At 10.53% CAGR, the hydroponics market will reach $ 18.00 billion by 2025 – The Manomet Current
Hydroponics market is estimated at $ 8.96 billion in 2018 and is expected to reach $ 18.00 billion by 2025 at a CAGR of 10.53% over the forecast period.
The growing world population, the increasing use of hydroponics for indoor farming for fruits and vegetables, the increasing emergence of alternative yield options, the legalization of seeds like marijuana in some countries are the main drivers for the growth of the global hydroponics market.
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Scope of Global Hydroponics Market Report –
Hydroponics is considered a subgroup 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 of the constant use of nutrient solutions. In addition, growing plants by hydroponics can reduce the impact of external environmental factors on plant growth by providing controlled environmental conditions. The use of hydroponics also reduces the impact on natural resources (such as land and water) as it takes up very little indoor space and the water used in the nutrient solution can be recycled. The health risks of synthetic foods are a growing concern, leading to a demand for vegetables and crops grown in a controlled and safe environment. Hydroponic systems also have the advantage of seamless traceability in the event of food contamination, which means that the individual contaminating plants can be quickly identified and isolated. This is not possible with conventional tillage methods because the plant growth cycle is not determined and it is hardly possible to isolate the affected plants.
The global Hydroponics market is segmented based on the equipment, type, plant species, and region. On the basis of the equipment, the market is segmented into Material Handling, LED Grow Light, Control Systems, HVAC, Irrigation Systems, and other equipment. Depending on the type, the market is divided into aggregate hydroponic systems and liquid hydroponic systems. Based on the type of crop, the market is divided into Bell Pepper, Tomato, Cucumber, Salad & 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, the market is divided into USA, Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, Southeast Asia, GCC, Africa, etc.
The main players in the hydroponics market are:
- Show holdings
- Heliospectra AB
- Argus control systems
- Scotts Miracle Gro
- American hydroponics
- Terra Tech Corp.
- Flight operations
- Hydroponic farms
- Triton Foodworks Ltd.
- Village farms
- Green Sense stocks
- Urban cultivator
- Iron ox.
Global Hydroponic Market Dynamics
The growing world population, the increasing use of hydroponics for indoor farming for fruits and vegetables, the increasing emergence of alternative yield options, the legalization of seeds like marijuana in some countries are the main drivers for the growth of the global hydroponics market. According to statistics, the world population will grow to 9 billion people by 2050. In addition, around 3.5% of the world’s surface is used for effective plant and vegetable production through the cultivation of tunnels and greenhouse farms. In addition, increasing consumer awareness of the negative effects of pesticides, aversion to artificial ripening, increasing concerns about health factors addressed through the use of hydroponics and consequently increasing the nutritional value of grown vegetables, low cost and ease of use are other factors important factors contributing to the growth of the Hydroponics market. However, there is a lack of government policy on tax breaks and tax cuts in developing countries. These are found in abundance in industrialized countries, but are not given much attention in developing countries. Growth of the hydroponics market. Increasingly advanced technologies like the IoT are being used to better map the quality of the soil used in agriculture. In addition, there is increasing research and development of hydroponics to help the plant grow faster, reduce the risk of pathogens and reduce costs.
Europe is expected to see the fastest growth in the global hydroponics market
Europe is the dominant region in the market with the largest share of the global hydroponics market as the countries in the region have high demands on plants and early urbanized practices such as adopting technological advances in horticulture for indoor farming. In addition, countries like the UK and France have large areas of indoor or alternative farming where they can apply various technological tools for better crop production, which is the dominance of the region in the hydroponics market. In 2010, the European Environment Agency (EEA) sponsored the establishment of vertical farms to tackle the challenges of climate change and produce food in a more environmentally friendly way, thereby fueling the growth of regional markets. The European Union (EU) is an interesting case study in this regard, characterized by a high proportion of agricultural land (48%) (EC, 2017) and the existence of a long-term Common Agricultural Policy (CAP) in support of agriculture. While the Asia Pacific region is expected to be the fastest growing and have stimulating growth in the hydroponics market. The main reasons for this are the strong adoption of indoor farming in countries like India, Australia and China. They are trying to use as many technologies as possible to effectively use the available land resources as well as innovative practices such as alternative indoor farming to exploit potentially enclosed environments designed to fuel market growth in the APAC region.
|Historical data||2015 – 2020|
|Market size in 2020:||$ 8.96 billion|
|Base year taken into account||2020|
|Forecast period CAGR%:||10.53%|
|Expected market size in 2027:||$ 18.00 billion|
|Tables, Diagrams & Figures:||175|
|Key players / companies||Hydrofarm, Signify Holdings, Heliospectra AB, Argus Control Systems, Scotts Miracle Gro, American Hydroponics, LumiGrow, Terra Tech Corp, Aerofarms, Hydroponic Farms, Triton Foodworks Ltd., Village Farms, Green Sense Holdings, Urban Grubber, Iron Ox|
|Covered segments||By variety, by type of fruit, by equipment|
|Regional analysis||North America, United States, Mexico, Canada, Europe, United Kingdom, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Colombia, Middle East and Africa, GCC, Africa, rest of the Middle East and Africa|
Key Benefits for Global Hydroponics Market Report –
The global market report encompasses an in-depth historical and forecast analysis.
The global market research report contains detailed information on market launch, market overview, world market revenue (revenue USD), market drivers, market restrictions, market opportunities, competitive analysis, regional and country level.
The global market report helps identify market opportunities.
The global market report encompasses a comprehensive analysis of emerging trends and the competitive landscape.
Global Segmentation Of The Hydroponics Market: –
According to equipment: Material handling, LED grow light, control systems, HVAC, irrigation systems, other equipment
By type: Aggregate Hydroponic System, Liquid Hydroponic Systems
By type of crop: Paprika, tomato, cucumber, lettuce & leafy vegetables, strawberry, others
Regional and country analysis: North America, United States, Mexico, Canada, Europe, United Kingdom, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Colombia, Middle East and Africa, GCC, Africa, rest of the Middle East and Africa
Our market research solution offers you an answer to the question below:
- What are the driving factors for the growth of the market?
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- What are the trends in this market?
- Which factors are responsible for the introduction of new products?
- How big is the global & regional market in terms of sales, revenue and production?
- How far will the market grow in terms of sales, revenue and production over the forecast period?
- Which region dominates the world market and what are the market shares of each region in the overall market in 2019?
- How will the individual segments grow in the forecast period and how much revenue will these segments account for in 2027?
- Which region offers more possibilities?
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