The hydroponics market is projected to reach USD 60.36 billion by 2033, with a current valuation of USD 32.06 billion in 2023. It is anticipated to grow at a compound annual growth rate (CAGR) of 12.65% from 2023 to 2033. This market encompasses the cultivation of plants without soil, using nutrient-rich water-based solutions. Hydroponics, a technique with ancient origins, offers significant benefits such as accelerated plant growth, increased yields, and the versatility to grow crops in diverse settings like rooftops and greenhouses. The method also supports water and nutrient recycling and can be used for organic food production and space research. Despite its advantages, hydroponics demands substantial initial investment and technical expertise. Overall, this expanding market is transforming traditional agriculture by providing a more efficient, soil-free cultivation method.
The latest research report by Evolve Business Intelligence explores the various factors influencing the global market. It includes an analysis of the current market size, forecasts for key segments and regions, and the driving forces behind market growth. The report examines the potential impacts of key trends on business strategies and provides a SWOT analysis of critical sectors for each major competitor and customer group. This valuable data highlights the conglomerates likely to impact the industry, crucial for any company planning to invest strategically over the next five years. These insights complement our initial quantitative study, aiding in new investments and strategic planning to mitigate threats in existing sectors.
Segments covered
By basis of Type (Aggregate Systems, Liquid Systems)
By Basis Of Input (Nutrients, Rockwool)
By basis of equipment (HVAC, LED Grow Lights, Irrigation Systems, Material Handling, Control Systems, Others)
By Crop Type (Vegetables (Fruits, Flowers, Others)))
Key players
Signify Holdings
Argus Control Systems
Heliospectra
Scotts Miracle Gro
American Hydroponics
LumiGrow
Emerald Harvest
Hydroponic Systems International
Advanced Nutrients
Hydrodynamics International
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