At 10.53% CAGR, Hydroponics Market Size Expected to Register USD 18.00 Billion by 2025 – The Manomet Current
Hydroponics Market is valued at $ 8.96 billion in 2018 and is expected to reach $ 18.00 billion by 2025 with a CAGR of 10.53% over the forecast period.
Rising world population, increasing use of hydroponics for indoor farming for fruits and vegetables, increasing advent of alternative yield options, legalization of seeds like marijuana in some countries , are the major growth factors of the global hydroponics market.
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Scope of Global Hydroponics Market Report –
Hydroponics is considered a subset of hydroponics and refers to the agricultural techniques used to grow plants in environments without soil (such as mineral nutrients and aqueous solutions). Hydroponic plants grown under the same conditions grow 3050% faster than soil plants. Nutrients from the hydroponic system are processed with water and introduced into the root system. Additionally, hydroponic gardening requires less water than soil gardening because they constantly use nutrient solutions. Additionally, hydroponics can reduce the impact of external environmental factors on crop growth, as it can provide controlled environmental conditions. The use of hydroponics also reduces the load on 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. There are growing concerns about the health risks of synthetic foods, leading to a 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 because the growth cycle of plants is not determined and it is almost impossible to isolate affected plants.
The 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 lights, control systems, HVAC, irrigation systems, and other equipment. On the basis of type, the market is segmented into overall hydroponic system and liquid hydroponic systems. On the basis of crop type, the market is segmented into Pepper, Tomato, Cucumber, Lettuce and Leafy Vegetables, Strawberry and others.
The regions covered by this Hydroponics Market report are North America, Europe, Asia-Pacific and Rest of the World. Based on country level, the market is divided into United States, Mexico, Canada, United Kingdom, France, Germany, Italy, China, Japan, India, Southeast Asia, GCC, Africa, etc.
The major players in the Hydroponics market are,
- Signify holdings
- Heliospectre AB
- Argus control systems
- Scotts Miracle Gro
- American hydroponics
- Terra Tech Corp
- Air farms
- Hydroponic farms
- Triton Foodworks Ltd.
- Village farms
- Green Sense Holdings
- Urban cultivator
- Iron buffalo.
Global Hydroponics Market Dynamics-
Rising world population, increasing use of hydroponics for indoor farming for fruits and vegetables, increasing advent of alternative yield options, legalization of seeds like marijuana in some countries , are the major growth factors of the global hydroponics market. According to statistics, the world population will reach 9 billion by 2050. In addition, about 3.5% of the world area is used by cultivation in tunnels and greenhouses for efficient agricultural and vegetable production. In addition, the growing consumer awareness of the harmful effects of pesticides, the detriment of artificial ripening, the increased concern about the health factors taken into account by the use of hydroponics, which consequently increase the nutritional value of the plants. cultivated vegetables, low cost and ease of use are other major factors. which are contributing to the growth of the Hydroponics market. However, there is a lack of policies by the government regarding tax breaks and tax cuts in developing economies. These are found in large quantities in developed countries but do not receive much attention in developing countries. In addition, houseplants are always at risk of infection with algae in closed environments. These factors are expected to act as restraints for the growth of the hydroponics market. There is a growing incorporation of advanced technologies like IoT to better map the quality of soil used in agriculture. In addition, increasing efforts are being made in the research and development of hydroponics in order to make the plant grow faster, reduce the risk of pathogens and reduce costs.
Europe Expected to Experience Fastest Growth in Global Hydroponics Market
Europe is the dominant market region with the largest share of the global hydroponics market, as countries in the region are very demanding on crops and early urbanized practices such as adopting technological advancements in horticultural practices for indoor farming. In addition, countries like the UK and France have vast tracts of land available for domestic or alternative agriculture, to which they can apply various technological aids for better agricultural production, which explains the region’s dominance over the hydroponics market. In 2010, the European Environment Agency (EEA) encouraged the establishment of vertical farms to overcome the challenges of climate change and produce food in a more environmentally friendly way, thus 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 common agricultural policy (CAP ) in the long term to support agricultural products. While the Asia-Pacific region is expected to grow at a faster rate and show stimulating growth in the hydroponics market. The main reasons being the substantial adoption of indoor farming in countries like India, Australia and China. They are trying to adopt as many technologies to efficiently use the available land resources, as well as innovative practices such as alternative indoor farming to utilize the potential closed environments, which is expected to drive the market growth in the APAC region.
|Analysis of the report||Details|
|Historical data||2015 – 2020|
|Forecast period||2021 – 2027|
|Market size in 2020:||$ 8.96 billion|
|Reference year considered||2020|
|CAGR% forecast period:||10.53%|
|Market size expected in 2027:||$ 18.00 billion|
|Tables, charts and 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 Cultivator, Iron Ox|
|Covered segments||By type, by type of crop, 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, CCG, Africa, Rest of Middle East and Africa|
Key Benefits of Global Hydroponics Market Report –
The global market report covers in-depth historical and forecasting analysis.
The global market research report provides detailed information regarding market introduction, market summary, global market revenue (revenue in USD), market drivers, market restraints, opportunities market, competitive analysis, regional and national levels.
The global market report helps in identifying opportunities in the market.
The global market report covers an in-depth 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: Global hydroponic system, liquid hydroponic systems
By type of crop: Pepper, Tomato, Cucumber, Lettuce & Leafy vegetables, Strawberry, Others
Regional and national 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, CCG, Africa, Rest of Middle East and Africa
Our market research solution provides you with an answer to the question mentioned below:
- What are the driving factors responsible for the growth of the market?
- What are the factors blocking this market?
- What are the new opportunities, by which market will grow in the years to come?
- What are the trends in this market?
- What are the main factors responsible for launching new products?
- What is the size of the global and regional market in terms of revenue, sales and production?
- How much will the market grow over the forecast period in terms of revenue, sales and production?
- Which region dominates the global market and what are the market shares of each region in the global market in 2019?
- How will each segment grow over the forecast period and how much revenue will these segments represent in 2027?
- Which region has more opportunities?
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