The global hydroponics market is valued at USD 12.1 billion in 2022 and is projected to reach USD 25.1 billion by 2027, growing at a CAGR of 15.6% from 2022 to 2027. 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.
The hydroponics industry focuses on growing plants without soil, using nutrient-rich water solutions to supply plants with essential minerals for growth. This method leverages various technologies and techniques to optimize plant cultivation, often in controlled environments such as greenhouses, indoor farms, and vertical farming systems.
The hydroponics industry is influenced by several key trends, reflecting changes in consumer preferences, technological advancements, and industry regulations. Here are some of the key trends shaping this market:
While high initial setup costs remain a challenge, the potential for high yields and profit margins is attracting investment and innovation in the hydroponics space.
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Related 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
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