Hydroponics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Hydroponics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global hydroponics market reached a value of US$ 10.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 20.9 Billion by 2027, exhibiting at a CAGR of 11.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Hydroponics is a state-of-the-art technique used for producing food in a controlled, soilless setting. It provides complete control of environmental factors, such as pH, light, air temperature, microorganisms, tilth, and nutrient content. It helps grow plants in a liquid nutrient solution comprising expanded clay, coir, perlite, vermiculite, brick shards, polystyrene packing peanuts, and wood fiber. At present, highly precise, data-driven, automated, and scalable hydroponics solutions are being developed worldwide. These solutions allow tomatoes, lettuce, cucumbers, peppers and ornamental crops like herbs, roses, freesia, and foliage plants to be produced in smaller spaces.

Hydroponics Market Trends:
Increasing food shortage on account of the rising global population, rapid urbanization, reducing arable land area, and climatic changes are among the key factors bolstering the market growth. Moreover, conventional commercial farming practices rely on pesticides, agrochemicals, mechanization, and mono-cropping, which deplete topsoil and aquifers and pollute water and air. This, along with the growing awareness among farmers about the environmental impacts of traditional soil-based farming, is contributing to the adoption of hydroponics around the world. In addition to this, hydroponic farming requires less water, eliminates soil-related diseases, and provides faster growth and high crop yields. As a result, governing agencies of numerous countries are promoting its use in areas with poor soil conditions like deserts and cold regions to overcome food shortage challenges. Apart from this, due to the inflating income levels and rising consumer inclination towards home-grown organic fruits and vegetables, home-based hydroponic gardening is gaining traction across the globe. In line with this, researchers are focusing on developing efficient indoor and outdoor hydroponic gardening methods, which are anticipated to influence the demand for hydroponics positively.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hydroponics market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, crop type and equipment.

Breakup by Type:

Aggregate Hydroponic System
Closed System
Open System
Liquid Hydroponic System

Breakup by Crop Type:

Tomato
Lettuce and Leafy Vegetables
Pepper
Cucumber
Microgreens
Others

Breakup by Equipment:

HVAC
LED Grow Light
Irrigation Systems
Material Handling
Control Systems
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being AeroFarms, Argus Control Systems Limited (Controlled Environments Limited), BrightFarms, General Hydroponics Inc., GreenTech Agro LLC, GrowLife Inc., Hydrodynamics International, Hydrofarm LLC, Logiqs B.V., LumiGrow Inc., Thanet Earth Limited and Village Farms International Inc. Key Questions Answered in This Report:
How has the global hydroponics market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global hydroponics market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the crop type?
What is the breakup of the market based on the equipment?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global hydroponics market and who are the key players?
What is the degree of competition in the industry?