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The hydroponic nutrients market size is forecast to increase by USD 2.14 billion, at a CAGR of 11.54% between 2023 and 2028. Hydroponic farming has emerged as a promising solution in response to the reduction in arable land worldwide. This farming method, which does not require soil, allows for food production in urban areas and even vertically. The Indian government recognizes its potential and offers subsidies to promote hydroponic farming. India's hydroponic farming sector is growing, with an increasing focus on exporting this fresh produce to countries with high demand. The advantages of hydroponic farming include water conservation, reduced use of pesticides, and higher crop yields. This innovative farming method is not only contributing to food security but also to India's economy by generating exports.
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The global hydroponics market is rapidly expanding due to the increasing demand for soil-less agriculture solutions. This innovative method, which includes indoor cultivation and the use of polymer hydrogel film, allows for the growth of nutritionally superior vegetables like tomatoes and cucumbers without traditional soil. Hydroponic systems rely on a balanced mineral solution, incorporating essential nutrients such as nitrogenous, phosphatic, potassic, and micronutrients to optimize plant health. Both professional growers and home gardeners benefit from hydroponic agriculture due to its operational simplicity and yield enhancement. The market also includes farmers, restaurants, and those involved in cannabis cultivation. While synthetic and organic nutrient solutions are available, artificial ripening agents can impact produce quality. Addressing climatic changes and installation costs remains crucial for maximizing productivity and ensuring sustainable practices in the evolving hydroponics industry.
One of the key factors driving the global hydroponic nutrients market growth is the reduction in arable land due to rapid industrialization and urbanization. Inappropriate agricultural practices and deforestation have also led to a reduction in the fertility of arable land. Global arable land is expected to decrease from 0.19 hectares per person in 2016 to 0.17 hectares per person by 2050. In addition, owing to the increasing population worldwide, by 2030, the demand for food grains is expected to increase by 70% when compared to the existing demand. An additional 34 million square kilometers of new arable land will be required to cater to the global demand for food grains. By 2030, developing countries, including China, Brazil, and India, will require an additional 120 million hectares of land to fulfill the demand for food grains. Such factors are expected to fuel the demand for hydroponic nutrients during the forecast period.
Key Market Trends
Growing application of hydroponics in vertical farming is one of the key hydroponic nutrients market trends that is expected to impact the industry positively in the forecast period. As vertical farming involves trays stacked on shelves, these farms cannot utilize natural sunlight in the growing process. Instead, they use numerous LEDs to create light conditions required for photosynthesis, which leads to high electricity consumption. However, plants stacked in towers within hydroponic greenhouses require far less electricity, as they can access natural sunlight when it is available. Researchers in Eden Green Technology are working on the implementation of a hydroponic growth medium and nutrients for the vertical farming of vegetables such as cucumbers. This will further support the market growth in the coming years.
Major Market Challenge
One of the key challenges to the global hydroponic nutrients market growth is the availability of traditional farming. The deficiency of potassium, nitrogen, and phosphorus in the soil led to an increase in the use of conventional fertilizers to improve the agricultural yield. By 2030, the global population is expected to reach 8.5 billion with an annual growth of 1.10%. Thus, the use of nitrogenous fertilizers is expected to increase during the forecast period, as they are more efficient and have fewer environmental impacts than conventional fertilizers. Traditional nitrogenous fertilizers are quickly absorbed by plants. The use of nitrogenous fertilizers with fixed nutrient composition helps in reducing fertilizer wastage and water consumption. This may limit the growth of the market in focus during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
3G Green Garden Group LLC - The company offers Hydroponic nutrients products such as Cali Pro and Grow Micro Bloom.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The macronutrients segments is estimated to witness significant growth during the forecast period. Macronutrients accounted for the highest market share in the global hydroponic nutrients market. This segment consists of nutrients such as carbon, hydrogen, oxygen, nitrogen (N), phosphorus (P), potassium (K), sulfur, calcium, and magnesium. Furthermore, these nutrients play a vital role in the energy metabolism, protein synthesis, photosynthesis, and flowering processes of plants.
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The macronutrients segment accounted for USD 1.53 billion in 2018 and showed a gradual increase during the forecast period. For instance, the nitrogen nutrient helps in the cell multiplication of plants and protein synthesis. Moreover, the lack of nitrogen can lead to the loss of color and strength of plants. The market demand is majorly attributed to the high consumption of macronutrients, which form more than 90% of the dry weight of an average plant. However, as carbon, hydrogen, and oxygen are easily absorbed through air and water by plants, the segment mainly focuses on the remaining nutrients.
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APAC is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC dominated the global hydroponic nutrients market in 2023. Limited arable land, improved farming practices and technological developments, rising population, and favorable government policies drive regional market growth. The growth in population directly leads to an increased demand for food products. For instance, the population in APAC is expected to reach 5.1 billion by the end of 2050. According to the study conducted by the Asian Development Bank (ADB), India will overtake China as the most populous nation on earth by the middle of the present decade. Owing to this, additional measures are required to increase the production of crops to serve the growing population, which, in turn, will increase the demand for hydroponic nutrients in the region. Measures are also being taken by the governments of India and China to educate their farmers regarding the use of hydroponic fertilizers. Apart from that, the Indian central government and state governments are offering subsidies for the capital cost of hydroponic farming to enhance hydroponic farming in APAC, which will positively impact regional market growth.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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1. Vertical Farming Technologies Market by Application, Types and Geography - Forecast and Analysis
2. Hydroponics Technologies Market Analysis Europe, APAC, North America, South America, Middle East and Africa - US, The Netherlands, Japan, China, Canada - Size and Forecast
3. Vertical Farming Market by Product and Geography - Forecast and Analysis
Indoor farming systems are increasingly vital in addressing climate change and water scarcity, with innovative solutions like phytoponics and commercial hydroponic growers leading the way. These systems enable the cultivation of leafy greens, tomatoes, peppers, and strawberries in vast parcels without reliance on traditional soil. Advanced irrigation systems and HVAC systems ensure optimal climate control, while sensing technologies monitor plant roots and soil organisms. Energy requirements are managed through LED grow lights and spectrum changeable LED grow lights, providing the necessary light for growth. Nutrifield offers solutions for organic certification with liquid systems and deep water culture. Greenhouse crop production and aggregate systems such as Nutrient Film Technique enhance crop area concentration and productivity. Online education material supports growers by providing insights into control systems, rails, fans, and ventilation techniques, fostering efficient and sustainable practices in the industry.
Market Scope |
|
Report Coverage |
Details |
Page number |
128 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.54% |
Market growth 2024-2028 |
USD 2.13 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.39 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 45% |
Key countries |
US, India, Japan, Australia, and The Netherlands |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3G Green Garden Group LLC, Advanced Nutrients Ltd., Better Organix OU, BrightFarms Inc., Canna Continental, FoxFarm Soil and Fertilizer Co., Growth Technology Ltd., HGI Worldwide Inc., HS Supplies LLC, Hydrodynamics International Inc., LumiGrow Inc, Master Garden Nutrients Ltd., Masterblend International Tyler Enterprises, Nutriculture UK Ltd., The Scotts Miracle Gro Co., and Village Farms International Inc. |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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