Hydroponics Market:
The GMI Research’s latest analysis reveals that the Hydroponics Market is slated to register a significant CAGR over the forecast period. This is attributed to the rising technological improvements in hydroponics systems and the growing acceptance of controlled environment agriculture.
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Hydroponics Market’s leading Manufacturers:
- AeroFarms
- Triton Foodworks
- Terra Tech Corp.
- FREIGHT FARMS, INC.
- Emirates Hydroponics Farms
- Signify Holding
- Heliospectra AB
- The Scotts Company LLC
- Argus Control Systems Limited
- LumiGrow
Hydroponics Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The rising technological improvements in hydroponics systems and the growing acceptance of controlled environment agriculture are the key drivers contributing to the growth of the hydroponics market size. Hydroponic farming offers a higher yield in comparison to traditional agricultural practices. It is encouraged by governments and non-governmental organizations across the nations due to the advantages of hydroponic farming in terms of food security. Due to the growing population, the demand for food is rising. It has been observed that private and public funding brings technological advancement and development in hydroponic systems. These factors act as a vital part in surging the growth of the global hydroponics market share in terms of revenue.
As per the hydroponics market research, the increasing difficulty in raising crops on soil has propelled the demand for hydroponic farming systems due to the increasing success rates of the commercial hydroponics sector in the last years. Enterprises globally are carrying out R & D activities to decrease the price included in this technology. The growing consumption of exotic vegetables and salad is energizing the growth of the market.
Type Segment Drivers
Based on the type, the market is segmented into aggregate systems and liquid hydroponic systems. The liquid hydroponic systems are projected to increase at a faster CAGR during the forecast period. Liquid hydroponic systems are highly cost-efficient and effective than conventional models. These systems are economical as all liquid hydroponic systems run in a closed mode and minimize nutrient solution cost. Liquid hydroponic systems have better productivity as compared to aggregate systems. All these factors are expected to drive the growth of the market.
Regional Drivers
Based on the region, Europe is predicted to increase at a faster CAGR over the coming years due to the high adoption of vertical farming systems and hydroponic systems. Europe is one of the leading regions for the implementation of advanced technologies, such as hydroponic smart greenhouse horticulture. The rapid advancement in greenhouse farming in European nations that include France, Spain, and the Netherlands, will further stimulate market growth. These drivers are responsible for the growth of the market.
Hydroponics Market Segmentation:
Segmentation by Type:
- Aggregate Systems
- The EBB & Flow System
- Drip System
- Wick System
- Liquid Hydroponic Systems
- Deep Water Culture
- Nutrient-Film Technique (NFT)
- Aeroponics
Segmentation by Equipment:
- HVAC
- LED Grow Light
- Irrigation Systems
- Material Handling
- Control Systems
- Others
Segmentation by Input Type:
- Nutrients
- NPK
- Trace Minerals
- Others
- Grow Media
- Rockwool
- Perlite & Vermiculite
- Coco Fiber
- Others
Segmentation by Crop Type:
- Vegetables
- Tomato
- Leafy Greens
- Cucumber
- Peppers
- Others
- Fruits
- Flowers
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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