United States Hydroponics Market Report 2023-2028: Increasing Demand for Exotic Vegetables & Fruits Bolster Growth

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Nov 27, 2023, 12:45 ET

DUBLIN, Nov. 27, 2023 /PRNewswire/ -- The "United States Hydroponics Market Competition Forecast and Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.

United States Hydroponics Market is projected to reach a value of $1.458 billion by 2028 from $926 million in 2022, growing at a CAGR of 7.7% due to the growing demand for exotic vegetables & fruits.

In order to grow plants without utilizing soil, hydroponics uses mineral fertilizer solutions dissolved in aqueous solvents or liquid. This method is beneficial and friendly to the environment. It has received support from the US government and non-governmental groups due to its benefits for food security. Due to the higher output compared to conventional farming methods, the US hydroponics market is predicted to grow the forecast years.

Increasing Demand for Exotic Vegetables & Fruits

Due to customers' greater spending capacity, there has been continual growth in the demand for exotic fruits and vegetables. Due to the high cost of these exotic products and the fact that the majority of them are imported, several research institutions and universities in United States are concentrating on setting up more straightforward hydroponics systems in order to increase the production of exotic fruits and vegetables and satisfy the rising demand.

Furthermore, rising consumer interest in eating fresh veggies may support the industry in the future. Sales are expected to increase throughout the forecast period due to increased demand for unusual vegetables like red and yellow capsicum and red lettuce at fast food and retail chains like Burger King and KFC.

Along with this, the demand for vegetables and crops grown hydroponically has been rising from a variety of industries, including hotels, fast food chains, restaurants, railway catering, non-governmental organizations, and the military, which encourages farmers to use hydroponics systems to grow their crops.

Growing Demand for HVAC Equipment

This segment requires proper ventilation systems and rising practices of controlled environment agriculture which help in indoor farming practices. Proper space and ventilation help to improve yield and profitability by maintaining adequate temperature and conditions. Therefore, increasing demand for HVAC for hydroponics systems results in growing the demand for the United States Hydroponics market during the projected period.

Aggregate Systems will be the Key Type

Due to their simplicity of setup, aggregate systems are becoming more and more popular among indoor growers. Additionally, the growing usage of inert soil media, such as peat, coco coir, and sawdust, among others, to provide plants with the support they need is anticipated to boost market expansion in the forecast period.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies in United States Hydroponics market.

AmHydro
Fork Farms
Cropking Incorporated
Hydrofarm LLC
GrowGeneration Corp.
VH Hydroponics
Moonflower Farms
ZipGrow LLC
Green Life Farms LLC
HomesteadHydroFarm

Market Dynamics

Drivers

Rising Interest in Exotic Vegetables & Fruits
Help in Resource Conservation
Higher Yield than Conventional Farming

Market Trends & Developments

Product Launches
Mergers & Acquisitions
Technological Advancements

Challenges

High capital investment for big-scale farms
Argument on confirming hydroponic produce as organic

Report Scope:

United States Hydroponics Market, By Type:

Aggregate Systems
Liquid Systems

United States Hydroponics Market, By Equipment:

HVAC
LED grow light
Control systems
Irrigation systems
Material handling
Others

United States Hydroponics Market, By Input:

Nutrient
Growth Media

United States Hydroponics Market, By Farming Method:

Indoor
Outdoor

United States Hydroponics Market, By Crop Area:

Up 1000 Square feet
1000-5000 Square feet
5001-10000 Square feet
10000-50000 Square feet
Above 50000 Square feet

United States Hydroponics Market, By Crop Type:

Vegetables
Fruits
Flowers
Others

United States Hydroponics Market, By Region:

Northeast
Midwest
West
South

For more information about this report visit https://www.researchandmarkets.com/r/ysexbv

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