Global Hydroponics Market, By Type (Aggregate Systems, Liquid Hydroponic Systems), Equipment (HVAC, LED Grow Light, Control System, Irrigation System, Material Handling, Others), Crop Type (Vegetables, Fruits, Flowers, Others), Input (Nutrients, Grow Media), Country (U.S., Canada, Mexico, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Chile, Rest of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Hydroponics Market
Hydroponics market is expected to expand at a compound annual growth rate of 5.50% over the forecast period of 2021 to 2028. The rapid advancements in testing technologies are the factor for the hydroponics market in the forecast period of 2021 to 2028.
Hydroponics is an environment friendly and advantageous technology which engrosses the process of growing plants by using mineral nutrient solutions in sand, gravel or liquid without using soil. It has been endorsed by the various governments and non-governmental organizations for its profit in food security.
The hydroponics market is likely to gain growth, due to the advanced yield when compared to conventional agriculture practices are emphasized even more after the outbreak of Covid-19 pandemic. Also the rapid advancements in testing technologies across the world are expected to drive the market for hydroponics over the forecast period of 2021 to 2028. As hydroponic systems help conserve natural resources which is escalating their demand the market, therefore helping the hydroponics market to grow.
Moreover factors such execution of stringent food safety regulations as well as the controlled environment farming helps remove the effect of external factors on crop growth which are the key determinants fueling the growth of the target market. However, high capital investment for large-scale farms and dearth of government policy and tax breaks in developing countries will curb the growth of the hydroponics market in the above mentioned forecast period. Likewise, significant growth in organic food demand will also enhance the hydroponics market growth trends over the forecast period. Also the hydroponics is gaining footing across the world because of the low installation cost and ease of operation of these systems. Furthermore, the growing awareness amongst consumers regarding the effects of pesticides and artificial ripening agents over their health is also projected to thrust the use of hydroponics in the forecast period.
In addition, the development of innovative hydroponic technologies as well as the growing application scope of hydroponic systems in restaurants and grocery stores since the Covid-19 pandemic will accelerate various growth opportunities that will enhance the growth of the hydroponics market in the forecast period of 2021 to 2028. But, the high prices of hydroponically grown produce along with spread of waterborne diseases and algae in closed systems have the potential to challenge the growth of the hydroponics market.
This hydroponics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on hydroponics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Hydroponics Market Scope and Market Size
Hydroponics market is segmented on the basis of type, equipment, crop type and input. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the hydroponics market is segmented into aggregate systems and liquid hydroponic systems. Aggregate systems have further been segmented into EBB and flow system, drip system and wick system. Liquid systems have further been segmented into deep water culture systems, nutrient film techniques (NFT) and aeroponics.
- Based on equipment, the hydroponics market is segmented into HVAC, LED grow light, control system, irrigation system, material handling and others.
- On the basis crop type, the hydroponics market is segmented into vegetables, fruits, flowers and others. Vegetables have further been segmented into leafy greens, peppers, cucumber, tomato and others.
- The hydroponics market is also segmented on the basis of input is segmented into nutrients and grow media. Nutrients have further been segmented into NPK, trace minerals and others. Grow media is further segmented into clay, rockwool, coco coir and others.
Hydroponics Market Country Level Analysis
Hydroponics market is analyses and market size, volume information is provided by country, type, equipment, crop type and input as referenced above.
The countries covered in the hydroponics market report are U.S., Canada, Mexico in North America, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific(APAC) in Asia-Pacific (APAC), Brazil, Argentina, Chile, Rest of South America as a part of South America, U.A.E, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
Asia-Pacific leads the hydroponics market because of the high adoption of hydroponics in South Korea, China, Australia and other such countries within the region. Europe is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 owing to the increasing adoption of hydroponics owing to rapid industrialization and scarcity of land in this particular region.
The country section of the hydroponics market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Hydroponics Market Share Analysis
Hydroponics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to hydroponics market.
The major players covered in the hydroponics report are Thanet Earth, PEGASUS AGRITECH, Growlife Inc., Koninklijke Philips NV, Hydrodynamics International, General Hydroponics, Circle A Farms, PONIC GREENS, Terra Tech Corp, Valoya, Village Farms, Hydrofarm LLC, LOGIQS B.V., Viscon Hydroponics, ROCKWOOL International A/S, BrightFarms, AMHYDRO, GreenTech Agro LLC, Argus Control Systems Limited and Hydrilla among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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