The GMI Research forecasts that the hydroponics market is witnessing an upsurge in demand over the forecast period. This is mainly due to the rising acceptance of controlled environment agriculture and rapid technological enhancements in hydroponics systems.
Introduction of the Hydroponics Market:
Hydroponic farming refers to a type of horticulture and is used to cultivate plants by utilizing mineral nutrient solutions in an aqueous solvent and without soil. In hydroponic systems, the nutrients generally used come from multiple sources, including artificial nutrient solutions, purchased chemical fertilizers, duck manure, and fish excrement. In this system, plant roots grow inside the moist inert materials, including rockwool and vermiculite, or in a liquid nutrient solution. The liquid nutrient solution is made by the combination of essential plant nutrients in the water.
Hydroponics Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The rising acceptance of controlled environment agriculture and rapid technological enhancements in hydroponics systems are the major factors surging the growth of the hydroponics market size. Hydroponic farming offers a higher yield in comparison to traditional agricultural practices. It is generally encouraged by non-governmental and government organizations across the nations due to the several advantages of hydroponic farming for food security. There is an upsurge in demand for food as the population is also growing. The growing public and private funding to create technological advancement and expansion in hydroponic systems is further energizing the growth of the global hydroponics market share in terms of revenue.
According to the hydroponics market research, the increasing difficulty in cultivating crops on soil has enhanced the demand for hydroponic farming systems due to the rising success rates of the commercial hydroponics industry in the past few years. Companies around the globe are carrying out R&D activities to decrease the cost involved in this technology. The growing consumption of exotic vegetables and salad is one of the emerging hydroponics market trends that is accelerating the growth of the global hydroponics market.
Based on the region, Europe is anticipated to grow at a higher CAGR during the forecast period owing to the rising adoption of vertical farming systems and hydroponic systems in this region. The European countries are implementing vast techniques in hydroponic smart greenhouse horticulture. The rising advancement in greenhouse farming in European countries include France, Spain, and the Netherlands, will boost the market. These factors offer significant growth to the global hydroponics market in Europe.
Key Players of the Global Hydroponics Market:
- 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 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)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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