Global Hydroponics Market Size to Touch USD 20.41 Billion By 2032

The Global Hydroponics Market Is Projected to Touch Around USD 20.41 billion by 2032 From USD 2.87 billion in 2022, Increasing at A CAGR Of 21.9% From the Forecast Period 2023-2032.

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Global Hydroponics Market shows that the industry is experiencing rapid growth due to several factors, including the increasing demand for fresh and pesticide-free food, the growing awareness of the benefits of sustainable agriculture, and the rising population and reduction in arable land.

In recent years, hydroponic farming, a revolutionary way of growing plants without soil and using nutrient-rich water solutions, has gained popularity. The technique has a number of benefits over conventional soil-based farming, including faster growth rates, the best possible resource utilisation, and the capacity to grow crops in a variety of environmental circumstances.

According to the report, the major drivers of the hydroponic Market are the increasing demand for high-quality and locally grown produce, the need for sustainable food production systems, rising need to increase agricultural productivity. However, the lack of awareness among the farming groups regarding hydroponics and high initial investment and maintenance cost are the key restraints hindering the market progress globally.

Report Scope of the Hydroponics Market

Segmental Overview

By Types: Hydroponics is the most commonly used technology and involves growing plants in nutrient-rich water without soil. Due to their extensive adoption among all indoor hydroponic farmers and affordability, aggregate systems held the largest market share in 2020, accounting for over 56% of total sales. The liquid systems segment is projected to develop at the fastest CAGR from 2023 to 2032, due to the growing popularity of closed system cultivation among cultivators. 

Crop Type: The Crop segment includes into vegetables, fruits, flowers, others. In 2022, vegetables segment was the greatest revenue-generating segment, accounting for a sizable portion of total revenue. The vegetable segments are further segmented into tomatoes, cucumber, leafy vegetables, bell pepper, and others. The tomatoes segment dominated the market with a share of more than 45% of the total market share in 2022. because of the faster cultivation rate and as it needs less amount of water compared to regular farmed tomatoes, Tomatoes are the largest hydroponically cultivated crops across the globe. 

Regional Overview

Europe is predictable to account for the leading position in the global hydroponics market on account of the high adoption of the crop production technique across prominent European countries, such as France, Germany Netherlands, and Spain. North America is probable to be the important market. Rising urban population and commercialization of inside farming are anticipated to motivation the demand.

The Asia Pacific region has the major market share. Also, the Asia-Pacific region is expected to grow at the fastest rate due to the increasing demand for fresh produce in densely populated cities and government initiatives to promote sustainable agriculture. However, the lack of government inspirations and the absence of essential equipment to set up big hydroponic farms is projected to hamper the growth in developing countries from the Middle East, Africa, and South America.

List of Key Players in Global Hydroponics Market:

• AeroFarms
• Emirates Hydroponics Farms
• Heliospectra AB
• Signify Holdings
• Terra Tech Corp
• American Hydroponics
• Scotts Miracle-Gro
• Argus Control Systems Ltd.
• LumiGrow
• Green Sense Holdings
• Urban cultivator
• Freight Farms

Hydroponics Market Segment as Follows:

By Types

• Aggregate Systems
• Liquid Systems

By Crops

• Vegetables

• Tomatoes
• Lettuce
• Peppers
• Cucumbers
• Herbs

• Fruits
• Flowers
• Others

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