Hydroponic Crop Farming in the US - Industry Market Research Report

Color me green: As consumers increasingly buy locally grown produce, revenue is expected to grow

Over the five years to 2023, revenue for the Hydroponic Crop Farming industry has grown. While overall vegetable prices have increased over the five years, industry revenue has been limited by years with significant crop price drops. However, extreme weather conditions damaged many crops for fresh field farmers, so grocery stores and farmers' markets quickly turned to hydroponic farmers to meet their demand. In particular, drought throughout many parts of the United States over the past five years harmed agricultural industries across the board, presenting an opportunity for hydroponic crop farmers. Over the five years to 2023, industry revenue is expected to increase at an annualized rate of 1.8% to $807.9 million. In 2023, industry revenue is expected to rise 1.6% as traditional farms continue to struggle with volatile weather patterns and COVID-19 (coronavirus) related supply chain disruptions.

Hydroponics is a method of growing plants using mineral nutrient solutions in water, without soil. Operators in this industry generally grow food crops under glass or protective cover.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.