With the emergence and long-term Impact of COVID-19, Global Hydroponics Market to reach USD 11.43 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Hydroponics Market is poised to raise up to USD 11.43 Billion by 2030. Hydroponics is a soilless method of cultivating plants; wherein mineral nutrient solutions are directly delivered to the plant roots in a controlled environment. This innovative agricultural technique allows for precise control over key factors such as nutrient levels, pH, and temperature, providing an optimal and stable growing environment.
By eliminating the need for soil, hydroponics offers several advantages, including efficient use of water, faster plant growth, and the ability to grow crops in locations with poor soil quality. The Hydroponics market is expanding because of factors such as increasing indoor cultivation of vegetables, growing food demand, and limited availability of cultivable land.
Geographically, the global Hydroponics market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific dominated the market in 2022 owing to the burgeoning population in the region, leading to an increased demand for sustainable and efficient agricultural practices, government initiatives promoting advanced agricultural technologies, coupled with a growing awareness of the benefits of soilless farming, further propel the hydroponics market in the Asia Pacific, creating a conducive environment for its sustained expansion. North America is expected to grow significantly during the forecast period, owing to factors such as growing adoption of alternative farming techniques in urban areas and presence of key market players in the region.
The global Hydroponics market is highly competitive owing to the presence of several key manufacturers such as BrightFarms, AmHydro, Argus Control Systems Limited, Emirates Hydroponics Farms, Freight Farms, Inc., AeroFarms, and others.
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Key findings of the study suggest:
- Global Hydroponics Market is anticipated to grow with a healthy growth rate of more than 11.9% over the forecast period 2023-2030.
- In the Type segment, Aggregate Systems emerged out as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth Owing to burgeoning population in the region, leading to an increased demand for sustainable and efficient agricultural practices, government initiatives promoting advanced agricultural technologies in the region.
- North America is expected to grow at higher rate followed by Asia Pacific during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
Type:
- Aggregate Systems
- Liquid Systems
Crop Type:
- Tomatoes
- Lettuce
- Peppers
- Cucumbers
- Herbs
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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