The hydroponic market is expected to grow significantly in the coming years due to the increasing demand for locally grown, fresh produce and the need for sustainable agricultural practices. This growth can be attributed to factors such as technological advancements, government support, and the rising adoption of hydroponic systems by commercial growers.
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The hydroponic market is projected to experience remarkable growth in the coming years, driven by various factors such as the increasing demand for locally grown, fresh produce and the need for sustainable agricultural practices. This trend can be attributed to technological advancements, government support, and the rising adoption of hydroponic systems by commercial growers.
According to a renowned resource in the agriculture industry, “Hydroponics is revolutionizing the way we grow plants, providing a sustainable and efficient solution for agriculture.” This highlights the growing importance of hydroponics in modern farming practices.
Here are some interesting facts to further enhance our understanding of the hydroponic market:
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Market Size: The global hydroponic market was valued at USD 8.08 billion in 2020 and is projected to reach USD 16.03 billion by 2026, with a CAGR of 12.9% during the forecast period.
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Technological Advancements: The advent of advanced technologies such as vertical farming, IoT integration, and LED lighting systems has significantly improved the efficiency and productivity of hydroponic systems.
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Sustainability: Hydroponics offers a sustainable solution for agriculture by minimizing water usage (around 90% less water compared to traditional soil farming), reducing the need for pesticides, and enabling year-round cultivation in controlled environments.
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Shift towards Local Produce: The rising demand for locally grown food, driven by factors like increased awareness of food safety and environmental concerns related to long-distance transportation, is a key driver for the hydroponic market.
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Government Initiatives: Many governments worldwide are supporting hydroponic farming through subsidies, incentives, and research funding. These initiatives aim to promote sustainable agriculture and reduce the reliance on imported produce.
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Growing Popularity among Commercial Growers: Hydroponic systems are being increasingly adopted by commercial growers, including large-scale greenhouse operations and vertical farms. This shift is driven by the desire for higher yields, increased crop diversity, and the ability to control growing conditions.
Table: Key Factors Driving Hydroponic Market Growth
| Factors | Impact |
|---|---|
| Technological Advancements | Improve efficiency and productivity of hydroponics systems |
| Government Support | Encourages adoption through subsidies and incentives |
| Shifting Consumer Demand | Increasing preference for locally grown, fresh produce |
| Sustainability | Conserves water, reduces pesticide use, and enables year-round cultivation |
| Commercial Adoption | Growing popularity among commercial growers for higher yields and controlled growing conditions |
In conclusion, the hydroponic market is poised for significant growth in the coming years. The increasing demand for locally grown, sustainable produce, coupled with technological advancements and government support, will be the driving forces behind this expansion. Hydroponics provides a viable solution to address the challenges of traditional agriculture and offers numerous benefits for both growers and consumers.
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The Global Hydroponics Market Size was valued at USD 11.8 Billion in 2022 and the Worldwide Hydroponics Market Size is expected to reach USD 41.8 Billion by 2032, according to a research report published by Spherical Insights & Consulting. Companies Covered: Triton Foodworks Pvt.
The hydroponics market refers to the sales of hydroponics solutions, which are methods of growing plants on a water-based, nutrient-rich solution without soil. The market is classified into aggregate systems and liquid systems, with the former providing a support medium for the crops and the latter not. The market is expected to reach USD 13.4 billion by 2027, with a CAGR of 10.53% to 19.2%, driven by factors such as increasing global population, rising usage of hydroponics for indoor agriculture, growing advent of alternate yielding options, and legalization of seeds like marijuana in some countries.
The hydroponics market consists of sales of hydroponics solutions by entities (organizations, sole traders, and partnerships) that refers to the method of growing plants on a water-based, nutrient-rich solution.This approach allows roots to absorb nutrients from the water and meet their growth needs. Furthermore, this
Hydroponics Market is valued at USD 8.96 Billion in 2018 and expected to reach USD 18.00 Billion by 2025 with the CAGR of 10.53% over the forecast period. Increasing global population, rising usage of hydroponics for indoor agriculture for fruits and vegetables, growing advent of alternate yielding options, legalization of
Hydroponics market is also classified on the basis of system type, such as aggregate hydroponics systems and liquid hydroponics system. The aggregate hydroponics system is segmented into closed and open systems, where the closed system is furthermore classified as water culture system, EBB and flow system, drip systems, and
Hydroponics Market was worth USD 289.62 million in 2021 and is expected to reach USD 678.47 million by 2027 with a CAGR of 16.8 %. Hydroponics is a soilless cultivating technique used to create high return crops. It is a part of hydroculture, which utilizes mineral arrangements and supplements to develop different plants.
The Global Hydroponics Market size is expected to reach $13.4 billion by 2027, rising at a market growth of 19.2% CAGR during the forecast period. Hydroponic farming is a practice of growing without soil in which a mineral solution is introduced all around plant roots to substitute the earth. The plant roots are soaked in the
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The residential market for hydroponics in India has seen a 50% growth since the lockdown, as individuals turn to this technology to produce their own vegetables conveniently and cost-effectively. Hydroponics, which uses 80% less water and yields higher results compared to traditional farming, offers solutions to India’s food security and ecological problems. Companies like Veggie Culture and Barton Breeze have led the way in setting up large-scale hydroponic farms, while research, cutting-edge technology, and innovations drive the industry forward. Despite challenges such as lack of data, pest control issues, and difficulty in accessing government subsidies, the industry remains optimistic about its future in India. As concerns about climate change and water scarcity continue to rise, hydroponics is seen as a promising solution with significant water savings and a reduced carbon footprint.
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Also Know, What is the expected market trend for hydroponics?
As a response to this: Valued at an estimated USD 9.5 billion, the hydroponics market is expected to grow at a compound annual growth rate of 11.3%, reaching a total value of USD 17.9 billion by 2026. According to the United Nations, the global population is expected to reach 9.7 billion by 2050.
Correspondingly, Is the hydroponic industry growing? The market size, measured by revenue, of the Hydroponic Crop Farming industry was $795.2m in 2022. What was the growth rate of the Hydroponic Crop Farming industry in the US in 2022? The market size of the Hydroponic Crop Farming industry increased 8.6% in 2022.
What is the outlook of hydroponics?
The global hydroponics system market in terms of revenue was estimated to be worth $12.1 billion in 2022 and is poised to reach $25.1 billion by 2027, growing at a CAGR of 15.6% from 2022 to 2027.
One may also ask, What is the demand for hydroponics? Report Overview. The global hydroponics market size was valued at USD 2.1 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 20.7% from 2021 to 2028. This high growth rate is attributed to the increasing use of hydroponic systems for the indoor farming of vegetables.
Additionally, What is the growth rate of hydroponics market? What is the growth rate for the Hydroponics Market? Hydroponics Market size will grow at approx. CAGR of 20.3% during the forecast period. Who are the prominent players in the Hydroponics Market?
What are the primary sources of the hydroponics market? The primary sources from the demand side include retailers, wholesalers, and other distribution partners. The key players were identified through extensive primary and secondary research. The value chain and market size of the hydroponics market, in terms of value, were determined through primary and secondary research.
In this regard, Can hydroponics be profitable?
Slow-growing grains and vegetables earn less in commercial hydroponics. Also, growing restrictions are one of the leading market restraints. Tomatoes, lettuce, and microgreens are popular crops. Some of the profitable crops include strawberries and dwarf basil, classic sweet basil, and Genovese basil.
Correspondingly, What is a hydroponic crop?
Answer will be: The current hydroponic crop model only considers high-value, quickly growing, low-impact, and quick-turnover crops, like lettuce and basil. Slow-growing grains and vegetables earn less in commercial hydroponics. Also, growing restrictions are one of the leading market restraints. Tomatoes, lettuce, and microgreens are popular crops.
What is the global hydroponics market size?
The global hydroponics market size was valued at USD 2.1 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 20.7% from 2021 to 2028. This high growth rate is attributed to the increasing use of hydroponic systems for the indoor farming of vegetables.
Furthermore, What are the primary sources of the hydroponics market?
Answer will be: The primary sources from the demand side include retailers, wholesalers, and other distribution partners. The key players were identified through extensive primary and secondary research. The value chain and market size of the hydroponics market, in terms of value, were determined through primary and secondary research.
Regarding this, Why is the hydroponics market so slow?
Answer: Slow market penetration is due to farmers’ lack of hydroponics knowledge and adoption. Due to high costs, farmers and others find it challenging to use hydroponic farming. Using synthetic fertilizers and crop protection chemicals has hurt the hydroponics market.
Secondly, Who are the major hydroponics market players in North America?
Response: Some of the prominent market players in North America include AeroFarms (U.S.), AMHYDRO (U.S.), Argus Control Systems Limited (Canada), and LumiGrow (U.S.). Europe held the second-largest market share in 2020, owing to the high adoption of hydroponics driven by rapid industrialization and scarcity of land.