Global $16 Bn Hydroponics Market 2019-2025 by Type, Crop Type, Equipment, Input, and Region - Emergence of Aquaponics and Aeroponics has Provided New Growth Opportunities
DUBLIN, May 23, 2019 /PRNewswire/ -- The "Hydroponics Market by Type (Aggregate Systems, Liquid Systems), Crop Type (Vegetables, Fruits, Flowers), Equipment (HVAC, Led Grow Light, Irrigation Systems, Material Handling, Control Systems), Input, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The hydroponics market is estimated at USD 8.1 billion in 2019 and projected to grow at a CAGR of 12.1% to reach USD 16.0 billion by 2025.
The emergence of aquaponics and aeroponics has provided new growth opportunities for hydroponics at a global level
The growth of the hydroponics market is driven by higher yields compared to conventional agriculture methods in limited land and other resources, which has had a profound impact in demand for hydroponics. Hydroponic systems are a combination of multiple technologies and hence encompass a specific set of system models.
The liquid system segment, by type, dominated the market with the largest share in 2019.
On the basis of type, the hydroponics market is classified into liquid systems and aggregate systems. Liquid hydroponic systems can be effective for fast growth and large yield since plants have direct access to oxygen and food in the form of a functional mineral compound. These systems are most preferred in the developed countries for crop production and have huge growth potential in the future. Moreover, systems such as DWC and NFT have been studied for application in hybrid farming, combining aquaculture with hydroponics. Being compact in structure, these systems can be easily stacked vertically to support a vertical farming system.
The vegetable segment is estimated to account for the largest share in 2019.
Based on the crop type, the vegetable segment is estimated to hold the dominant share in the hydroponics market. Vegetables that can be grown hydroponically include tomatoes, leafy greens, cucumbers, and peppers, which include microgreens and baby greens. Considering the use of the proper system, a wide variety of plants can be grown hydroponically. Vegetables that are grown using hydroponics are known to grow faster and stronger compared to traditional farming, as the right nutrients are delivered directly to the plants' roots. The requirements for growing vegetables indoors in a hydroponic unit can be met with the help of grow lights, air ventilation, and recirculation systems, along with the right nutrients for water. Hydroponically grown plants are known to retain their full nutritive value and are equal or in certain cases superior to conventionally-grown vegetables.
The nutrients segment, by input, holds the dominant market share in the hydroponics market.
Based on input, the nutrients segment is projected to hold the largest market share between 2019 and 2025. Nutrients are one of the basics of hydroponic systems, as they cater to the nutritional requirement of the plant. There are two major types of nutrients used in hydroponicsmacronutrients, and micronutrients. Hydroponics help growers to take complete control over the implementation of fertilizers, in terms of type and concentration, which makes it a favored input in hydroponics. During the application of nutrients, nutrient concentration to suffice plant needs at every growth phase and EC strength at the stage of growth must be monitored.
High growth is projected in the Asia Pacific hydroponics market
The Asia Pacific market is projected to be the fastest-growing market for the period considered for this study due to the strong potential for growth, given the increasing population, which results in the demand for food, especially in countries such of China and India. The increasing instances of droughts, floods, and other natural disasters in countries such as India, China, and Japan have raised concerns over food security.
This prompted the growth of indoor hydroponic agriculture in the country, whose influence is now expanding across the cities and the countryside. China is projected to be the fastest-growing market for hydroponic farming in the region and has displayed notable growth potential. The increasing government initiatives and decreasing pockets of arable land in the country are expected to favor the growth of hydroponic farming in the region over the next five years.
Market Dynamics
Drivers
- Higher Yield As Compared To Conventional Agriculture Practices
- Controlled Environment Farming Helps Eliminate The Effect Of External Factors On Crop Growth
- Hydroponic Systems Help Conserve Natural Resources
- Improved Yield And Higher Produce With Limited Land Resources
- Lower Water Utilization As Against Conventional Farming Methods
Restraints
- High Capital Investment For Large-Scale Farms
- Lack Of Government Policy And Tax Breaks In Developing Countries
Opportunities
- Development Of Innovative Hydroponic Technologies
- Entrance Of New Players In The Market
- Application Of Hydroponics Systems In Restaurants And Grocery Stores
- Significant Growth In Organic Food Demand
- Increased Demand For Cannabis Is Projected To Fuel The Demand For Hydroponics
Challenges
- High Prices Of Hydroponically Grown Produce
- Spread Of Waterborne Diseases And Algae In Closed Systems
Patent Analysis
Leading players profiled in this report:
System input companies:
- Signify Holdings (Netherlands)
- Argus Control Systems (Canada)
- Heliospectra AB (Sweden)
- Scotts Miracle Gro (US)
- American Hydroponics (US)
- LumiGrow (US)
Hydroponic crop producers:
- AeroFarms (US)
- Terra Tech Corp (US)
- Triton Foodworks (India)
- Freight Farms (US)
- Green Sense Farms (US)
- Emirates Hydroponic Farm (Dubai)
For more information about this report visit https://www.researchandmarkets.com/r/yxng9m
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