Market Size of Hydroponic Nutrients Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.30 % |
| Fastest Growing Market | Middle East and Africa |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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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.
