Hydroponics Market is Expected to Witness a Significant Growth Through 2025
Growing concern about food safety and increasing adoption
rate of hydroponic farming systems are fuelling the growth of global hydroponics
market.
According
to TechSci Research report, “Global
Hydroponics
Market By Type (Aggregate Systems v/s Liquid Systems), By Equipment (HVAC, LED grow light, Control systems, Irrigation systems,
Material handling, Others), By Input (Nutrient v/s Growth Media), By
Farming Method (Indoor v/s Outdoor), By Crop Area (up 1000 Square feet,
1000-5000 Square feet, 5001-10000 Square feet, 10000-50000 Square feet, Above
50000 Square feet), By Crop Type (Vegetables, Fruits, Flowers, Others), By Region,
Forecast & Opportunities, 2025”, the market is anticipated to grow at a double digit CAGR
during the forecast period. Outbreak of COVID-19 has led to growing concern for
health and food safety and increasing inclination of people towards homemade
food which is casting a positive impact on global hydroponics market. The
increased adoption of urban hydroponic farming systems is also acting as major
growth driver for this market. Moreover, pursuit for high-yielding farming
techniques owing to growing demand for grains and food is fostering the global
hydroponics market growth. Apart from this, according to UN report, plants grown
in hydroponic systems have been proven to have achieved 20%–25% higher yield.
Thus, this technique is increasingly being adopted by farmers around the world.
Additionally,
manufactures and researchers are undergoing extensive R&D activities to
introduce innovative hydroponic technologies which is acting as a major booster
for the growth of global hydroponics market. The harmful effects of pesticides
and artificial ripening agents and growing awareness among consumers is also
creating high demand for hydroponics as it eliminates the need for such
products. Furthermore, ease of installation and low cost of hydroponics systems
are expected to fuel the market growth through 2025.
Browse XX market data Tables and XX Figures spread through XX Pages and an in-depth TOC on "Global Hydroponics Market".
Global
hydroponics market is segmented based on type, equipment, input, farming
method, crop area, crop type, company, and region. Based on type, the market
can be categorized into aggregate systems and liquid systems. Among them, the liquid
systems segment is expected to dominate the market during the forecast period
owing to their affordability, efficiency, and ability to increase the overall
productivity.
Based
on equipment, the global hydroponics market can be segmented into HVAC, led
grow light, control systems, irrigation systems, material handling and others.
Among them, HVAC segment is expected to undergo a significant growth during the
forecast period on account of its increasing usage in development of indoor
growers. HVACs are responsible for dehumidification, cooling and maintaining
the optimum temperature inside the facility.
Major players operating in the global hydroponics
market are Signify Holdings, Argus Control Systems Ltd., Heliospectra AB,
Scotts Miracle Gro, American Hydroponics, LumiGrow, Kubo Group, Hortisystems UK
Limited, GreenTech Agro LLC, Hydrofarm, Inc., Amhydro, Triton Foodworks,
AeroFarms, Crop One Holdings and SugarMade (BZERTH Inc.). Key growth strategies
being adopted by leading companies are product innovation, collaborations,
mergers & acquisitions, and partnerships.
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“Europe
serves as the largest market for global hydroponics market and is expected to
contribute to high revenue growth through 2025 owing to implementation of advanced
techniques in hydroponics smart greenhouse horticulture. Countries like France,
Netherlands and Spain constitute more than half of the market share in Europe.
However, Asia Pacific is expected to undergo fastest growth during the forecast
period due to increasing adoption of hydroponics in countries like India and
China,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Global Hydroponics Market By Type (Aggregate
Systems v/s Liquid Systems), By Equipment (HVAC, LED grow light, Control
systems, Irrigation systems, Material handling, Others), By Input (Nutrient v/s
Growth Media), By Farming Method (Indoor v/s Outdoor), By Crop Area (up 1000
Square feet, 1000-5000 Square feet, 5001-10000 Square feet, 10000-50000 Square
feet, Above 50000 Square feet), By Crop Type (Vegetables, Fruits, Flowers,
Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of hydroponics
market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in global hydroponics market.
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