Impact of COVID-19: Hydroponics Market is projected to reach a value of over USD 16.6 billion by 2027 at a CAGR of around 10.2%.
Hydroponics MARKET: Summary
The Global Hydroponics Market is projected to reach a value of over USD 16.6 billion by 2027 at a CAGR of around 10.2%.
Hydroponics is a traditional plant growing method by using mineral nutrient solutions in a water instead of soil. Hydroponics used to grow crops where the soil is unsuitable. Currently, hydroponic cultivation is gaining popularity across the globe due to efficient resources management and quality food production. It has several advantages which includes faster growth of crops, increased crop yield, less water consumption than soil-grown crops, minimal disease while eliminating pest incidence and weeding, spraying, and watering.
Hydroponics MARKET: Drivers & CHALLENGES
- High Yield and Faster Growth of Crops
World’s population is projected to reach 9.7 billion by 2050. At the same time, it has been expected that 50% of the arable land around the world will be unusable for farming. As the world population grows, the demand for food products grow as well. Due to the growing demand, there will be an expected food crisis in the coming years. To prevent future food crises, different farming methods and sources of food must be used. Many innovative systems have been developed that replace the traditional gravel-filled bed, and hydroponics is one of the best among them. The hydroponic method controlling the environmental factors such as temperature, oxygen, and carbon dioxide levels, root saturation, and water nutrient contents, is the prime factor, that affects plant growth. Plants are getting the sustenance they need and can, therefore, grow better.
Thus, high yield and faster growth of crops is the key factor thet help to boost the market growth during the forecast period.
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- Initial Cost Is Higher Than the Soil Culture
Cost is the only major restraining factor towards the growth of the hydroponic market. The upfront, as well as operational cost, tend to be higher for hydroponics than they are for normal soil gardens. Apart from the soil, the installation of a growing system along with substrates, control systems, and LED lighting are some components that directly increase the initial cost of the hydroponic system.
Hydroponics market: Key segments
- Segmentation based on system: Wick, Deep Water Culture, Ebb & Flow, NFT (Nutrient Film Technique), Drip, Aeroponics, and Aquaponics.
- Segmentation based on equipment: HVAC, LED Grow Light, Control Systems, Irrigation Systems and Others.
- Segmentation based on the growing substrates: Grow Media and Nutrients.
- Segmentation based on crop type: Vegetables, Fruits, Flowers and Others
- Segmentation based on region covers: North America, Asia-Pacific, Europe, Middle East & Africa and South America, with individual country-level analysis.
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Hydroponics MARKET: Report SCOPE
The report on the Hydroponics market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report FeaturesSpecificsHistorical/Estimated/Forecasted Market Size Years2019–2027Base Year for Market Calculation2020Forecasted Period2021–2027 (2020 estimated year, forecasted up to 2027)Measured UnitsValue (USD Million)Segments IncludedSystem, Equipment, Growing Substrates, and Crop TypeRegional CoverageNorth America, Asia-Pacific, Europe, Middle East & Africa, and South Africa
KEY Companies Covered
- Signify Holding (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Heliospectra AB
- The Scotts Company LLC
- Argus Control Systems Limited.
- LOGIQS B.V.
- Hydroponic Systems
- Hydrodynamics International
- Advanced Nutrients
- HydroGarden Ltd
- ESPEC MIC Corp.
- Triton Foodworks
- Freight Farms
- Other Key Companies
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Hydroponics MARKET: report segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Hydroponics Market, by System
- Deep Water Culture
- Ebb & Flow
- NFT (Nutrient Film Technique)
Hydroponics Market, by Equipment
- LED Grow Light
- Control Systems
- Irrigation Systems
Hydroponics Market, by Growing Substrates
- Grow Media
- Oasis cubes
- Expanded Clay
- Coconut Fiber
- Trace Minerals
Hydroponics Market, by Crop Type
Hydroponics Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
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Table of Content
2 Research Design & Scope
3 Executive Summary
4 Market Dynamics
5 Industry Trends — Porters Five Forces Analysis
6 Global Bioinsecticides Market By System, Market Size In Usd Million (2019–2027)
7 Global Bioinsecticides Market By Equipment, Market Size In Usd Million (2019–2027)
8 Global Bioinsecticides Market By Growing Substrates, Market Size In Usd Million (2019–2027)
9 Global Bioinsecticides Market By Crop Type, Market Size In Usd Million (2019–2027)
10 Competitive Landscape
11 Company Profiles
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