Global Hydroponics Market- By Type, Crop Type and Geography Market Shares, Forecasts And Trends (2017 - 2022)
Global Hydroponics Market is estimated to grow at a CAGR of 6.5% during 2015-2020 forecast period. The hydroponics market value is anticipated to grow from $19.95 billion in 2015 to $27.33 billion in 2020. A sub segment of hydro culture, hydroponics is a method of growing plants using mineral nutrient solutions, in water, without soil.
Hydroponics involve soil less culture where crops are grown in mineral nutrient solution. Plants that are not traditionally grown in a particular climate condition, are preferably grown in a controlled environment system like hydroponics. 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.
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 opportunity for the industry.
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 then expected to grow at a steady pace during the forecast period. North American region led by US and Canada, is expected to grow at a better pace during 2015-2020.
The key players in Global Hydroponics Market 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 and Lumigrow, Inc. (U.S.). 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.
In this report we offer,
Market analysis for the Global Hydroponics Market, with region specific assessments and competition analysis on global and regional scales.
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, 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 shares
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 in which this industry is blooming and to also identify the regions that are still untapped
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook