NEW
YORK, July 19, 2024 /PRNewswire/ -- The global
hydroponics technologies market size is estimated to grow by
USD 737.5 million from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of almost 17.38% during the forecast
period. Facilitation in soil and space-saving is
driving market growth, with a trend towards increase in
offering of advanced hydroponic growing systems. However, high
investment cost of hydroponics technologies poses a
challenge. Key market players include AmHydro, Argus Control
Systems Ltd., Brio Agri Producer Co. Ltd., Cox Enterprises Inc.,
Fork Farms, Greentech Organic Hydroponics Systems Mfrs., GrowLife
Inc, Hawthorne Gardening Co., Heliospectra AB, Hortisystems UK
Ltd., Hydrodynamics International Inc., Koninklijke Philips N.V.,
KUBO TUINBOUWPROJECTEN BV, LOGIQS B.V., MSc on smArt Agriculture
TECHnologies, Nutrifresh Farm Tech India Pvt. Ltd., Rise
Hydroponics, Thanet Earth Ltd., Valoya Oy, and Village Farms
International Inc..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Technology (Environment
and climate control systems, Grow lights, Farm management systems,
and Material handling systems), Type (Aggregate system and Liquid
system), and Geography (Europe, APAC, North America, South America,
and Middle East and Africa)
|
Region
Covered
|
Europe, APAC, North
America, South America, and Middle East and Africa
|
Key companies
profiled
|
AmHydro, Argus Control
Systems Ltd., Brio Agri Producer Co. Ltd., Cox Enterprises Inc.,
Fork Farms, Greentech Organic Hydroponics Systems Mfrs., GrowLife
Inc, Hawthorne Gardening Co., Heliospectra AB, Hortisystems UK
Ltd., Hydrodynamics International Inc., Koninklijke Philips N.V.,
KUBO TUINBOUWPROJECTEN BV, LOGIQS B.V., MSc on smArt Agriculture
TECHnologies, Nutrifresh Farm Tech India Pvt. Ltd., Rise
Hydroponics, Thanet Earth Ltd., Valoya Oy, and Village Farms
International Inc.
|
Key Market Trends Fueling Growth
Hydroponics technology vendors offer diverse growing systems,
including lighting, benching, ventilation, irrigation, screening,
and control systems from Hortisystems UK Ltd. Another example is
AmHydro's nutrient film technique systems, which ensure uniform
crop production, cleanliness, and space optimization. Notably, NFTs
utilize closed-loop irrigation, conserving water for growers. These
advancements enhance yield, potentially driving the global
hydroponics market's expansion during the forecast
period.
The Hydroponics Technologies Market is experiencing significant
growth, particularly in the areas of HVAC systems, fans, and
ventilation for effective climate control. Irrigation systems and
control systems ensure precise nutrient delivery, while rails,
lights, and setup costs remain key considerations for startups like
Easy Urban Garden. Certification for organic production is a trend,
with deep water culture (DWC) systems using nutrient-rich water
gaining popularity among home growers. HVAC, fans, and irrigation
systems contribute to higher setup costs, while recurring costs
include energy for lights and nutrients like nitrogen, phosphorus,
and potassium. Macronutrients maintain plant health, preventing
issues such as discoloration, stunted growth, and scattered spots
during the vegetative stage and foliage production. The fruits
segment, including berries like strawberries, blueberries,
cranberries, and raspberries, is a growing area in greenhouse crop
production. Companies like Signify Holding, Artechno, Philips
GreenPower, and Indoor cultivation are leading innovators in this
space, particularly in the cannabis industry. Storage containers,
buckets, rafts, waterbeds, Styrofoam, and water culture systems are
essential components of hydroponic setups.
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Market Challenges
- Hydroponics technologies are essential for indoor and vertical
farming, involving various systems such as nutrient film technique,
deep water culture, and aeroponics. The initial investment for
setting up an indoor farm using hydroponics technologies is
significantly higher than traditional farming methods, such as
greenhouses. An indoor farm with a 10-tier setup can cost between
USD4,500 to USD5,000 per square meter, which is approximately
15 times the cost of a greenhouse equipped with basic necessities
like heaters, ventilators, and thermal screens. The return on
investment to cover the initial investment takes around 5 to 7
years. Consequently, the high investment cost may hinder the growth
of the global hydroponics technologies market during the forecast
period.
- The Hydroponics Technologies Market faces several challenges,
including diseases, climate change, and environmental regulations.
These factors require continuous innovation to ensure healthy crop
growth and sustainability. With the World's population projected to
reach 9.7 billion by 2050, year-round production and higher yields
are essential. LED grow lights, a lighting technology, offer energy
efficiency and customizable light spectrums, extending the growing
season and increasing crop volumes. Hydroponics is ideal for
high-value organic crops like fruits, herbs, and leafy vegetables,
even in limited land resources. Indoor farming, including vertical
farming, is a growing application sector, especially for home
gardeners and professional growers. Energy efficiency, lifespan,
and crop type are crucial considerations when choosing between LED
grow lights, high-pressure sodium (HPS), and metal halide lamps.
Supermarkets and restaurants seek hydroponically grown produce for
productivity and consistent environmental conditions. Despite
challenges, hydroponics offers opportunities to meet the demands of
an expanding population and changing climate while reducing water
usage compared to traditional agriculture systems. Commercial
hydroponic growers must navigate energy requirements and equipment
costs to maximize profits.
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challenges - Download a Sample Report
Segment Overview
This hydroponics technologies market report extensively covers
market segmentation by
- Technology
- 1.1 Environment and climate control systems
- 1.2 Grow lights
- 1.3 Farm management systems
- 1.4 Material handling systems
- Type
- 2.1 Aggregate system
- 2.2 Liquid system
- Geography
- 3.1 Europe
- 3.2 APAC
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Environment and climate control systems- The
hydroponics technologies market is experiencing significant growth
due to the increasing demand for sustainable and efficient
agricultural practices. These systems allow plants to grow without
soil, using nutrient solutions instead. This method conserves
water, reduces the use of pesticides, and allows for year-round
production. Major players in the market include Nufarm, General
Hydroponics, and BrightAgro. Companies invest in research and
development to improve yields and create cost-effective solutions.
The market is expected to continue expanding due to its numerous
benefits for farmers and consumers alike.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global vertical farming technologies market is experiencing
rapid growth, driven by increasing urbanization and demand for
sustainable agriculture. Vertical farms utilize innovative
techniques like hydroponics and aeroponics to grow crops in
controlled environments, minimizing water usage and maximizing land
efficiency. The global smart agriculture market integrates IoT, AI,
and data analytics to enhance farming efficiency. It includes
precision farming techniques such as sensors and drones to monitor
crops, soil conditions, and livestock health in real-time,
optimizing yields and resource utilization. The global floriculture
market continues to expand with rising demand for ornamental plants
and flowers worldwide. Key trends include sustainable practices,
hybrid varieties, and increasing online sales, driven by growing
consumer interest in floral aesthetics and gifting.
Research Analysis
Hydroponics, a revolutionary farming technology, allows the
growth of plants without soil, using mineral solutions instead.
This method is gaining popularity due to its ability to produce
organic foods in an alternative farming system, making it ideal for
consumers seeking fresh, nutritionally superior vegetables and
leafy greens, even in climatic changes. Hydroponics offers higher
yields, using less water and resources compared to traditional
agriculture. Home gardeners and professional growers alike benefit
from its operational simplicity. Indoor cultivation enables
year-round production, particularly for temperature-sensitive crops
like cannabis and marijuana. However, the use of artificial
ripening agents and mineral solutions raises concerns for some
consumers. The debate continues between hydroponics and traditional
farming methods, with each having its advantages and disadvantages.
Ultimately, the choice depends on individual preferences,
resources, and sustainability considerations.
Market Research Overview
Hydroponics technology is revolutionizing the agriculture
industry by providing an alternative to traditional farming
methods, particularly for producing organic foods in urban areas.
Consumers are increasingly demanding fresh, local produce, leading
to a growing interest in hydroponics for leafy greens, vegetables,
and even fruits. This sustainable option uses water and fertilizers
instead of agricultural land and chemicals, making it an attractive
solution for addressing water resources and land shortages.
However, hydroponic farming requires significant investment in
hydroponic equipment and expertise, limiting its accessibility for
smaller farmers. Hydroponic systems, including NFT, DWC, and ebb
and flow, can be set up in various locations such as rooftops,
warehouses, and shipping containers, reducing transportation and
logistics costs. Year-round harvesting is possible with
hydroponics, minimizing food wastage and providing a consistent
supply of fresh produce. Despite the high initial investment and
expertise required, hydroponics offers higher yields and year-round
production, making it an attractive option for high-value organic
crops like herbs, leafy vegetables, and even fruits. Hydroponic
systems can be used for both indoor and outdoor farming, with LED
grow lights and energy-efficient lighting technologies like
high-pressure sodium (HPS) and metal halide lamps enhancing crop
growth. However, hydroponics also faces challenges such as pests,
diseases, and environmental regulations, as well as concerns
regarding water usage and carbon footprint. Climate change and the
limited availability of arable land further highlight the need for
sustainable agricultural solutions like hydroponics. The world's
population continues to grow, increasing the demand for fresh,
organic produce, creating significant market opportunities for
hydroponics technologies. In summary, hydroponics offers a
sustainable alternative to traditional farming methods, providing
fresh, organic produce year-round with higher yields. However, it
requires significant investment and expertise, and faces challenges
related to pests, diseases, and environmental regulations. Despite
these challenges, the growing demand for local, organic produce and
the limited availability of arable land make hydroponics a
promising solution for addressing the world's agricultural
needs.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Technology
-
- Environment And Climate Control Systems
- Grow Lights
- Farm Management Systems
- Material Handling Systems
- Type
-
- Aggregate System
- Liquid System
- Geography
-
- Europe
- APAC
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
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technologies, spanning across 50 countries. Their client base
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Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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