PUBLISHER: Industry Experts | PRODUCT CODE: 1421837
PUBLISHER: Industry Experts | PRODUCT CODE: 1421837
Scarcity of arable land, depleting water resources and migration of people from rural to urban areas in search of adequate livelihood are having a huge adverse impact on agriculture the world over. Coupled with these is the fact that population growth is continuing unabated and forests are being cut down to accommodate this growing mass of people, resulting in climate change. Even with these detrimental factors playing a vital role in decreased agricultural output, the use of open-field agriculture is widely prevalent worldwide, with no consideration given to thousands of acres becoming useless for farming. As a consequence, agriculturists are now being forced to adopt novel techniques to maintain a steady growth and supply of food sources, among which Hydroponics is a major one.
Aggregate Systems account for a Hydroponics market share of about 52% in 2023, globally, while Liquid Systems closely follows with 48% in the same year. Liquid Systems is anticipated to grow by a CAGR of 12.6% during the period 2023-2029 to reach US$12.4 billion almost equal to that of Aggregate Systems. The worldwide market for Hydroponics is expected to surpass US$14 billion in 2024 with Europe accounting for a lion's share of about 39%.
The market for system types/sub-types of Hydroponics analyzed in this report includes:
Global market for input types of Hydroponics explored in this study includes:
The market for crop types of Hydroponics analyzed in this report includes:
The report reviews, analyzes and projects the global Hydroponics market for the period 2020-2029 in terms of market value in US$ and the compound annual growth rates (CAGRs) projected from 2023 through 2029.