Many parts of the world are facing a scarcity of fresh water. In the world, around 70% of fresh water is used in agriculture part (OECD, 2023). Population growth is increasing the demand for food across the world. According to the Food and Agriculture Organization of the United Nations, the world population is expected to reach up to 9.1 billion by 2050, for which food production is expected to increase from between 25% to 70%. The increase in food demand increases freshwater withdrawals. So it is necessary to develop alternative farming technologies that give high yields in less time.
Hydroponics requires up to 75 percent less space than conventional farming methods and approximately 80 to 99 percent less water (World Bank, 2021)
Hydroponic farming is a method of growing plants without soil, where the soil is replaced by a nutrient solution and roots are inserted in the nutrient solution. Chemical composition is continuously monitored to ensure plant growth.)
The hydroponically grown plants produce a higher yield than similar plants grown in soil because of proper control over the nutrients. Advancements in control systems and sensing technologies are expected to promise well for market growth soon.
⦁ Clean, sustainable manufacturing
⦁ Smart Manufacturing
Hydroponics farming managers offer consumers various ways to monitor
and manage their crops with numerous sensors, web platforms, software,
and mobile applications
Owing to such technological advancements in hydroponics,
the market is expected to grow
at a significant rate from 2021 to 2028
The liquid systems segment is estimated to expand at the fastest CAGR from 2021 to 2028,
owing to the increasing use of closed system cultivation among growers (grandviewresearch, 2023).
Deepwater systems and Nutrient Film Technique (NFT) systems are being increasingly used to
cultivate lettuce and other leafy vegetables. Liquid systems eliminate the use of a solid medium,
and the roots are directly submerged in the nutrient solution, therefore, making the plant’s growth
easier. Furthermore, as the nutrients are directly provided to the roots of a plant, liquid systems
increase the growth, consequently giving maximum yields. While the risk of dispersal of pathogens
increases by recirculating nutrient solutions in closed systems. Thus, to avoid this, liquid systems
require frequent maintenance for monitoring and changing nutrient solutions (grandviewresearch, 2023).
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The Global Hydroponics Market has been segmented by Equipment into Hvac, Led Grow Light,
Control Systems, Irrigation Systems, Material Handling, and Others.
The complete Global Hydroponics Market segmentation by Equipment can be seen below
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Between different equipment, control systems will have the most growth until 2029.
The Global Hydroponics Market has been segmented by Input into Nutrients and Grow Media.
The complete Global Hydroponics Market segmentation by Input can be seen below:
Higher yield as compared to conventional agriculture practices and
controlled environment farming that helps eliminate the effect of
external factors on crop growth are accounted as two important
factors for the growth of the global hydroponic market. While the
growth of the Global Hydroponics Market is currently delayed by;
high capital investment for large-scale farms and a lack of government
policy and tax breaks in developing countries.
The global Hydroponics Market has good growth potential
in the future due to the new market opportunities that are
being created. The opportunities in this market include;
the development of innovative hydroponic technologies,
the entrance of new players in the market, the application
of hydroponics systems in restaurants and grocery stores,
significant growth in organic food demand, and increased demand
for cannabis (legal permission) projected to fuel the demand for
hydroponics in some countries.
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