Hydroponics Market is valued at USD 8.96 Billion in 2018 and expected to reach USD 18.00 Billion by 2025 with the CAGR of 10.53% over the forecast period.
Increasing global population, rising usage of hydroponics for indoor agriculture for fruits and vegetables, growing advent of alternate yielding options, legalization of seeds like marijuana in some countries, are the major factors for driving the growth of Global Hydroponics Market.
Scope of Global Hydroponics Market Report–
Hydroponics is considered a subset of hydroponics and refers to the agricultural techniques used to grow plants in soilless environments (such as mineral nutrients and aqueous solutions). Hydroponic plants grown under the same conditions grow 3050% faster than soil plants. The nutrients in the hydroponic system are treated with water and introduced into the root system. In addition, hydroponic gardening requires less water than soil gardening because they constantly use nutrient solutions. In addition, growing crops by hydroponics can reduce the impact of external environmental factors on crop growth because it can provide controlled environmental conditions. The use of hydroponics also reduces the burden of natural resources (such as land and water) as it requires very little interior space and the water used in the nutrient solution can be recycled. The health risks of synthetic foods are causing increasing concern, resulting in demand for vegetables and crops grown in a controlled and safe environment. Hydroponic installations also have the advantage of having full traceability in the event of food contamination, where the individual plants causing the pollution can be quickly identified and isolated. In conventional soil cultivation methods, this is not possible since the plant growth cycle is not determined and it is almost impossible to isolate the affected plants.
Global Hydroponics market is segmented on the basis of equipment, type, Crop type and region. On the basis of equipment, the market is segmented into material handling, led grow light, control systems, HVAC, irrigation systems and other equipment. On the basis of type, the market is segmented into aggregate hydroponic system and liquid hydroponic systems. On the basis of crop type, the market is segmented into pepper, tomato, cucumber, lettuce & leafy vegetables, strawberry and others.
The regions covered in this Hydroponics market report are North America, Europe, Asia-Pacific and Rest of the World. Based on the country level, market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key players of the Hydroponics market are,
Argus Control Systems
Scotts Miracle Gro
Terra Tech Corp
Triton Foodworks Ltd.
Green Sense Holdings
Global Hydroponics Market Dynamics-
Increasing global population, rising usage of hydroponics for indoor agriculture for fruits and vegetables, growing advent of alternate yielding options, legalization of seeds like marijuana in some countries, are the major factors for driving the growth of Global Hydroponics Market. As per the statistics, the world population will reach to 9 billion by 2050. Also, around 3.5% of the world’s area is utilized by the cultivation under tunnels and greenhouse farms for an effective crop and vegetable production. Moreover, rising awareness among consumers regarding the bad effects catered by pesticides, disfavor of artificial ripening, increased concern over health factors kept in consideration by using hydroponics, that consequently increase the nutritional value of farmed vegetables, low cost and easy operation are other major factors that are contributing for the growth of Hydroponics market. However, there is a lack of policies by government regarding tax breaks and tax cuts in developing economies. These are found in ample amount in the developed countries but are not paid much attention to in developing countries, additionally, there is always a risk with indoor plants to get infected with algae in closed environments, these factors are expected to act as restraints for the growth of Hydroponics market. There is a growing incorporation of advanced technologies like IoT to better map the quality of soil used in farming. Additionally, increasing endeavours are being applied in research and development of hydroponics in order to make the plant grow faster, reduce the risks of pathogens, and lower the cost.
Europe is expected to Witness a Fastest Growth in the Global Hydroponics Market
Europe is the dominant region in the market with the largest share of the global Hydroponics market, owing to the countries in the region being highly demanding for crops and early urbanized practices like adoption of technological advances in practices of horticulture for indoor farming. Additionally, countries like UK, France have large areas of land available for indoor or alternative farming, to which they can apply various technological aids for a better crop production, which accounts for the region’s dominance in the hydroponics market. In 2010, the European Environment Agency (EEA) encouraged the creation of vertical farms to overcome the challenges of climate change and produce food in a more environmentally friendly way, thereby promoting the growth of regional markets. The European Union (EU) is an interesting case study in this regard, characterized by a high proportion of land used for agriculture (48%) (EC, 2017) and the existence of a long-term common agricultural policy (CAP) to support agriculture produce. Whereas Asia Pacific region is expected to grow at a fastest rate and exhibit a spurring growth in the Hydroponics market. The major reasons being substantial adoption of indoor farming in countries like India, Australia and China. They are trying to adopt as many technologies to effectively utilize the available land resources and also innovative practices like alternate indoor farming to make use of potential closed environments, which is expected to boost the market growth in APAC region.
Key Benefits for Global Hydroponics Market Report–
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
Global Hydroponics Market Segmentation:–
By equipment: Material Handling, LED Grow Light, Control Systems, HVAC, Irrigation Systems, Other Equipment
By Type: Aggregate Hydroponic System, Liquid Hydroponic Systems
By Crop Type: Pepper, Tomato, Cucumber, Lettuce & Leafy Vegetables, Strawberry, Others
Regional & Country Analysis: North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
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