Hydroponic Growing Equipment Stores
The Hydroponic Growing Equipment Stores industry has exhibited strong performance over the past five years. Increased consumer focus on healthy eating and the benefits of organic produce have aided hydroponic food crop farmers that use this industry's equipment for small-scale, regional growing operations. Produce that is grown hydroponically often meets organic standards, and its contained indoor process reduces the need for genetically modified pesticides. Consequently, industry retailers experienced a spike in demand due to small farms and individuals seeking to set up hydroponic greenhouses to grow organic foods. In addition to strong demand for fresh produce, a recent boom resulting from the growing prevalence of medical marijuana and marijuana legalization has fueled rising interest in hydroponic growing methods. Over the five years to 2023, the popularity of quality organic produce will likely rise, fostering demand for industry products. As the medical marijuana industry continues to grow and eligible patients opt for alternative treatments, more medical marijuana will need to be produced to keep up with demand, which is expected to boost demand for industry products over the next five years.
The Hydroponic Growing Equipment Stores industry is primarily engaged in selling hydroponic horticulture equipment. Hydroponics is a method of growing plants using mineral nutrient solutions in water without the use of soil.
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.
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