Hydroponic Substrate Market Size & Share, by Type {Inorganic (Rockwool, Perlite & Vermiculite, Clay Pellets); Organic (Coir, Peat Moss)} - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4322
  • Published Date: Feb 14, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Hydroponic Substrate Market size is poised to cross USD 1.91 Billion by the end of 2035, growing at a CAGR of 11% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of hydroponic substrate was over USD 0.54 Billion. The primary growth factor for the expansion of the hydroponic substrate market is anticipated to be the large usage of agricultural land across the world for varied purposes. Hydroponic substrates are of various types namely expanded clay balls, perlite substrate, coconut fiber substrate, rock wool substrate, coir or coco, a ceramic substrate, and plastic sponge substrate to name a few. The World Bank states that the total agricultural land in the world accounts for 36.9% of the total land in 2018. Also, the increasing demand for healthy and nutritious food and the rising prevalence of infectious diseases including coronavirus are estimated to boost the market growth.

Recently, there has been an increased demand for organic crops to escape the diseases and infections spreading around. As a result, the population is being conscious about what they are eating on daily basis. Thus, the rise in farmers and advancements in technological developments the agriculture is expected to increase the adoption rate of the hydroponic substrate in farming for producing high-quality vegetables. According to a report published in 2021, it “estimated that the number of farmers in India totaled to be almost 150 million farmers.”


Hydroponic-Substrate-Market
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Hydroponic Substrate Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~11%

Base Year Market Size (2022)

~ USD 0.54 Billion

Forecast Year Market Size (2035)

~ USD 1.91 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Hydroponic Substrate Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Swelling Population with Improved Healthcare Facilities Rising Longevity- The rapidly growing population has increased the demand for organic agriculture and food products. This rise in demand for agricultural ingredients is projected to bring lucrative growth opportunities in the hydroponic substrate market in the assessment period. As per World Bank, the global population stood up at 7.84 billion in 2021, an increase from 7 billion in 2011. This number is further anticipated to rise by United Nations to 9.8 billion in 2050 and 11.2 billion in 2100.
  • Increasing Presence of Farms Owing to Self-Farming to Produce Organic Food – The prevalence of farms across the world is expected to work as a growth factor for the utilization of hydroponic substrates to grow food products in a biological way. Recent estimates suggest that there were approximately 650 million farms worldwide in 2020.
  • Rise in Demand for Food Products Owing to Increasing Immigration – As per a recent report published in 2018, suggests the global food demand is about to increase by 60% by 2050.
  • Boom in Agriculture Industry to Cater to the Rising Food Needs - In 2020, the revenue generated by the United States agriculture, food, and related industries stood up at USD 1.060 trillion.
  • High Consumption of Chemicals Across the World – The global chemical consumption in 2021 accounted for 4 trillion euros.

Challenges

  • Shortage of Labors
  • Slow Adoption Rate
  • Additional Expenses in the Production Process
  • Need for hydroponic systems for various equipment which are of high investment cost and require relevant knowledge to improve productivity and profit hinders market growth. To run hydroponic crops, need plants, nutrients, water, a way to anchor plants, light, and nutrients. Besides, dealing with issues like root rot, molds, plant leaf issues, and pests increases the cost of the process.


Hydroponic Substrate Segmentation

Type {Inorganic (Rockwool, Perlite & Vermiculite, Clay Pellets); Organic (Coir, Peat Moss)}

The hydroponic substrates market is segmented and analyzed for demand and supply by type into organic and inorganic. Out of these, the inorganic segment is anticipated to garner the highest market share by 2035. The growth of the segment is attributed to the high trade of rock wool which is a type of inorganic hydroponic substrate. The Observatory of Economic Complexity stated that 2020, in 2020, rock wool was the world's 521st most traded product. This was equivalent to the value of USD 4.38 billion. The inert characteristics of rock wool provide fruit improvement and quality products with high yield and a way to control, free water flow to the plants is estimated to drive the leca substrate market growth.

Our in-depth analysis of the global hydroponic substrate market includes the following segments:

       By Type

  • Inorganic
  • Rockwool
  • Perlite & Vermiculite
  • Clay Pellets
  • Others
  • Organic
  • Coir
  • Peat Moss
  • Others

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Hydroponic Substrate Industry - Regional Synopsis

Asia Pacific Market Forecast

The Asia Pacific region hydroponic substrate market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. Asia Pacific region has a high employment rate in the agriculture industry which is projected to be the primary growth factor for the adoption of a hydroponic substrate and the growth of the market. A recent study revealed the total employment in agriculture statistics has gone up from 36% in 2017-18 to 37% in 2018-19 and then to 38% in 2019-20 in India. Additionally, the large agricultural land present in the region is another growth factor. As per World Bank, the agricultural land in East Asia & Pacific held about 47.7% in 2018. Further, the investments in research and development activities, growth in GDP level coupled with high chemical consumption are anticipated to be other growth factors. In 2021, domestic chemical sales in Asia Pacific garnered approximately USD 3 trillion. 

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Companies Dominating the Hydroponic Substrate Landscape

top-features-companies
    • Comercial Projar, S.A. (Projar Group)
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • ROCKWOOL International A/S
    • Galuku Group Limited
    • CANNA
    • Ceyhinz Link International, Inc.
    • JB Hydroponics B.V.
    • The Wonderful Soils Company
    • Hydrofarm Holdings Group, Inc.
    • Re-Nuble, Inc.
    • Malaysia Hydroponics

In-the-news

In The News

  • ROCKWOOL International A/S announced the launch of Cavityrock Black, which offers the same excellent thermal performance, fire resistance, and moisture control of ROCKWOOL Cavityrock insulation. Its specialty is that it’s a dual-density insulation board designed to mask the insulation layer with a bonded fleece facing to create a crisp, dark aesthetic in open-joint facades.

  • Hydrofarm Holdings Group, Inc. has acquired Aurora Innovations, Inc., Aurora International, Inc., and Gotham Properties LLC, a Eugene, Oregon-based manufacturer, and supplier of organic hydroponic products. This strategic alliance will further strengthen the company’s foothold in the hydroponics equipment and supplies market.

 


Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 4322
  • Published Date: Feb 14, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The need for organic vegetable by the burgeoning population is the major factor that is expected to drive the growth of the hydroponic substrate market.

The market is anticipated to attain a CAGR of 11% over the forecast period, i.e., 2023-2035.

The shortage of labors coupled with low adoption rate and additional expenses in production process are some of the factors that are expected to hamper the market growth.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Comercial Projar, S.A. (Projar Group), ROCKWOOL International A/S, Galuku Group Limited, CANNA, Ceyhinz Link International, Inc., JB Hydroponics B.V., The Wonderful Soils Company, Hydrofarm Holdings Group, Inc., Re-Nuble, Inc., Malaysia Hydroponics, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, and by region.

The organic segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Hydroponic Substrate Market Report Scope
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