The "GCC Hydroponic Market Forecast Report by Type, Crop Type, Equipment, Region, and Company 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The Hydroponic Market in the Gulf Cooperation Council (GCC) is projected to reach a significant value of US$ 614.05 million by 2032, up from US$ 202.69 million in 2023. This growth, with a compound annual growth rate (CAGR) of 13.11% from 2024 to 2032, is largely driven by the increasing adoption of hydroponic agricultural methods in the region.
Hydroponics: Revolutionizing Agriculture in the GCC
As an innovative agricultural technique, hydroponics allows for the cultivation of plants without soil, using mineral nutrient solutions in water instead. This method is particularly suitable for the GCC due to its arid climate and scarcity of arable land. Hydroponics technology is recognized for its efficiency in water usage, making it a sustainable choice for the region's agriculture sector. The method ensures a consistent supply of crops throughout the year and reduces reliance on food imports, thus enhancing the food security of the GCC nations.
Key Market Drivers
The market is witnessing a robust growth trajectory due to hydroponics' water-saving capabilities, vital in the water-deficient region of the GCC. Additionally, the technology enables all-year-round cultivation of crops locally, diminishing the dependence on food imports and boosting regional food security. GCC governments are also actively promoting and investing in hydroponic farming to address climate and water scarcity challenges.
The Flourishing UAE Hydroponics Sector
The United Arab Emirates serves as an exemplar within the hydroponics sector, with substantial investment from both governmental and private entities. Such strategic initiatives aim to foster long-term sustainability and food self-sufficiency through advanced hydroponic farming methods.
Company Landscape in the GCC Hydroponics Market
Prominent industry players within the GCC hydroponics market include AeroFarms, AmHydro, and Freight Farms, amongst others. These companies have made significant strides in their sector, as exemplified by the recent investment of USD 84.3 million in two Abu Dhabi farms.
Market Segmentation Breakdown
The market analysis reveals a segmentation of hydroponic systems into aggregate and liquid systems. Crop types cultivated range from tomatoes and herbs to leafy greens and more. Hydroponic equipment spans across categories like HVAC systems, LED grow lights, and irrigation systems, which are integral to the high-efficiency practices in the industry. The GCC market can be further broken down into sub-regional analyses – Saudi Arabia, UAE, Qatar, Oman, Kuwait, and Bahrain – each showcasing unique growth opportunities and local market dynamics.
The hydroponics market in the GCC is demonstrating strong growth, backed by technological advancements and strategic government investments. With water efficiency and localized production at its core, hydroponics stands poised to significantly impact food security and agricultural sustainability in the GCC region for the foreseeable future.
Companies Featured
- AeroFarms
- AmHydro
- Freight Farms
- Green Sense Farms Holdings, Inc.
- LumiGrow
- Unrivaled Brands Inc
- BrightFarms
- The Scotts Company LLC
- Hydrodynamics International
- Signify Holding
For more information about this report visit https://www.researchandmarkets.com/r/e9qihk
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240822814236/en/
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
