Global hydroponics market size reached USD 2.56 billion in 2021 and is expected to register a revenue CAGR of 19.2% during the forecast period, according to latest analysis by Emergen Research. Independent of external climatic conditions and rise in desertification are expected to support market revenue growth between 2022 and 2030.
In addition, rapid change in climate due to global warming had adversely impacted weather patterns giving rise to erratic rainfall, drought, and desertification, thereby declining agricultural productivity. This has led to an increase in global demand for food and therefore has led to rising demand for alternative farming practices such as hydroponics, which is expected to propel revenue growth of the market further.
Rise in desertification is a significant factor that is expected to increase demand for hydroponics. Desertification leads to persistent degradation of land by climatic variations and human activities and negatively impacts agriculture output. Countries with rising populations are facing a rapid increase in desertification. For instance, according to Desertification and Land Degradation Atlas of India published in June 2021 by the Space Applications Centre (SAC), Ahmedabad, around 97.85 million hectares (mha) of India’s Total Geographical Area (TGA) of 328.72 mha underwent land degradation during 2018-19, and about 83.69 million hectares (mha) of land underwent desertification in 2018-19 which was more significant than the 81.48 million hectares (mha) in 2003-2005 and 82.64 million hectares (mha) in 2011-13. This is expected to increase demand for hydroponics systems and significantly propel market revenue growth.
The most significant advantage of hydroponics is that it is independent of external climatic conditions. Hydroponics practices are carried on in confined greenhouses wherein internal conditions are regulated using sensors and control systems. This facilitates adoption of hydroponics in areas with water scarcity and areas with infertile soil conditions. In addition, adoption of hydroponics is expected to reduce government expenditure on large irrigation projects. This is expected to boost revenue growth hydroponics market.
However, cost of setting up hydroponic apparatus is significantly higher and requires proper planning and technical expertise. Additionally, lack of awareness about alternative farming practices is another factor restraining growth of hydroponic market.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the hydroponics market. Also, to arrive at an accurate and unbiased market forecast, data collected from secondary research sources have been analyzed and validated through primaries.
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The market scope for the new entrants and established companies has been assessed using various analytical tools, including the SWOT analysis, investment assessment, and Porter’s Five Forces analysis. Furthermore, into the study, the authors of the report have evaluated the financial standing of leading companies operating in the industry. They have provided crucial information on gross profits, revenue shares, sales volume, manufacturing costs, individual growth rate, and numerous other financial ratios of these competitors. The Hydroponics market analysis is largely focused on leading market players. Our analysts have provided information on financial statements of these players, product benchmarking, and their key business development strategies.
The leading market contenders listed in the report are:
AeroFarms, LLC, AmHydro, Argus Control Systems Limited, Emirates Hydroponics Farms, Freight Farms, Inc., Green Sense Farms Holdings, Inc., Heliospectra AB, LumiGrow, Inc., Signify Holding B.V., and Hydrofarm LLC.
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The global Hydroponics market has been categorized on the basis of product type, application gamut, end-user industries, and the competitive hierarchy. The report inspects the current market scenario, its past performance, demand and supply ratios, production and consumption rates, sales, and numerous growth opportunities available in the market. It further entails a clear outline of the market’s intensely competitive atmosphere to help businesses and industry stakeholders decipher the optimal business moves and achieve their business goals.
Segments Covered in this report are:
Emergen Research has segmented the global hydroponics market on the basis of type, crops, equipment, and region:
- Type Outlook (Revenue, USD Billion, 2019–2030)
- Aggregate Systems
- Open System
- Closed System
- Liquid Systems
- Aggregate Systems
- Crops Outlook (Revenue, USD Billion, 2019–2030)
- Vegetables
- Fruits
- Herbs
- Equipment Outlook (Revenue, USD Billion, 2019–2030)
- Heating Ventilation and Air Conditioning (HVAC)
- Light-emitting Diode (LED)
- Grow Lights
- Irrigation Systems
- Material Handling Equipment
- Control Systems
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Geographical Analysis:
The report offers a comprehensive analysis of the current growth prospects for the regional segments of the Hydroponics market. It further gauges their revenue share for the forecast period. Furthermore, the report analyzes the year-on-year growth rate of the market in these regions for the forecast period. The leading geographic regions covered in this report are as follows:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Points of the Geographical Analysis:
- Data and information related to the consumption rate in each region
- Estimated increase in the consumption rate
- Proposed growth of the market share of each region
- Geographical contribution to market revenue
- Expected growth rate of the regional markets
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Table of Contents:
Report Overview: It includes the objectives and scope of the study and gives highlights of key market segments and players covered. It also includes years considered for the research study.
Executive Summary: It covers industry trends with high focus on market use cases and top market trends, market size by regions, and global market size. It also covers market share and growth rate by regions.
Key Players: Here, the report concentrates on mergers and acquisitions, expansions, analysis of key players, establishment date of companies, and areas served, manufacturing base, and revenue of key players.
Breakdown by Product and Application: This section provides details about market size by product and application.
Regional Analysis: All of the regions and countries analyzed in the report are studied on the basis of market size by product and application, key players, and market forecast.
Profiles of International Players: Here, players are evaluated on the basis of their gross margin, price, sales, revenue, business, products, and other company details.
Market Dynamics: It includes supply chain analysis, analysis of regional marketing, challenges, opportunities, and drivers analyzed in the report.
Appendix: It includes details about research and methodology approach, research methodology, data sources, authors of the study, and a disclaimer.
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Some Key Highlights From the Report
- Liquid system segment revenue is expected to expand at a substantially rapid CAGR during the forecast period due to rising demand in the use of nutrient content mixed in flowing water and increasing demand for aquaponics
- Vegetable segment accounted for the largest revenue share over the forecast period due to increasing demand for alternative farming practices in order to cultivate vegetables
- North America is expected to register a steady revenue growth rate in hydroponics market over the forecast period than other regional markets due to robust presence of international and domestic enterprises provided hydroponics products such as AeroFarms, LLC, AmHydro, Argus Control Systems Limited, Freight Farms, Inc., Green Sense Farms Holdings, Inc., among others in countries in the region
- In April 2020, AeroFarms, LLC built a 90,000 square foot indoor vertical farm that will be the largest of its kind in the world in Abu Dhabi. The farm is dedicated to state-of-the-art research and development and commercialization of relevant local crops using AeroFarms expertise and proprietary vertical indoor growing technology that uses 95% less water and no pesticides than traditional field farming. This new research and development center will employ more than 60 highly qualified specialists.
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