Global Hydroponics Market Report 2021: The market size is forecast to reach $ 9.76 billion by 2028, with a CAGR of 20.7%

Dublin, October 22nd, 2021 (GLOBE NEWSWIRE) – The “Hydroponics Market Size, Share and Trend Analysis Report by Type (Aggregate Systems, Liquid Systems), by Plants (Tomatoes, Lettuce, Peppers, Cucumbers, Herbs), by Region, and Segment Forecasts , 2021-2028 “report was added ResearchAndMarkets.com to offer.

The global hydroponics market size is estimated at $ 9.76 billion by 2028, corresponding to a CAGR of 20.7% from 2021 to 2028

The introduction of smart farming technologies like vertical farming, which have helped hydroponics develop, is expected to fuel market growth. Continuous improvements in hydroponic technologies and the introduction of innovative, cutting-edge technologies, including environmental and temperature sensing, remote growth monitoring, and automatic nutrient measurement, are likely to drive demand.

Depending on the type, the market is divided into aggregate systems and fluid systems. The aggregate systems segment is likely to continue to hold the largest market share in the forecast period. The Fluid Systems segment is expected to expand at a high CAGR over the forecast period.

Aggregate hydroponic farming encompassed several technologies, namely drip, wick, and ebb and flow. Here, the plants are grown in the presence of a medium such as rock wool, perlite and others. It is important for farmers to choose the right media for specific crops as they vary in pH and thickness, which can hinder the proper growth of roots.

However, the liquid systems eliminate the use of such media and deliver the nutrients directly to the roots, reducing the time required for yield. Hence, the adoption of fluid systems such as deep sea culture and the Nutrient Film Technique (NFT) is expected to see significant growth over the forecast period.

The main crops grown by the hydroponics method are tomatoes, lettuce, cucumbers and herbs. The majority of indoor farmers use hydroponic systems to grow tomatoes. As a result, the tomato segment will dominate the overall market in 2020 and is expected to continue its dominance during the forecast period.

Europe held the largest share of the hydroponically grown tomato market in 2020 due to the high cultivation rate in the Netherlands and Italy. The increasing demand for organically grown, pesticide-free, and highly nutritious vegetables is expected to drive the introduction of hydroponics for growing lettuce and other leafy vegetables along with other indoor growing techniques.

Among all the leafy vegetables, green leaf lettuce is gaining increasing popularity among growers due to its high consumption and global demand. However, due to the changing and favorable regulations for the growth of legalized marijuana, cannabis growers around the world are increasingly turning to the hydroponic cultivation method.

The Asia-Pacific region held the largest market share in 2020 as countries like China, South Korea, and Japan find lucrative opportunities in hydroponic farming to meet growing food needs. However, given the favorable government scenario for developing and adopting alternative agricultural technologies, Europe is expected to experience the fastest CAGR over the forecast period.

Hydroponics Market Report Highlights

  • In the Middle East, South America and the Asia-Pacific region, due to a lack of government incentives to build infrastructure, a mild increase in the introduction of hydroponics is expected.
  • The increasing demand for medicinal and recreational cannabis is expected to encourage adoption by indoor farmers from Canada, Georgia, South Africa, and other such countries.
  • NFT in the liquid hydroponic systems is one of the widely used methods used by indoor farmers. However, the state-of-the-art NFT technology is becoming more and more popular with breeders.
  • The Asia-Pacific region held the largest market share in 2020 due to significant demand from countries such as South Korea, China, India and Hong Kong.
  • Europe is likely to emerge as the leading segment and hold the largest market share through 2028. Countries like the Netherlands, Turkey, and Spain have high hydroponics adoption rates.
  • With the presence of market players such as Hydroponic Systems, Cultura H and General Hydroponics, Mexico is expected to offer lucrative opportunities in the near future. In addition, the arid lands that extend over 100 million hectares in the country are restricting agricultural expansion and driving the adoption of hydroponics and other vertical farming technologies.

Competitive landscape

  • AeroFarms
  • AmHydro
  • Argus Control Systems Limited
  • Emirates Hydroponics Farms
  • Goods farms
  • Green Sense Farms Holdings, Inc.
  • Heliospectra AB
  • LumiGrow
  • Keep
  • Terra Tech Corp.

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