The global hydroponics market size was estimated to be US$ 2 billion in 2020 and is expected to reach US$ 27 billion by 2031 at a CAGR of 26.9%. Hydroponics is a climate conformable and beneficial innovation which fascinates the way toward growing plants by utilizing mineral supplement arrangements in sand, rock, or fluid without utilizing soil.
It has been embraced by the different governments and non-legislative associations for its benefit in consumable food safety. Hydroponics is a climate friendly and productive innovation. It has been endorsed by different governments and non-administrative associations for its advantages concerning food safety. The requirement for food supply in virtue of the exponential rise in populace increment by 2050 has catalyzed the development of the hydroponics market.
The demand for exotic food products has been continually evolving at a higher rate in virtue of the altered buying preference of customers. The expanding preference to hydroponics by various domains and industries as a production strategy is expected to drive the market improvement during the forecast period of 2023-2032.
Also, the improvement of inventive aqua-farming technique just as the amplifying the utilization extent of aquaculture system in cafés and supermarkets post Coronavirus outbreak since 2020, is anticipated to speed up different expansion possibilities that will intensify the development of the hydroponics market during the forecast period.
Be that as it may, the excessive costs of hydroponically germinated produce alongside spread of waterborne illnesses and discrete algae growth in enclosed system can possibly challenge the development of the hydroponics market. However, the quick development in testing latest techniques across the world are relied upon to drive the market for hydroponics during the forecast time period of 2023-2032.
Global Hydroponics Market Value Share Analysis, by Geography (2022)
The report titled “Global Hydroponics Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032”, wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the Global Hydroponics Market.
Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global Hydroponics market is segmented based on Type, Equipment, Crop type, Input, and region. Based on type, the Hydroponics market is segmented into aggregate systems (EBB, flow system, drip system, wick system), liquid hydroponic systems (deep water culture systems, nutrient film techniques (NFT), aeroponics), and others. Based on Equipment, the Hydroponics market is segmented into HVAC, LED grow light, control system, irrigation system, material handling and others. Based on crop type, the Hydroponics market is segmented into vegetables (leafy greens, Tomato, peppers, cucumber, and others), fruits, flowers, and others. Based on Input type, the Hydroponics market is segmented into nutrients (NPK, trace minerals and others), grow media (clay, rockwool, coco coir and others), and others.
Based on geography, the Global Hydroponics Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada, and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Italy, France, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Australia, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on Global Hydroponics Market. Further, market share of prominent companies in the Global Hydroponics Market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the Hydroponics companies. The Global Hydroponics Market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution.
Product portfolio would focus on all the products under the Hydroponics business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the Global Hydroponics Market.
The key players of the Global Hydroponics Market are Thanet Earth, PEGASUS AGRITECH, Growlife Inc., Koninklijke Philips NV, Hydrodynamics International, General Hydroponics, Circle A Farms, PONIC GREENS, Terra Tech Corp, Valoya, Village Farms, Hydrofarm LLC, LOGIQS B.V., Viscon Hydroponics, ROCKWOOL International A/S, BrightFarms, AMHYDRO, GreenTech Agro LLC, Argus Control Systems Limited and Hydrilla, and others.
Global Hydroponics Market Key Segments:
Based on Type
Based on Equipment Type
Based on crop Type
Based on Input Type
Based on Grow media Type
By Region
The global hydroponics market was worth US$ 2billion in 2020.
The global market for hydroponics will most likely expand at over 26.2% CAGR through 2032.
Some key players operating in the hydroponics market include Thanet Earth, PEGASUS AGRITECH, Growlife Inc., Koninklijke Philips NV, Hydrodynamics International, General Hydroponics, Circle A Farms, PONIC GREENS, Terra Tech Corp.
Based on grow media type, the hydroponics market is segmented into Clay, Rockwool and Coco coir.
Copyright © 2024 Same Page Management Consulting Pvt. Ltd. (insightSLICE) | All Rights Reserved