Hydroponics - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Hydroponics Market is accounted for $8.33 billion in 2019 and is expected to reach $23.92 billion by 2027 growing at a CAGR of 14.1% during the forecast period. Some of the key factors propelling the market growth include increasing awareness about health benefits, changing preferences of people for hydroponics as profit farming, rising disposable income, increasing consumer buying power, rapid urbanization, and change in taste and preferences of food and beverages among consumers coupled with changing eating pattern. However, high capital investment for large-scale farms is identified as key factor hindering the market growth.
Hydroponics is basically a soil-less gardening method which involves growing healthy plants using a nutrient like a mineral rich water solution. The complete process of hydroponics requires only nutrients, water, and sunlight to let plants grow a lot better with their roots in water. Hydroponics process do not use soil, instead use an inert medium such as rockwool, perlite, peat moss, vermiculite, clay pellets, and many others. Growing crops with hydroponics process have many advantages such as increased rate of growth of plants.
By type, the aggregate systems segment is anticipated to have considerable growth during the forecast period, owing to its widespread popularity among all the indoor hydroponic farmers due to its ease of setup and inexpensiveness. In such systems, an inert and solid media such as peat, rock wool, vermiculite, sand, sawdust, perlite, or coconut coir provides support for the plants. The primary technologies in aggregate systems include drip systems, ebb and flow system, and wick systems. Out of these, the ebb and flow is the most common mode of an aggregate system that is preferred as it is easy and economically cheap to build.
On the basis of geography, Europe region is expected to witness significant growth during the forecast period, owing to the high adoption of hydroponics driven by rapid industrialization and scarcity of land. Europe has traditionally been at the forefront of implementing advanced techniques in hydroponic smart greenhouse horticulture. Countries such as the Netherlands, Spain, and France have large areas under greenhouse cultivation. However, in the Netherlands, the growers mostly cultivate their plants in simple tunnel-like greenhouses without the use of climate control technologies. Advancement in greenhouse farming has supported the growth of hydroponics in Europe.
Some of the key players in Hydroponics Market include American Hydroponics, Heliospectra AB, Green Sense Holdings, Emerald Harvest, Logiqs B.V, LumiGrow, Signify Holdings, AeroFarms, Hydroponic Systems International, Scotts Miracle Gro, Village Farms, Argus Control Systems Limited, Terra Tech Corp, Hydroponic Farms, Triton Foodworks Ltd., and Koninklijke Philips NV.
Equipments Covered:
• Material Handling
• Control Systems
• LED Grow Lights
• Irrigation Systems
• Heating, Ventilation, and Air Conditioning (HVAC)
• Communication Technology
• Growing Chamber
• Delivery System
• Reservoir
• Pump & Tubing
• Growing Supplies
• Accessories
Types Covered:
• Liquid Systems
• Aggregate Systems
Crop Types Covered:
• Vegetables
• Medical Marijuana
• Herbs & Greens
• Flowering and Foliage
• Fruits
Input Types Covered:
• Grow Media
• Nutrients
Solutions Covered:
• In Organic
• Natural & Organic
Farming Types Covered:
• Indoor Farming
• Outdoor Farming
Distribution Channels Covered:
• Offline
• B2B
• B2C
Crop Areas Covered:
• Upto 1000 Square Feet
• 1000-5000 Square Feet
• 5001-10000 Square Feet
• 10000-50000 Square Feet
• Above 50000 Square Feet
Applications Covered:
• Academic
• Commercial
• Family
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
France
Italy
UK
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
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