Hydroponics Market
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Hydroponics Market by Product Type, Equipment, Input, Crop Type, & Region | Forecast 2023 to 2033
Hydroponics Market Outlook (2023 to 2033)
According to the Future Market Insights study, the global hydroponics market size is estimated to develop at a CAGR of 7% over the forecast period. In 2023, the hydroponics industry is expected to be valued at US$ 2.78 billion. The hydroponics industry is expected to grow to US$ 5.70 billion by 2033.
The market is witnessing an upward trajectory with an increasing number of individuals, businesses, and governments turning to this method of cultivating plants. Hydroponic is a system of growing plants without soil, using mineral nutrient solutions in water.
Rising hydroponics sales are being attributed to:
- The key driver of the market includes the increasing demand for locally grown and fresh produce. As consumers become more health conscious and environmentally aware, they are seeking out fresh and pesticide-free produce that is grown in a sustainable and controlled environment.
- The growing popularity of organic farming and increasing demand for organic hydroponic nutrients are also important factors driving the market growth. As consumers become more aware of health and environmental concerns, organic food products are in demand, and the same trend reflects in the hydroponics market. The use of organic hydroponic nutrients is sustainable, eco-friendly and free of harmful chemicals. This makes them an ideal choice for those concerned about the environment.
- The rising demand for exotic vegetables used in multi-national and inter-continental cuisines, such as kale, lettuce, broccoli, cucumber, and cilantro, is a big driver for the hydroponics business. This is due to the increased customer demand for organic and chemical-free food items. This element contributes to the growth of the hydroponics market.
- In urban farming, hydroponic garden systems have also become a driving force. Hydroponic systems provide an answer to the problem of shrinking farming spaces as urbanization continues to rise. The hydroponic garden systems are very easy to use, and can even be set up in little spaces. This makes them a great option for people living in urban areas.
- In growing economies such as India, Brazil, South Africa, and Thailand, hydroponics farming is predicted to grow rapidly. The developing markets, which are rapidly becoming potential centres for various global markets, hold the maximum promise for global food and beverage sector advancement.
- The popularity of home hydroponic systems is also fueling market expansion. This system allows individuals to grow fresh produce at home, regardless of their location or climate. This has become increasingly popular since individuals are seeking ways to eliminate their carbon footprint as well as have access to fresh and healthy produce year-round.
- With catastrophic population growth, high rates of urbanisation, and doubled disposable incomes resulting in improvements in the basic standard of living, emerging markets provide a significant opportunity for producers to address customers' dietary shifts toward nutritional products while offering a limited range of confined tastes and needs.
- The advantages of DWC hydroponics are making them a popular choice among individuals. This type of hydroponic provides a simple and effective way of growing plants by allowing the roots to be submerged in nutrient-rich water. This method allows for faster growth and at the same time reduces the risk of plant diseases as well as pests.
In addition to these drivers, several notable trends in the market are shaping its future. One of the highly noteworthy trends is the growing use of automation and technology in hydroponic farming. This comprises the use of sensors, artificial intelligence, and machine learning algorithms to optimize growing conditions and increase harvests. With the help of these technologies, hydroponic users can cultivate crops proficiently and diminish waste as well as maximize revenues.
Another key trend in the market is the rising attention to vertical farming. Several farmers are turning to vertical farming as a means to maximize their growing capacity with restricted space in urban areas. Vertical farming countenances farmers to stack numerous layers of plants on top of each other, utilizing less space and increasing production.
The hydroponics market holds numerous growth opportunities for market players. These take account of the development of fresh technologies and innovations in hydroponics farming, as well as the diversification of crops that can be grown using hydroponics.
The hydroponics business is expected to expand as the advanced yield as compared to conventional agriculture techniques is stressed even more with the onset of the Covid-19 pandemic. Rapid advances in testing technologies throughout the world are also projected to propel the hydroponics market from 2023 to 2033. Because hydroponic systems help save natural resources, their demand in the industry is increasing, assisting the market to flourish.
|
Attributes |
Details |
|
Hydroponics Market Value (2023) |
US$ 2.78 billion |
|
Hydroponics Market Expected Value (2033) |
US$ 5.70 billion |
|
Hydroponics Market Projected CAGR (2023 to 2033) |
7% |
The whole population expansion is attributable to the increasing usage of hydroponic systems for indoor vegetable farming. Since marijuana has been made legal in many countries, the application of alternative farming methods for cannabis cultivation is increasing dramatically.
Heightened consumer awareness about the health consequences of pesticides and artificial ripening agents is expected to boost demand for hydroponics, as the procedure nullifies the necessity for these products, culminating in nutritionally superior vegetables. The low installation cost and help alleviate of application of these systems are also anticipated to encourage the adoption of hydroponics in the near future.
Climate control, nutrient film techniques, and sensing technologies, among other things, are expected to accelerate hydroponics market growth in the near future. Global food demand is swelling as the world's population expands. This is expected to fuel demand for alternative farming technologies that generate higher returns in less time. Where arable land and water are now becoming limited, regions such as the Asia Pacific and Europe are experiencing an increase in the adoption of alternative high-yield farming technologies, which is expected to spur market growth.
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Historical Scenario and Recent Statistics for the Hydroponics Market
The hydroponics market is projected to register a CAGR of 7% between 2023 and 2033. Historically, the market presented moderate growth from 2018 to 2022, exhibiting a CAGR of 2.8%.
Over the past half-decade, the market has exhibited a remarkable growth trajectory, characterized by a surge in demand for hydroponic systems worldwide. From 2016 to 2022, this burgeoning market witnessed a notable upswing, with a discernible increase in the adoption of hydroponic farming techniques and equipment.
The trend of harvesting yield in soil-free and water-based nutrients and solutions has taken the industry by storm since hydroponics have been shown to offer generous advantages over conventional farming practices. This mushrooming market has continued to magnify exponentially, driven by factors such as population growth, environmental concerns, and an intensifying demand for food safety.
Technological advancements have also contributed to the meteoric rise of the market, with innovative solutions and advanced equipment pouring growth and enticing investments. The market has reached new heights as a result of the introduction of advanced lighting systems, automation technologies, and climate control systems that have enabled crop production optimization.
At present, the market is expanding as a result of the rising desire for fresh and organic produce. The capacity to manage the environment and the nutritional intake of crops, together with the ability to grow crops year-round and everywhere, has led to a rise in the production of high-capacity, pesticide-free, and fresh produce.
Looking ahead, FMI projects that the market is likely to maintain its upward trend and experience significant growth during the forecast period, and the future of this market looks incredibly promising. The market is poised to offer lucrative growth prospects in the short-term, medium-term, and long-term horizons, accentuating its integral perspective for market players.
- Short Term (2023 to 2026): Since many individuals take use of soil-less farming techniques, the market is anticipated to maintain its strong development trajectory. During this period, the market growth is anticipated to be boosted by the growing usage of hydroponic systems in commercial agriculture, including vertical farms and container farms. Moreover, the rising desire for locally grown and pesticide-free products is projected to increase the demand for hydroponic technology, spurring the rise of the market.
- Medium Term (2026 to 2029): Since several governments have started incentivizing and promoting the adoption of sustainable agriculture practices, the market is anticipated to have consistent development. Concerns over food security, climate change, and environmental degradation are expected to grow further. On the other hand, hydroponic technology can lessen the harmful effects of traditional farming on the environment. As a result, it is predicted to become more popular. Furthermore, the market is estimated to have plenty of development opportunities given the increased focus on urban agriculture and indoor farming.
- Long Term (2029 to 2033): As technological advancements and innovations continue to increase the effectiveness and productivity of hydroponic systems, the market is well positioned to provide tremendous growth potential. The introduction of smart and connected hydroponic systems, which make use of automation, data analytics, and other technologies, is anticipated to revolutionize the way plants are grown and harvested. This is likely to unlock new growth opportunities for the market. Also, given their ability to enable sustainable food production in alien circumstances, hydroponic systems are projected to be more in demand as space exploration and colonization become a bigger priority.
These factors are anticipated to support a 2X increase in the hydroponics market between 2023 and 2033. The market is projected to be worth US$ 5.70 billion by the end of 2033, according to FMI analysts.
| 2018 | US$ 2.39 billion |
| 2021 | US$ 2.48 billion |
| 2022 | US$ 2.67 billion |
| 2023 | US$ 2.78 billion |
| 2033 | US$ 5.70 billion |
Development of Hydroponics Market in the Asia Pacific
Due to the widespread use of hydroponics in China, Australia, South Korea, and other similar nations, Asia Pacific dominated the hydroponics market with a 37% share in 2020. Because of the expanding urban hydroponic farms, the market in China and India is likely to grow considerably throughout the forecast period.
Hydroponics is growing popularity in India, attracting an increasing number of farmers. Hydroponics is essentially a subset of hydroculture, which is a method of growing plants, usually crops, without soil by using nutritious mineral solutions dissolved in water as a solvent.
Even the minuscule of places, like as a balcony, may be used for hydroponic farming, which is soilless, water-based cultivation. Instead of using soil to feed plants, nutrient-rich water is used, which considerably decreases the drawbacks of soil-based approaches.
Find your sweet spots for generating winning opportunities in this market.
Talk to AnalystOpportunities abound in the Liquid System Segment
The liquid systems sector of the hydroponics market is predicted to develop at a quicker CAGR during the forecast period. The roots of the plants in this arrangement are immediately immersed in nutrient-rich water. Growing in huge opaque storage containers or buckets at home can do this.
Commercial producers employ rafts that float on a vast waterbed; much like a conveyor belt, with young plants placed on one side and moved along until ripe for harvest on the other. The plant platform is typically constructed of Styrofoam and floats directly in the fertiliser solution.
Comparative Analysis of Adjacent Hydroponics Market
Hydroponics Market:
|
Differentiating Aspects |
Hydroponics Market |
|
CAGR (2023 to 2033) |
7% |
|
Market Valuation in 2023 |
US$ 2.78 billion |
|
Projected Market Value in 2033 |
US$ 5.70 billion |
|
Growth Factors |
The rise in urbanization coupled with the shrinking of arable land |
|
Opportunities |
Government initiatives and support for sustainable agriculture |
|
Key Trends |
Integration of hydroponic systems with smart agriculture technologies |
Vertical Farming Market:
|
Differentiating Aspects |
Vertical Farming Market |
|
CAGR (2023 to 2033) |
25% |
|
Market Valuation in 2023 |
US$ 4.97 billion |
|
Projected Market Value in 2033 |
US$ 46.29 billion |
|
Growth Factors |
Increase in demand for locally grown, pesticide-free, and organic produce |
|
Opportunities |
Adoption of smart farming techniques such as IoT sensors and data analytics to optimize crop yields |
|
Key Trends |
Rise in partnership between vertical farming companies and food retailers, restaurants, and catering services |
Smart Agriculture Market:
|
Differentiating Aspects |
Smart Agriculture Market |
|
CAGR (2023 to 2033) |
9.4% |
|
Market Valuation in 2023 |
US$ 16.2 billion |
|
Projected Market Value in 2033 |
US$ 39.78 billion |
|
Growth Factors |
Need for sustainable agriculture practices and efficient use of resources |
|
Opportunities |
Integration of drones and robots for precision farming and crop monitoring |
|
Key Trends |
Use of blockchain technology for traceability and transparency in the supply chain |
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Key Determinants Generating Buzz of Hydroponics
Growing Interest in Exotic Vegetables and Fruits Amplifying Hydroponics System Adoption
A significant driver for the market for hydroponics is the high demand for exotic vegetables such as kale, lettuce, broccoli, cucumber, and cilantro that are used in multi-national and inter-continental cuisines. This is due to consumers' growing desire for organic and chemical-free food products. This factor helps the hydroponics market blossom. The developing world is putting the spotlight on technological advancements in order to boost productivity and thus strengthen market demand for hydroponic-based products.
Developing Countries Provide Lucrative Growth Prospects
Hydroponics farming is expected to expand quickly in emerging economies such as India, Brazil, South Africa, and Thailand. The developing markets, which are quickly becoming opportunity hubs for several global markets, grasp the maximum promise for headway in the global food and beverage industry.
With catastrophic population expansion, high urbanisation rates, and doubled disposable incomes resulting in improvements in the basic standard of living, emerging markets offer the significant possibility for producers to address customers' dietary shifts toward nutritional products while offering a wide range of confined tastes and needs.
This opens up new hydroponics market opportunities for producers all along the food value chain. Geographic expansion is no longer the supplementary strategic approach.
Sticking Points for Hydroponics Market
Large-Scale Farms Demand a Large Capital Investment
The initial investment needed to establish a hydroponic farm is significant; the equipment required for a hydroponic farm is comprehensive and often costly to purchase and maintain. The primary cost factors in a hydroponic farm are various types of equipment. The costs in this case only consider the farm's setup costs; however, when modifications are considered, it can result in a recurring cost for the farm because the equipment requires to be updated regularly every 3-4 years to enhance the farm's productivity and profitability. Therefore, this factor restrains the hydroponics market growth.
Debate over Certifying Hydroponic Produce as Organic
There has been discussion about certifying hydroponically grown crops as organic. Crops grown hydroponically in Europe cannot be labelled as "organic," whereas crops grown hydroponically in the United States can be labelled as organic if they meet other USDA certification criteria. European hydroponic producers who use approved organic inputs still be able to export to the United States. This inhibits the adoption of hydroponics as well as the hydroponics market growth.
Hydroponics Market Goes Global: A Comprehensive Analysis of the Market by Country
Sustainable Farming Goes High-tech with Hydroponics in the United States
Hydroponics is a new commercial food production method that involves growing plants at home in nutrient solutions as root media. Learn about the recent food preparation techniques in a controlled, soil-free environment. Today, over 2,300 farms in the United States produce hydroponic crops, though they make up a small portion of the $5.2 billion fruit and vegetable market.
The United States hydroponics market is a burgeoning industry that has been experiencing significant growth in recent years. In 2022, the country accounted for 19.3% of the share of the global market. Key development driving the market in the United States is the increasing trend toward sustainable agriculture practices. Concerns over climate change, water shortages, and the need for effective and sustainable food production have given rise to the hydroponics sector, which has arisen as a response.
Hydroponics technology offers a more sustainable approach to producing crops. By lowering the environmental effect associated with conventional farming methods, the adoption of hydroponics technology is poised to transform the entire agriculture sector in the United States.
The market is booming as a result of the country's expanding population, which is reducing the amount of arable land that can be farmed. This has encouraged the use of indoor vertical farms or soilless farming. In the last 54 years, there has been a 3% reduction in land area, according to the World Bank, which could result in more urbanization and the use of hydroponics in the future.
In the United States, the demand for greenhouse tomatoes is something that fuels the growth of the hydroponics market. Hydroponic farms with a size between 1/8 and 1 acre are now operated by families or small businesses around the country. Since traditional vegetable vendors' supplies are frequently disrupted by the weather and monsoon seasons, hydroponics provides a continuous supply. Due to their need for high-quality vegetables and willingness to pay more, upscale cafés and restaurants have an exceptional off-take and superior margins.
The revenue of the hydroponic crop farming sector is positively impacted by a rise in vegetable prices. Price changes are a reflection of different factors, including supply levels, downstream processing activity, global demand activity, and more. In 2023, the price of vegetables is predicted to rise, offering the sector a possible opportunity. Moreover, since there is a huge demand for hydroponically grown vegetables, more farmers are switching from conventional farming to hydroponic farming.
Urban environments like New York are fostering market expansion with rooftop hydroponic plants. The development of hydroponic production systems that are cost-competitive with open-field agricultural methods is likely to have a significant impact on the future expansion of the hydroponics industry in the country.
Hydroponics Market Flourishes in the United Kingdom as Demand for Fresh, Local Produce Increases
The growth of the United Kingdom hydroponics market is projected to be phenomenal during the forecast period, 2023 to 2033, due to increasing technological innovation in farming methods. The rise of the hydroponics industry in the United Kingdom over the next five years is likely to also be fueled by an increase in demand for crops that could otherwise be impossible to cultivate on the country's soils. Hydroponics technology produces higher yields than conventional agricultural methods due to longer harvest cycles, which is projected to aid in the expansion of the United Kingdom hydroponics sector over the next ten years.
The United Kingdom hydroponics market is an intriguing and rapidly evolving landscape, replete with distinctive facets that have captured the attention of market players. The development of agricultural methods through technology is responsible for market expansion. In addition, a rise in the demand for non-cultivable crops on the nation's lands and longer harvest seasons compared to conventional agricultural methods have sparked a growth in the usage of hydroponics technology.
The growing desire for locally produced food offers a distinctive perspective on the hydroponics sector in the United Kingdom. Interest in locally grown food that is high-quality and sustainable has increased as the nation struggles with the effects of Brexit and the global supply chain that impacted thus. With its capacity to grow crops in a controlled and resource-efficient environment, hydroponics offers a reasonable solution to this demand.
In the next ten years, the market is expected to rise as a result of the surge in demand for crops that are ordinarily impossible to cultivate on the nation's lands. Furthermore, increased consumer awareness of the need for organic and innovative food crops, together with growing consumer demand for products of superior quality and high nutrition, all contribute to the market expansion. As a result, the market in the United Kingdom is projected to rise at a 7.5% CAGR during the forecast period.
Indoor Farming Goes Mainstream in Germany with Hydroponic Systems
Hydroponic systems are in high demand in Germany, a country known for its precise engineering and technological innovation. In this economic powerhouse of Europe, the hydroponics sector has been booming as more individuals adopt the precise of soilless farming. Since hydroponics provides so many benefits over conventional agricultural techniques, it has become popular in Germany. Germany held 9.9% of the global market share in 2022.
The two vertical farming systems, developed by the Fraunhofer Institute for Molecular Biology and Applied Ecology (IME), go beyond the state-of-the-art in indoor farming technology in terms of their design, automation, data management, productivity, and application opportunities. The solutions give the promotion of vertical farming a whole new foundation, not only in Germany but everywhere.
The government’s support for sustainable agriculture and promotion of green technology is fueling the Germany hydroponics market. The government has actively promoted the use of hydroponic systems by offering financial incentives and subsidies to farmers and producers. Germany is committed to decreasing its carbon footprint and advancing sustainable development. Hence, encouraging hydroponics is consistent with that objective.
Hydroponic Technology Makes Vertical Farming Popular in China
The burgeoning realm of hydroponics has indeed gained remarkable momentum in the market in China. The hydroponics industry has emerged as a rapidly growing sector in China’s agricultural landscape. To feed its expanding urban population, China is devoting a lot of effort to building vertical agricultural systems. It wants to lead the world in using these systems on an industrial basis. FMI estimates that the market in China could proliferate at a CAGR of 8% until 2033.
Its population is expected to reach 1.5 billion in 2030, and agricultural land is disappearing at an alarming rate of 300 km2/year as a result of natural disasters and bad land management. Nationwide, the amount of arable land has decreased to about 0.08ha/person, which is only 40% of the global average. In the meanwhile, there is a rising need for food, especially among the expanding, wealthy middle class, which has diverse dietary preferences. Also, the urban population is seeking clean, fresh food that is free of pesticides. Given all of these factors and the fact that the same trend is occurring all around the world, partially automated indoor farming is an essential component of the future.
The China hydroponics market has witnessed significant inflows of capital from both domestic and global investors. These investors are keen on capitalizing on the immense potential of this booming sector. In January 2019, JD.com and Mitsubishi announced their collaboration to establish what they claim is China's leading hydroponic plant facility. Nonetheless, in June 2022, Meteor unveiled its first significant hydroponics project in China. The project debuted a full line of Meteor Systems' lettuce-growing tools and technologies. The hydroponic method used by Meteor is more adaptable in terms of plant density and maintains construction, maintenance, and cleaning costs relatively low by dangling plant roots in a large nutrient pool that is rich in water and fertilizer.
Hydroponic System Offers Innovative Solutions to India’s Agricultural Challenges
Hydroponics is gaining considerable acceptance in India, luring a steadily rising number of farmers. Hydroponics is essentially a significant proportion of hydroculture, which is a technique for growing plants, typically crops, without soil by using nutritional mineral solutions dissolved in water as a solvent.
Hydroponic farming, which is soilless, water-based gardening, can be done on even the minimum of spaces, such as a balcony. Instead of employing soil to feed plants, crops are given nutrient-rich water, which greatly reduces the disadvantages of soil-based methods.
The India hydroponics market has become a hub of creativity as businesses and farmers embrace this ground-breaking method of farming. They have also come up with creative solutions to different problems that have long plagued conventional agricultural methods in India. The adoption of this technique has solved different problems in the country including water scarcity and soil degradation. Furthermore, the market has also benefitted from a supportive regulatory environment as the government has recognized the potential of this technology.
Large pharmaceutical businesses like Himalaya, Dabur, and Patanjali already use hydroponically grown herbs in their formulations. In parallel, there has been a sharp rise in the number of modern hydroponic farms and start-ups that are utilizing this method and elevating the agriculture sector in recent years. They are cultivating different plants, including medicinal and fragrant plants, berries, leafy greens, microgreens, and other plants, using a technological hydroponics system.
Urban farming has experienced growth in India as a result of the rising demand for healthy, chemical-free food in urban areas. Several firms nowadays, such as Barton Breeze, UrbanKisaan, Pind FreshTriton, Living Food Co., and Kaze Living Agro2o, leverage hydroponics. Urbaankisaan is actively developing a commercial hydroponics facility in Hyderabad that can produce 10 tons of harvest each month. They also have expansion plans for Mumbai and Bangalore. In order to address the rising demand for exotic and organic foods, regional producers and international technology suppliers are working together to create new commercial factories in Tier 1 cities in India. Thus, the market in India is expected to grow significantly, exhibiting a noteworthy CAGR of 13.4% through 2033.
Hydroponics Market: Unveiling Market Dynamics through Segment-wise Analysis
| Segment | Product Type |
| Attributes | Aggregate Systems |
| Global Value Share (2022) | 55% |
| Segment | Crops |
| Attributes | Tomatoes |
| Global Value Share (2022) | 21.6% |
How is the Hydroponics Market Performing by Product Type?
Given their widespread use across all indoor hydroponic growers and their affordability and ease of setup, aggregate systems retained the leading market share in 2022. The plants in these systems are supported by inert and solid media, such as peat, rock wool, vermiculite, sand, sawdust, perlite, or coconut coir. Drip, ebb, flow, and wick systems are few of the main technologies used in aggregation systems. The ebb and flow aggregate system is the highly popular and recommended of these because of its simplicity and inexpensive construction costs.
An open and a closed system are two subsets of the overall hydroponic system segment. With an open aggregate system, plants are transplanted into plastic troughs filled with inert support material while drip irrigation is employed to give a nutritional solution. Since the nutrient solution is not recycled, aggregate and sand cultivation are examples of open systems. In open systems, the surplus nutrient solution is often collected. Yet, the surplus is either dumped in evaporation ponds or used for irrigation instead of flowing to the plants. Because the nutrient solutions are not recycled, open systems are less sensitive to water salinity and the media utilized. Hence, open cultivation's impacts on production as well as the system's affordability for farmers are likely to be the main factors driving demand for this method.
What is the Achievement of the Hydroponics Market by Crops?
In 2022, the tomato category held the top spot in the market. One of the highly popular crops cultivated in a hydroponic system is the tomato. Hydroponic methods have been successfully marketed for tomato production, germination, and propagation. With the help of this technology, tomatoes can be grown in a controlled environment with less chance of bugs, faster development, and more fruit yield. The bulk of hydroponically grown tomatoes is produced by large and medium-sized producers. Future advances in the hydroponic tomato market are anticipated to be impacted by numerous market variables, including regulatory frameworks and technical advancements. Rockwool is the widely used technique for hydroponically producing tomatoes.
What Is The Behaviour Of The Hydroponics Market By Equipment?
The LED grow light segment is expected to grow at a significant CAGR in the hydroponics market during the study period. When using spectrum changeable LED grow lights, growers can experiment with light recipes to alter the flavour, size, and potency of their produce.
Growers have a lot of control over the spectrum, intensity, and a number of hours of light exposure. When using spectrum changeable LED lighting, all of these aspects are simple to regulate and modify. Growers can control all of these aspects with LED lights, whether customers want a sweeter or milder flavour, a stronger aroma, or a change in colour.
How is the Hydroponics Market Functioning by Input?
During the review period, the nutrient segment is projected to lead the hydroponics market in terms of market share.
The key nutrients required for plant growth are nitrogen, phosphorus, and potassium. A lack of these macronutrients causes plant discoloration, developmental problems, and scattered spots. Plants require more nitrogen during the vegetative stage to produce foliage. Nitrogen is primarily responsible for the deep green colour of healthy plant leaves.
Race of Dominance: Competitive Landscape Analysis of Hydroponics Market
The global hydroponics input provider market is highly concentrated, with key players accounting for the vast portion of hydroponics market share. Koninklijke Philips N.V., Argus Control Systems Ltd., American Hydroponics, Hydrodynamics International, Inc., and Lumigrow, Inc. are few of the market's prominent players.
The market for hydroponic systems output is highly fragmented, with the top five companies, including Bright Farms, Inc., FreshBox Farms, Pegasus Agritech, Village Farms International, Inc., and Thanet Earth, holding only 7.1% of the hydroponics market share, while the rest is split among numerous players. Circle Fresh Farms, Green Sense Farms Holdings Inc., Plenty Unlimited Inc., and others are among them.
Key players are employing a variety of strategies, including mergers and acquisitions, strategic agreements, and contracts, as well as developing, conducting experiments with, and trying to introduce newer, more efficient methods for constructing hydroponics systems.
The developing markets, which are constantly evolving into opportunity hubs for numerous global hydroponics markets, offer the extreme promise for advancement in the food and beverage sector. Due to a drastic increase in population, a high rate of urbanisation, and rising disposable incomes, emerging economies present better opportunity for producers to encounter dietary trends of consumers who are looking for nutritional items, while offering a wide range to restrained tastes and demands.
Recent Development
Product Launches and Expansions
|
Year |
May 2020 |
|
Key Player |
InFarm |
|
Strategy Employed |
New Store |
|
Details |
InFarm opened its new store in Nijmegen, the Netherlands, in May 2020. The facility is going to be built in numerous places such as supermarkets, restaurants, and distribution centres so that vegetables can be grown and harvested close to the point of sale. |
|
Year |
April 2020 |
|
Key Player |
Scotts Miracle |
|
Strategy Employed |
Relocation |
|
Details |
Due to a shortage of personal protective equipment, Scotts Miracle relocated its operations from Temecula, California to produce face shields in April 2020 in order to contribute to the fight against the Covid-19 outbreak. |
|
Year |
August 2019 |
|
Key Player |
LumiGrow Inc. |
|
Strategy Employed |
Product Launch |
|
Details |
LumiGrow Inc. launched a brand-new TopLight Hybrid smart fixture in August 2019. The Hybrids is likely to allow users to benefit from the enriched white spectrum, which is completely wireless and can be controlled by the company's SmartPAR software. |
Collaborations, Partnerships, and Agreements
|
Date |
April 2020 |
|
Key player |
Aerofarms |
|
Strategy |
Expansion |
|
Details |
Aerofarms began construction on the world's leading Aerofarms centre, which could span 90,000 square feet. The facility is dedicated to cutting-edge research and development equipment as well as the commercialization of locally desired crops. |
|
Date |
November 2019 |
|
Key player |
Aerospace |
|
Strategy |
Investment |
|
Details |
Aerospace invested USD 42 million in the construction of the world's leading indoor farming facility at Cane Creek Center, a joint industrial park for Danville and Pittsylvania County. |
Acquisitions and Mergers
|
Date |
August 2019 |
|
Key player |
Terra Tech Corp |
|
Strategy |
Expansion |
|
Details |
Terra Tech Corp began construction on its brand-new facility in Santa Ana, California, US. The facility is going to be a large-scale, one-of-a-kind cannabis complex aimed at increasing the company's sales through increased population and traffic. |
Key Players
- AeroFarms, LLC
- Scotts Miracle Gro
- AmHydro
- Emerald Harvest
- Argus Control Systems Limited
- Hydroponic Systems International
- Emirates Hydroponics Farms
- Advanced Nutrients (Canada)
- Freight Farms, Inc.
- Vitalink (United Kingdom)
- Green Sense Farms Holdings, Inc.
- Heliospectra AB
- LumiGrow, Inc.
- Signify Holding B.V.
- Hydrofarm LLC
- Terra Tech Corp
Hydroponics Market Segmentation
By Product Type:
- Aggregate Systems
- Liquid Systems
By Equipment:
- HVAC
- Irrigation Systems
- Control Systems
- LED grow Lights
- Material Handing
- Others
By Input:
- Nutrients
- Rockwool
By Crop Type:
- Tomato
- Lettuce and Leafy Vegetables
- Pepper
- Cucumber
- Microgreens
- Herbs
- Fruits
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
Frequently Asked Questions
What is the Current Valuation of Global Hydroponics Market?
The market is estimated to be valued US$ 2.78 billion in 2023.
What is the Historical Scenario of Global Hydroponics Market?
The market recorded US$ 2.67 billion in 2022, exhibiting a CAGR of 2.8%.
What is the Growth Outlook for the Global Hydroponics Market?
The global market is expected to progress at a CAGR of 7%.
Which Region is Estimated to Clinch the Maximum Share in the Global Hydroponics Market?
Asia Pacific is expected to hold the maximum share in the global market.
What is the Future Prospect of the Global Hydroponics Market?
The global market is predicted to account for US$ 5.70 billion by 2033.
Table of Content
1. Executive Summary | Hydroponics Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Type, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Type, 2023 to 2033 5.3.1. Aggregate Hydroponic System 5.3.2. Liquid Hydroponic System 5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Crop Type 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Crop Type, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Crop Type, 2023 to 2033 6.3.1. Vegetables 6.3.2. Herbs 6.3.3. Fruits 6.3.4. Flowers 6.4. Y-o-Y Growth Trend Analysis By Crop Type, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Crop Type, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Equipment 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) Analysis By Equipment , 2018 to 2022 7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Equipment , 2023 to 2033 7.3.1. HVAC 7.3.2. Irrigation Systems 7.3.3. Control Systems 7.3.4. LED grow Lights 7.3.5. Material Handling Equipment 7.4. Y-o-Y Growth Trend Analysis By Equipment , 2018 to 2022 7.5. Absolute $ Opportunity Analysis By Equipment , 2023 to 2033 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022 8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. South Asia 8.3.5. East Asia 8.3.6. Oceania 8.3.7. MEA 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. The USA 9.2.1.2. Canada 9.2.2. By Type 9.2.3. By Crop Type 9.2.4. By Equipment 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Type 9.3.3. By Crop Type 9.3.4. By Equipment 9.4. Key Takeaways 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Type 10.2.3. By Crop Type 10.2.4. By Equipment 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Type 10.3.3. By Crop Type 10.3.4. By Equipment 10.4. Key Takeaways 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. United Kingdom 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Europe 11.2.2. By Type 11.2.3. By Crop Type 11.2.4. By Equipment 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Type 11.3.3. By Crop Type 11.3.4. By Equipment 11.4. Key Takeaways 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Malaysia 12.2.1.3. Singapore 12.2.1.4. Thailand 12.2.1.5. Rest of South Asia 12.2.2. By Type 12.2.3. By Crop Type 12.2.4. By Equipment 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Type 12.3.3. By Crop Type 12.3.4. By Equipment 12.4. Key Takeaways 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Type 13.2.3. By Crop Type 13.2.4. By Equipment 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Type 13.3.3. By Crop Type 13.3.4. By Equipment 13.4. Key Takeaways 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 14.2.1. By Country 14.2.1.1. Australia 14.2.1.2. New Zealand 14.2.2. By Type 14.2.3. By Crop Type 14.2.4. By Equipment 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Type 14.3.3. By Crop Type 14.3.4. By Equipment 14.4. Key Takeaways 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 15.2.1. By Country 15.2.1.1. GCC Countries 15.2.1.2. South Africa 15.2.1.3. Israel 15.2.1.4. Rest of MEA 15.2.2. By Type 15.2.3. By Crop Type 15.2.4. By Equipment 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Type 15.3.3. By Crop Type 15.3.4. By Equipment 15.4. Key Takeaways 16. Key Countries Market Analysis 16.1. USA 16.1.1. Pricing Analysis 16.1.2. Market Share Analysis, 2022 16.1.2.1. By Type 16.1.2.2. By Crop Type 16.1.2.3. By Equipment 16.2. Canada 16.2.1. Pricing Analysis 16.2.2. Market Share Analysis, 2022 16.2.2.1. By Type 16.2.2.2. By Crop Type 16.2.2.3. By Equipment 16.3. Brazil 16.3.1. Pricing Analysis 16.3.2. Market Share Analysis, 2022 16.3.2.1. By Type 16.3.2.2. By Crop Type 16.3.2.3. By Equipment 16.4. Mexico 16.4.1. Pricing Analysis 16.4.2. Market Share Analysis, 2022 16.4.2.1. By Type 16.4.2.2. By Crop Type 16.4.2.3. By Equipment 16.5. Germany 16.5.1. Pricing Analysis 16.5.2. Market Share Analysis, 2022 16.5.2.1. By Type 16.5.2.2. By Crop Type 16.5.2.3. By Equipment 16.6. United Kingdom 16.6.1. Pricing Analysis 16.6.2. Market Share Analysis, 2022 16.6.2.1. By Type 16.6.2.2. By Crop Type 16.6.2.3. By Equipment 16.7. France 16.7.1. Pricing Analysis 16.7.2. Market Share Analysis, 2022 16.7.2.1. By Type 16.7.2.2. By Crop Type 16.7.2.3. By Equipment 16.8. Spain 16.8.1. Pricing Analysis 16.8.2. Market Share Analysis, 2022 16.8.2.1. By Type 16.8.2.2. By Crop Type 16.8.2.3. By Equipment 16.9. Italy 16.9.1. Pricing Analysis 16.9.2. Market Share Analysis, 2022 16.9.2.1. By Type 16.9.2.2. By Crop Type 16.9.2.3. By Equipment 16.10. India 16.10.1. Pricing Analysis 16.10.2. Market Share Analysis, 2022 16.10.2.1. By Type 16.10.2.2. By Crop Type 16.10.2.3. By Equipment 16.11. Malaysia 16.11.1. Pricing Analysis 16.11.2. Market Share Analysis, 2022 16.11.2.1. By Type 16.11.2.2. By Crop Type 16.11.2.3. By Equipment 16.12. Singapore 16.12.1. Pricing Analysis 16.12.2. Market Share Analysis, 2022 16.12.2.1. By Type 16.12.2.2. By Crop Type 16.12.2.3. By Equipment 16.13. Thailand 16.13.1. Pricing Analysis 16.13.2. Market Share Analysis, 2022 16.13.2.1. By Type 16.13.2.2. By Crop Type 16.13.2.3. By Equipment 16.14. China 16.14.1. Pricing Analysis 16.14.2. Market Share Analysis, 2022 16.14.2.1. By Type 16.14.2.2. By Crop Type 16.14.2.3. By Equipment 16.15. Japan 16.15.1. Pricing Analysis 16.15.2. Market Share Analysis, 2022 16.15.2.1. By Type 16.15.2.2. By Crop Type 16.15.2.3. By Equipment 16.16. South Korea 16.16.1. Pricing Analysis 16.16.2. Market Share Analysis, 2022 16.16.2.1. By Type 16.16.2.2. By Crop Type 16.16.2.3. By Equipment 16.17. Australia 16.17.1. Pricing Analysis 16.17.2. Market Share Analysis, 2022 16.17.2.1. By Type 16.17.2.2. By Crop Type 16.17.2.3. By Equipment 16.18. New Zealand 16.18.1. Pricing Analysis 16.18.2. Market Share Analysis, 2022 16.18.2.1. By Type 16.18.2.2. By Crop Type 16.18.2.3. By Equipment 16.19. GCC Countries 16.19.1. Pricing Analysis 16.19.2. Market Share Analysis, 2022 16.19.2.1. By Type 16.19.2.2. By Crop Type 16.19.2.3. By Equipment 16.20. South Africa 16.20.1. Pricing Analysis 16.20.2. Market Share Analysis, 2022 16.20.2.1. By Type 16.20.2.2. By Crop Type 16.20.2.3. By Equipment 16.21. Israel 16.21.1. Pricing Analysis 16.21.2. Market Share Analysis, 2022 16.21.2.1. By Type 16.21.2.2. By Crop Type 16.21.2.3. By Equipment 17. Market Structure Analysis 17.1. Competition Dashboard 17.2. Competition Benchmarking 17.3. Market Share Analysis of Top Players 17.3.1. By Regional 17.3.2. By Type 17.3.3. By Crop Type 17.3.4. By Equipment 18. Competition Analysis 18.1. Competition Deep Dive 18.1.1. AeroFarms, LLC 18.1.1.1. Overview 18.1.1.2. Product Portfolio 18.1.1.3. Profitability by Market Segments 18.1.1.4. Sales Footprint 18.1.1.5. Strategy Overview 18.1.1.5.1. Marketing Strategy 18.1.2. Scotts Miracle Gro 18.1.2.1. Overview 18.1.2.2. Product Portfolio 18.1.2.3. Profitability by Market Segments 18.1.2.4. Sales Footprint 18.1.2.5. Strategy Overview 18.1.2.5.1. Marketing Strategy 18.1.3. AmHydro 18.1.3.1. Overview 18.1.3.2. Product Portfolio 18.1.3.3. Profitability by Market Segments 18.1.3.4. Sales Footprint 18.1.3.5. Strategy Overview 18.1.3.5.1. Marketing Strategy 18.1.4. Emerald Harvest 18.1.4.1. Overview 18.1.4.2. Product Portfolio 18.1.4.3. Profitability by Market Segments 18.1.4.4. Sales Footprint 18.1.4.5. Strategy Overview 18.1.4.5.1. Marketing Strategy 18.1.5. Argus Control Systems Limited 18.1.5.1. Overview 18.1.5.2. Product Portfolio 18.1.5.3. Profitability by Market Segments 18.1.5.4. Sales Footprint 18.1.5.5. Strategy Overview 18.1.5.5.1. Marketing Strategy 18.1.6. Hydroponic Systems International 18.1.6.1. Overview 18.1.6.2. Product Portfolio 18.1.6.3. Profitability by Market Segments 18.1.6.4. Sales Footprint 18.1.6.5. Strategy Overview 18.1.6.5.1. Marketing Strategy 18.1.7. Emirates Farms 18.1.7.1. Overview 18.1.7.2. Product Portfolio 18.1.7.3. Profitability by Market Segments 18.1.7.4. Sales Footprint 18.1.7.5. Strategy Overview 18.1.7.5.1. Marketing Strategy 18.1.8. Advanced Nutrients 18.1.8.1. Overview 18.1.8.2. Product Portfolio 18.1.8.3. Profitability by Market Segments 18.1.8.4. Sales Footprint 18.1.8.5. Strategy Overview 18.1.8.5.1. Marketing Strategy 18.1.9. Freight Farms, Inc. 18.1.9.1. Overview 18.1.9.2. Product Portfolio 18.1.9.3. Profitability by Market Segments 18.1.9.4. Sales Footprint 18.1.9.5. Strategy Overview 18.1.9.5.1. Marketing Strategy 18.1.10. Green Sense Farms Holdings, Inc. 18.1.10.1. Overview 18.1.10.2. Product Portfolio 18.1.10.3. Profitability by Market Segments 18.1.10.4. Sales Footprint 18.1.10.5. Strategy Overview 18.1.10.5.1. Marketing Strategy 18.1.11. Heliospectra AB 18.1.11.1. Overview 18.1.11.2. Product Portfolio 18.1.11.3. Profitability by Market Segments 18.1.11.4. Sales Footprint 18.1.11.5. Strategy Overview 18.1.11.5.1. Marketing Strategy 18.1.12. LumiGrow, Inc. 18.1.12.1. Overview 18.1.12.2. Product Portfolio 18.1.12.3. Profitability by Market Segments 18.1.12.4. Sales Footprint 18.1.12.5. Strategy Overview 18.1.12.5.1. Marketing Strategy 18.1.13. Signify Holding B.V. 18.1.13.1. Overview 18.1.13.2. Product Portfolio 18.1.13.3. Profitability by Market Segments 18.1.13.4. Sales Footprint 18.1.13.5. Strategy Overview 18.1.13.5.1. Marketing Strategy 18.1.14. Hydrofarm LLC 18.1.14.1. Overview 18.1.14.2. Product Portfolio 18.1.14.3. Profitability by Market Segments 18.1.14.4. Sales Footprint 18.1.14.5. Strategy Overview 18.1.14.5.1. Marketing Strategy 19. Assumptions & Acronyms Used 20. Research Methodology
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List of Tables
Table 1: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033 Table 2: Global Market Value (US$ Million) Forecast by Type, 2018 to 2033 Table 3: Global Market Value (US$ Million) Forecast by Crop Type, 2018 to 2033 Table 4: Global Market Value (US$ Million) Forecast by Equipment , 2018 to 2033 Table 5: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033 Table 6: North America Market Value (US$ Million) Forecast by Type, 2018 to 2033 Table 7: North America Market Value (US$ Million) Forecast by Crop Type, 2018 to 2033 Table 8: North America Market Value (US$ Million) Forecast by Equipment , 2018 to 2033 Table 9: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033 Table 10: Latin America Market Value (US$ Million) Forecast by Type, 2018 to 2033 Table 11: Latin America Market Value (US$ Million) Forecast by Crop Type, 2018 to 2033 Table 12: Latin America Market Value (US$ Million) Forecast by Equipment , 2018 to 2033 Table 13: Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033 Table 14: Europe Market Value (US$ Million) Forecast by Type, 2018 to 2033 Table 15: Europe Market Value (US$ Million) Forecast by Crop Type, 2018 to 2033 Table 16: Europe Market Value (US$ Million) Forecast by Equipment , 2018 to 2033 Table 17: South Asia Market Value (US$ Million) Forecast by Country, 2018 to 2033 Table 18: South Asia Market Value (US$ Million) Forecast by Type, 2018 to 2033 Table 19: South Asia Market Value (US$ Million) Forecast by Crop Type, 2018 to 2033 Table 20: South Asia Market Value (US$ Million) Forecast by Equipment , 2018 to 2033 Table 21: East Asia Market Value (US$ Million) Forecast by Country, 2018 to 2033 Table 22: East Asia Market Value (US$ Million) Forecast by Type, 2018 to 2033 Table 23: East Asia Market Value (US$ Million) Forecast by Crop Type, 2018 to 2033 Table 24: East Asia Market Value (US$ Million) Forecast by Equipment , 2018 to 2033 Table 25: Oceania Market Value (US$ Million) Forecast by Country, 2018 to 2033 Table 26: Oceania Market Value (US$ Million) Forecast by Type, 2018 to 2033 Table 27: Oceania Market Value (US$ Million) Forecast by Crop Type, 2018 to 2033 Table 28: Oceania Market Value (US$ Million) Forecast by Equipment , 2018 to 2033 Table 29: MEA Market Value (US$ Million) Forecast by Country, 2018 to 2033 Table 30: MEA Market Value (US$ Million) Forecast by Type, 2018 to 2033 Table 31: MEA Market Value (US$ Million) Forecast by Crop Type, 2018 to 2033 Table 32: MEA Market Value (US$ Million) Forecast by Equipment , 2018 to 2033
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Figure 1: Global Market Value (US$ Million) by Type, 2023 to 2033 Figure 2: Global Market Value (US$ Million) by Crop Type, 2023 to 2033 Figure 3: Global Market Value (US$ Million) by Equipment , 2023 to 2033 Figure 4: Global Market Value (US$ Million) by Region, 2023 to 2033 Figure 5: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033 Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033 Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033 Figure 8: Global Market Value (US$ Million) Analysis by Type, 2018 to 2033 Figure 9: Global Market Value Share (%) and BPS Analysis by Type, 2023 to 2033 Figure 10: Global Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033 Figure 11: Global Market Value (US$ Million) Analysis by Crop Type, 2018 to 2033 Figure 12: Global Market Value Share (%) and BPS Analysis by Crop Type, 2023 to 2033 Figure 13: Global Market Y-o-Y Growth (%) Projections by Crop Type, 2023 to 2033 Figure 14: Global Market Value (US$ Million) Analysis by Equipment , 2018 to 2033 Figure 15: Global Market Value Share (%) and BPS Analysis by Equipment , 2023 to 2033 Figure 16: Global Market Y-o-Y Growth (%) Projections by Equipment , 2023 to 2033 Figure 17: Global Market Attractiveness by Type, 2023 to 2033 Figure 18: Global Market Attractiveness by Crop Type, 2023 to 2033 Figure 19: Global Market Attractiveness by Equipment , 2023 to 2033 Figure 20: Global Market Attractiveness by Region, 2023 to 2033 Figure 21: North America Market Value (US$ Million) by Type, 2023 to 2033 Figure 22: North America Market Value (US$ Million) by Crop Type, 2023 to 2033 Figure 23: North America Market Value (US$ Million) by Equipment , 2023 to 2033 Figure 24: North America Market Value (US$ Million) by Country, 2023 to 2033 Figure 25: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033 Figure 26: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033 Figure 27: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033 Figure 28: North America Market Value (US$ Million) Analysis by Type, 2018 to 2033 Figure 29: North America Market Value Share (%) and BPS Analysis by Type, 2023 to 2033 Figure 30: North America Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033 Figure 31: North America Market Value (US$ Million) Analysis by Crop Type, 2018 to 2033 Figure 32: North America Market Value Share (%) and BPS Analysis by Crop Type, 2023 to 2033 Figure 33: North America Market Y-o-Y Growth (%) Projections by Crop Type, 2023 to 2033 Figure 34: North America Market Value (US$ Million) Analysis by Equipment , 2018 to 2033 Figure 35: North America Market Value Share (%) and BPS Analysis by Equipment , 2023 to 2033 Figure 36: North America Market Y-o-Y Growth (%) Projections by Equipment , 2023 to 2033 Figure 37: North America Market Attractiveness by Type, 2023 to 2033 Figure 38: North America Market Attractiveness by Crop Type, 2023 to 2033 Figure 39: North America Market Attractiveness by Equipment , 2023 to 2033 Figure 40: North America Market Attractiveness by Country, 2023 to 2033 Figure 41: Latin America Market Value (US$ Million) by Type, 2023 to 2033 Figure 42: Latin America Market Value (US$ Million) by Crop Type, 2023 to 2033 Figure 43: Latin America Market Value (US$ Million) by Equipment , 2023 to 2033 Figure 44: Latin America Market Value (US$ Million) by Country, 2023 to 2033 Figure 45: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033 Figure 46: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033 Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033 Figure 48: Latin America Market Value (US$ Million) Analysis by Type, 2018 to 2033 Figure 49: Latin America Market Value Share (%) and BPS Analysis by Type, 2023 to 2033 Figure 50: Latin America Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033 Figure 51: Latin America Market Value (US$ Million) Analysis by Crop Type, 2018 to 2033 Figure 52: Latin America Market Value Share (%) and BPS Analysis by Crop Type, 2023 to 2033 Figure 53: Latin America Market Y-o-Y Growth (%) Projections by Crop Type, 2023 to 2033 Figure 54: Latin America Market Value (US$ Million) Analysis by Equipment , 2018 to 2033 Figure 55: Latin America Market Value Share (%) and BPS Analysis by Equipment , 2023 to 2033 Figure 56: Latin America Market Y-o-Y Growth (%) Projections by Equipment , 2023 to 2033 Figure 57: Latin America Market Attractiveness by Type, 2023 to 2033 Figure 58: Latin America Market Attractiveness by Crop Type, 2023 to 2033 Figure 59: Latin America Market Attractiveness by Equipment , 2023 to 2033 Figure 60: Latin America Market Attractiveness by Country, 2023 to 2033 Figure 61: Europe Market Value (US$ Million) by Type, 2023 to 2033 Figure 62: Europe Market Value (US$ Million) by Crop Type, 2023 to 2033 Figure 63: Europe Market Value (US$ Million) by Equipment , 2023 to 2033 Figure 64: Europe Market Value (US$ Million) by Country, 2023 to 2033 Figure 65: Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033 Figure 66: Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033 Figure 67: Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033 Figure 68: Europe Market Value (US$ Million) Analysis by Type, 2018 to 2033 Figure 69: Europe Market Value Share (%) and BPS Analysis by Type, 2023 to 2033 Figure 70: Europe Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033 Figure 71: Europe Market Value (US$ Million) Analysis by Crop Type, 2018 to 2033 Figure 72: Europe Market Value Share (%) and BPS Analysis by Crop Type, 2023 to 2033 Figure 73: Europe Market Y-o-Y Growth (%) Projections by Crop Type, 2023 to 2033 Figure 74: Europe Market Value (US$ Million) Analysis by Equipment , 2018 to 2033 Figure 75: Europe Market Value Share (%) and BPS Analysis by Equipment , 2023 to 2033 Figure 76: Europe Market Y-o-Y Growth (%) Projections by Equipment , 2023 to 2033 Figure 77: Europe Market Attractiveness by Type, 2023 to 2033 Figure 78: Europe Market Attractiveness by Crop Type, 2023 to 2033 Figure 79: Europe Market Attractiveness by Equipment , 2023 to 2033 Figure 80: Europe Market Attractiveness by Country, 2023 to 2033 Figure 81: South Asia Market Value (US$ Million) by Type, 2023 to 2033 Figure 82: South Asia Market Value (US$ Million) by Crop Type, 2023 to 2033 Figure 83: South Asia Market Value (US$ Million) by Equipment , 2023 to 2033 Figure 84: South Asia Market Value (US$ Million) by Country, 2023 to 2033 Figure 85: South Asia Market Value (US$ Million) Analysis by Country, 2018 to 2033 Figure 86: South Asia Market Value Share (%) and BPS Analysis by Country, 2023 to 2033 Figure 87: South Asia Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033 Figure 88: South Asia Market Value (US$ Million) Analysis by Type, 2018 to 2033 Figure 89: South Asia Market Value Share (%) and BPS Analysis by Type, 2023 to 2033 Figure 90: South Asia Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033 Figure 91: South Asia Market Value (US$ Million) Analysis by Crop Type, 2018 to 2033 Figure 92: South Asia Market Value Share (%) and BPS Analysis by Crop Type, 2023 to 2033 Figure 93: South Asia Market Y-o-Y Growth (%) Projections by Crop Type, 2023 to 2033 Figure 94: South Asia Market Value (US$ Million) Analysis by Equipment , 2018 to 2033 Figure 95: South Asia Market Value Share (%) and BPS Analysis by Equipment , 2023 to 2033 Figure 96: South Asia Market Y-o-Y Growth (%) Projections by Equipment , 2023 to 2033 Figure 97: South Asia Market Attractiveness by Type, 2023 to 2033 Figure 98: South Asia Market Attractiveness by Crop Type, 2023 to 2033 Figure 99: South Asia Market Attractiveness by Equipment , 2023 to 2033 Figure 100: South Asia Market Attractiveness by Country, 2023 to 2033 Figure 101: East Asia Market Value (US$ Million) by Type, 2023 to 2033 Figure 102: East Asia Market Value (US$ Million) by Crop Type, 2023 to 2033 Figure 103: East Asia Market Value (US$ Million) by Equipment , 2023 to 2033 Figure 104: East Asia Market Value (US$ Million) by Country, 2023 to 2033 Figure 105: East Asia Market Value (US$ Million) Analysis by Country, 2018 to 2033 Figure 106: East Asia Market Value Share (%) and BPS Analysis by Country, 2023 to 2033 Figure 107: East Asia Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033 Figure 108: East Asia Market Value (US$ Million) Analysis by Type, 2018 to 2033 Figure 109: East Asia Market Value Share (%) and BPS Analysis by Type, 2023 to 2033 Figure 110: East Asia Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033 Figure 111: East Asia Market Value (US$ Million) Analysis by Crop Type, 2018 to 2033 Figure 112: East Asia Market Value Share (%) and BPS Analysis by Crop Type, 2023 to 2033 Figure 113: East Asia Market Y-o-Y Growth (%) Projections by Crop Type, 2023 to 2033 Figure 114: East Asia Market Value (US$ Million) Analysis by Equipment , 2018 to 2033 Figure 115: East Asia Market Value Share (%) and BPS Analysis by Equipment , 2023 to 2033 Figure 116: East Asia Market Y-o-Y Growth (%) Projections by Equipment , 2023 to 2033 Figure 117: East Asia Market Attractiveness by Type, 2023 to 2033 Figure 118: East Asia Market Attractiveness by Crop Type, 2023 to 2033 Figure 119: East Asia Market Attractiveness by Equipment , 2023 to 2033 Figure 120: East Asia Market Attractiveness by Country, 2023 to 2033 Figure 121: Oceania Market Value (US$ Million) by Type, 2023 to 2033 Figure 122: Oceania Market Value (US$ Million) by Crop Type, 2023 to 2033 Figure 123: Oceania Market Value (US$ Million) by Equipment , 2023 to 2033 Figure 124: Oceania Market Value (US$ Million) by Country, 2023 to 2033 Figure 125: Oceania Market Value (US$ Million) Analysis by Country, 2018 to 2033 Figure 126: Oceania Market Value Share (%) and BPS Analysis by Country, 2023 to 2033 Figure 127: Oceania Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033 Figure 128: Oceania Market Value (US$ Million) Analysis by Type, 2018 to 2033 Figure 129: Oceania Market Value Share (%) and BPS Analysis by Type, 2023 to 2033 Figure 130: Oceania Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033 Figure 131: Oceania Market Value (US$ Million) Analysis by Crop Type, 2018 to 2033 Figure 132: Oceania Market Value Share (%) and BPS Analysis by Crop Type, 2023 to 2033 Figure 133: Oceania Market Y-o-Y Growth (%) Projections by Crop Type, 2023 to 2033 Figure 134: Oceania Market Value (US$ Million) Analysis by Equipment , 2018 to 2033 Figure 135: Oceania Market Value Share (%) and BPS Analysis by Equipment , 2023 to 2033 Figure 136: Oceania Market Y-o-Y Growth (%) Projections by Equipment , 2023 to 2033 Figure 137: Oceania Market Attractiveness by Type, 2023 to 2033 Figure 138: Oceania Market Attractiveness by Crop Type, 2023 to 2033 Figure 139: Oceania Market Attractiveness by Equipment , 2023 to 2033 Figure 140: Oceania Market Attractiveness by Country, 2023 to 2033 Figure 141: MEA Market Value (US$ Million) by Type, 2023 to 2033 Figure 142: MEA Market Value (US$ Million) by Crop Type, 2023 to 2033 Figure 143: MEA Market Value (US$ Million) by Equipment , 2023 to 2033 Figure 144: MEA Market Value (US$ Million) by Country, 2023 to 2033 Figure 145: MEA Market Value (US$ Million) Analysis by Country, 2018 to 2033 Figure 146: MEA Market Value Share (%) and BPS Analysis by Country, 2023 to 2033 Figure 147: MEA Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033 Figure 148: MEA Market Value (US$ Million) Analysis by Type, 2018 to 2033 Figure 149: MEA Market Value Share (%) and BPS Analysis by Type, 2023 to 2033 Figure 150: MEA Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033 Figure 151: MEA Market Value (US$ Million) Analysis by Crop Type, 2018 to 2033 Figure 152: MEA Market Value Share (%) and BPS Analysis by Crop Type, 2023 to 2033 Figure 153: MEA Market Y-o-Y Growth (%) Projections by Crop Type, 2023 to 2033 Figure 154: MEA Market Value (US$ Million) Analysis by Equipment , 2018 to 2033 Figure 155: MEA Market Value Share (%) and BPS Analysis by Equipment , 2023 to 2033 Figure 156: MEA Market Y-o-Y Growth (%) Projections by Equipment , 2023 to 2033 Figure 157: MEA Market Attractiveness by Type, 2023 to 2033 Figure 158: MEA Market Attractiveness by Crop Type, 2023 to 2033 Figure 159: MEA Market Attractiveness by Equipment , 2023 to 2033 Figure 160: MEA Market Attractiveness by Country, 2023 to 2033
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