The global hydroponics market was valued at USD 5.00 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 12.4% from 2024 to 2030. This expansion is largely driven by the increasing use of hydroponic systems for indoor vegetable cultivation. The rapid rise in alternative farming techniques for cannabis cultivation is also contributing to market growth, particularly due to the legalization of marijuana in countries such as Canada, the Czech Republic, and South Africa. Additionally, growing consumer awareness regarding the harmful effects of pesticides and artificial ripening agents is expected to boost the demand for hydroponics, which allows for pesticide-free, nutritionally enhanced produce. The relatively low setup costs and ease of operation of hydroponic systems are also anticipated to support widespread adoption over the forecast period.

Hydroponics is a soil-free method of growing plants, where a mineral-rich solution is used to deliver nutrients directly to the roots. The roots are submerged in a carefully monitored solution to maintain the appropriate chemical balance, promoting optimal plant growth. This technique reduces the risk of soil-borne diseases and typically results in higher yields than conventional farming due to enhanced nutrient control.

With the global population on the rise, there is a mounting need for increased food production. According to the Food and Agriculture Organization (FAO) of the United Nations (UN), the global population is expected to reach 9.1 billion by 2050, necessitating a 25% to 70% increase in food output. This rising demand underscores the importance of alternative farming methods that can produce high yields in a shorter timeframe. In areas such as Asia Pacific and Europe, where both arable land and water are limited, the adoption of efficient, high-yield farming technologies is gaining momentum, further fueling market growth.

Advancements in climate control systems, nutrient delivery methods, sensing technologies, and related innovations are expected to further drive market development throughout the forecast period. Providers of hydroponic solutions offer a wide range of technologies that help growers monitor and manage their crops more effectively, including various sensors, digital platforms, software tools, and mobile apps. For example, SmartBee Technology, Inc. provides a suite of real-time monitoring tools, including irrigation systems, water and nutrient sensors, environmental monitors, and supporting software.

Get a preview of the latest developments in the Hydroponics Market! Download your FREE sample PDF today and explore key data and trends

Regional Overview

In 2023, the Asia Pacific region led the global hydroponics market, accounting for 35.6% of total revenue. This dominance is attributed to the widespread use of hydroponic techniques in countries like China, Australia, and South Korea. The markets in China and India are expected to grow significantly due to the emergence of urban hydroponic farms.

North America presents substantial growth potential due to the presence of key industry players and increasing adoption of urban farming techniques. Leading North American companies include AeroFarms (U.S.), AMHYDRO (U.S.), Argus Control Systems Limited (Canada), and LumiGrow (U.S.). Europe is forecast to experience the fastest CAGR of 13.6% from 2024 to 2030. Hydroponic farming is gaining traction across Europe as it offers efficient, controlled indoor cultivation that overcomes the limitations of traditional farming. Developed countries such as France, Germany, Italy, Spain, and the Netherlands provide the infrastructure and investment capability required for advanced agricultural technologies. Moreover, the growing acceptance of genetically modified crops enhances the appeal of hydroponic farming, creating favorable conditions for continued market expansion in the region.

Leading Companies in the Hydroponics Market

The following organizations are key players driving the hydroponics industry, influencing trends and shaping the market landscape. Their financial performance, strategies, and product offerings form a significant part of the sector's growth dynamics:

  • AeroFarms

  • AmHydro

  • Argus Control Systems Limited

  • Emirates Hydroponics Farms

  • Freight Farms, Inc.

  • BrightFarms

  • Heliospectra

  • Signify Holding

  • Nutrifresh India

  • UrbanKisaan

Gather more insights about the market drivers, restrains and growth of the Hydroponics Market