Latin America Hydroponics Market

Latin America Hydroponics Market Size & Growth (2022 - 2027):

The Latin America Hydroponics Market had a market value of USD 65.13 million in 2021 and is forecasted to exhibit a CAGR of 16.7% and reach USD 115.83 million by 2026.

Hydroponics is a part of hydroculture where plants are developed with their roots suspended specifically into the water with no soil. This is just a type of hydroponic cultivating known as N.F.T. and there are many methods known as hydroponic cultivating. Hydroponics removes the restrictions for growing crops like seasons or climate.

Drivers and Restraints:

One of the important drivers is that hydroponics gives a higher yield compared with conventional agricultural techniques. It additionally gives farmers the capacity 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. Lack of awareness about the hydroponic agriculture system and high investment are some of the factors restraining the market growth to an extent.

LATIN AMERICA HYDROPONICS MARKET REPORT COVERAGE:

Market Segmentation:

Latin America Hydroponics Market – By Equipment:

• HVAC

• LED Grow Light
• Communication Technology
• Irrigation Systems
• Material Handling
• Control Systems

Latin America Hydroponics Market – By Type:

• Aggregate & Liquid

Latin America Hydroponics Market – By Crop Type:

• Tomato
• Lettuce & Leafy Vegetables
• Cucumber
• Pepper & Strawberry

Latin America Hydroponics Market – By Input Type:

• Nutrients
• Growth Medium

Latin America Hydroponics Market – By Aggregate Hydroponics Systems:

• Closed Systems
• Open Systems

Latin America Hydroponics Market – By Liquid Hydroponic Systems:

• Nutrient Film Technique (NFT)
• Floating Hydroponics
• Aeroponics

Latin America Hydroponics Market – By Closed Systems:

• The Water Culture System
• The EBB and Flow System
• Drip Systems
• 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.

Geographical Analysis:

Geographically, the market is further segmented into

• Brazil
• Argentina
• Mexico

Developing regions like Brazil are creating new opportunities owing to an increase in food demand, advancing agricultural technique, and a growing economy.

Key Players: 

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