Hydroponics Market is estimated to be US$ 28.55 billion by 2030 with a CAGR of 11.7% during the forecast period
Hydroponics Market accounted for US$ 9.5 billion in 2020 and is estimated to be US$ 28.55 billion by 2030 and is anticipated to register a CAGR of 11.7%. Hydroponics is a subset of hydroculture, which is a way of growing plants in water without soil using mineral nutrient solutions. In a hydroponic system, nutrients are processed with water before being delivered to the root system. Hydroponics is a method of growing plants in a controlled environment using an inert medium such as rock wool, perlite, peat moss, vermiculite, clay pellets, and other materials. Growing crops in a hydroponics system has a number of advantages, including a faster rate of plant growth. Plants cultivated under hydroponics are known to develop faster and stronger than those grown in standard farming methods.
The report "Global Hydroponics Market, By Product Type (Aggregate Hydroponic System (Closed Systems and Open Systems) and Liquid Hydroponic Systems), By Crop Type (Tomato, Cucumber, Pepper, Lettuce & Leafy Vegetables and others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
· In August 2021, The indoor growing sector is beginning to gain traction. Hydroponic farms (which grow produce without soil in vast warehouses) and traditional greenhouses have begun to play an increasingly important role in our food supply chain, particularly for leafy greens like lettuce, spinach, and arugula.
Analyst View:
The growing awareness of the health benefits of hydroponics is a fundamental factor driving the market's growth. Furthermore, the worldwide hydroponics market is rising due to an increase in the consumption of exotic salad vegetables and a growing focus on food security. Furthermore, shifting consumer preferences for hydroponics such as profit farming, rising disposable income, and expanding consumer purchasing power are some of the reasons driving the global hydroponics market's rise in the near future. Furthermore, rising urbanisation, changing lifestyles, and changes in consumer taste and preferences for food and beverages all contribute to the worldwide hydroponics market's growth.
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Key Market Insights from the report:
Global Hydroponics Market accounted for US$ 9.5 billion in 2020 and is estimated to be US$ 28.55 billion by 2030 and is anticipated to register a CAGR of 11.7%. Global Hydroponics is segmented into product type, crop type and region.
· Based on Product Type, the Global Hydroponics Market is segmented into Aggregate Hydroponic System (Closed Systems and Open Systems) and Liquid Hydroponic Systems.
· Based on Crop Type, the Global Hydroponics Market is segmented into Tomato, Cucumber, Pepper, Lettuce & Leafy Vegetables and others.
· By Region, the Global Hydroponics Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Hydroponics Market:
The key players in the global Hydroponics Market includes Bright Farms Inc., Argus Control Systems Ltd., Horti systems UK Ltd., Kubo Group, Green Tech Agro LLC, American Hydroponics, Inc., Hydro Wholesale Inc, Hydrodynamics International, Inc., AMCO Produce Inc. and General Hydroponics, Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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