Hydroponics Market

Hydroponics Market worth $17.9 billion by 2026

The report "Hydroponics Market by Type (Aggregate Systems, Liquid Systems), Crop Type (Vegetables, Fruits, Flowers), Equipment (HVAC, LED Grow Lights, Irrigation Systems, Material Handling Equipment, Control Systems), Input Type, and Region - Global Forecast to 2026", size was estimated to be valued at USD 9.44 billion in 2020 and is projected to reach USD 17.93 billion by 2026, recording a CAGR of 11.3% during the forecast period in terms of value. The market is driven by innovative method of growing plants without the use of soil through mineral nutrient solutions in a water solvent. In this process the water utilization is far less than the conventional farming. In recent few years, with the increasing freshwater scarcity across the globe is promoting the hydroponic farming across the globe. According to the European Union, the governments around the globe are focusing on significantly decreasing the amount of water used in irrigation while increasing the yield of the crop. These supportive initiatives are promoting the hydroponics market over the forecast period.

Browse 161 market data Tables and 63 Figures spread through 230 Pages and in-depth TOC on "Hydroponics Market by Type (Aggregate Systems, Liquid Systems), Crop Type (Vegetables, Fruits, Flowers), Equipment (HVAC, LED Grow Lights, Irrigation Systems, Material Handling Equipment, Control Systems), Input Type, and Region - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/hydroponic-market-94055021.html

The liquid systems segment is projected to grow at the highest CAGR in the global hydroponics market.

Based on type, liquid system segment is forecasted to grow at the highest CAGR from 2020 to 2026. Liquid hydroponic systems are quite effective system for the rapid growth and large yield as crop get direct access to oxygen and required nutrients in the form of functional mineral compounds. These systems are strong popularity among developed countries across the globe.

The HVAC hydroponic equipment was the largest equipment segment in the global hydroponics market.

Heating, Ventilation & Air Conditioning or HVAC is among the most popular hydroponics equipment for the indoor growers, as the system is capable of handling wide range of operations at a same time including cooling, dehumidification, and keeping the best temperature inside the facility. In addition, this HVAC systems plays a crucial role in the operations of hydroponic and aeroponic farms. Furthermore, this system is designed to nullify the external weather conditions and provide idyllic environment for year-round growth and cultivation of different types of crops.

Nutrient segment is predicted to witness to be the fastest-growing input type in the global hydroponics market.

The hydroponics market was dominated by the nutrients segment owing to the high adoption of liquid systems in the global market for vegetable cultivation. Moreover, nutrients input type is the most crucial part of all types of hydroponic systems.

Vegetable was the largest crop type segment in 2019 and anticipated to maintain the dominance in the hydroponics market over the forecast period.

Hydroponics helps to grow almost all types of the vegetables including tomatoes, squash, broccoli, beans, and even leafy greens such as spinach, arugula, microgreens, and lettuce. Vegetables are the most grown crop type in hydroponic systems around the globe it helps to grow all kinds of vegetables round the year without being concerned about the changing weather, temperature, or other conditions.

Asia Pacific is anticipated to witness highest growth rate across the globe over the forecast period

Asia Pacific is the home for more than half of the global population in the world. The shortage of farming land, poor land management, increasing infrastructural projects in farmlands, and scarcity of fresh water is significantly promoting the demand for hydroponics in the region in recent few years. Moreover, increasing population poses a major challenge to food accessibility and security which is promoting the hydroponics in the region.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Signify Holdings (Netherlands), Heliospectra AB (Sweden), Scotts Miracle Gro (US), Argus Control Systems (Canada), Logiqs B.V. (Netherlands), Lumigrow (US), Hydroponic System International (Spain), and Hydrodynamics International (US).

Don’t miss out on business opportunities in Hydroponics Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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Report Code
AGI 4075
PR Published ON
1/25/2021
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