According to a research report "Hydroponics Market by Type (Aggregate systems and Liquid systems), Equipment, Input (Nutrients and Grow media), Crop Type (Vegetables, Fruits, Flowers), Farming method (Indoor and Outdoor), Crop area, and Region - Global Forecast to 2027" published by MarketsandMarkets, the global hydroponic system market is valued at USD 12.1 billion in 2022 and is projected to reach USD 25.1 billion by 2027. The global hydroponics crop market is estimated to be valued at USD 37.7 billion in 2022 and is projected to reach USD 53.4 billion by 2027, recording a CAGR of 7.2%. The emergence of indoor farming led to the evolution of artificial lighting technology to assist plant growth. LED technology has proved to be more energy-efficient and long-lasting in general lighting applications. This is anticipated to drive the market.
Browse 338 market data Tables and 51 Figures spread through 289 Pages and in-depth TOC on "Hydroponics Market by Type (Aggregate systems and Liquid systems), Equipment, Input (Nutrients and Grow media), Crop Type (Vegetables, Fruits, Flowers), Farming method (Indoor and Outdoor), Crop area, and Region - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/hydroponic-market-94055021.html
The liquid systems segment accounted for the largest share in the global hydroponics market
Based on types, the liquid systems segment gained the largest market share in the hydroponics market. Liquid system consists of different hydroponic systems such as deep water culture, NFT, and aeroponics. NFT systems is becoming widely popular across the globe. Some key benefits of NFT include low water and nutrient consumption, avoiding the need to use a lot of growing media, easy-to-disinfect roots and setup, easy-to-see root quality and health, and recirculating minimal groundwater contamination.
The LED grow light segment gained the largest market share in the hydroponics market
Based on equipment, the LED grow light segment accounted for the largest market share in the hydroponics market. Grow lights of different types are available in the market, including high-pressure sodium lights (HPS), metal halide bulbs (MH), and fluorescent bulbs. The types of grow lights are based on the spectrum of light emitted by the equipment, which can stimulate and increase plant growth. The emergence of grow light technology in plant breeding has created market opportunities for the majority of indoor farming systems.
The nutrients segment dominated the hydroponics market during the review period
By input, the nutrients segment gained a major share in the hydroponics market. During the application of nutrients, nutrient concentration to suffice plant needs at every growth phase and EC strength at the growth stage must be monitored. Apart from NPK, trace elements also play a vital role in plant growth. Trace minerals are nutrient catalysts hailed as the most versatile and effective plant additives. They improve the uptake and effectiveness of all plant nutrients and provide ample quantities of auxins, gibberellins, and cytokinins to promote cell division, enlargement, differentiation of cells, and development of chloroplasts, as well as a delay in aging.
The vegetables segment acquired the largest market share in the hydroponics market
The vegetables segment gained the largest share in the hydroponics market based on crop type during the review period. Producing vegetables like tomatoes, leafy greens, cucumbers, among others, in hydroponic systems protects crops from harsh conditions such as cold, wind, pests, drought, etc. Growing vegetables in such systems also allow for creating the most suitable condition for crops owing to the controlling factors available, such as moisture, light, temperature, fertilization, humidity, and irrigation.
The European region accounted for the largest share of the global hydroponics market
Greenhouse agriculture in European region supported the growth of hydroponics in Europe. Many European players such as General Hydroponics and Hydroponic system international entered the market with hydroponic tools and technologies, along with growth mediums and nutrients to grow crops hydroponically; this encouraged the growers to use such technologies. Europe is followed by North America in terms of market share due to availability of required infrastructure to run a hydroponic farm and adoption of modern farming technique. Asia Pacific region is experiencing high growth in the market due to increasing demand for fresh food among urban population and government support in establishing hydroponic farms by means of subsidies.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441