Hydroponics Market Insights
The Global Hydroponics Market is estimated to be worth USD 8.9 Billion by 2030, registering a 13.45% CAGR during the forecast period (2022- 2030).
Hydroponics is a type of horticulture and a subset of hydro-culture that involves growing plants, usually crops or medicinal plants, without soil, by using water-based mineral nutrient solutions in hydrated solvents. Terrestrial or aquatic plants may grow with their roots exposed to the nourishing liquid or in extension; the roots may be mechanically supported by an inert medium similar to perlite, gravel or any other substrates.
The increasing pressure on the agriculture industry to meet the rearing demand for grains and food in the Hydroponics Market scenario leads to the divergent search for high-yielding farming techniques, similar to precision farming and urban farming. Hydroponics is, therefore, being seemed upon as a potential solution for solving the issues followed by the growing concern about food security in the coming years, as a part of the worldwide forecast period.
Also, owing to the thrusting need for controlled environmental conditions, the effect of climatic changes can probably be balanced with the help of these systems, thereby not affecting the yearly crop production that the farmers and other associations anticipate. The CEH techniques directly affect the crop harvest cycle. Since climatic changes show a minimum effect on similar functional systems, the crops can be produced all year round, thereby again boosting production.
Key Players
The global Hydroponics key Market players are Argus Control Systems (Canada), Gobo (US), Heliospectra AB (Sweden), Logics B.V (Netherlands), Signify Holdings(Netherlands), American Hydroponics (US)., Scott’s Miracle Grow (US), Hydrodynamics International (Spain), American Hydroponics (US), and LumiGrow (US)
Market Segmentation
The global hydroponics market is segmented into the following types;
By type
- Aggregate Systems
- Ebb Flow Systems
- Drip Systems
- Wick Systems
By Liquid Systems
- Deep Water Culture
- Nutrient Film Technique
- Geoponics
By equipment:
- LED Grow Lights
- Irrigation Systems
- Material Handling
- Control Systems
- Others
By input Nutrients
- NPK
- Trace Minerals
- Others
- Grow Media
By Rockwool
- Perlite Vermiculite
- Coco Fibber
- Others
By crop type Vegetables
- Fruits
- Flowers
- Others
Regional Analysis
The global hydroponics market is divided into five regions: North America, Asia Pacific, Europe, Latin America, and the Middle East Africa.
The European region and hydroponics market are likely to emerge as the dominantly cultivating region in the international market. In the Netherlands, the growers who are mostly farmers, mainly cultivate their plants in simple tunnel-like greenhouses without concerning themselves with the use of climate control technologies. There has been a sound degree of enhancement in greenhouse farming that has endorsed the growth of hydroponics in Europe.
The North American hydroponics market consists of the US and Canadian markets which are expanding the population and so have been an elevation in the demand for food and other grains. This will herd the market toward growth during the period.
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