Hydroponic Growing Equipment Stores in the US - Industry Market Research Report
Description
Hydroponic Growing Equipment Stores in the US
The Hydroponic Growing Equipment Stores industry has exhibited strong growth through 2023. 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 because of small farms and individuals seeking to set up hydroponic greenhouses to grow organic foods early in the period. Later in the period, demand for growth equipment has skyrocketed by burgeoning demand from recreational and medical marijuana growers. Revenue has grown at a CAGR of 1.6% to reach $1.4 billion through 2023, including an expected stagnation of 0.0% in 2023.
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.
The Hydroponic Growing Equipment Stores industry has exhibited strong growth through 2023. 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 because of small farms and individuals seeking to set up hydroponic greenhouses to grow organic foods early in the period. Later in the period, demand for growth equipment has skyrocketed by burgeoning demand from recreational and medical marijuana growers. Revenue has grown at a CAGR of 1.6% to reach $1.4 billion through 2023, including an expected stagnation of 0.0% in 2023.
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.
Table of Contents
42 Pages
- TABLE OF CONTENTS
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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