Hydroponics Market Analysis

Hydroponics Market Analysis

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Based on systems, the market is divided into aggregate systems and liquid systems. The aggregate systems accounted for a market share of over 57% and is projected to grow significantly through 2032. Aggregate systems, such as expanded clay or rockwool, foster the growth of the market by offering versatile and efficient growing mediums. These systems provide optimal root support, aeration, and nutrient delivery, enhancing crop yields and enabling scalable hydroponic operations across diverse environments. For instance, in October 2023, AIMPLAS, the Plastics Technology Centre, began the development of foams made from poultry feathers for use in sustainable hydroponic crop systems. The primary objective is to foster a circular bioeconomy by establishing innovative value chains for underutilized byproducts, such as poultry feathers, which are typically disposed of. These feather foams offer unique properties, such as tailored biodegradation rates and organic nitrogen release, enhancing sustainability and efficiency in hydroponic crop systems while repurposing underutilized byproducts. 

Based on crops, the hydroponics market is categorized into tomatoes, lettuce, peppers, cucumbers, herbs, and others. In 2023, the tomatoes segment holds over 30% in the overall market. A significant market trend in hydroponics is the increasing focus on cultivating tomatoes to cater to high demand. Tomatoes are a popular choice for hydroponic growers due to their adaptability to controlled environments, resulting in higher yields and quality compared to traditional methods. For instance, in October 2023, Abu Dhabi University launched AirFarm, a new portable farm that can grow tomatoes without the need for soil. By utilizing hydroponics, AirFarm minimizes water wastage, enhances food security, and promotes sustainable farming practices, addressing the key concerns in agricultural sustainability and meeting the demand for high-quality & locally grown produce.

Asia Pacific holds a market share of over 37% in 2023. The hydroponics industry in the region is experiencing the rapid adoption of hydroponic farming methods. With population growth, urbanization, and the need for sustainable agriculture, Asia Pacific countries are increasingly investing in hydroponic systems to enhance food security and promote efficient land use. For instance, in May 2023, Azelis and Novozymes expanded their partnership in the Malaysian market, focusing on agricultural & environmental solutions. The collaboration aims to meet the increasing demand for sustainable agriculture practices. Novozymes' bio-based hydroponic products offer innovative solutions that enhance crop performance, nutrient efficiency, and stress management through natural processes, contributing to the advancement of hydroponic farming in Asia Pacific.