Growing Greener with Hydroponics on the Rise

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Researched by Industrial Info Resources (Sugar Land, Texas)--In an era where sustainability has become a factor across every sector, the agriculture industry is also evolving with technological advancements to include more sustainable and controlled farming practices. One such advancement is the adoption of hydroponic farming.

Unlike conventional farming, hydroponic systems are based on soil-less farming, which uses nutrient-rich solutions to grow plants. Environmental factors such as temperature, humidity or lighting can easily be automated within hydroponic systems for efficient and consistent crop production.

Since hydroponic systems do not require soil to cultivate plants, they reduce overall land and water consumption, eliminating environmental impacts like soil erosion and land degradation. They also offer high water efficiency and use approximately 95% less water than conventional farming. Other key aspects of this system are optimal land use through vertical farming, and minimal use of pesticides, which result not only in faster growth and higher yields but also a continuous supply of plants throughout the year, regardless of seasonal changes.

Rising populations, increased urbanization and heightened demand for fresh food and vegetables are the key drivers of the hydroponic market. According to the United Nations, the world population is estimated to reach 9.7 billion by 2050 and the Food and Agricultural Organization further projects that food production must increase by at least 70% to cope with the consumer demand.

Industrial Info is tracking 85 active hydroponic projects with investments worth US$3.39 billion globally. North America, Europe and Asia are the top regions driving 99% of the share in the global market. North America dominates the market with US$3.21 billion worth of investment. Europe and Asia follow with US$105 million and US$47.5 million worth of investment, respectively. Subscribers to Industrial Info's Global Market Intelligence (GMI) Food & Beverage Project Database can click here for a list of detailed project reports.

In North America, the U.S. contributes the highest market share with investments worth US$3.02 billion, followed by Canada with investments worth US$194 million. In Europe, Italy emerges as a significant spending driver with investment worth US$103 million.

Plant Agricultural Systems LLC (Fort Lauderdale, Florida), BrightFarms Incorporated (Irvington, New York) and 80 Acres Farms (Ohio) are the key players investing in the hydroponic market.

Plant Agricultural Systems plans to invest US$1.28 billion to set up various grassroot and expansion projects for hydroponic greenhouses. One of its largest projects is a Phase I grassroot hydroponic greenhouse to produce leafy greens and vine crops. Subscribers can click here for the related project reports and click here for the plant profiles.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).