Hydroponic Crop Farming Market
Hydroponic Crop Farming Market Trend, Opportunity, and Forecast Analysis, 2024-2032
Hydroponic Crop Farming Market is segmented by Type, Equipment, Input, Farming Method, Crop Area, Crop Type and by Region. KDMI analyst foresees market revenue to cross USD 68.12 Billion by 2032 by growing with a CAGR of 8.1% during 2024-2032.
Hydroponic Crop Farming Market Highlights
The global hydroponic crop farming market is expected to cross a value of USD 68.12 billion by the end of 2032. The market was valued at USD 38.05 billion in 2023 and is expected to expand at a CAGR of 8.1% between 2024-2032.
- Over the mid-term, the growing need to lower the consumption of resources for agricultural purposes is the primary factor anticipated to drive the global hydroponic crop farming market.
- The high setup cost is a major factor to challenge the market growth.
- The Europe hydroponic crop farming market is projected to dominate the global market.
Hydroponic Crop Farming Market: Report Scope |
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Base Year |
2023 |
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Base Year Market Size |
USD 38.05 Billion |
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Forecast Year |
2024-2032 |
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Forecast Year Market Size |
USD 68.12 Billion |
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CAGR Value |
8.1% |
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Hydroponic Crop Farming Market Key Trends/Major Growth Drivers |
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Restraint Factors |
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Hydroponic Crop Farming Market Segmentation |
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Hydroponic Crop Farming Market Key Players |
AeroFarms Inc., AmHydro, Argus Control Systems Ltd., Emirates Hydroponics Farms, Signify Holding, BrightFarms, Freight Farms, Green Sense Farms Holdings Inc., LumiGrow Inc., Infarm, and others. |
Hydroponic Crop Farming Market Outlook
The method of cultivating plants without soil by utilizing nutrient-rich water solutions is known as hydroponic crop farming. The plant roots are accessible to the nutrient-rich water solution which delivers essential minerals and nutrients to these roots. The entire process of hydroponics is often set up indoors or in greenhouses, allowing growers to control temperature, light, and humidity that is ideal for the plants to grow.
According to our researchers at KD Market Insights, one of the primary factors associated with the growth of the global hydroponic crop farming market is the growing need to lower the consumption of resources for agricultural purposes. Hydroponic systems lower the farmer’s consumption of resources allowing home gardeners to professional growers, including supermarkets to restaurants, adopt this farming technique. Our researchers have found that by the utilization of hydroponic systems, farmers have achieved about a quarter higher yield than conventional agricultural practices. AeroFarms Inc., AmHydro, and Argus Control Systems Ltd are some of the significant parties in the global market for hydroponic crop farming.
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Hydroponic Crop Farming Market Drivers – Analyst’s Observation
According to the analysts at KD Market Insights, some key growth drivers for the global hydroponic crop farming market are:
- Rise in Concerns for the Unavailability of Arable Land: The increasing concern for the decreasing availability of arable land for traditional agriculture is raising the interests among farmers to adopt alternative farming methods, such as hydroponics. According to the World Bank, arable land decreased to 0.18 hectares per person in 2021 from 0.25 hectares per person in 1992. Hydroponic systems require less land area compared to conventional soil-based farming, making them suitable for urban and peri-urban areas where land availability is limited. Such a factor is therefore expected to drive the demand for hydroponic crop farming.
- Surge in Adoption of Controlled Environment Agriculture (CEA): Controlled environment agriculture allow farmers to produce high-quality crops year-round in climate-controlled environment. These modern agriculture methods, such as hydroponics, aquaponics, and vertical farming among others, allows greater scalability and flexibility, making them suitable for integration into CEA facilities. As per our researchers, the revenue generated from CEA is expected to touch near to USD 430 billion by 2032 by growing with a CAGR of 17% during the forecast period. Hence, with the increasing adoption of CEA, the demand for hydroponic crop farming is expected to increase.
Which Probable Factors Could Hamper the Growing Hydroponic Crop Farming Market Trend?
As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of hydroponic crop farming are:
- High Setup Costs: The set up cost of hydroponic crop farming is usually very high and requires a significant initial investment in infrastructure, equipment, and technology. This cost may be a barrier for small-scale growers and may restrict the adoption of these systems, thereby limiting the market growth.
- Fluctuations in Availability of Raw Materials: The lack of availability of a reliable supply chain for seeds, nutrients, growing mediums, and equipment required for hydroponic crop farming impacts the profitability of the farmers using hydroponic farming technique, which is expected to limit the market growth.
How is the Global Hydroponic Crop Farming Market Segmented?
Our experts at KD Market Insights have segmented the global hydroponic crop farming market as:
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By Type |
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By Equipment |
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By Input |
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By Farming Method |
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By Crop Area |
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By Crop Type |
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By Region |
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What are the Probable Factors Influencing the Europe Hydroponic Crop Farming Market Forecast?
The Europe hydroponic crop farming market is majorly driven by the growing demand for locally grown produce that is free from pesticides and harmful chemicals. Besides this, Europe is ongoing a massive challenge related to the availability of limited arable land, urbanization, and soil degradation. This, as a result, has raised the interests among the farmers in the region to adopt alternative farming methods, such as hydroponics. Additionally, Europe is known to have a strong focus on adopting sustainability and implementing sustainable agriculture practices, driven by concerns about environmental sustainability, climate change, and food security, which is also expected to contribute to the market growth in the coming years in the region.
As per our analysts at KD Market Insights, the following five players lead the Europe hydroponic crop farming market growth:
- Urban Crop Solutions
- GrowUp Urban Farms
- Infarm
- Jones Food Company
- Agricool
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Key Countries to Watch for in Europe Hydroponic Crop Farming Market |
Key Insights |
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Netherlands Hydroponic Crop Farming Market to Register the Largest Regional Market Share in 2032 |
USD 8.17 Billion |
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Spain Hydroponic Crop Farming Market to Grow with the Highest CAGR During 2024-2032 |
8.3% |
Which Key Players Top the Global Hydroponic Crop Farming Market Share?
As per our analysts at KD Market Insights, the competitive landscape of global hydroponic crop farming market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with hydroponic crop farming market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global hydroponic crop farming market share:
- AeroFarms Inc.
- AmHydro
- Argus Control Systems Ltd.
- Emirates Hydroponics Farms
- Signify Holding
- BrightFarms
- Freight Farms
- Green Sense Farms Holdings Inc.
- LumiGrow Inc.
- Infarm
What are the Recent Developments Observed in the Hydroponic Crop Farming Market?
Over the years, the experts at KD Market Insights have been observing the recent developments associated with global hydroponic crop farming market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.
For instance, InFarm stated that it has entered into a partnership with IKEA for growing high-quality herbs inside the restaurants of three IKEA stores in Germany.
Further, ScottsMiracle-Gro shared that it has acquired Luxx Lighting, aimed at helping the company to extend its product offerings.
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- Publication date: 7th April 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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