from Mike Straumietis, Advanced Nutrients Founder and CEO, we will answer this question and further explore the factors fueling the strong performance of the global hydroponics nutrients market.

The Market Expectations

The global market for hydroponic nutrients was estimated to be worth $2.67 billion in 2018. The industry is forecast to rise at a compound annual growth rate (CAGR) of 8.8 percent between 2020 and 2025. Even with the United States and the European Union removing hydroponic products from their lists of organic produce, the market for hydroponic fertilizers will still be driven by highly profitable and, soon-to-be-available, cost-effective hydroponic breakthroughs

Mike Straumietis realizes that the global market share of hydroponics among various indoor farming systems has seen significant development. In the United States, roughly half, around 47 percent, of all indoor farming is achieved using hydroponic systems, according to a 2017 Artemis survey.

Meanwhile, 58 percent of respondents, who participated in the research, agreed that hydroponic farms are profitable, particularly compared to other indoor farming practices in the United States.

Through its flagship program, the European Union is pushing the expansion of hydroponic farms. This program is connected to the European Bank for Reconstruction and Development, according to Mike Straumietis. Because of farmers' enormous profits, new, cutting-edge hydroponic technologies, such as photonics and similar ones, along with government support, are estimated to spur the hydroponics sector onward and upward. This consequently drives the market for hydroponic nutrition solutions even higher.

The Ongoing Advancement of Hydroponics

From 2022 to 2027, the hydroponics market is anticipated to post a CAGR of 7.8 percent.

The COVID-19 pandemic has heavily affected several sectors, yet demand for hydroponic farming is still increasing. According to Mike Straumietis, this farming practice had spread throughout urban areas even before the pandemic began.

Because vertical farms have complete control over the industry, hydroponic farming is expanding at a phenomenal rate. From seeds to stores, these farms are in control. Additionally, consumers can get information and specifics about their food's origins and production methods thanks to vertical farms.

One of the long-term goals for hydroponics is to strengthen food production and delivery channels. It has been found that doing so will increase the long-term need for hydroponic farms. Mike Straumietis points out that when it comes to crops, leafy vegetables and microgreens have been the most widely planted. However, hydroponic farms that cultivate lettuce, microgreens, and cherry tomatoes, among other crops that are located in more tropical or warm areas of the world, have also seen growth.

North America Dominates the Global Hydroponics Nutrients Market

Mike Straumietis knows that North America is responsible for most of the worldwide hydroponics nutrients market, accounting for 32.7 percent of the total market value. Europe and Asia-Pacific are the second and third largest markets. By introducing new agricultural technology and innovations, developing nations like India, China, and Japan have changed their agricultural sectors, making Asia-Pacific the market with the highest CAGR forecast period. It is no surprise that the commercial hydroponics business is developing exponentially due to the rising success rates of the sector and the escalating difficulties associated with growing food on the soil.

North America is the market's largest geographical region that was examined. Governments, as well as non-governmental groups, will certainly continue to promote hydroponics as an environmentally clean and commercially successful technology for its numerous advantages, particularly those concerning food security.

Developing Next-Generation Products

Advanced Nutrients has pushed the development of next-generation products that nourish crops from seed to senescence, unlocking their true genetic potential. As a result, growers from more than 110 countries benefit from this development.

The highly qualified and competent scientists with Ph.D. level education, who make up the research team, plus the guidance and leadership of Founder and CEO Mike Straumietis, enabled Advanced Nutrients to achieve such a feat. This is also reflected in the nine figures in annual sales of plant nutrients and fertilizers, making Advanced Nutrients a billion-dollar company.