The global hydroponics 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. Hydroponic systems or soil-less agriculture reduce the farmer’s consumption of resources, enabling this farming technique to be adopted by many stakeholders, ranging from home gardeners to professional growers and supermarkets to restaurants. According to the UN reports on the global population, in 2018, plants grown in hydroponic systems achieved a 20–25% higher yield than the traditional agriculture system, with its productivity being 2–5 times higher. Also, owing to their controlled environmental conditions, the effect of climatic changes can be balanced with the help of these systems, thereby not affecting the annual crop production.
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By type, the liquid systems segment is projected to grow at a higher CAGR in the hydroponics market during the forecast period
Deep water culture (DWC) is the easiest type of hydroponic system that one can build and maintain at home even. In this system, the plants grow with their roots submerged directly in nutrient-rich water. For home growers, this can be achieved by growing in large opaque storage containers or buckets. Commercial growers use rafts that float on a large waterbed; these work like a conveyor belt with young plants added on one side, moving along until ready for harvest on the other side. The platform that holds the plants is usually made of Styrofoam and floats directly on the nutrient solution.
By equipment, the LED grow light segment is anticipated to grow at the highest CAGR in the hydroponics market during the study period
Growers can experiment with light recipes to change the flavour, size, and potency of their produce when using spectrum changeable LED grow lights. The spectrum, intensity, and number of hours of exposure to light give tremendous control to growers. These aspects are all simple to regulate and modify when using spectrum changeable LED lighting. With LED lights, growers may control all these aspects, whether customers want a sweeter or milder flavour, a greater aroma, or a change in colour.
By crop type, the fruits segment is anticipated to grow at the highest CAGR in the hydroponics market during the forecast period
Different types of berries can be grown using hydroponics; strawberries are among the most common berries grown using hydroponic methods. Berries fundamentally require three primary nutrients—nitrogen, potassium, and phosphorus. Apart from that, the presence of calcium, magnesium, and sulfur in the water is also required to supplement the growth of berries in hydroponic conditions. The weight of the berries is not a deterrent and can be grown in a common rail system using the nutrient film technique or the ebb & flow system. The different types of berries that can be grown hydroponically include strawberries, blueberries, cranberries, and raspberries.
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The European region accounted for the largest share of the global hydroponics market
Greenhouse agriculture in European region supported the growth of hydroponics in Europe. Many European players such as General Hydroponics and Hydroponic system international entered the market with hydroponic tools and technologies, along with growth mediums and nutrients to grow crops hydroponically; this encouraged the growers to use such technologies. Europe is followed by North America in terms of market share due to availability of required infrastructure to run a hydroponic farm and adoption of modern farming technique. Asia Pacific region is experiencing high growth in the market due to increasing demand for fresh food among urban population and government support in establishing hydroponic farms by means of subsidies.
