Market Leaders: Fright Farms (US) and Sodexo (US) Partnered to Provide Advanced Hydroponic Vertical Farming Technology to School and Universities Across the Country. IT would help the Company to Strengthen its Market Position in Hydroponic Market
The global hydroponic system market is valued at USD 12.1 billion and is projected to reach USD 25.1 billion by 2027, growing at a CAGR of 15.6%. The global hydroponics crop market is estimated to be valued at USD 37.7 billion in 2022 and is projected to reach USD 53.4 billion by 2027, recording a CAGR of 7.2%. The demand for hydroponics is increasing due to the increasing demand for fresh food worldwide.
Key players operating in this market include Signify Holding (Netherlands), Heliospectra AB (Sweden), ScottsMiracle-Gro (US), Argus Control Systems (Canada), Logiqs B.V. (Netherlands), LumiGrow, INC. (US), Hydroponic Systems International (Spain), Hydrodynamics International (US), American Hydroponics (US), Advanced Nutrients (US), Emerald Harvest (US), VitaLink (UK), AeroFarms (US), Triton Foodworks Pvt. Ltd. (India), Freight Farms (US), Green Sense Farms (US), Emirates Hydroponic Farm (UAE), Gotham Greens (US), Nature’s Miracle (India), Bright Farms (US), InFarm (Germany), and Badia Farms (UAE).
The hydroponics market can be classified as a fragmented market as it has the presence of various regional players, accounting for a major part of the market share. The key players are fixated upon improving their market shares, while the newer start-ups are being established rapidly in the market. There are numerous existing and emerging companies, particularly in the Asian markets.
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Hydroponic Systems International (Spain) is specialized in offering high-quality solutions to the growers for hydroponic farming. It offers various products such as hydropot system, premium system, ecosystem, hanging system, evolution pot system, evolution hanging, evolution elevated, evolution strawberry, evolution system, bulk system, and combined system. These growing systems have a spacer, which allows aeration and eliminates moisture accumulation under the substrates. In June 2022, Hydroponic Systems International launched HS Evolution Pot which does not require packaging or plastic bags for the substrate. It would help the company to expand its product offerings and cater to environmentally aware customers.
Freight Farms (US) is one of the leading manufacturers of container farming technology majorly designed for leafy vegetables. The company offers hydroponic container farm, Greenery S, which allows customers and end consumers to grow food worldwide throughout the year. It also offers control software, Farmhand, which allows users with extensive automation and scheduling capabilities to streamline day-to-day farm operations. In December 2020, Freight Farms and Arcadia (US), a monthly subscription service that connected renters and homeowners across the US to clean energy, partnered to provide Freight Farms’ US customers with access to clean energy for their everyday operations. Similarly, in January 2020, Freight Farms and Sodexo (US) partnered to provide advanced hydroponic vertical farming technology to schools and universities across the country. It would help the company to strengthen its market position.
Gotham Greens is a pioneer in urban indoor agriculture and a key player in the fresh produce and food industries. It grows and supplies various crops such as arugula, butter head, romaine, baby butterhead, ugly greens, greenhouse crunch, grateful greens, tropicana green leaf, basil, and others. In December 2021, Gotham Greens announced opening a 10-acre farm/researcher facility in California. This would help the company to expand its production capabilities. Similarly, in May 2020, Gotham Greens initiated its new facility in Aurora, Colorado state of the US. It aimed to increase the company’s sales in the area by providing grocery retailers with fresh lettuce, leafy greens, and other fresh products.
Related Reports:
Hydroponics Market by Type (Aggregate systems and Liquid systems), Equipment, Input (Nutrients and Grow media), Crop Type (Vegetables, Fruits, Flowers), Farming method (Indoor and Outdoor), Crop area, and Region - Global Forecast to 2027
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