Mar 24, 2020: The global Hydroponics market size is estimated to reach USD 5.68 billion by 2025, exhibiting a CAGR of 22.52% from 2019 to 2025, according to the new study conducted by Grand View Research, Inc. The adoption of smart farming technologies, such as vertical farming, which has helped the evolution of hydroponics, is expected to spur the market growth. Continuous improvements in hydroponics technologies and introduction of innovative, state-of-the-art technologies, including environmental and temperature sensing, remote growth monitoring, and automatic nutrient reading, is likely to fuel the demand.
Based on type, the hydroponics market is segregated into aggregate systems and liquid systems. The aggregate systems segment is projected to continue holding the largest market share over the forecast period. The liquid systems segment is expected to expand at a high CAGR over the forecast period. Aggregate hydroponics farming encompassed multiple technologies, namely, drip, wick, and ebb and flow. Herein, the plants are grown with the presence of a medium such as rock wool, perlite, and others. It is essential for the farmers to choose the right kind of media for certain crops, as they vary in terms of pH and thickness, which may hinder the smooth growth of roots. However, the liquid systems eliminate the use of such media and provide the nutrients directly to the roots, reducing the time required for yield. Hence, the adoption of liquid systems, such as deep water culture and Nutrient Film Technique (NFT) is expected to witness significant growth over the forecast period.
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The primary crops cultivated through the hydroponics method are tomatoes, lettuce, cucumber, and herbs. Majority of indoor farmers use hydroponic systems to grow tomatoes. As a result, the tomatoes segment dominates the entire market in 2018 and is estimated to continue its dominance over the forecast period. Europe held the largest share of hydroponically grown tomatoes market in 2018 owing to the high cultivation rate in Netherlands and Italy. Rising demand for organically grown, pesticide-free, and highly nutritious vegetable is expected to drive the adoption of hydroponics for the cultivation of lettuce and other leafy vegetable along with other indoor farming techniques. Among all the leafy vegetables, green leaf lettuce is increasingly gaining popularity among the growers owing to its high consumption rate and worldwide demand. However, owing to the changing and favorable regulations pertaining to the growth of legalized marijuana, the cannabis farmers across the globe are increasingly adopting the hydroponic farming method.
Asia Pacific held the largest market share in 2018, as countries such as China, South Korea, and Japan are finding lucrative opportunities in hydroponics farming to cater to the rising food demand. However, Europe is expected to register the fastest CAGR over the forecast period owing to the favorable government scenario regarding the development and adoption of alternative farming technologies.
AeroFarms (U.S.); AMHYDRO (U.S.); Argus Control Systems Limited (Canada); Emirates Hydroponics Farms (UAE); Freight Farms (U.S.); Green Sense Farms Holdings, Inc. (U.S.); Heliospectra AB (Sweden); LumiGrow (U.S.); Signify Holding (the Netherlands); and Terra Tech Corp (U.S.) are some of the eminent providers and vendors of hydroponic equipment and solutions. These companies, along with other local or global market players, continually emphasize geographic expansion and product development. They have realized the lucrative opportunities in the urban regions of developed countries, such as U.S., China, U.K., and Japan.
Further key findings from the report suggest:
• Middle East, South America, and Asia Pacific are anticipated to witness lukewarm rise in terms of adoption of hydroponics, on account of lack of government incentives to set up the infrastructure
• Increasing demand for cannabis for medical and recreational uses is expected to boost the adoption among indoor farmers from Canada, Georgia, South Africa, and other such countries
• NFT in the liquid hydroponic systems is one of the highly adopted methods used by indoor farmers. However, state-of-the-art NFT technique is gaining more popularity amongst the growers
• Asia Pacific held the largest market share in 2018 owing to the substantial demand from countries, such as South Korea, China, India, and Hong Kong
• European regional segment is likely to emerge as the prominent segment, holding the largest market share by 2025. The countries such as the Netherlands, Turkey, and Spain witness a high adoption rate of hydroponics
• Mexico is projected to portray lucrative opportunities in near future, owing to the presence of market players, such as Hydroponic Systems, Cultura H, and General Hydroponics. Also, the drylands spread over 100 million hectares in the country restrict the agricultural expansion, driving the adoption of hydroponics and other vertical farming technologies
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Table of Contents
Chapter 1 Methodology and Scope
1.1 Market Segmentation
1.2 Report Scope and Assumptions
1.3 Research Methodology
1.4 List to Data Sources
Chapter 2 Executive Summary
2.2 Hydroponics Market – Industry Outlook
2.3 Hydroponics Market – Segmental Outlook
Chapter 3 Market Variables, Trends & Scope
3.1 Hydroponics Market Dynamics
3.1.1 Market Driver Analysis
22.214.171.124 Increasing investments and incentives by governments to encourage alternate farming technologies
126.96.36.199 Growing demand for nutritionally superior food that eliminates the use of pesticides and artificial nutritional agents
188.8.131.52 Higher yields from hydroponic farms with a lower requirement of resources and land area
3.1.2 Market restraint analysis
184.108.40.206 Slow adoption in the developing economies owing to the lack of essential resources for setting up large farms
3.1.3 Market Opportunity analysis
220.127.116.11 Increasing use of hydroponics for cannabis production
3.2 Penetration and Growth Prospect Mapping
3.3 Hydroponics Market – Key Company Analysis, 2018
3.4 Hydroponics – Value Chain Analysis
3.5 Hydroponics Market Analysis – Porter’s
3.6 Hydroponics Market Analysis – PEST
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