Hydroponics Market Size, Share, Forecast

 

Hydroponics Market

Hydroponics Market was valued at USD 8,389 Million in 2019 and projected to expand at 11% CAGR over the forecast period (2020-2027).

The factors driving the growth of Hydroponics Market includes expanding food production and distribution across the world, growing consciousness about consuming fresh vegetables and rising population levels. As per the report published by Food and Agriculture Organization (FAO), the food production is anticipated to increase from 25% to 70%, due to increasing population level around the world, which will increase the Global Hydroponics Market in the coming years. In addition, the increasing technological innovations in hydroponics systems and rising Government emphasis on Hydroponics farming, are some of the factors boosting the Hydroponics Market Size around the world. According to the National Horticulture Board, the Government of India is planning to provide financial assistance for hydroponics and aerospace projects by giving Credit-linked back-ended subsidies, which will increase the Hydroponics Market Growth in India.

The prominent players operating in the market are Emirates Hydroponics Farms, Signify Holding, The Scotts Company LLC, Argus Control Systems Limited, FREIGHT FARMS, INC., Heliospectra AB, LumiGrow, Triton Foodworks, AeroFarms, and Terra Tech Corp. among others.

Type: Segment Analysis

Based on the type, the liquid hydroponic systems segment is projected to expand at a faster CAGR during the forecast period owing to its cost-efficient features and its higher productivity as compared to aggregate systems.

Equipment: Segment Analysis

Based on the equipment, the HVAC segment is expected to grow at a higher CAGR over the forecast period due to its growing use in aeroponic and hydroponic farms along with its ability to maintain the required temperature.

Crop type: Segment Analysis

Based on the input type, the fruits segment is predicted to grow at a significant CAGR over the forecast period because it makes convenient for farmers to produce cantaloupe and watermelon through hydroponic techniques.

Regional: Segment Analysis

As per Hydroponics Market Research, Europe region is projected to expand at a remarkable CAGR during the forecast period owing to increasing use of smart greenhouse horticulture, along with increasing consumption of organic fruits and vegetables.

Market Segmentation

Global Hydroponics Market by Type

        • Aggregate Systems
          • The EBB & Flow System
          • Drip System
          • Wick System
        • Liquid Hydroponic Systems
          • Deep Water Culture
          • Nutrient-Film Technique (NFT)
          • Aeroponics

Global Hydroponics Market by Equipment

        • HVAC
        • LED Grow Light
        • Irrigation Systems
        • Material Handling
        • Control Systems
        • Others

Global Hydroponics Market by Input Type

        • Nutrients
          • NPK
          • Trace Minerals
          • Others
        • Grow Media
          • Rockwool
          • Perlite & Vermiculite
          • Coco Fiber
          • Others

Global Hydroponics Market by Crop Type

        • Vegetables
          • Tomato
          • Leafy Greens
          • Cucumber
          • Peppers
          • Others
        • Fruits
        • Flowers
        • Others

Global Hydroponics Market by Region

        • Asia Pacific
          • China
          • Japan
          • India
          • Rest of APAC
        • North America
          • United States of America
          • Canada
        • Europe
          • United Kingdom
          • Germany
          • France
          • Spain
          • Rest of Europe
        • RoW
          • Brazil
          • South Africa
          • Saudi Arabia
          • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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