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 is estimated to account for a value of USD 9.5 billion in
2020 and is projected to grow at a CAGR 11.3% from 2020, to reach a value of
USD 17.9 billion by 2026. Factors such as the higher yield as compared to
conventional agriculture practices, controlled environment farming, and
improved yield and higher produce with limited land resources are some of the
key factors driving the growth of the hydroponics system market during the
forecast period.
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By type, the nutrient film technique (NFT) system
segment is estimated to account for a larger market share, in terms of value,
in 2020
The nutrient film technique (NFT) segment is
projected to hold a larger market share in the liquid system segment. The
growing popularity of NFT and aeroponic systems has propelled their adoption in
developing countries, owing to which, the liquid systems are projected to grow
at the fastest rate during the forecast period. Owing to the high production of
lettuce in North America, the adoption of NFT systems is high in the region;
hence the NFT segment dominated the market in 2020.
The vegetables segment, on the basis of crop type,
is estimated to hold the largest share in the hydroponics market, in terms of
value, in 2020
The vegetables segment is projected to hold the
largest market share in the hydroponic crops market in 2020. 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.
By equipment, the HVAC segment is estimated to
account for a larger market share, in terms of value, in 2020
By equipment, the HVAC segment is projected to
hold the largest market share in the hydroponic systems market in 2020.
Heating, Ventilation & Air Conditioning or HVAC plays a key role in the
development of indoor growers, as the system is responsible for cooling,
dehumidification, and maintaining the optimum temperature inside the facility.
HVAC systems are essential for the operation of hydroponic and aeroponic farms
and should be reliable and well-controlled.
The nutrient segment, on the basis of input, is
estimated to hold the largest share in the hydroponic inputs market, in terms
of value, in 2020
The nutrient segment is projected to hold the
largest market share in the hydroponic inputs market in 2020. Nutrients are one
of the basics of hydroponic systems as it caters to the nutritional requirement
of the plant. There are two major types of nutrients used in hydroponics,
macronutrients, and micronutrients. Hydroponics helps the grower to take
complete control over the implementation of fertilizers, in terms of type and
concentration. 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.
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Asia Pacific is projected to grow at the highest
CAGR during the forecast period
Asia has the largest greenhouse vegetable growing
area of 224,974 ha across the globe, followed by Europe with 173,561 ha as per
the report on protected horticulture by FAO in 2017. Thus, with the high number
of greenhouses in Asia Pacific, the growth opportunity for hydroponic market is
the highest and hence, the region is expected to grow at the highest rate
during the forecast period.
This report includes a study on the marketing and
development strategies, along with a survey of the product portfolios of the
leading companies operating in the hydroponics market. It includes the profiles
of leading companies, such as Signify Holdings (Netherlands), Argus Control
Systems (Canada), Heliospectra AB (Sweden), Scotts Miracle Gro (US), Logiqs B.V
(Netherlands), Grobo (US), American Hydroponics (US), and LumiGrow (US).
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