Hydroponics Market Size – USD 9.5 Billion in 2020, Growth – at a CAGR of 11.3%, Trends –Growing development of innovative hydroponic technologies
The global hydroponics market is foreseen to be valued at USD 22.2 Billion by 2028 from USD 9.5 Billion in 2020, registering a CAGR of 11.3% through the estimated timeline. An agricultural technique—hydroponics is generally used for growing plants or crops in a soil-less medium, including a mineral water and nutrient solution. Hydroponics technique is gaining popularity in the overall agriculture sector due to the maximum yield obtained by using this certain technique. Furthermore, crops cultivation through hydroponics minimizes the external environmental effects on the growth of crops, as hydroponics offers controlled and precise environment conditions. Hydroponics adoption in agriculture further reduces the natural resources’ burden like water and land, since the water utilized in making the nutrient solution can be reused and recycled.
However, the industry is going through various challenges because of the increasing investments required in setting up a huge hydroponics plant. Furthermore, lack of initiatives by government, particularly in the emerging nations, is also limiting the sector growth. Industry players are predicted to experience several lucrative avenues in the global industry in the coming years, due to the expanding hydroponics applications in several residential and commercial buildings including grocery stores, restaurants, residential terraces, etc.
Major vendors in the industry are
AMHYDRO (U.S.): AeroFarms (U.S.); Emirates Hydroponics Farms (UAE); Freight Farms (U.S.); Heliospectra AB (Sweden); Signify Holding (the Netherlands); Argus Control Systems Limited (Canada); Green Sense Farms Holdings, Inc. (U.S.); Terra Tech Corp (U.S.), and LumiGrow (U.S.).
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The COVID-19 Impact:
Amidst the Covid-19 pandemic, many individuals showcased less interest towards outdoor food. With the key focus on food safety, the population worldwide have exhibited an inclination towards homemade/home cooking meals. This has caused many restaurants to shut down and put the food industry into jeopardy. During the pandemic, the hydroponic farming systems’ adoption rates are predicted to rise at an exponential rate.
Further key findings in the report:
- As per the UN reports, nearly 25% of higher yield is observed for the crops grown by using hydroponic systems, with its higher productivity. Moreover, due to controlled environment, the climatic changes’ effect can be minimized or balanced through hydroponics technique, thus, not hampering the overall yield of annual crop.
- HVAC or Heating, Ventilation & Air Conditioning plays a crucial role in the production of indoor growers, as the system is responsible for maintaining the optimum temperature, dehumidification, and cooling inside the facility. HVAC systems have become important for the hydroponic operation and in aeroponic farms and should be well-controlled.
- Asia Pacific accounted for the highest industry possession in the year 2018, due to the rising hydroponics’ adoption in Australia, China, South Korea, and other countries. The APAC market is foreseen to rise significantly during the forecast period because of the growing popularity of urban hydroponic farms.
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For the purpose of this report, Reports and Data has segmented the global dye sublimated apparel market on the basis of type, crop type, equipment, and region:
Type Outlook (Revenue, USD Billion, 2018 – 2028)
- Aggregate Systems
- Ebb & Flow Systems
- Drip Systems
- Wick Systems
- Liquid Systems
- Deep Water Culture
- Nutrient Film Technique
- Aeroponics
Equipment Outlook (Revenue, USD Billion, 2018 – 2028)
- HVAC
- LED Grow Lights
- Irrigation Systems
- Material Handling
- Control Systems
- Others
Input Outlook (Revenue, USD Billion, 2018 – 2028)
- Nutrients
- NPK
- Trace Minerals
- Others
- Grow Media
- Rockwool
- Perlite & Vermiculite
- Coco Fiber
- Others
Crop Type (Revenue, USD Billion, 2018 – 2028)
- Vegetables
- Fruits
- Flowers
- Others
Regional Outlook (Revenue, USD Billion, 2018 – 2028)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- The U.K.
- France
- Asia Pacific
- China
- India
- Japan
- Rest of World
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Table of Content:
Chapter 1. Introduction
1.1 Objectives Of The Study
1.2 Market Definition
1.3 Study Scope
Figure 1 Hydroponics Market Segmentation
1.3.1 Regional Segmentation
1.3.2 Periodization Considered
1.4 Currency Considered
Table 1 Usd Exchange Rate, 2018–2028
1.5 Stakeholders
Chapter 2. Research Methodology
2.1 Research Data
Figure 2 Hydroponics Market: Research Design
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Industry Insights
2.1.2.2 Breakdown Of Primaries
2.2 Market Size Estimation
2.2.1 Hydroponics Market Size Estimation, By Crop Type Method
2.2.2 Hydroponics Market Size Estimation, By Type Method
2.2.3 Hydroponics Market Size Estimation Notes
2.3 Data Triangulation
Figure 3 Data Triangulation Methodology
2.4 Assumptions For The Study
2.5 Limitations Of The Study
Chapter 3. Executive Summaries
Figure 4 Hydroponic Systems Market Size, By Type, 2020 Vs. 2028 Usd Billion)
Figure 5 Hydroponics Market Size, By Input, 2020 Vs. 2028 (Usd Billion)
Figure 6 Hydroponic Crops Market Size, By Crop Type, 2020 Vs. 2028 (Usd Billion)
Figure 7 Hydroponic Crop Type Market: Regional Snapshot (2019)
Chapter 4. Premium Insights
4.1 Opportunities In The Hydroponics Market, By Type
Figure 8 Increasing Adoption Of Greenhouse Horticulture Supports The Growth Of The Hydroponics Market
4.2 Hydroponic Systems Market, By Type
Figure 9 Liquid Hydroponic Systems Have Been Gaining Popularity For Vegetable Cultivation
4.3 Europe: Hydroponic Crops Market
Figure 10 Europe: The Netherlands To Be One Of The Major Consumers Across The Globe In 2020
4.4 Hydroponic Inputs Market, By Region
Figure 11 Europe Recorded The Largest Market Share In Hydroponics In 2020
4.5 Hydroponic Type Market, By Key Country
Figure 12 Asian Countries Are Projected To Witness High Growth During The Forecast Period
Chapter 5. Market Overviews
5.1 Introduction
5.2 Macroeconomic Indicators
5.2.1 Rising Rate Of Urbanization And Decline In Arable Land
Continue…
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