Sat, 09 Dec 2023

According to the recent FMI report, the hydroponics market size is anticipated to cross a value of US$ 58.1 Billion in 2032, growing at a CAGR of 16.2% approximately between 2022 and 2032.

A significant driver of the hydroponics market is the emerging trend for exotic vegetables for use in intercontinental cuisines. This is due to consumers' growing preference for natural and chemical-free food products. This factor accelerates the global hydroponics market growth. The developing world is focusing on technological developments to increase production and push demand for hydroponic-based products.

Ask for Report Sample@

Future hydroponics market growth may also be aided by rising consumer knowledge of the benefits of eating fresh veggies. During the projection year, sales are expected to increase due to the desire for exotic vegetables like red and yellow capsicum and red lettuce in fast food and retail chains like Burger King and KFC.

Since climatic changes have little effect on such systems, crops can be grown all year, increasing annual output. Salad crops are also becoming more popular, and the growing need for food security may drive global hydroponics market growth. The primary factor driving the growth of the global hydroponics market is people's shifting preferences for hydroponics as profit farming. Certain constraints and challenges will stymie overall hydroponics market growth.

Furthermore, with rapid urbanisation, the demand for hydroponically grown vegetables and crops has increased from a variety of industries, including hotels, restaurants, fast food chains, railway catering, NGOs, and defence, encouraging farmers to cultivate using hydroponics systems.

Key Takeaways from the Hydroponics Market Study:

  • The focus of the developing world is on creating technological innovations that will speed up production and increase consumer demand for products made in hydroponic systems.
  • When planted under same conditions, the hydroponic plant grows 3050% quicker than a soil plant.
  • Given that the technique is very effective in accelerating vegetable crop growth, the use of hydroponics in the production of vegetable crops is expected to stay high during the forecast period.
  • A basic system that is not fully automated can run up to US$ 110,000 for a hydroponic farm that is 500 square feet in size.

Use promo code ->> FMITODAY to get flat 20% discount

Due to customers' greater spending power as a result of health concerns, the demand for vegetables and exotic fruits has been steadily increasing at a faster rate. Due to the fact that the majority of these products are imported, their prices are exorbitant. In order to increase the production of exotic fruits and vegetables and satisfy the rising demand, various research institutions and colleges are concentrating on setting up more straightforward hydroponics systems.

Regional Viewpoint

Increasing efforts to expand the area under commercial hydroponic systems in Europe are expected to aid hydroponics market growth. The Asia Pacific hydroponics market is expected to grow at the fastest rate due to the increasing use of hydroponics in countries.

Australia is the world's largest producer of hydroponic lettuce, and its hydroponic strawberry cultivation exceeds that of the United States. The hydroponic market is expected to grow at a rapid pace in countries where land with poor soil quality is increasing.

The Middle East and Africa hydroponics market is expected to grow rapidly, owing to the presence of countries such as Israel, where hydroponics is being used to produce a variety of citrus fruits, berries, and other commercial crops.

Talk to an Expert@

Landscape of Competition

The global hydroponics input provider market is consolidated, with major layers accounting for the lion's share of the hydroponics market. Koninklijke Philips N.V., Argus Control Systems Ltd., American Hydroponics, Hydrodynamics International, Inc., and Lumigrow, Inc. are some of the market's major players.

The market for hydroponic systems output is highly fragmented, with the top five companies, which include Bright Farms, Inc., FreshBox Farms, Pegasus Agritech, Village Farms International, Inc., and Thanet Earth, among others, accounting for only 7.1% of the market, while the rest is split among numerous players.

Get Valuable Insights into Hydroponics Market

FMI, in its new offering, provides an unbiased analysis of Hydroponics Market presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the demand for Hydroponics based on Type (Aggregate Systems, Liquid Systems) by Equipment (HVAC, Control Systems, LED grow Lights, Irrigation Systems, Material Handing and Others) by Input (Nutrients, Rockwool) by Crop Type (Vegetables, Herbs, Fruits, Flowers) by Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa )

About the Food & Beverage Division at Future Market Insights

Expert analysis, actionable insights, and strategic recommendations - the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.

Explore FMI's Other Extensive Reports of Food & Beverage:

North America Organic Fertilizers Market Share : As per FMI, Canada is expected to contribute over 31.2% of the market share in North America in 2021, while the U.S. organic fertilizers market will register growth at 7.1% CAGR through 2031.

Organic Fruit Powder Market Size : The market for organic fruit powder is segmented by fruit type, by process type, and by end-use

Fresh Organic Chicken Market Growth : The European region is estimated to have the largest market share by volume due to the presence of vast number of organic meat growers and eaters in the European countries.

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

Unit No: 1602-006

Jumeirah Bay 2

Plot No: JLT-PH2-X2A

Jumeirah Lakes Towers-


​United Arab Emirates

For Sales Queries:

Browse All Report:

LinkedIn| Twitter| Blogs

The post Worldwide Hydroponics Market is Estimated to Develop at a CAGR of 16.2% over the Forecast Period-2032 appeared first on Future Market Insights.

Original Source of the original story >> Worldwide Hydroponics Market is Estimated to Develop at a CAGR of 16.2% over the Forecast Period-2032

This content is published on behalf of the above source. Please contact them directly for any concern related to the above.

This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

More Charlotte News

Access More

Sign up for Charlotte News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!