Hydroponic Substrate Market Share

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 2036. 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.

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of hydroponic substrate is estimated at USD 669.5 Million.

The hydroponic substrate market size was over USD 607.7 Million in 2023 and is expected to cross USD 2.44 Billion by the end of 2036, witnessing more than 11.3% CAGR during the forecast period i.e., between 2024-2036. The need for organic vegetable by the burgeoning population is the major factor that is expected to drive the market growth.

Asia Pacific is set to account for largest industry share by 2036, as the region has a high employment rate in the agriculture industry.

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

Hydroponic Substrate Market Share