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Impact of COVID-19 Pandemic on Hydroponic Substrate Market

Hydroponics technique is an efficient method of growing plants in a nutrient-rich water instead of soil and in a controlled environment. It required limited resources and little space. With the rising need of healthy and nutritious food, due to rising global population and spreading of infectious diseases such as coronavirus, individuals are becoming conscious of what they eat on a daily basis. COVID-19 has led to shutting down of many hotels and restaurants. It has affected the agriculture sector also. Shortage of labors, less productions and sales, and falling prices of food grains negatively impacted due to pandemic. However, rapidly growing population, technological advancement in the agriculture industry, and increasing production of exotic fruits and vegetables through hydroponics techniques are driving the global hydroponic substrate market. Developing countries are now focusing on innovative trends in farming to cater the rising food requirements across the globe.

hydroponics substrate market infographic

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Increasing Population and Need for Food Requirement

In order to cater the rapidly growing global population, manufacturers are focusing on increasing food production. With the growing food safety concerns after the coronavirus pandemic, players from agriculture industry are adopting technology to fulfill future demands. The global population is reaching to nearly 7.3 billion. This surging growth, urbanization, and lifestyle changes demands for increasing production of vegetables, fruits, and other food grains. Agriculture is the rapidly expanding sector to increase the productivity with the help of precision farming, irrigation techniques, and hydroponics substrate methodologies. The increasing food production is the major challenge faced by developing economies. Thus, to overcome this, governments are collaborating with agricultural specialists to improve crop yields for sustainable food demands.

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Hydroponics Holds Potential Future Due to Cultivation in Controlled Environment

There is an increasing need of fresh and nutritious crops such as tomatoes, peppers, cucumbers, lettuce, and herbs due to the increasing demand from the food & beverage industry. Consumers are now more aware about the quality of food grains. This has led to the increasing stress on farmers and agricultural companies to produce good quality yields of different fruits, vegetables, and herbs, that too in a large quantity. The hydroponic substrate market holds tremendous opportunities for market players in this situation. The high productivity can be obtained using technologies such as HVAC, irrigation, and aeration systems. There is no risk of climate change, as hydroponics systems work in a controlled environment such as greenhouses, indoor gardens, etc. This is an ongoing trend of growing plants and vegetable in household.

Development of Innovative Hydroponic Technologies

Hydroponics substrate techniques became widely popular in COVID-19 pandemic. It saves water and resources, and proved to be beneficial than conventional farming with no risk of harmful chemicals and pests. With increasing adoption of hydroponics technologies, scientists and researchers are exploring ways to improve efficiency to improve quality of food. Manufacturers operating in the hydroponic substrate market are investing on research & development activities to boost the global demand for food production. Market players are focusing on increasing their brand value by business expansion and partnerships with the top contributors.

Adoption of Hydroponics in European Countries

European countries such as the Netherlands, Spain, and France are the top regions showing lucrative growth opportunities in the hydroponic substrate market. The adoption of advanced climate control techniques in horticulture and hydroponics lead to global market expansion. Awareness about the greenhouse farming in these regions drives the demand for such methods. The hydroponic substrate market is growing rapidly in Asian countries such as India and China. Factors responsible for major market share are growth & development on agriculture sector with latest technologies and trends, along with rapid urbanization. Growing popularity of hydroponic farming and investment on agricultural sector by governments to boost production and increasing food security demands in recent years drives the global hydroponics market growth.

hydroponics substrate market segmentation

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Analysts’ Viewpoint

Even though there are tremendous growth opportunities in the hydroponic substrate market, higher prices of produce can affect the global market growth. The potential risk of spreading waterborne diseases affects the whole crop. Manufacturers in the hydroponic substrate market should focus on overcoming these challenges and producing high yield with improved quality than the food production through the conventional farming methods. The efficient resource management capability of hydroponics techniques help manufacturers increase their production capacity to fulfill increasing demands from consumers.

Hydroponic Substrate Market: Overview

  • Hydroponic substrates are various types of soilless grow media that are used in hydroponic systems to anchor plants’ roots
  • In a hydroponic system, plants are grown directly in a water-based, nutrient-enriched solution. There is no soil used at all. However, plants still need some sort of support for their roots. Thus, plants are supported by hydroponic substrates. These hydroponic substrates provide roots with a point at which they can attach. Hydroponic substrates help foster better aeration and retain moisture.
  • Various substrates are used for hydroponics. Inorganic substrates include rockwool, perlite and vermiculite, and clay pellets. Coir and peat moss are the common organic substrates.
  • Rockwool is one of the common substrate options. It is made from natural stone that has been melted and then spun into filaments.
  • Coir is another common type of hydroponic substrate. It is made from coconut husks and can be purchased as blocks or bricks. It offers good water retention and is completely biodegradable.
  • According to Transparency Market Research’s latest research report on the hydroponic substrate market for the forecast period from 2021 to 2031, rise in demand for hydroponically grown fruits and vegetables is a key factor that is expected to boost the global hydroponic substrate market during the forecast period
  • In terms of revenue, the global hydroponic substrate market is estimated to reach US$ 1.44 Bn by 2031. The hydroponic substrate market is likely to expand at a CAGR of 11.3% during the forecast period.

Increase in Demand for Vegetables and Fruits: Key Driver of Hydroponic Substrate Market

  • Growth in urban population and rise in income of the people have augmented the demand for food products, including hydroponically grown fruits and vegetables. Farmers across the globe are modernizing their farming techniques and using the hydroponic system to enhance the yield in order to meet the rising demand for food and increase their farming incomes. This is expected to drive the hydroponic substrate market during the forecast period.
  • Hydroponic farming allows year-round food production without the loss of yield due to climate change or weather-related events. It also eliminates the need for large-scale use of pesticides and herbicides. This is projected to boost the demand for hydroponic substrate during the forecast period.
  • The new trend of home decoration and hydroponic gardening that includes wide variety of edible plants such as herbs; veggies such as spinach, beans, lettuce, and bell peppers; and some berries such as strawberries and blueberries are grown indoors with hydroponic substrates all year round, regardless of the climatic changes. This is expected to drive the global hydroponic substrate market.

Rockwool Holds Major Share of Hydroponic Substrate Market

  • Based on type, the rockwool hydroponic substrate dominated the global hydroponic substrate market in 2020, as rockwool substrates are chemically inert. This means they do not bind any nutrients or chemicals, as can be seen in non-inert substrates. Rockwool is a clean product, with no pollutants or harmful bacteria. It does not lock up or release any substances, ensuring all water and nutrients are available to the plant. It is easy to control and steer the growth of the crop to achieve higher yield than in soil-bound cultivation. Inert characteristics of rockwool allow growers to improve fruit and produce quality while reaching maximum yields. This makes rockwool a suitable medium for growing plants hydroponically and is one of the widely used hydroponic substrate. This is driving the global hydroponic substrate market.

Hydroponic Substrate Market: Competition Landscape

  • Key players operating in the global hydroponic substrate market are
    • Projar Group
    • ROCKWOOL International A/S
    • Galuku Group Limited
    • CANNA
    • Ceyhinz Link International, Inc
    • JB Hydroponics B.V.
    • The Wonderful Soils Company
    • Hydrofarm LLC
    • Re-Nuble, Inc.
    • Malaysia Hydroponics
  • Major providers of hydroponic substrate, such as Projar Group, ROCKWOOL International A/S, Ceyhinz Link International, Inc, and CANNA are focusing on research & development, merger, joint venture, collaboration, and product innovation strategies
  • In the global hydroponic substrate market report, we have discussed individual strategies, followed by company profiles of providers of hydroponic substrate. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global hydroponic substrate market.

Hydroponic Substrate Market Snapshot

Attribute

Details

Market Size Value in 2020

US$ 445 Mn

Market Forecast Value in 2031

US$ 1.44 Bn

Growth Rate (CAGR)

11.3%

Forecast Period

2021-2031

Quantitative Units

US$ Mn for Value and Kilo Tons for Volume

Market Analysis

Includes cross-segment analysis at global level

Competition Landscape

Market Share Analysis, by Company (2020)

Format

Electronic (PDF) + Excel

Market Segmentation

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

Regions Covered

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of Companies

  • Projar Group
  • ROCKWOOL International A/S
  • Galuku Group Limited
  • CANNA
  • Ceyhinz Link International, Inc
  • JB Hydroponics B.V
  • The Wonderful Soils Company
  • Hydrofarm LLC
  • Re-Nuble, Inc.
  • Malaysia Hydroponics

Customization Scope

Available upon Request

Pricing

Available upon Request

Hydroponic Substrate Market – Scope of Report

The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global hydroponic substrate market in order to accurately gauge its future growth. The report provides insightful information about how the global hydroponic substrate market would expand during the forecast period of 2021 to 2031.

The report offers intricate dynamics about different aspects of the global hydroponic substrate market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global hydroponic substrate market during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global hydroponic substrate market and estimates statistics related to growth of the market in terms of volume (Kilo Tons) and value (US$ Mn).

This study covers a detailed segmentation of the global hydroponic substrate market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global hydroponic substrate market, wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.

Key Questions Answered in TMR’s Report on Hydroponic Substrate Market

The report provides detailed information about the global hydroponic substrate market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global hydroponic substrate market, so as to help them design successful strategies and make target-driven decisions.

  • Which type of hydroponic substrate would emerge as major revenue generator during the forecast period?
  • How are key market players successfully earning revenue out of advantages of hydroponic substrate?
  • What would be the Y-o-Y growth trend of the global hydroponic substrate market between 2021 and 2031?
  • What are the winning imperatives of leading players operating in the global hydroponic substrate market?
  • Which region is expected to create lucrative opportunities for the global hydroponic substrate market during the forecast period?
  • Which are the companies operating in the global performance for hydroponic substrate market?

Research Methodology – Hydroponic Substrate Market

The research methodology adopted by analysts for compiling the global hydroponic substrate market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible sources, analysts have offered riveting observations and authentic forecast for the global hydroponic substrate market.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine sources, analysts have emphasized the changing scenario of the global hydroponic substrate market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global hydroponic substrate market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Hydroponic Substrate Market – Segmentation

TMR’s research study assesses the global hydroponic substrate market in terms of type and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects of the global hydroponic substrate market.

Type
  • Inorganic
    • Rockwool
    • Perlite and Vermiculite
    • Clay Pellets
    • Others
  • Organic
    • Coir
    • Peat Moss
    • Others
Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

1. Global Hydroponic Substrate Market Snapshot

2. Global Hydroponic Substrate Market Analysis and Forecast, 2020

3. Regulatory Analysis

4. Price Comparison Analysis, by Type

5. Global Hydroponic Substrate Market Analysis and Forecast, by Type, 2020–2031

    5.1. Global Hydroponic Substrate Market Volume (Kilo Tons) and Value (US$ Mn) Forecast, by Type, 2020–2031

        5.1.1. Inorganic

            5.1.1.1. Rockwool

            5.1.1.2. Perlite and Vermiculite

            5.1.1.3. Clay Pellets

            5.1.1.4. Others

        5.1.2. Organic

            5.1.2.1. Coir

            5.1.2.2. Peat Moss

            5.1.2.3. Others

6. Global Hydroponic Substrate Market Analysis and Forecast, by Region, 2020–2031

    6.1. Key Findings

    6.2. Global Hydroponic Substrate Market Volume (Kilo Tons) and Value (US$ Mn) Forecast, by Region, 2020–2031

        6.2.1. North America

        6.2.2. Europe

        6.2.3. Asia Pacific

        6.2.4. Latin America

        6.2.5. Middle East & Africa

7. Global Hydroponic Substrate, Company Market Share Analysis, 2020

8. List of Players in Market

        8.1.1. Projar Group

        8.1.2. ROCKWOOL International A/S

        8.1.3. Galuku Group Limited

        8.1.4. CANNA

        8.1.5. Ceyhinz Link International, Inc 

        8.1.6. JB Hydroponics B.V.

        8.1.7. The Wonderful Soils Company

        8.1.8. Hydrofarm LLC

        8.1.9. Re-Nuble, Inc.

        8.1.10. Malaysia Hydroponics

9. Appendix

List of Tables

Table 1: Global Hydroponic Substrate Market Volume (Kilo Tons) Forecast, by Type, 2020–2031

Table 2: Global Hydroponic Substrate Market Value (US$ Mn) Forecast, by Type, 2020–2031

Table 3: Global Hydroponic Substrate Market Volume (Kilo Tons) Forecast, by Region, 2020–2031

Table 4: Global Hydroponic Substrate Market Value (US$ Mn) Forecast, by Region, 2020–2031

List of Figures

Figure 1: Hydroponics Substrate Market Analysis and Forecast, 2020

Figure 2: Hydroponics Substrate Price Trend, by Form, 2020–2031 (US$/Ton)

Figure 3: Hydroponics Substrate Market Share Analysis, By Companies, 2020

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Hydroponics Substrate Market