Hydroponic Nutrients Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Hydroponic Nutrients Market is Segmented by Scale (Home-Based and Commercial), Nutrient Type (Nitrogen, Phosphorus, Potassium, and Other Nutrients), Chemical Origin (Synthetic and Organic), and Geography (North America, Europe, Asia Pacific, South America, and Middle East and Africa). The report offers market size and forecasts in terms of value (USD million) for all the above segments.

Hydroponic Nutrients Market Size

Hydroponic Nutrients Market Summary
share button
Study Period 2018 - 2028
Base Year For Estimation 2022
CAGR 6.30 %
Fastest Growing Market Middle East and Africa
Largest Market North America
Market Concentration Low

Major Players

Hydroponic Nutrients Market Major Players

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Hydroponic Nutrients Market Analysis

The hydroponic nutrients market is projected to register a CAGR of 6.3% over the forecast period.

  • The increasing pressure on global arable land, increased demand for nutrition, and shift in the dietary pattern of the global population towards consumption of fresh fruits and vegetables are the factors driving the increase in area under hydroponics. In countries with unfavorable climatic conditions for open land farming, hydroponics provides a sustainable option for the cultivation of fresh produce to supply to markets.
  • Furthermore, fertilizers developed specifically for hydroponic systems have been developed by companies to tap into the growing market for hydroponics. In addition to being completely water-soluble, these fertilizers are generally compound mixtures providing multiple nutrients to the crops grown in a hydroponic system, albeit with one of the primary nutrients having a major proportion.
  • Major players in the market are investing more in R&D to develop new hydroponic technologies. For instance, in 2019, Mebiol Research and Development Center in Japan invented a new polymer hydrogel film that can be used for cultivating crops using nutrient solutions.

Hydroponic Nutrients Market Trends

Shrinking Agricultural Land Area

  • Increasing population trends, urbanization, decreasing water supply, and continuing climate change have contributed to the declining agricultural land. Additionally, the introduction of the Conservation Reserve Program (CRP), the emergence of the biofuel industry, and other economic factors have contributed to significant changes in land-use patterns. Due to such constraints, more production is required from a lesser land area.
  • According to Food and Agriculture Organization (FAO), there is a decline in land resources for agriculture. Policymakers are facing the challenge of maintaining sustainability and feeding the rapidly growing world population, which is projected to reach around 9.7 billion by 2050.
  • Due to the continuous decline in per capita farmland availability, a possible way out is the practice of increasing productivity. Thus, there is a need to increase yield from the available land, which can be achieved through hydroponics. Hydroponics farming, which involves greater use of technology and automation for land-use optimization, exemplifies solutions for improving future food production. Hydroponics farming aims to significantly increase productivity and reduce environmental footprint within a framework of high-rise urban, indoor, and climate-controlled buildings.
  • According to the United States Department of Agriculture (USDA), farmers in the United States voluntarily removed land from crop production because of poor growing conditions or constrained irrigation water supplies. Gradual declines have occurred in cropland, while grazed forestland has decreased more rapidly. Increases in land used for non-agricultural special uses, including national parks and other protected areas, have contributed to the relative increase in non-agricultural land use while agricultural lands have kept decreasing.
  • Hence, the shrinkage or the fluctuation in the agricultural land area globally has resulted in the need for technological developments to meet the growing demand, which is anticipated to drive the market for hydroponics farming which in turn is anticipated to drive the growth of hydroponics nutrients market during the forecast period.
Hydroponics Nutrients Market - Agricultural land in Sq.Km, Global, 2018-2020

North America Dominates the Market

  • The application of hydroponics-grown produce has increased progressively in the region over the last few years. North America holds the largest market share in the hydroponics nutrients market. It is expected to grow during the forecast period, owing to rising disposable income and increased consumer purchasing power.
  • In addition, the growing awareness about health and fitness and a focus on sustainable farming methods drive consumers to invest excessively in hydroponics, which is estimated to contribute significantly to market growth. Furthermore, hydroponics ensure a smooth supply, despite weather conditions and monsoon seasons, when supply is usually interrupted for traditional vegetable suppliers. This is also one of the reasons anticipated to contribute to the market's growth.
  • In addition, several initiatives taken by the regional players also support the market's growth. For instance, in 2019, Kroger, which owns QFC, teamed up with Infarm, a start-up based in Germany, to install modular vertical farms in two of its Seattle-area grocery stores in Bellevue and Kirkland, Washington. In these mini-farms, which use a hydroponic farming method, nine varieties of lettuce and herbs are grown in nutrient-rich water.
Hydroponics Nutrients Market - Growth Rate by Region (2023-28)

Hydroponic Nutrients Industry Overview

The hydroponic nutrients market is a fragmented market. Yara International ASA, Advanced Nutrients Limited, Haifa Group, and ICL Group are some of the major players operating in the market. The players are investing in new products and improvisation of products, partnerships, expansions, and acquisitions for business expansions.

Hydroponic Nutrients Market Leaders

  1. Yara International ASA

  2. Advanced Nutrients Limited

  3. Haifa Group

  4. ICL Group

  5. Ferti Technologies

*Disclaimer: Major Players sorted in no particular order

Hydroponic Nutrients Market Concentration

Hydroponic Nutrients Market News

  • January 2023: ICL, a global specialty minerals company, announced it would be the strategic specialty phosphate solutions supplier to General Mills. The long-term agreement will begin in June of 2023 and will initially be focused on supply in North America, with the potential for international expansion. As part of its strategy to develop long-term partnerships with key suppliers, General Mills is working with ICL to leverage technical expertise in support of business growth.
  • December 2022: Freight Farms launched a new line of hydroponic nutrients called Farmhand. The product line consists of three components: Farmhand form, grow, and boost, each designed to provide essential macro and micronutrients to support healthy plant growth in hydroponic systems.

Hydroponic Nutrients Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definations

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Scale

      1. 5.1.1 Home-Based

      2. 5.1.2 Commercial

    2. 5.2 Nutrient Type

      1. 5.2.1 Nitrogen

      2. 5.2.2 Phosphorus

      3. 5.2.3 Potash

      4. 5.2.4 Other Nutrients

    3. 5.3 Chemical Origin

      1. 5.3.1 Synthetic

      2. 5.3.2 Organic

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

        4. 5.4.1.4 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Spain

        5. 5.4.2.5 Russia

        6. 5.4.2.6 Italy

        7. 5.4.2.7 Rest of Europe

      3. 5.4.3 Asia Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 India

        3. 5.4.3.3 Japan

        4. 5.4.3.4 South Korea

        5. 5.4.3.5 Singapore

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 United Arab Emirates

        3. 5.4.5.3 South Africa

        4. 5.4.5.4 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Yara International ASA

      2. 6.3.2 Advanced Nutrients Limited

      3. 6.3.3 Haifa Group

      4. 6.3.4 ICL Group

      5. 6.3.5 Ferti Technologies

      6. 6.3.6 Grow More, Inc.

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

Hydroponic Nutrients Industry Segmentation

Hydroponic nutrients refer to any commercially available plant nutrients suitable for plants grown in a hydroponic system. Hydroponic nutrients are liquid versions of N-P-K, with secondary nutrients and macro elements such as trace minerals in various quantities.

The hydroponic nutrients market is segmented by scale (home-based and commercial), nutrient type (nitrogen, phosphorus, potassium, and other nutrients), chemical origin (synthetic and organic), and geography (North America, Europe, Asia Pacific, South America, and Middle East and Africa).

The report offers market size and forecasts in terms of value (USD million) for all the above segments.

Scale
Home-Based
Commercial
Nutrient Type
Nitrogen
Phosphorus
Potash
Other Nutrients
Chemical Origin
Synthetic
Organic
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Spain
Russia
Italy
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Singapore
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
United Arab Emirates
South Africa
Rest of Middle East and Africa

Report scope can be customized per your requirements. Click here.

You can also purchase parts of this report. Do you want to check out a section wise price list?

Hydroponic Nutrients Market Research FAQs

The Hydroponic Nutrients Market is projected to register a CAGR of 6.3% during the forecast period (2023-2028).

Yara International ASA, Advanced Nutrients Limited, Haifa Group, ICL Group and Ferti Technologies are the major companies operating in the Hydroponic Nutrients Market.

Middle East and Africa is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the North America accounts for the largest market share in the Hydroponic Nutrients Market.

Hydroponic Nutrients Industry Report

Statistics for the 2023 Hydroponic Nutrients market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hydroponic Nutrients analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

close-icon
80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!