including Nutrien Ltd., have expanded their capacities by acquiring hydroponic nutrient solution providers. On the other hand, Europe has witnessed considerable growth in hydroponics adoption due to favorable government regulations that encourage sustainable agriculture. Water scarcity has accelerated the adoption of hydroponic systems in the MEA region. Middle Eastern nations such as UAE and Israel have made substantial investments in modern agricultural technologies. The APAC region has also witnessed a tremendous increase in hydroponic farming adoption due to increasing urbanization, population growth, and reduced arable land. In 2023, China's Ministry of Agriculture and Rural Affairs announced new policies supporting the development of modern agriculture systems such as hydroponics. Japan has also proactively embraced the technology with initiatives, including the "Farming for Future'' program. Additionally, promoting awareness and offering training programs about the benefits of hydroponics among farmers can further accelerate its acceptance.

Market Segmentation & Coverage:

This research report categorizes the Hydroponics Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Component, market is studied across Environmental Control Systems, Growing Medium, Hydroponic Systems, and Nutrient Solution. The Environmental Control Systems is further studied across Control Systems, HVAC, Irrigation Systems, LED Grow Light, and Material Handling. The Growing Medium is further studied across Coco Fiber, Perlite & Vermiculite, and Rockwool. The Hydroponic Systems is further studied across Aeroponics, Deep Water Culture, Drip System, Ebb and Flow, Nutrient Film Technique, and Wick System. The Nutrient Solution is further studied across NPK and Trace Minerals. The Nutrient Solution is projected to witness significant market share during forecast period.

Based on Crop Type, market is studied across Flowers, Fruits, and Vegetables. The Vegetables is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas is projected to witness significant market share during forecast period.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Hydroponics Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Hydroponics Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Hydroponics Market, highlighting leading vendors and their innovative profiles. These include 3Dponics Inc., Akarshak Hydroponics, AmHydro, Argus Control Systems Limited, Blue Mitten Farms, Bowery Farming Inc., BrightFarms, Inc., Brio Agri Producer Company Limited, CityCrop, Cropking Incorporated, CubicFarm Systems Corp., Emerald Harvest Ltd., Evogro Ltd., Farmshelf, Foshan GrowSpec BioTech Co., Ltd., Freight Farms, Inc., General Hydroponics, Gotham Greens Holdings, LLC, GroFlo Hydroponics, Grow Up Group Limited, GrowPura, Guangzhou Vanten Technology Co., Ltd., Hangzhou China Agrotime Agri-Tech Co., Ltd., Heliospectra AB, Hydra Unlimited, Hydrofarm Holdings Group, Inc., HydroGarden Ltd., Hydroponic System International, Infarm - Indoor Urban Farming B.V., Natufia Saudi Arabia LLC, New Growing System S.L., Nutrifresh Farm Tech India Private Limited, ScottsMiracle-Gro, Shandong Huijing Greenhouse, The Scotts Company LLC, Tianjin Yuanxintai Industry Co., Ltd., Triton Foodworks, Village Farms International Inc., Weifang Jianda Glassware Material Co., Ltd., and Xiamen Wellgain Greenhouse Engineering Co., Ltd..

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Hydroponics Market, by Component
7. Hydroponics Market, by Crop Type
8. Americas Hydroponics Market
9. Asia-Pacific Hydroponics Market
10. Europe, Middle East & Africa Hydroponics Market
11. Competitive Landscape
12. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Hydroponics Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Hydroponics Market?
3. What is the competitive strategic window for opportunities in the Hydroponics Market?
4. What are the technology trends and regulatory frameworks in the Hydroponics Market?
5. What is the market share of the leading vendors in the Hydroponics Market?
6. What modes and strategic moves are considered suitable for entering the Hydroponics Market?

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