Hydroponics Market

Hydroponics Market Size (2022 - 2027)

Hydroponics Market was worth USD 289.62 million in 2021 and is expected to reach USD 678.47 million by 2027 with a CAGR of 16.8 %. 

Hydroponics is a soilless cultivating technique used to create high return crops. It is a part of hydroculture, which utilizes mineral arrangements and supplements to develop different plants. Hydroponics utilizes two fundamental mediums to develop crops and they are selection culture and strong medium culture. This strategy is a compelling substitute, which defeats the defects of the typical agribusiness method to a superior degree.

Market Drivers and Restraints

Hydroponics gives a higher yield compared with conventional agricultural techniques. It additionally gives farmers the advantage to develop crops in regions that can't support crops in soil. Moreover, hydroponics removes the use of counterfeit maturing operators and pesticides, which helps in making nutritiously superior vegetable items. These are some of the major factors driving the market. Lack of awareness about the hydroponic agriculture system and high investment required are some of the factors restraining the market growth to an extent.

HYDROPONICS MARKET REPORT COVERAGE:

Market Segmentation:

Hydroponics Market – By Equipment:

• HVAC, LED Grow Light

• Communication Technology

• Irrigation Systems

• Material Handling

• Control Systems

Hydroponics Market – By Type:                                                  

• Aggregate & Liquid

Hydroponics Market – By Crop Type:         

• Tomato

• Lettuce & Leafy Vegetables

• Cucumber

• Pepper & Strawberry

Hydroponics Market – By Input Type:                                         

• Nutrients

• Growth Medium

Hydroponics Market – By Aggregate Hydroponic System:      

• Closed Systems

• Open Systems.

Hydroponics Market – By Liquid Hydroponic system:     

• Nutrient Film Technique (NFT)

• Floating Hydroponics

• and Aeroponics.

Hydroponics Market – By Closed Systems:                                 

• The Water Culture System

• The EBB and Flow System

• Drip Systems

• and The Wick System.

HVAC has the largest market share, followed by LED grow lights, in 2014. HVAC is dominating the market as heating, ventilation, and air-conditioning are the major elements required to create a controlled environment for hydroponic cultivation.

Hydroponics Market – By Regions:                                             

• North America.

• Europe

• Asia-Pacific

• Latin America

• Middle East and Africa

Europe dominates the global market with the highest share while North America is projected to be the fastest-growing market during the forecast period.

Key Players in this Market:

Major Players dominating the market are Argus Control Systems, Koninklijke Philips NV, Greentech Agro LLC, Logiqs B.V., Lumigrow, Inc. and General Hydroponics, Inc.