Hydroponics Nutrients Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.10 Billion |
| Market Size (2029) | USD 2.80 Billion |
| CAGR (2024 - 2029) | 6.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Hydroponics Nutrients Market Analysis
The Hydroponics Nutrients Market size is estimated at USD 2.10 billion in 2024, and is expected to reach USD 2.80 billion by 2029, at a CAGR of 6.30% during the forecast period (2024-2029).
Increasing nutritional demands and a global shift towards fresh produce put pressure on arable land worldwide. This trend has led to increased adoption of hydroponics, a cultivation method that benefits the environment and produces higher crop yields than traditional open-field farming. In regions with challenging climates for conventional agriculture, hydroponics offers a sustainable solution for fresh produce cultivation. For example, the United Arab Emirates (UAE), a country with a predominantly desert landscape, imports 90% of its food. In 2023, Pure Food Technology, a UAE-based startup, developed the country's first hydroponic vertical farm, integrating artificial intelligence, solar energy, robotics, and 3D printing technologies. This initiative aims to transform the UAE from a net importer to a net exporter of plant-based food.
The water-soluble nature of nutrients used in hydroponics is driving the hydroponic nutrients market. Production costs are rising as global agricultural land decreases and crops face threats from pests and natural disasters. According to the Food and Agriculture Organization (FAO), global agricultural land stood at 4,781 million hectares in 2022. This situation has spurred global investments in commercial hydroponic systems. Hydroponics offers a viable solution for food security, efficiently utilizing space and providing accessibility to both urban and rural landless individuals.
North America dominates the global hydroponics market, while Asia-Pacific is experiencing the fastest growth. Japan, India, and China are leading agricultural innovation in the region, with major companies increasing research and development in hydroponic technologies. In 2024, the Chinese government supported Dominica's agriculture sector by providing equipment worth USD 750,000 including two hydroponics demonstration systems. This equipment aligns with government efforts to modernize agricultural production systems and meet the island's increasing demand for fresh vegetables.
Hydroponics Nutrients Market Trends
Tomatoes Are Widely Cultivated Through Hydroponics
Tomatoes are one of the most widely cultivated crops using hydroponic systems worldwide. These systems have proven commercially successful for seed propagation, germination, and tomato production. Hydroponic cultivation allows growers to control the environment, reducing disease risks, accelerating growth, and increasing fruit yield. Recognizing this potential, domestic tomato producers in various countries are rapidly expanding or starting hydroponic operations. For example, in 2024, Novagric implemented a hydroponic greenhouse project for tomato cultivation in Eastern Europe, offering agronomist engineer assistance to support entrepreneurs.
Different growth phases of tomatoes require specific nutritional needs, necessitating tailored nutrient solutions for each developmental stage. This approach optimizes growth and drives the hydroponic nutrient market, contributing to the overall market's commercialization. Medium and large-scale growers are the primary players in hydroponic tomato production. Future market dynamics, including technological advancements and regulatory changes, will influence the hydroponic tomato market's direction. Rockwool is the most commonly used medium for hydroponic tomato cultivation. For example, the ICL group has "Fertiflow Tomato-II" a water-soluble nutrition product for hydroponic tomato production. As tomato productivity increases through hydroponic methods, the market for hydroponic nutrients is expected to grow in the coming years.
North America has Significant Opportunities' for Market Growth
The rising demand for greenhouse tomatoes in the US is fueling the growth of hydroponic operations, especially in urban areas like New York. High-end food establishments are driving this trend, as consumers are willing to pay more for premium quality hydroponically grown vegetables. This growing demand is encouraging producers to shift towards hydroponic methods. North America accounts for approximately 35% of the vertical farming market, and according to Agri Farming, over 2,300 farms in the United States are growing hydroponic crops.
In Canada, glasshouses primarily use hydroponics for vegetable cultivation. In response to changing consumer preferences and concerns about food pricing and availability, greenhouses are emerging nationwide. Canadian hydroponic systems, using rock wool, perlite, and Nutrient Film Technique (NFT) methods, cultivate tomatoes, cucumbers, and bell peppers. Canadian commercial vegetable producers prefer hydroponics due to its efficiency in managing larger production areas and controlling inputs, diseases, and pests. For example, in 2023, Ottawa-based company Growcer Inc. operated more than 70 hydroponic farms producing 10 million servings of vegetables across Canada.
In Mexico, hydroponic systems predominantly utilize drip irrigation and the Nutrient Film Technique (NFT). The main hydroponic crops, chosen for their profitability, include lettuce, tomatoes, peppers, and strawberries. While Rockwool is not commonly used across North America, it is essential for tomato cultivation in Mexico's drip irrigation systems. The country faces compounded challenges, including arid conditions and limited groundwater availability, which affect two-thirds of its geography and strain water resources. These challenges create a significant opportunity for the vertical farming industry in Mexico. The highest concentration of hydroponic installations per acre is found in Mexico's Distrito Federal province.
Hydroponics Nutrients Industry Overview
The global hydroponics nutrients market is fragmented. Major players primarily adopt strategies such as mergers and acquisitions, partnerships, expansions, product launches, and investments in research and development. Through partnerships and collaborations, these companies have successfully entered new markets and engaged in R&D activities, resulting in the launch of products tailored to growers' needs. Key players in the market include Scotts Miracle-Gro (General Hydroponics), Haifa Group, ICL Group, Nouryon, and SQM.
Hydroponics Nutrients Market Leaders
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Haifa Group
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ICL Group
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Nouryon
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SQM
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Scotts Miracle Gro Scotts Miracle Gro (General hydroponics)
*Disclaimer: Major Players sorted in no particular order
Hydroponics Nutrients Market News
- June 2024: GrowGeneration Corp. has introduced a new B2B portal, HRG Marketplace, through its wholesale division, the Horticultural Rep Group (HRG). As a major distributor in the hydroponic industry, HRG aims to enhance product access and purchasing for its customers and partners across the United States.
- February 2024: GrowGeneration Corp., a major chain of specialty hydroponic and organic garden centers in the United States, announced that Drip Hydro is launching a new powder nutrient line for cultivation. Drip Hydro, known for agricultural innovation, developed this powder nutrient line with a focus on cannabis cultivation.
- June 2023: ICL Group has introduced a new line of water-soluble micronutrient and N-P-K fertilizers in North America. The product range includes Nova FINISH, Nova PULSE, Nova ELEVATE, and Nova FLOW, all formulated to enhance solubility.
Hydroponics Nutrients Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Food Security Concerns
4.2.2 Demand for Organic Fruits and Vegetables
4.2.3 Government Support and Incentives
4.3 Market Restraints
4.3.1 Less Adoption Rate
4.3.2 Limitation on Types of Crops Grown and Technical Expertise
4.4 Industry Attractiveness - Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Nutrient
5.1.1 Nitrogenous
5.1.2 Phosphatic
5.1.3 Potassic
5.1.4 Micronutrients
5.2 Type
5.2.1 Synthetic
5.2.2 Organic
5.3 Crop
5.3.1 Tomato
5.3.2 Cucmber
5.3.3 Leafy Greens
5.3.4 Pepper
5.3.5 Strawberries
5.3.6 Other Crops
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Russia
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 South Korea
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Africa
5.4.5.1 South Africa
5.4.5.2 Rest of Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Scotts Miracle Gro (General hydroponics)
6.3.2 Haifa Group
6.3.3 Advanced Nutrients Ltd
6.3.4 ICL Group
6.3.5 Nouryon
6.3.6 SQM
6.3.7 Am hydro
6.3.8 Nutrifield
6.3.9 Emerald Harvest
6.3.10 WE Hydroponics
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Hydroponics Nutrients Industry Segmentation
Hydroponics is a method of cultivating plants using mineral nutrient solutions in various media such as sand, gravel, or liquid, without soil. Hydroponic nutrients are specialized solutions that provide essential elements for plant growth in these systems. The composition of these nutrients varies depending on the plant type and specific system requirements.
The market is segmented by nutrient into nitrogenous, phosphatic, potassic, and micronutrients. By type, it is divided into synthetic and organic fertilizers. The crop segments include tomato, cucumber, leafy greens, pepper, strawberries, and others. The geographical analysis covers developed and emerging regions, specifically North America, Europe, Asia-Pacific, South America, and Africa.
The market sizing has been done in value terms in USD for all the abovementioned segments.
| Nutrient | |
| Nitrogenous | |
| Phosphatic | |
| Potassic | |
| Micronutrients |
| Type | |
| Synthetic | |
| Organic |
| Crop | |
| Tomato | |
| Cucmber | |
| Leafy Greens | |
| Pepper | |
| Strawberries | |
| Other Crops |
| Geography | ||||||||
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Hydroponics Nutrients Market Research FAQs
How big is the Hydroponics Nutrients Market?
The Hydroponics Nutrients Market size is expected to reach USD 2.10 billion in 2024 and grow at a CAGR of 6.30% to reach USD 2.80 billion by 2029.
What is the current Hydroponics Nutrients Market size?
In 2024, the Hydroponics Nutrients Market size is expected to reach USD 2.10 billion.
Who are the key players in Hydroponics Nutrients Market?
Haifa Group, ICL Group, Nouryon, SQM and Scotts Miracle Gro Scotts Miracle Gro (General hydroponics) are the major companies operating in the Hydroponics Nutrients Market.
Which is the fastest growing region in Hydroponics Nutrients Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Hydroponics Nutrients Market?
In 2024, the North America accounts for the largest market share in Hydroponics Nutrients Market.
What years does this Hydroponics Nutrients Market cover, and what was the market size in 2023?
In 2023, the Hydroponics Nutrients Market size was estimated at USD 1.97 billion. The report covers the Hydroponics Nutrients Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Hydroponics Nutrients Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Hydroponic Nutrients Industry Report
Statistics for the 2024 Hydroponic Nutrients market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Hydroponic Nutrients analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
