The Global Hydroponics Market is foreseen to be valued at USD 22.2 Billion by 2028 from USD 9.5 Billion in 2020, registering a CAGR of 11.3% through the estimated timeline. An agricultural technique—hydroponics is generally used for growing plants or crops in a soil-less medium, including a mineral water and nutrient solution. Hydroponics technique is gaining popularity in the overall agriculture sector due to the maximum yield obtained by using this certain technique. Furthermore, crops cultivation through hydroponics minimizes the external environmental effects on the growth of crops, as hydroponics offers controlled and precise environment conditions. Hydroponics adoption in agriculture further reduces the natural resources’ burden like water and land, since the water utilized in making the nutrient solution can be reused and recycled.
However, the industry is going through various challenges because of the increasing investments required in setting up a huge hydroponics plant. Furthermore, lack of initiatives by government, particularly in the emerging nations, is also limiting the sector growth. Industry players are predicted to experience several lucrative avenues in the global industry in the coming years, due to the expanding hydroponics applications in several residential and commercial buildings including grocery stores, restaurants, residential terraces, etc.
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Some of the Leading Market Players Are Listed Below:
- Signify Holdings (Netherlands),
- Heliospectra AB (Sweden),
- Argus Control Systems (Canada),
- Emerald Harvest (US),
- American Hydroponics (US),
- Scotts Miracle Gro (US)
Global Hydroponics Market Segmentation:
By Type Outlook
- Aggregate Systems
- Ebb Flow Systems
- Drip Systems
- Wick Systems
- Liquid Systems
- Deep Water Culture
- Nutrient Film Technique
By Equipment Outlook
- LED Grow Lights
- Irrigation Systems
- Material Handling
- Control Systems
By Input Outlook
- Trace Minerals
- Grow Media
- Perlite Vermiculite
- Coco Fiber
By Crop Type
Exponential rise in population, urbanization trends and associated demand for food is likely to drive agriculture market outlook. With increasing disposable income of the populace, demand for high-quality food products is also rising. The governments across the globe are undertaking favorable initiatives to increase their respective agriculture sector output.
According to the WHO and Population Council, nearly 80% of the global population resides in urban cities. The prevailing scarcity of land in urban cities has prompted farmers and growers to adopt new solutions for developing fresh produces. For instance, the vertical farming technique enables consumers to grow crops indoor in layers, in a multi-story building, stacked on racks, or in a warehouse.
The key stakeholders in the farming industry have been focussing on leveraging the prowess of advanced technologies such as big data and IoT. These technologies have proved to be of immense help to obtain precise insights of farming situations which would further aid in better forecasts about agricultural outcomes.
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The Hydroponics market vendors have implemented various types of organic as well as inorganic growth strategies, such as new product launches, product upgradations, partnerships and agreements, business expansions, and mergers and acquisitions, to strengthen their offerings in the market.
The report sheds light on the comprehensive competitive landscape of the global Hydroponics market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts.
Further, the report segments the Hydroponics market on the basis of product types, applications, end-use industries, and technology among others. The report offers insights into key factors influencing the revenue growth of the segment and provides information about lucrative investment opportunities to stakeholders, investors, and clients.
Regional Analysis covers:
- North America
- Rest of EU
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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