Hydroponics Market

Global Hydroponics Market by Type (Aggregate Hydroponic System [Closed System and Open System] and Liquid Hydroponic System), Crop Type (Tomato, Lettuce and Leafy Vegetables, Pepper, Cucumber, and Other Crop Types), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: FB-1114
  • Author: Growth Market Reports
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  • No. Of Pages: 194
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The hydroponics market size is projected to register a significant CAGR of 8.5% during the forecast period, 2021–2028. The growth of the market is attributed to increased investments and incentives offered by governments across the world to encourage alternative farming methods and high yields from hydroponic farms.
 

Hydroponics Market Key Takeaways


Hydroponics is a form of horticulture and a subset of hydroculture that utilizes mineral fertilizer solutions in an aqueous solvent to grow plants (typically crops) without soil. Terrestrial plants grow with their roots exposed to the nutrient liquid, or they can have an inert medium supporting their roots. Tomatoes, peppers, cucumbers, strawberries, lettuces, cannabis, and model plants like Arabidopsis thaliana are all widely cultivated hydroponically on inert material. Hydroponics saves water in agriculture.

Many people have formed a sceptical attitude about outside food as a result of the Covid-19 pandemic. With health and food safety taking center stage, people all around the world are gravitating towards homemade meals. The food and lodging industries have been put in risk as a result of Covid-19. Following the disastrous breakout of the coronavirus pandemic, the adoption rate of urban hydroponic farming systems is expected to skyrocket throughout the world. During the early stages of the pandemic, the agriculture industry experienced difficulties. Mostly on farm, there were severe labor shortages, some farmers missed their harvesting window for seasonal crops, agricultural product prices were decreasing, and logistics were disrupted. Many countries realized that they were reliant on food imports and began focusing on local and internal production

Market Trends, Drivers, Restraints, and Opportunities

  • Governments worldwide are providing an incentive to encourage the use of alternative agricultural technology is the major factor propelling the market.
  • High capital investment for large-scale farms is expected to hinder the market growth.
  • Lack of skilled labor act as main challenge that can restrict the market expansion during the forecast period.
  • Research and development investment and technological advancement is projected to offer significant opportunities for the market players.

Scope of the Report

The report on the hydroponics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Hydroponics Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Types (Aggregate Hydroponic System (Closed System and Open System) and Liquid Hydroponic System), Crop Types (Tomato, Lettuce and Leafy Vegetables, Pepper, Cucumber, and Other Crop Types)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Village Farms, Kubo Group, Argus Control Systems Ltd., GreenTech Agro LLC, and Hortisystems UK Ltd.

 

Market Segment Insights

The aggregate system segment is projected to hold a major market share
On the basis of types, the hydroponics market is segregated into aggregate hydroponic system and liquid hydroponic system. The aggregate hydroponic system segment is further bifurcated into closed system and open system. The aggregate hydroponics segment is expected to represent a key share of the market during the forecast period owing to simplicity of setup and low cost. The plants are supported by an inert and solid media like rock wool, vermiculite, sand, sawdust, perlite, or coconut coir. Drip systems, ebb and flow systems, and wick systems are the most common technologies used in aggregation systems. The most frequent mode of an aggregate system is ebb and flow, because it is simple and inexpensive.

Due to the growing popularity of closed system cultivation among farmers, the liquid systems category is expected to expand at a high CAGR during the forecast period. The lettuce and other green vegetables are grown using deep water culture and nutrient film technique (NFT) systems. The need of a solid medium is eliminated in liquid systems, and the roots are immediately submerged in the nutrient solution, making the growth process easy. Furthermore, because nutrients are sent directly to a plant's roots, liquid systems speed up growth resulting in higher yields.

The tomatoes segment is expected to grow at a rapid pace
On the basis of crop type, the hydroponics market is divided into tomato, lettuce and leafy vegetables, pepper, cucumber, and other crop types. The tomatoes segment is expected to constitute a key share of the market during the forecast period owing to their high growth rate and the fact that they use less water than conventionally produced tomatoes. For tomato hydroponic production, the indoor farmers utilize rock wool, perlite, or coconut coir as growth materials.

Leafy greens like spinach, arugula, kale, and lettuce are becoming popular among hydroponic gardeners. Green and red leaf lettuce are the most popular hydroponically produced vegetables among indoor farmers, owing to their high raw consumption rates.
 

Hydroponics Market By Crop Types


The market in North America is expected to hold a major market share
On the basis of regions, the hydroponics market is classified into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to dominate the market during the forecast period. The market in North America accounted for about 35.78 percent of the hydroponics market in 2020. Hydroponics is a technique that is both environmentally beneficial and lucrative. Various governments and non-governmental groups have supported it because of its benefits in terms of food security. Due to enormous number of firms and the increasing use of new agricultural techniques especially in developed areas, the market in the region is expanding. Growing need for fresh fruits and vegetables in the region is fueling demand for many hydroponic businesses, which is helping to expand the industry. Furthermore, a growing trend of rooftop hydroponic gardens, particularly in urban areas like New York, is boosting the market.
 

Hydroponics Market By Regions

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Hydroponics Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Hydroponics Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Hydroponics Market - Supply Chain
  4.5. Global Hydroponics Market Forecast
     4.5.1. Hydroponics Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Hydroponics Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Hydroponics Market Absolute $ Opportunity
5. Global Hydroponics Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Hydroponics Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Hydroponics Demand Share Forecast, 2019-2026
6. North America Hydroponics Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Hydroponics Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Hydroponics Demand Share Forecast, 2019-2026
7. Latin America Hydroponics Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Hydroponics Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Hydroponics Demand Share Forecast, 2019-2026
8. Europe Hydroponics Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Hydroponics Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Hydroponics Demand Share Forecast, 2019-2026
9. Asia Pacific Hydroponics Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Hydroponics Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Hydroponics Demand Share Forecast, 2019-2026
10. Middle East & Africa Hydroponics Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Hydroponics Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Hydroponics Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Hydroponics Market: Market Share Analysis
  11.2. Hydroponics Distributors and Customers
  11.3. Hydroponics Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Village Farms
     11.4.2. Kubo Group
     11.4.3. Argus Control Systems Ltd.
     11.4.4. GreenTech Agro LLC
     11.4.5. Hortisystems UK Ltd

Segments Covered in the Report
The hydroponics market has been segmented on the basis of

Types

  • Aggregate Hydroponic System
    • Closed System
    • Open System
  • Liquid Hydroponic System

Crop types

  • Tomato
  • Lettuce and Leafy Vegetables
  • Pepper
  • Cucumber
  • Other Crop Types

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Village Farms
  • Kubo Group
  • Argus Control Systems Ltd.
  • GreenTech Agro LLC
  • Hortisystems UK Ltd


 

Key players competing in the hydroponics market include Village Farms, Kubo Group, Argus Control Systems Ltd., GreenTech Agro LLC, and Hortisystems UK Ltd.

Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.

 

Hydroponics Market By Key Players

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