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:
REPORT METRIC |
DETAILS |
Market Size Available |
2021 – 2026 |
Base Year |
2020 |
Forecast Period |
2022 - 2027 |
CAGR |
16.8% |
Segments Covered |
By Equipment, Type, Crop Type, Input Type, Aggregate Hydroponics Systems, Liquid Hydroponics Systems, Closed Systems and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Argus Control Systems, Koninklijke Philips NV, Greentech Agro LLC, Logiqs B.V., Lumigrow, Inc. and General Hydroponics, Inc. |
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.
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