Global Hydroponics Market is valued approximately USD 8.50 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.90 % over the forecast period 2020-2027. Hydroponics is one of the fastest-growing soil-less farming practice at a global level, using mineral nutrient solutions, in water without soil which is also referred as subset of hydroculture. Also, this approach involves growing healthy plants using a nutrient such as mineral rock water solution. The advent of vertical farming technology and recent advances in urban farming have propelled the growth of the market. As per the ClearViewIP in April 2019, UAE has a vested interest in alternative to traditional farming. As a desert country, they import 90% of their food. In 2018, the country plan for the world’s largest vertical farm to be built. Emirates Flight Catering and Crop One Holdings jointly incorporated around USD 40 million to enhance vertical farming project in Dubai. As a result, growing focus on customized farming approach and the cultivation of medicinal plants is anticipated to offer new growth opportunity for the industry. However, high capital investment for large-scale farms is hampering the growth of this market. Further, the key players are focusing on strategies such as product launch, investment, innovation and merger & acquisition to sustain themselves amidst fierce competition. In November 2019, Aerospace invested around USD 42 million for building the largest indoor farming facility at Cane Creek Center, a joint industrial park for City of Danville and Pittsylvania country.
The regional analysis of global Hydroponics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region owing to the substantial adoption of hydroponics in Australia, China, South Korea, and other such countries. The market in India and China is expected to escalate significantly over the forecast period owing to the emerging urban hydroponic farms. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Argus Control Systems Limited
Green Sense Farms Holdings Inc.
Terra Tech Group
Emirates Hydroponics Farms
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Aggregate Hydroponic System
Liquid Hydroponic System
By Crop Type:
Lettuce & Leafy vegetables
Other Crop types
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Hydroponics Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers