Market Research Report
Hydroponics Market by Type (Aggregate Systems, Liquid Systems), Crop Type (Vegetables, Fruits, Flowers), Equipment (HVAC, Led Grow Light, Irrigation Systems, Material Handling, Control Systems), Input, and Region - Global Forecast to 2025
|Published by||MarketsandMarkets||Product code||352324|
|Published||Content info||171 Pages
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|Hydroponics Market by Type (Aggregate Systems, Liquid Systems), Crop Type (Vegetables, Fruits, Flowers), Equipment (HVAC, Led Grow Light, Irrigation Systems, Material Handling, Control Systems), Input, and Region - Global Forecast to 2025|
|Published: May 9, 2019||Content info: 171 Pages||
"The emergence of aquaponics and aeroponics has provided new growth opportunities for hydroponics at a global level"
The hydroponics market is estimated at USD 8.1 billion in 2019 and projected to grow at a CAGR of 12.1% to reach USD 16.0 billion by 2025. The growth of the hydroponics market is driven by higher yields compared to conventional agriculture methods in limited land and other resources, which has had a profound impact in demand for hydroponics. Hydroponic systems are a combination of multiple technologies and hence encompass a specific set of system models.
On the basis of type, the hydroponics market is classified into liquid systems and aggregate systems. Liquid hydroponic systems can be effective for fast growth and large yield since plants have direct access to oxygen and food in the form of functional mineral compound. These systems are most preferred in the developed countries for crop production and have huge growth potential in the future. Moreover, systems such as DWC and NFT have been studied for application in hybrid farming, combining aquaculture with hydroponics. Being compact in structure, these systems can be easily stacked vertically to support a vertical farming system.
Based on the crop type, the vegetables segment is estimated to hold the dominant share in the hydroponics market. Vegetables that can be grown hydroponically include tomatoes, leafy greens, cucumbers, and peppers, which include microgreens and baby greens. Considering the use of the proper system, a wide variety of plants can be grown hydroponically. Vegetables that are grown using hydroponics are known to grow faster and stronger compared to traditional farming, as the right nutrients are delivered directly to the plants' roots. The requirements for growing vegetables indoors in a hydroponic unit can be met with the help of grow lights, air ventilation, and recirculation systems, along with the right nutrients for water. Hydroponically grown plants are known to retain their full nutritive value and are equal or in certain cases superior to conventionally-grown vegetables.
Based on input, the nutrients segment is projected to hold the largest market share between 2019 and 2025. Nutrients are one of the basics of hydroponic systems, as they cater to the nutritional requirement of the plant. There are two major types of nutrients used in hydroponics-macronutrients, and micronutrients. Hydroponics help growers to take complete control over the implementation of fertilizers, in terms of type and concentration, which makes it a favored input in hydroponics. During the application of nutrients, nutrient concentration to suffice plant needs at every growth phase and EC strength at the stage of growth must be monitored.
The Asia Pacific market is projected to be the fastest-growing market for the period considered for this study due to the strong potential for growth, given the increasing population, which results in the demand for food, especially in countries such of China and India. The increasing instances of droughts, floods, and other natural disasters in countries such as India, China, and Japan have raised concerns over food security. This prompted the growth of indoor hydroponic agriculture in the country, whose influence is now expanding across the cities and the countryside. China is projected to be the fastest-growing market for hydroponic farming in the region and has displayed notable growth potential. The increasing government initiatives and decreasing pockets of arable land in the country are expected to favor the growth of hydroponic farming in the region over the next five years.
Others include: sales managers, marketing managers, and product managers.
*RoW includes South Africa, UAE, Brazil, and Israel.
The report segments the hydroponics market on the basis of type, equipment, input, crop type, and region. In terms of insights, this report has focused on various levels of analyses-the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the global hydroponics, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
*Details on Business overview, Products offered, Recent Developments, SWOT analysis, MNM view might not be captured in case of unlisted companies