Global Hydroponics Market Report 2021
Dublin, February 11, 2021 (GLOBE NEWSWIRE) – The “Hydroponics Market by Type (aggregate systems, liquid systems), harvest type (vegetables, fruits, flowers), equipment (HVAC, LED grow lights, irrigation systems, material handling equipment, control systems), input type and Region – Global Forecast to 2026 “report was added ResearchAndMarkets.com Offer.
The global hydroponic systems market is estimated at $ 9.5 billion in 2020 and is expected to reach $ 17.9 billion by 2026.
Compared to traditional agriculture, hydroponics provides higher yields, allows a high density of plants to grow in the same region, and can grow plants all year round. Smart greenhouses offer different types of covering materials such as glass or plastic roof and often glass or plastic walls.
It is an emerging application with high growth potential that uses various technologies such as HVAC systems, LED grow lights, communication technology, irrigation systems, material handling, valves and pumps, and control systems. LED grow lights and HVAC are the major shareholders in the smart greenhouse market.
The increasing population and demand for food in developing regions such as the Asia-Pacific region is fueling the growth of the smart greenhouse market. The need for fresh food in the Middle East creates an opportunity for urban agriculture in the region. The increasing trend of roof breeding and the increasing population are two main drivers for the market.
By Type, the liquid subtype is forecast to have the largest share of the Hydroponic Systems market during the forecast period.
Liquid systems are inherently closed systems; The plant roots are exposed to the nutrient solution without any growth medium, and the solution is recycled and reused. Therefore, these systems are most preferred for crop production in developed countries and have enormous growth potential in the future. In addition, systems such as DWC and NFT were investigated for use in hybrid agriculture, combining aquaculture with hydroponics.
In terms of features, the LED grow lights subtype is expected to be the fastest growing segment in the hydroponic systems market during the forecast period.
The spectrum of light emitted by LED lights has been shown to be effective in stimulating plant growth and is increasingly in demand by hydroponics. Plants like tomatoes, lettuce, spinach, kale, strawberries, peppers, beets and other vegetables can be grown with LED grow lights. The increasing acceptance and demand for LED grow lights has resulted in older and inefficient halogen power packs being banned in the European Union from September 2018. These factors are expected to further drive demand for LED grow lights.
In terms of inputs, the nutrients subsegment is expected to dominate the hydroponic inputs market during the forecast period.
Nutrients are used in both aggregate and liquid hydroponic systems. There are several types of nutrients needed to formulate the nutrient solution. Nitrogen and potassium are the two most important nutrients needed for healthy plant growth, with the plants needing more nitrogen. In addition, growers’ increasing focus on growing crops is driving the growth in the market for potassium-based nutrients in hydroponics.
In terms of harvest types, the vegetable sub-segment is likely to dominate the hydroponic plant market in the forecast period.
Vegetables grown using hydroponics are known to grow faster and stronger than traditional agriculture because the right nutrients are delivered directly to the roots of the plant. The requirements for growing vegetables indoors in a hydroponic unit can be met with the help of light, ventilation and circulation systems, as well as the right nutrients for the water.
It is known that hydroponically grown plants retain their full nutritional value and are equal to or in certain cases superior to conventionally grown vegetables. The growing demand for fresh vegetables in both developed and developing countries is driving the vegetable segment in the hydroponic market.
Main topics covered:
- The increasing acceptance of greenhouse horticulture supports the growth of the hydroponics market
- Liquid hydroponic systems are becoming increasingly popular for growing vegetables
- Europe: The Netherlands will be one of the world’s largest consumers in 2020
- Europe recorded the largest market share in hydroponics in 2020
- High growth is forecast for the Asian countries in the forecast period
- Higher yield compared to traditional farming practices
- Controlled environmental management helps to eliminate the impact of external factors on plant growth
- Hydroponic systems help to conserve natural resources
- Improved yield and productivity with limited land resources
- Less water use compared to traditional cultivation methods
- An increased demand for cannabis is believed to fuel the demand for hydroponics
- High capital investment for large companies
- A lack of government incentives and high prices for hydroponically grown products have a negative impact on market acceptance
- Hydroponics grew in popularity for high profit margins
- Increasing use of hydroponic systems in restaurants and grocery stores since the COVID-19 pandemic
- Development of the organic market
- Spread of waterborne diseases and algae in closed systems
- Risk of equipment failure and a delay in the learning curve for producers resulting in limited market growth
Company microquadrants and company profiles
System input company
- Holding mean
- Heliospectra Ab
- Scotts Miracle Gro
- Argus control systems
- Logiqs BV
- Hydroponic System International
- Hydrodynamics International
- American hydroponics
- Advanced nutrients
- Emerald harvest
- Grobo Inc.
Hydroponic plant producers
- Terra Tech Corp.
- Triton Foodworks Pvt. GmbH.
- Cargo farms
- Green Sense Farms
- Emirates Hydroponic Farm
- Gotham Greens
- wonder of nature
- Bright farms
- In the farm
- Badia farms
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