Global Hydroponics Market Set to Surge | Opportunities, Future Demands and Key Players

A recent research report published by MarketsandMarkets unveils promising projections for the global hydroponic system market. Valued at USD 12.1 billion in 2022, this market is forecasted to escalate to USD 25.1 billion by 2027. Similarly, the hydroponics crop market, estimated at USD 37.7 billion in 2022, is anticipated to soar to USD 53.4 billion by 2027, reflecting a notable Compound Annual Growth Rate (CAGR) of 7.2%. The surge is attributed to the rise of indoor farming, catalyzing advancements in artificial lighting technologies, particularly LED, known for its energy efficiency and longevity.

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Dominance of Liquid Systems and LED Grow Lights

The liquid systems segment claims the lion's share in the global hydroponics market, with notable popularity in systems like deep water culture, NFT, and aeroponics. Among equipment, LED grow lights reign supreme, offering diverse spectra to stimulate plant growth. This technology revolutionizes indoor farming, enhancing opportunities for growers worldwide.

Nutrients Propel Growth

In the realm of inputs, the nutrients segment takes precedence, emphasizing the critical role of nutrient concentration and trace elements in optimizing plant growth. Harnessing nutrient catalysts, such as trace minerals, accelerates plant development, amplifying yield and quality.

Vegetables Lead the Crop Type Segment

Vegetables emerge as the dominant crop type in the hydroponics market, enabling growers to cultivate tomatoes, leafy greens, cucumbers, and more under controlled conditions. Shielded from environmental adversities, hydroponically grown vegetables thrive, offering growers unparalleled control over cultivation variables.

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Key players:

ScottsMiracle-Gro (US), Triton Foodworks Pvt. Ltd. (India), Green Sense Farms (US), Emirates Hydroponic Farm (UAE), Gotham Greens (US), Hydrodynamics International (US), American Hydroponics (US), Advanced Nutrients (US), Emerald Harvest (US), VitaLink (UK), Freight Farms (US), AeroFarms (US), Nature's Miracle (India), Bright Farms (US), InFarm (Germany), Badia Farms (UAE), Argus Control Systems (Canada), Logiqs B.V. (Netherlands), LumiGrow, Inc. (US), Hydroponic Systems International (Spain), Signify Holding (Netherlands), and Heliospectra AB (Sweden).

Regional Insights: Europe Takes the Lead

Europe commands the largest share of the global hydroponics market, propelled by greenhouse agriculture and the influx of European players offering cutting-edge hydroponic technologies. North America follows suit, leveraging existing infrastructure and embracing modern farming techniques. Meanwhile, Asia Pacific experiences exponential growth, driven by urban demand for fresh produce and government support through subsidies for hydroponic ventures.

With the convergence of technological innovation and agricultural sustainability, the global hydroponics market sets a robust trajectory, promising a greener, more efficient future for farming.

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Deep-Water Culture Hydroponics Market:

Deep-water culture (DWC) hydroponics is a method of growing plants where the roots are suspended in a nutrient solution rather than soil. In this system, plants are typically placed in containers, such as buckets or troughs, with their roots submerged in a nutrient-rich solution that is oxygenated. The roots have constant access to water, nutrients, and oxygen, promoting rapid and healthy growth.

Hydroponic farming continues to grow due to its potential for higher yields, efficient resource use, and reduced environmental impact, the market for DWC hydroponics is also expanding. Growers ranging from hobbyists to commercial operations are adopting DWC systems for cultivating a variety of crops, including leafy greens, herbs, and some fruiting plants.

Factors driving the growth of the deep-water culture hydroponics market include increasing awareness of the benefits of soilless farming, advancements in hydroponic technology, and the demand for fresh, locally grown produce. Additionally, the scalability and adaptability of DWC systems make them suitable for a wide range of applications, from small-scale home gardens to large-scale commercial operations.

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This release was published on openPR.