- Aggregate Hydroponics System,
- Liquid Hydroponics System
Hydroponics Market size was estimated at USD 9.2 billion in 2022, growing at a CAGR of 11.8% during the forecast period 2022-2028. Global hydroponics market is expected to grow at significant rate over forecast period owing to the advantages such as high crop yield over the conventional technologies. Companies operating in the hydroponic market are adopting the launch of innovative products into the market to advance the hydroponic systems. For instance, in May 2016, Ikea has launched indoor hydroponic kit for home hydroponics in UK. Marketers in the hydroponics are focused on inorganic growth to strengthen market position and expanding geographical reach. For instance, in October 2016, Scotts Miracle-Gro’s subsidiary Hawthrone Hydroponics acquired Botanicare LLC this acquisition will expand the hydroponic business of Hawthrone garden. COVID-19 is an unprecedented worldwide public health crisis that has impacted practically every business, and its long-term repercussions are expected to have an influence on industry growth during the projection period. Our continuous study is enhancing our research approach to guarantee that fundamental COVID-19 concerns and potential solutions are included. The research examines COVID-19 in light of changes in consumer behaviour and demand, purchasing patterns, supply chain re-routing, market dynamics, and government involvement. The revised report considers the influence of COVID-19 on the market and includes insights, analysis, projections, and predictions.
In January 2022, GrowGeneration Corp., the nation's largest chain of specialty hydroponic and organic garden centers, announced the opening of a new hydroponic garden center at 1511 Broadway Street, in Ardmore Oklahoma. This 25,000 square foot location is conveniently located in southern Oklahoma at Interstate 35 near the Texas border. This location is the sixth location in Oklahoma and GrowGen's 63rd location nationwide.
In August 2021, GrowGeneration Corp., the nation's largest chain of specialty hydroponic and organic garden centers, announced the acquisition of Hoagtech Hydroponics, a leading hydroponic equipment and indoor gardening store, serving the Bellingham, Washington area. This acquisition brings the total number of GrowGen hydroponic garden centers nationwide to 59 stores.Study Period
Base Year
CAGR
Largest Market
Fastest Growing Market
One of the greatly impacting driving factors for growth of global hydroponics market is high rate of crop production in hydroponics techniques than traditional techniques. In addition, rise in the demand for salad crops and commercial food products also anticipated to positively impact the growth of the market. Furthermore, growth in focus on medicinal plant cultivation and customized plant production are expected to bolster the market share over the forecast period. However, high cost of setup and maintenance coupled with the lack of awareness regarding hydroponic technique are expected to hinder the global hydroponics during the forecast period.
The hydroponics market is projected to expand at a CAGR of 11.8% during the forecast period
AeroFarms (U.S.), AMHYDRO (U.S.), Breight Farms Inc, Freight Farms (U.S.), LumiGrow (U.S.), Argus Control Systems Limited (Canada)
Europe is the fastest-growing region for hydroponics market
1. Executive Summary |
2. Global Hydroponics Market Introduction |
2.1. Global Hydroponics Market – Taxonomy |
2.2. Global Hydroponics Market –Definitions |
2.2.1. By Type |
2.2.2. By Crop Type |
2.2.3. By Region |
3. Global Hydroponics Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Global Hydroponics Market Dynamic Factors - Impact Analysis |
3.6. Global Hydroponics Market – Competition Landscape |
4. Global Hydroponics Market Analysis, 2017-2021 and Forecast, 2022-2028 |
4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5. Global Hydroponics Market, By Type, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
5.1. Aggregate Hydroponics System |
5.1.1. Closed System |
5.1.2. Open System |
5.1.3. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
5.1.4. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.5. Market Opportunity Analysis |
5.2. Liquid Hydroponics |
5.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
6. Global Hydroponics Market, By Crop Type, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
6.1. Tomato |
6.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Lettuce and Leafy Vegetables |
6.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Pepper |
6.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. Cucumber |
6.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
6.5. Microgreens |
6.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.5.3. Market Opportunity Analysis |
6.6. Others |
6.6.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
6.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.6.3. Market Opportunity Analysis |
7. Global Hydroponics Market Forecast, By Region, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
7.1. North America |
7.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Europe |
7.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. Asia-Pacific |
7.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
7.4. Latin America |
7.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.4.3. Market Opportunity Analysis |
7.5. Middle East and Africa |
7.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.5.3. Market Opportunity Analysis |
7.6. Global Hydroponics Market - Opportunity Analysis Index, By Type, Crop Type, End User, and Region, 2022-2028 |
8. North America Hydroponics Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
8.1. Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
8.1.1. Aggregate Hydroponics System |
8.1.1.1. Closed system |
8.1.1.2. Open System |
8.1.2. Liquid Hydroponics System |
8.2. Crop Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
8.2.1. Tomato |
8.2.2. Lettuce and Leafy Vegetables |
8.2.3. Peppper |
8.2.4. Cucumber |
8.2.5. Microgreens |
8.2.6. Other Crop Types |
8.3. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
8.3.1. USA |
8.3.2. Canada |
8.4. North America Hydroponics Market - Opportunity Analysis Index, By Type, Crop Type, and Country, 2022-2028 |
8.5. North America Hydroponics Market Dynamics – Trends |
9. Europe Hydroponics Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
9.1. Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
9.1.1. Aggregate Hydroponics System |
9.1.1.1. Closed system |
9.1.1.2. Open System |
9.1.2. Liquid Hydroponics System |
9.2. Crop Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
9.2.1. Tomato |
9.2.2. Lettuce and Leafy Vegetables |
9.2.3. Peppper |
9.2.4. Cucumber |
9.2.5. Microgreens |
9.2.6. Other Crop Types |
9.3. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
9.3.1. Germany |
9.3.2. UK |
9.3.3. France |
9.3.4. Spain |
9.3.5. Italy |
9.3.6. Russia |
9.3.7. Rest of Europe |
9.4. Europe Hydroponics Market - Opportunity Analysis Index, By Type, Crop Type, End User, and Country, 2022-2028 |
9.5. Europe Hydroponics Market Dynamics – Trends |
10. Asia-Pacific Hydroponics Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
10.1. Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.1.1. Aggregate Hydroponics System |
10.1.1.1. Closed system |
10.1.1.2. Open System |
10.1.2. Liquid Hydroponics System |
10.2. Crop Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.2.1. Tomato |
10.2.2. Lettuce and Leafy Vegetables |
10.2.3. Peppper |
10.2.4. Cucumber |
10.2.5. Microgreens |
10.2.6. Other Crop Types |
10.3. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
10.3.1. China |
10.3.2. India |
10.3.3. Japan |
10.3.4. ASEAN |
10.3.5. Australia & New Zealand |
10.3.6. Rest of Asia-Pacific |
10.4. Asia-Pacific Hydroponics Market - Opportunity Analysis Index, By Type, Crop Type, End User, and Country, 2022-2028 |
10.5. Asia-Pacific Hydroponics Market Dynamics – Trends |
11. Latin America Hydroponics Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
11.1. Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.1.1. Aggregate Hydroponics System |
11.1.1.1. Closed system |
11.1.1.2. Open System |
11.1.2. Liquid Hydroponics System |
11.2. Crop Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.2.1. Tomato |
11.2.2. Lettuce and Leafy Vegetables |
11.2.3. Peppper |
11.2.4. Cucumber |
11.2.5. Microgreens |
11.2.6. Other Crop Types |
11.3. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
11.3.1. Brazil |
11.3.2. Mexico |
11.3.3. Rest of Latin America |
11.4. Latin America Hydroponics Market - Opportunity Analysis Index, By Type, Crop Type, End User, and Country, 2022-2028 |
11.5. Latin America Hydroponics Market Dynamics – Trends |
12. Middle East and Africa Hydroponics Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
12.1. Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.1.1. Aggregate Hydroponics System |
12.1.1.1. Closed system |
12.1.1.2. Open System |
12.1.2. Liquid Hydroponics System |
12.2. Crop Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.2.1. Tomato |
12.2.2. Lettuce and Leafy Vegetables |
12.2.3. Peppper |
12.2.4. Cucumber |
12.2.5. Microgreens |
12.2.6. Other Crop Types |
12.3. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
12.3.1. Gulf Cooperation Council (GCC) Countries |
12.3.2. South Africa |
12.3.3. Rest of MEA |
12.4. MEA Hydroponics Market - Opportunity Analysis Index, By Type, Crop Type, End User, and Country, 2022-2028 |
12.5. MEA Hydroponics Market Dynamics – Trends |
13. Competition Landscape |
13.1. Strategic Dashboard of Top Market Players |
13.2. Company Profiles (Introduction, Financial Analysis, Key Types, Key Developments, Strategies, and SWOT Analysis) |
13.2.1. AeroFarms (U.S.) |
13.2.2. AMHYDRO (U.S.) |
13.2.3. Breight Farms Inc |
13.2.4. Freight Farms (U.S.) |
13.2.5. LumiGrow (U.S.) |
13.2.6. Argus Control Systems Limited (Canada) |
13.2.7. Emirates Hydroponics Farms (UAE) |
13.2.8. Signify Holding (the Netherlands) |
13.2.9. Heliospectra AB (Sweden) |
13.2.10. Green Sense Farms Holdings, Inc. (U.S.) |
13.2.11. Terra Tech Corp (U.S.) |
14. Research Methodology |
15. Key Assumptions and Acronyms |