Hydroponics Market industry - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2021 - 2027)
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), - Global Forecast to 2027.
The agriculture sector is one of the oldest and the most established sector for any country’s economy. The idea of taking crops out of soil and growing in a completely soil-less medium is still surprising for the mass. Hydroponics is the fastest growing soil-less farming practice at a global level, wherein a tailored nutrient solution is used for the crop to attain its full growth with a superior quality in a sustainable manner. The technique introduced several advantages in terms of increased yield, higher returns on investment, and protected environment among others, attracting a larger share of producers as well as investors.
Village Farms International
James Foskett Farms
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The global Hydroponics Market industry has been segmented based on type, input, equipment, crop type, and region.
By type, the global Hydroponics Market industry has been divided into aggregate system and liquid hydroponics. The aggregate system segment is further classified into water culture system, EBB and flow system, drip system, and others. The liquid hydroponics segment is further segregated into nutrient film technique, aeroponics, and others.
The global market has also been segregated, based on input, into growth media, nutrients, and others. The growth media segment is further classified into clay, rockwool, coco coir, and others.
Based on equipment, the global market is segregated into, HVAC, irrigation system, LED growing lights, and others.
By crop type, the global market has been classified as vegetables, fruits, flowers, and others. The vegetable segment is further segmented into leafy, cucumber, tomato, and others.
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Europe is an established market for hydroponics, whereas North America, primarily the U.S. and APAC, primarily India hold immense potential to grow significantly during the forecast years. The European region lead the global hydroponics market in 2021 with an estimated crop value of USD 9.8 billion and will continue with this dominance growing over USD 13.38 Billion by 2020 at an estimated CAGR of 5.28% through 2021 to 2027.
The Americas will be growing at the highest CAGR of 9.1% from 2021 to 2027. Developing countries of Middle East and Africa will continue contributing smaller shares to the global hydroponic crop value through the forecast period.
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