Hydroponic Crop Farming
Over the five years to 2018, revenue for the Hydroponic Crop Farming industry has maintained positive growth. During the five-year period, industry revenue has been supported by rising vegetable prices. In addition, 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. Revenue is projected continue to increase over the five years to 2023, albeit at a slower rate. Poor weather conditions will raise downstream purchasers' reliability on hydroponic farmers and raise vegetable prices, boosting revenue. Mexican imports will pose a small threat to the domestic industry, as the country increases its hydroponic farming capabilities. Nevertheless, as consumers increasingly purchase locally grown produce, imports will not pose a substantial threat.
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.