Hydroponics Market Developments: Major Collaborations

• Posted by Karls Scott November 19, 2024 Filed in Business #Hydroponics Market  17 views
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  In 2023, the global hydroponics market was valued at USD 5.00 billion and is forecasted to grow at a compound annual growth rate (CAGR) of 12.4% from 2024 to 2030. This substantial growth is primarily due to the increasing use of hydroponic systems for indoor vegetable cultivation and the rising adoption of alternative farming techniques for growing cannabis. The growing acceptance of cannabis cultivation is largely driven by the legalization of marijuana in countries like Canada, the Czech Republic, and South Africa. Additionally, heightened consumer awareness of the harmful effects of pesticides and artificial ripening agents on health is spurring demand for hydroponics, as this farming technique eliminates the need for such substances, enabling the production of more nutritious vegetables. The relatively low installation costs and operational simplicity of hydroponic systems further contribute to their adoption.

  Hydroponic farming involves cultivating plants without traditional soil by using a mineral nutrient solution surrounding the plant roots. In this method, the roots are immersed in a carefully monitored chemical solution that ensures the ideal composition for growth, reducing risks associated with soil-borne diseases. Compared to soil-based farming, hydroponic methods offer superior yield efficiency due to precise nutrient control.

  Gather more insights about the market drivers, restrains and growth of the Global hydroponics market

  Rising Demand Due to Population Growth:
  The global population is projected to reach 9.1 billion by 2050, necessitating a 25% to 70% increase in food production, according to the Food and Agriculture Organization (FAO) of the United Nations. This demand is driving the need for innovative farming technologies like hydroponics, which can deliver higher yields in shorter periods. In regions like Asia Pacific and Europe, where arable land and water resources are limited, the adoption of such technologies is rapidly increasing, contributing to market growth.

  Hydroponics Market Regional Insights:

  • Asia Pacific: The Asia Pacific region held the largest market share of 35.6% in 2023, driven by widespread adoption in countries like China, Australia, and South Korea. Urban hydroponic farming is a growing trend in China and India, supporting significant market expansion.

  • North America: North America exhibits strong growth potential, thanks to numerous companies innovating in hydroponic farming and increasing adoption in urban areas. Key players include AeroFarms, AMHYDRO, Argus Control Systems Limited, and LumiGrow.

  • Europe: Europe is expected to register the fastest CAGR of 13.6% during the forecast period, fueled by innovative hydroponic solutions that mitigate the limitations of traditional farming. Developed economies such as France, Germany, and the Netherlands are well-equipped to invest in advanced agricultural technologies, further accelerating growth.

  • Middle East & Africa: The hydroponics market in this region is set to grow as small-scale farmers and entrepreneurs adopt hydroponics to address food security challenges and generate sustainable income.

  Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

  • Cannabis Vertical Farming Market: The global cannabis vertical farming market size was estimated at USD 487.5 million in 2024 and is anticipated to grow at a CAGR of 19.3% from 2025 to 2030.

  • Aquaponics Market: The global aquaponics market size was estimated at USD 1,087.3 million in 2024, is projected to grow at a CAGR of 13.5% from 2025 to 2030.

  Key Companies and Innovations

  Prominent companies in the hydroponics market employ strategies like mergers, acquisitions, and partnerships to strengthen their market position. Key players include:

  • AeroFarms: Specializes in sustainable indoor agriculture, offering patented cloth media for hydroponics and leveraging technologies like data analytics and machine learning for optimal plant growth.
  • AmHydro: Provides complete hydroponic systems optimized for environmental control and resource efficiency.
  • Freight Farms: Known for its "Leafy Green Machine," a hydroponic farm within a shipping container for year-round cultivation.
  • Urban Crop Solutions: Focuses on end-to-end hydroponic and vertical farming solutions with automation and smart technologies.

  Key Hydroponics Companies:

  • AeroFarms
  • AmHydro
  • Argus Control Systems Limited
  • Emirates Hydroponics Farms
  • Freight Farms, Inc.
  • Heliospectra
  • Signify Holding
  • Nutrifresh India
  • UrbanKisaan

  Order a free sample PDF of the hydroponics market Intelligence Study, published by Grand View Research.