PUBLISHER: The Business Research Company | PRODUCT CODE: 1608752
PUBLISHER: The Business Research Company | PRODUCT CODE: 1608752
Hydroponic fertilizer additives are substances incorporated into the nutrient solutions of hydroponic systems to enhance plant growth, development, and yield. In contrast to traditional soil-based agriculture, hydroponics utilizes water-based solutions to deliver nutrients directly to plant roots. These additives ensure that plants receive all essential nutrients and beneficial compounds in a controlled and efficient manner.
The main types of hydroponic fertilizer additives include organic, inorganic, and synthetic options. Organic products are derived from natural sources and are produced without synthetic pesticides, fertilizers, or genetically modified organisms (GMOs). The nutrients provided can be nitrogen-based, phosphorus-based, or potassium-based, and they are used for crops such as leafy greens, fruits, and vegetables. Applications of these additives include foliar feeding, soil use, and drip irrigation.
The hydroponics fertilizer additive market research report is one of a series of new reports from The Business Research Company that provides hydroponics fertilizer additive market statistics, including hydroponics fertilizer additive industry global market size, regional shares, competitors with a hydroponics fertilizer additive market share, detailed hydroponics fertilizer additive market segments, market trends and opportunities, and any further data you may need to thrive in the hydroponics fertilizer additive industry. This hydroponics fertilizer additive market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The hydroponics fertilizer additive market size has grown strongly in recent years. It will grow from $4.31 billion in 2023 to $4.63 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth during the historic period can be attributed to several factors, including the increase in the global population, rising urbanization, greater consumer awareness of organic and healthy food, government initiatives promoting sustainable agriculture, the impact of climate change on conventional farming methods, and the rise of indoor gardening trends among urban dwellers.
The hydroponics fertilizer additive market size is expected to see strong growth in the next few years. It will grow to $6.2 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth during the forecast period can be attributed to the increasing consumer preference for organic and sustainable farming practices, the rising urban population, government initiatives promoting vertical farming, growing awareness of food safety and quality, the expansion of e-commerce platforms for fertilizer distribution, and increased investment in research and development for innovative nutrient formulations. Key trends expected in this period include the adoption of organic fertilizers, advancements in nutrient delivery technologies, the development of customized fertilizer blends, a heightened focus on sustainability and eco-friendly additives, and the integration of smart farming solutions for precise nutrient management.
The growing demand for organic fruits and vegetables is projected to drive the expansion of the hydroponics fertilizer additive market in the future. Organic fruits and vegetables are cultivated without the use of synthetic pesticides, herbicides, or fertilizers, relying on natural methods to maintain soil health and promote biodiversity. The increase in the consumption of organic produce is attributed to rising health consciousness, environmental sustainability concerns, and a greater awareness of the benefits of chemical-free, nutrient-rich food. Organic fruits and vegetables support sustainable farming practices, and hydroponic fertilizer additives are essential in providing nutrient-rich solutions that improve crop yields in soil-free, controlled environments, thereby facilitating the cultivation of organic and pesticide-free produce. For example, in May 2023, the Department for Environment, Food, and Rural Affairs, a UK government agency, reported that in 2022, the UK had 509 thousand hectares of land farmed organically, marking a 0.4% increase from 2021. The area dedicated to organic vegetables grew by 4.8%, reaching 10,000 hectares compared to the previous year. Thus, the rising demand for organic fruits and vegetables is fueling the growth of the hydroponics fertilizer additive market.
Key players in the hydroponics fertilizer additive market are concentrating on developing innovative solutions, such as foliar and fertigation methods, to optimize crop nutrition and yield. Foliar and fertigation solutions are essential tools in contemporary agriculture, enhancing soil fertilization to improve crop nutrition, yield, and quality. Foliar solutions deliver nutrients through leaf spraying for quick absorption, while fertigation incorporates fertilizers into irrigation systems, supplying nutrients directly to plant roots efficiently. For instance, in June 2023, ICL, an Israel-based company specializing in agriculture, food, and engineered materials, launched a new range of advanced foliar and fertigation solutions under their Nova brand of water-soluble fertilizers, which serve as hydroponic fertilizer additives. The newly introduced products include Nova Finish, Nova Pulse, Nova Elevate, and Nova FLOW. These fertilizers offer essential nutrients in a highly soluble form that is compatible with most herbicides and crop protectants, addressing the specific nutritional needs of crops at various growth stages.
In January 2023, Nouryon Chemicals Holding B.V., a chemical manufacturing company based in the Netherlands, acquired ADOB for an undisclosed amount. This acquisition reflects Nouryon's commitment to the agriculture and food sector, allowing the company to broaden its services and product offerings, thereby enhancing its capability to meet customer needs and capitalize on growth opportunities in the market. ADOB is a Poland-based fertilizer manufacturer specializing in high-quality liquid and microgranule fertilizers for soil application, fertigation, hydroponic management, and foliar spraying.
Major companies operating in the hydroponics fertilizer additive market are SQM SA, ICL Group Ltd., Nouryon Specialty Chemicals B.V., Haifa Group, Hydrofarm Holdings Group, Myron L Company, Advanced Nutrients, Emerald Harvest, Holland Industry Inc., HydroGarden Ltd., Oasis Grower Solutions, FoxFarm Soil & Fertilizer Co., Masterblend International LLC, American Hydroponics (AmHydro), General Hydroponics, Nutrifield, Humboldts Secret Supplies, Hydroponics Europe, Cellmax Nutrients B.V., Npk Industries & Co, Radon Grow, Atami, Botanicare, House & Garden
North America was the largest region in the hydroponics fertilizer additive market in 2023. The regions covered in the hydroponics fertilizer additive market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the hydroponics fertilizer additive market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hydroponics fertilizer additives market consists of sales of macronutrient and micronutrient solutions, pH adjusters, and microbial additives. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Hydroponics Fertilizer Additive Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hydroponics fertilizer additive market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hydroponics fertilizer additive ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hydroponics fertilizer additive market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.