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Owing to Scarcity of Arable Land and Depleting Water Resources, Hydroponics Global Market to Reach $25 Billion by 2029 – Market Research Report (2023-2029) by Industry Experts, Inc.

Monday 05 Feb 2024

Industry Experts, Inc. published the latest market research report on Hydroponics. As per the new report entitled "Global Hydroponics Market – System Types, Input Types and Crop Types", Asia-Pacific region is poised to exhibit the fastest growth during 2023-2029 with a CAGR of 12.9% closely followed by Europe with 12.6%. Europe leads the global Hydroponics market with an estimated US$4.9 billion in 2023.

Scarcity of arable land, depleting water resources and migration of people from rural to urban areas in search of adequate livelihood are having a huge adverse impact on agriculture the world over. Coupled with these is the fact that population growth is continuing unabated and forests are being cut down to accommodate this growing mass of people, resulting in climate change. Even with these detrimental factors playing a vital role in decreased agricultural output, the use of open-field agriculture is widely prevalent worldwide, with no consideration given to thousands of acres becoming useless for farming. As a consequence, agriculturists are now being forced to adopt novel techniques to maintain a steady growth and supply of food sources, among which Hydroponics is a major one.

Aggregate Systems account for a Hydroponics market share of about 52% in 2023, globally, while Liquid Systems closely follows with 48% in the same year. Liquid Systems is anticipated to grow by a CAGR of 12.6% during the period 2023-2029 to reach US$12.4 billion almost equal to that of Aggregate Systems. The worldwide market for Hydroponics is expected to surpass US$14 billion in 2024 with Europe accounting for a lion's share of about 39%.

The study reviews, analyzes and projects the Hydroponics market for global and the regional markets including North America, Europe, Asia-Pacific, South America and Middle East & Africa for the period 2020-2029 in terms of value in USD. These regional markets further analyzed for 15 independent countries across North America – the United States, Canada and Mexico; Europe – France, Germany, Italy, Netherlands, Spain and the United Kingdom; Asia-Pacific – China, India, Japan and South Korea; South America – Argentina and Brazil.

The market for major types of Hydroponic systems analyzed in this report include Aggregate Systems (including Drip Systems, Ebb & Flow Systems & Wick Systems) and Non-Aggregate or Liquid Systems (comprising Aeroponics Systems, Deep Water Culture (DWC) Systems & Nutrient Film Technique (NFT) Systems). Hydroponic input types market studied comprise Growth Media and Nutrients. The study also explores the market for Hydroponics crops including Fruits & Flowers, Herbs & Microgreens and Vegetables.

This 415 page Hydroponics market report includes 304 charts (includes a data table), supported with a meaningful and easy to understand graphical presentation of the market. This report comprises brief business profiles of 25 key players and also provides a listing of the companies engaged in the Hydroponics market. The global list of companies covers addresses, contact numbers and the website addresses of 208 companies.

California, USA based Industry Experts, Inc. is a multi-industry focused business information provider.

For more details, please visit: https://industry-experts.com/verticals/food-and-beverage/global-hydroponics-market