Global Hydroponics Market To be Reach USD 38.38 Bn by 2028, Industry Trends, Share, Size, Growth, Opportunity and Forecast | Introspective Market Research

Market Overview:
The Global Hydroponics market was estimated at USD 26.56 billion in 2021 and is projected to reach USD 38.38 billion by 2028, growing at a CAGR of 5.4% over the analysis period.

Hydroponics is a water-based technique for growing plants without soil. Instead, plants are supported by inert materials like rock wool or clay pellets. This method provides direct access to nutrients and oxygen, resulting in improved plant growth. Commercial growers favor hydroponics for its simplicity, high ROI, and cost-effectiveness compared to other methods. It is highly efficient in water usage, recycling a significant amount and minimizing waste. Hydroponically grown crops offer higher quality and yield due to precise control over essential nutrients.

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Top Key Players Covered In Liquid Fertilizer Market
• Italpollina S.p.A. (Italy)
• Tata Chemicals Ltd (India)
• Nutrien Ltd. (Canada)
• Yara International ASA (Norway)
• Israel Chemical Ltd. (Israel)
• The Mosaic Company (US)
• EuroChem Group (Switzerland)
• The Scotts Miracle-Gro Company (US)
• Sigma AgriScience LLC (US)
• ILSA S.p.A. (Italy)
• Ajay Farm-Chem Private Limited (India)
• Balaji Fertilizers Private Limited (India)

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Market Dynamics:
Driver:
Hydroponics is a soilless method of crop cultivation using a mineral solution near the plant roots. It eliminates soil-borne diseases and promotes higher-quality, nutrient-rich plants with increased yields. Monitoring sensors ensure optimal temperature adjustments. These advantages contribute to the growth of the hydroponics market. Unlike traditional soil-based agriculture, hydroponics eliminates the need for large land areas and can be set up in urban or non-arable areas. By using vertical farming techniques and maximizing space utilization, hydroponics systems can significantly increase the production capacity per unit area. This efficiency in land use allows for higher crop yields and the potential to cultivate a larger variety of crops in a smaller space.

Opportunities:
The demand for exotic vegetables and salads has been increasing due to changing eating habits, a preference for healthy and nutritious foods, and growing awareness of organic food. Urbanization has also contributed to the rising demand for hydroponically cultivated vegetables and fruits, particularly from the HoReCa segment, NGOs, fast food chains, and railway catering. Retail and food chains like KFC and Burger King are also interested in utilizing exotic vegetables such as red lettuce, yellow and red capsicum, and more.

The Report Will Include A Major Chapter
• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis
• Investment Analysis

Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis.

Segmentation Analysis of Hydroponics Market

By System Type, the aggregate system segment is forecasted to dominate the global hydroponics market in the forecast years. The huge growth of this segment is due to the extensive popularity among all the indoor hydroponic growers, owing to its low costs of installations and ease of setup.

By Crop Type, the fruits segment is estimated to grow at high rate and dominate the hydroponics market in upcoming years. Fruits cultivated through hydroponics are sustainable, and can be harvested throughout the year due to the interior conditions of the farming unit or greenhouse.

By Equipment, the HVAC [Heating, Ventilation & Air Conditioning] segment dominates the hydroponics market and is further projected to continue its significant dominance owing to the rapid development of indoor growers or farmers.

By System Type
• Aggregate systems
• Liquid systems

By Crop Type
• Vegetables
• Fruits
• Flowers

By Equipment
• HVAC
• LED grow lights
• Irrigation systems
• Material handling equipment
• Control systems

Regional Analysis of Hydroponics Market
The Asia Pacific region dominates the hydroponics market and is expected to continue its dominance owing to significant adoption of the mechanism in various parts such as South Korea, Australia and China. The demand for fresh fruits and vegetables in the region is boosting the market demand for hydroponic mechanisms. The hydroponics farms present in this region are either small business operations or individuals and families that cover approx.

By Region
• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

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Key Industry Development In The Hydroponics Market
In February, 2022, Silal, Abu Dhabi's leading fresh produce and agri-tech company, and AeroFarms, a Certified B Corporation and leader in indoor vertical farming, have signed a memorandum of understanding (MoU) to forge a long-term research and development collaboration involving knowledge and technology transfer of advanced farming systems to local farmers.

In August 2019, LumiGrow Inc. launched a new TopLight Hybrid smart fixture. The Hybrids will enable users to benefit from the enriched white spectrum, which is completely wireless and can be controlled via SmartPAR software of the company

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