Hydroponic Vegetables Market Size Is Set For A Rapid Growth And Is Expected To Reach USD 14.16 Billion By 2032
According to the report, the global hydroponic vegetables market accounted for USD 4.96 billion in 2023 and is expected to reach USD 14.16 billion by the end of 2032, growing at a CAGR of around 12.35% between 2024 and 2032.
Zion Market Research has published a new report titled “Hydroponic Vegetables Market by Type (Spinach, Tomatoes, Peppers, Lettuce, Cucumber, and Others), by Distribution Channel (Unorganized small stores, Grocery stores, Hypermarket or a Supermarket, Whole food and Specialty stores, Distributors, Bulk suppliers, and Others), and by Origin (Conventional and Natural & Organic): Global Industry Perspective, Comprehensive Analysis and Forecast, 2024 - 2032”.
Hydroponic crops also include food crops and other decorative crops such as flowers, but mostly hydroponic crop growers have started to grow decorative crops besides edible crops. The global hydroponic vegetables market is projected to enhance growth over the forecast period due to increasing demand from the food industry. World food demand is increasing rapidly, around 2 lakh people are added to the population which affects the hydroponic vegetables resulting in increasing demand for the food. In addition, 10 to 16% of the crop is eaten by farm animals in search of food in such cases hydroponics provides an effective solution.
Hydroponics has a higher yield than traditional agricultural methods. It also provides higher yields with lower inputs without compromising on the safety and quality of food.
The hydroponic harvesting is controlled by the special system which performs functions like monitoring the humidity inside the greenhouse and nutritive content in the feed, as well as feed water concentrate & fertilizer. This process is free of all the disease and pollution. This technique of harvesting consumes 75-80% of feed by the proper use of feedwater concentrate & fertilizer. Hydroponic harvests are simple to preserve both outdoors and indoors and the crop has long duration shelf life.
The hydroponics vegetables market is classified on the basis of vegetable type, distribution channel, and origin. On the basis of vegetable type, the market is classified into spinach, tomatoes, peppers, lettuce, cucumber, and others. In 2023, the lettuce vegetable segment accounted for over 32.9% of the global hydroponic vegetable market. Moreover, the market is anticipated to show significant growth in the case of tomatoes, which is projected to register a CAGR of 9.6% over the forecast period.
On the basis of the distribution channel, the global hydroponic vegetables market is categorized into unorganized small stores, grocery stores, hypermarkets or a supermarket, whole food and specialty stores, distributors, bulk suppliers and others. Hypermarket or a supermarket division is anticipated to lead the global hydroponic vegetables market. On the basis of origin, the market is further bifurcated into the conventional segment and natural & organic segment. The conventional segment accounts for a relatively high revenue share over the forecast period.
In terms of geography, Europe held the largest market for hydroponic vegetables in the world due to the advancement in greenhouse harvesting. The Asia Pacific accounted for the second largest share followed by Europe in 2023. Moreover, the hydroponic vegetables market has huge opportunities in the emerging markets of the Middle East & Africa due to increased government spending on advanced agricultural techniques & greenhouses in this region, especially in countries like Qatar and U.A.E.
The global hydroponic vegetables market is dominated by players like:
- Greentech Agro LLC
- Argus Control Systems
- Logiqs B.V.
- Lumigrow, Inc.
- General Hydroponics, Inc.
- Village Farms International
- Hydrodynamics International, Inc.
This report segments the global hydroponic vegetables market as follows:
Global Hydroponic Vegetables Market: Type Analysis
- Spinach
- Tomatoes
- Peppers
- Lettuce
- Cucumber
- Others
Global Hydroponic Vegetables Market: Distribution Type Analysis
- Unorganized small stores
- Grocery stores
- Hypermarket or a supermarket
- Whole food and specialty stores
- Distributors
- Bulk suppliers
- Others
Global Hydroponic Vegetables Market: Regional Segment Analysis
- North AmericaThe U.S.
- EuropeUKFranceGermany
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- The Middle East and Africa
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