Global Hydroponics Market
The global hydroponics market is estimated to grow at a CAGR of 6.7% during the 2017-2022 forecast period. The hydroponics market value is anticipated to grow from USD XX million in 2016 to USD 31436.7 million by 2022. A sub-segment of hydro-culture, hydroponics is a method of growing plants using mineral nutrient solutions, in water, without soil. Hydroponics method uses two main mediums to grow crops - solution culture and solid medium culture. This method of farming is a niche segment gaining popularity in urban, customized agriculture setup. Companies are mainly focusing on launching new products and facilities by investing in R&D activities. Partnerships and agreements with regional players are being carried out to expand the global presence by companies.
Hydroponics is termed as one of the fastest-growing soil-less farming practice at a global level, wherein, a tailored nutrient solution is used for plant growth with a superior quality and sustainable manner. One of the major growth drivers for the hydroponic industry is the documented higher yield in comparison to traditional agricultural techniques. Along with profit farming, growing consumption of exotic, salad crops and increasing need for global food security will drive the market upwards. Lack of awareness regarding the soil-less agriculture system and high initial cost would hinder the market growth to an extent. Increased cultivation of medicinal plants, globally, and customized farming approach may provide future growth opportunities for the industry.
The global hydroponics market is segmented based on system type, crop type and by geography. By type, the hydroponics farming is classified as liquid and aggregate system; hydroponics growth techniques appoint aggregate system primarily in commercial cultivations. By crop type, the market includes products like tomatoes, cucumber, lettuce and vegetables, strawberries, peppers, and other food crops. Tomato crop is the major segment driving the global hydroponics market for the forecast period.
Europe is traditionally the largest market implementing advanced techniques in hydroponic smart greenhouse horticulture. The matured European market demand is led by countries such as the Netherlands, Spain, and France. Asia-Pacific forms the second largest market for hydroponics, which is expected to grow at a steady pace during the forecast period. The North American region led by the United States and Canada, is expected to grow at a better pace during 2017-2022.
Major companies in the sector include:
Greentech Agro LLC (U.S.)
Argus Control Systems (Canada)
Logiqs B.V. (The Netherlands)
Koninklijke Philips NV (The Netherlands)
General Hydroponics, Inc.
Greentech Agro, LLC
Lumigrow, Inc. (U.S.)
Recent Industry Insights
Lawn-and-garden giant Scotts Miracle-Gro spent USD 136 million for Gavita, a Dutch grow lighting and hardware company. Through its subsidiary, Hawthorne Gardening Co., Scott has invested in companies such as Boulder’s AeroGrow, an indoor gardening company and acquired California’s General Hydroponics Inc. for USD 130 million. They also spent USD 77.1 million to acquire Botanicare.
Key Deliverables in the Study
Market analysis for the global hydroponics market, with region-specific assessments and competition analysis on both, global and regional scales.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the global hydroponics market on both, global and regional scales.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is growing and also identify the regions that are still untapped.
The report holds importance for the following stakeholders -
Producers and manufacturers.
Enterprises operating in the industry.
Traders and stakeholders operating in the sector.
Investors/research institutions interested in the market.
Supply chain analysis