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.
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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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