Hydroponics Market Is Projected To Reach $17.9 Billion By 2026

(MENAFN- market Press Release) May 18, 2022 8:45 am - The pressure on the Agriculture industry to meet the growing demand for grains and food leads to the search for high-yielding farming techniques, such as precision farming and urban farming.

The report 'Hydroponics Market by Type (Aggregate Systems, Liquid Systems), Crop Type (Vegetables, Fruits, Flowers), Equipment (HVAC, LED Grow Lights, Irrigation Systems, Material Handling Equipment, Control Systems), Input Type, and Region - Global Forecast to 2026', size was estimated to be valued at USD 9.44 billion in 2020 and is projected to reach USD 17.93 billion by 2026, recording a CAGR of 11.3% during the forecast period in terms of value. The market is driven by innovative method of growing plants without the use of soil through mineral nutrient solutions in a water solvent. In this process the water utilization is far less than the conventional farming. In recent few years, with the increasing freshwater scarcity across the globe is promoting the hydroponic farming across the globe. According to the European Union, the governments around the globe are focusing on significantly decreasing the amount of water used in irrigation while increasing the yield of the crop. These supportive initiatives are promoting the hydroponics market over the forecast period.

Download PDF brochure: liquid systems segment is projected to grow at the highest CAGR in the global hydroponics market.

Based on type, liquid system segment is forecasted to grow at the highest CAGR from 2020 to 2026. Liquid hydroponic systems are quite effective system for the rapid growth and large yield as crop get direct access to oxygen and required nutrients in the form of functional mineral compounds. These systems are strong popularity among developed countries across the globe.

The HVAC hydroponic equipment was the largest equipment segment in the global hydroponics market.

Heating, Ventilation & Air Conditioning or HVAC is among the most popular hydroponics equipment for the indoor growers, as the system is capable of handling wide range of operations at a same time including cooling, dehumidification, and keeping the best temperature inside the facility. In addition, this HVAC systems plays a crucial role in the operations of hydroponic and aeroponic farms. Furthermore, this system is designed to nullify the external weather conditions and provide idyllic environment for year-round growth and cultivation of different types of crops.

Nutrient segment is predicted to witness to be the fastest-growing input type in the global hydroponics market.

The hydroponics market was dominated by the nutrients segment owing to the high adoption of liquid systems in the global market for vegetable cultivation. Moreover, nutrients input type is the most crucial part of all types of hydroponic systems.

Vegetable was the largest crop type segment in 2019 and anticipated to maintain the dominance in the hydroponics market over the forecast period.

Hydroponics helps to grow almost all types of the vegetables including tomatoes, squash, broccoli, beans, and even leafy greens such as spinach, arugula, microgreens, and lettuce. Vegetables are the most grown crop type in hydroponic systems around the globe it helps to grow all kinds of vegetables round the year without being concerned about the changing weather, temperature, or other conditions.

Make an Inquiry: Pacific is anticipated to witness highest growth rate across the globe over the forecast period

Asia Pacific is the home for more than half of the global population in the world. The shortage of farming land, poor land management, increasing infrastructural projects in farmlands, and scarcity of fresh water is significantly promoting the demand for hydroponics in the region in recent few years. Moreover, increasing population poses a major challenge to food accessibility and security which is promoting the hydroponics in the region.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Signify Holdings (Netherlands), Heliospectra AB (Sweden), Scotts Miracle Gro (US), Argus Control Systems (Canada), Logiqs B.V. (Netherlands), Lumigrow (US), Hydroponic System International (Spain), and Hydrodynamics International (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the 'Growth Engagement Model – GEM'. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write 'Attack, avoid and defend' strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, 'Knowledgestore' connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441

MENAFN19052022003520003262ID1104238630