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Global Hydroponic Farming Market Size Poised for Strong 8.2% CAGR Growth During Forecast Period, Reports Reed Intelligence

GlobeNewswire

The global hydroponic farming market size is growing at a CAGR of 9.7% from 2023 to 2031. North America is expected to be the largest market for hydroponic farming due to the presence of a large number of hydroponic farming companies in the region.

New York, United States, Sept. 05, 2023 (GLOBE NEWSWIRE) — Growing plants without soil is done using a modern agricultural method called hydroponic farming. Hydroponic systems use nutrient-rich water solutions to directly provide vital minerals and nutrients to the roots of plants as opposed to the more conventional soil-based approaches. Compared to conventional farming, this method has a number of benefits, including faster growth rates, larger yields, and more regulated growing environments.

The market for hydroponic farming is expanding as a result of the rising demand for nutritious, fresh foods. Because it requires less water and area than conventional farming techniques, hydroponic farming is a more effective way to grow food. Due to its ability to produce more food with fewer resources, hydroponic farming is becoming a more appealing alternative for farmers.

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Market Dynamics

Because it requires less water and area than conventional farming techniques, hydroponic farming is a more effective way to grow food. Due to its ability to produce more food with fewer resources, hydroponic farming is becoming a more appealing alternative for farmers. The market is expanding as a result of the rising demand for nutritious and fresh food.

Food demand is anticipated to rise along with it. Due to its ability to produce more food in a smaller area, hydroponic farming can assist in meeting the world’s increasing food need.

Hydroponic farming has seen considerable technological developments in recent years. This has prompted the creation of fresh and cutting-edge hydroponic agricultural techniques. Hydroponic farming is becoming more effective and user-friendly because to these technologies, which is fueling industry expansion.

Report Scope

Report Metric Details
Compound Annual Growth Rate (CAGR) 8.2%
Forecast Period 2023-2031
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered Segment by Type

  • Leafy Greens
  • Microgreens
  • Others

Segment by Application

  • Food Service
  • Supermarkets/Hypermarkets
  • Others
Geographies Covered
  • North America
  • Europe
  • APAC
  • Middle East and Africa
  • LATAM
Market Drivers
  • Increasing Demand For Fresh And Healthy Food
  • Growing Population
  • Technological Advancements

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Global acceptance of hydroponic farming as a sustainable and cutting-edge approach to agricultural production is growing. Both commercial growers and home gardeners looking for effective and environmentally responsible ways to raise plants will find it to be an appealing alternative due to its capacity to produce high-quality crops in regulated surroundings.

In the upcoming years, it is anticipated that the hydroponic farming market would expand dramatically. The market is expanding as a result of rising demand for nutritious food, population increase, and technological improvements.

Regional Analysis

North America region is anticipated to be the greatest market for the practice. Some of the key reasons propelling the market expansion in the area include the rising demand for organic food and the growing knowledge of the advantages of hydroponic farming.

Due to the rising demand for organic food and the increased public knowledge of the advantages of hydroponic farming, the European region is anticipated to be the second-largest market for the practice. The region’s abundance of hydroponic farming businesses is also anticipated to fuel the market’s expansion.

key highlights for the hydroponic farming market:

  • From 2023 to 2031, the Hydroponic Farming Market Size will expand at a CAGR of 9.7%.
  • Because it requires less water and area than conventional farming techniques, hydroponic farming is a more effective way to grow food.
  • Due to the rising demand for food, the market for hydroponic farming is anticipated to expand at a rapid rate.
  • Hydroponic farming is becoming more effective and user-friendly because to technological developments, which is also boosting the market’s expansion.
  • Governments all around the world are promoting hydroponic farming, which is assisting in the market’s expansion.

Competitive Landscape

  • Evergreen Farm Oy
  • Jones Food Company (JFC)
  • Kalera
  • InFarm
  • AgriCool
  • LettUs Grow Ltd
  • Infinite Acres
  • CropOne
  • Green Spirit Living Farm
  • Bright Farms
  • Freight Farms
  • Aero Farms
  • Bowery Farming
  • Plenty Unlimited Inc
  • Gotham Greens
  • Iron Ox

Hydroponic Farming Market Segmentations

Segment by Type

  • Leafy Greens
  • Microgreens
  • Others

Segment by Application

  • Food Service
  • Supermarkets/Hypermarkets
  • Others

Segment by Region

  • North America
  • Europe
  • APAC
  • Middle East and Africa
  • LATAM

Table of Contents

  1. Executive Summary
    1. Introduction
  2. Market Introduction
    1. Market Definition
    2. Scope of the Study
    3. Market Structure
  3. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  4. Market Factor Analysis
    1. Value Chain Analysis: Hydroponic Farming Market
    2. Porters Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Dynamics
    1. Drivers
    2. Restraints
    3. Opportunities
  6. Recent Trends Analysis
  7. Impact of COVID-19 on Hydroponic Farming Market
    1. Pre and Post Covid -19 Market Scenario Analysis
    2. Market Recovery Timeline and Challenge
    3. Measures Taken by Top Players
  8. Regulatory Landscape
  9. Hydroponic Farming Market, Segment by Type
    1. Introduction
      1. Market Size and Forecast, Segment by Type
    2. Leafy Greens
      1. Market Size and Forecast, By Region
    3. Microgreens
      1. Market Size and Forecast, By Region
    4. Others
      1. Market Size and Forecast, By Region
  10. Hydroponic Farming Market, Segment by Application
    1. Introduction
      1. Market Size and Forecast, Segment by Application
    2. Food Service
      1. Market Size and Forecast, By Region
    3. Supermarkets/Hypermarkets
      1. Market Size and Forecast, By Region
    4. Others
      1. Market Size and Forecast, By Region
  11. Regional Overview
    1. Introduction
      1. Market Size and Forecast
    2. North America
      1. Market Size and Forecast
        1. Segment by Type
          1. Leafy Greens
          2. Microgreens
          3. Others
        2. Segment by Application
          1. Food Service
          2. Supermarkets/Hypermarkets
          3. Others
      2. U.S.
        1. Segment by Type
          1. Leafy Greens
          2. Microgreens
          3. Others
        2. Segment by Application
          1. Food Service
          2. Supermarkets/Hypermarkets
          3. Others
      3. Canada
    3. Europe
      1. Market Size and Forecast
        1. Segment by Type
          1. Leafy Greens
          2. Microgreens
          3. Others
        2. Segment by Application
          1. Food Service
          2. Supermarkets/Hypermarkets
          3. Others
      2. U.K.
        1. Segment by Type
          1. Leafy Greens
          2. Microgreens
          3. Others
        2. Segment by Application
          1. Food Service
          2. Supermarkets/Hypermarkets
          3. Others
      3. Germany
      4. France
      5. Spain
      6. Italy
      7. Russia
      8. Nordic
      9. Benelux
      10. Rest of Europe
    4. APAC
      1. Market Size and Forecast
        1. Segment by Type
          1. Leafy Greens
          2. Microgreens
          3. Others
        2. Segment by Application
          1. Food Service
          2. Supermarkets/Hypermarkets
          3. Others
      2. China
        1. Segment by Type
          1. Leafy Greens
          2. Microgreens
          3. Others
        2. Segment by Application
          1. Food Service
          2. Supermarkets/Hypermarkets
          3. Others
      3. Korea
      4. Japan
      5. India
      6. Australia
      7. Taiwan
      8. South East Asia
      9. Rest of Asia-Pacific
    5. Middle East and Africa
      1. Market Size and Forecast
        1. Segment by Type
          1. Leafy Greens
          2. Microgreens
          3. Others
        2. Segment by Application
          1. Food Service
          2. Supermarkets/Hypermarkets
          3. Others
      2. UAE
        1. Segment by Type
          1. Leafy Greens
          2. Microgreens
          3. Others
        2. Segment by Application
          1. Food Service
          2. Supermarkets/Hypermarkets
          3. Others
      3. Turkey
      4. Saudi Arabia
      5. South Africa
      6. Egypt
      7. Nigeria
      8. Rest of MEA
    6. LATAM
      1. Market Size and Forecast
        1. Segment by Type
          1. Leafy Greens
          2. Microgreens
          3. Others
        2. Segment by Application
          1. Food Service
          2. Supermarkets/Hypermarkets
          3. Others
      2. Brazil
        1. Segment by Type
          1. Leafy Greens
          2. Microgreens
          3. Others
        2. Segment by Application
          1. Food Service
          2. Supermarkets/Hypermarkets
          3. Others
      3. Mexico
      4. Argentina
      5. Chile
      6. Colombia
      7. Rest of LATAM
  12. Competitive Landscape, 2022
    1. Introduction
    2. Hydroponic Farming Market Share Analysis, 2022 (%)
      1. Market Share Analysis, 2022
      2. Competition Ranking, 2022
      3. Key Developments & Growth Strategies
        1. Merger & Acquisition
        2. Product Launch
        3. Expansion
      4. Consolidated SWOT Analysis of Key Players
  13. Company Profile
    1. Evergreen Farm Oy
      1. Business Overview
      2. Financial Data
      3. Key Product Categories
      4. Recent Developments
    2. Jones Food Company (JFC)
    3. Kalera
    4. InFarm
    5. AgriCool
    6. LettUs Grow Ltd
    7. Infinite Acres
    8. CropOne
    9. Green Spirit Living Farm
    10. BrightFarms
    11. Freight Farms
    12. AeroFarms
    13. Bowery Farming
    14. Plenty Unlimited Inc
    15. Gotham Greens
    16. Iron Ox

Read Full Table of Content and Figure @ https://reedintelligence.com/market-analysis/global-hydroponic-farming-market/toc

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