Dublin, Oct. 19, 2022 (GLOBE NEWSWIRE) -- The "Hydroponics Market by Type (Aggregate systems and Liquid systems), Equipment, Input (Nutrients and Grow media), Crop Type (Vegetables, Fruits, Flowers), Farming method (Indoor and Outdoor), Crop area, and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global hydroponic system market is valued at USD 12.1 Billion and is projected to reach USD 25.1 Billion by 2027. The global hydroponics crop market is estimated to be valued at USD 37.7 Billion in 2022 and is projected to reach USD 53.4 Billion by 2027, recording a CAGR of 7.2%. Hydroponic technology is an efficient alternative to the rising concerns on food security and shrinking arable land since it allows growers to cultivate crops even in the absence of soil.
One of the major drivers is that hydroponics provides higher yield compared to traditional agricultural techniques, owing to the efficient harvest cycles. Furthermore, hydroponics eliminates use of artificial ripening agents and pesticides, which helps create nutritionally superior vegetable products.
By type, the liquid systems segment is projected to account for the largest market share during the forecast period.
Based on type, the liquid systems segment is projected to account for the largest market share. Deep water culture systems and NFT have been the major systems adopted across major growing countries like Spain, France, and the Netherlands for commercial crop cultivations like tomatoes. In North American countries, NFT techniques are highly adopted as these systems are best suitable for production of lettuce, which are in high demand in North America.
By equipment, the HVAC segment accounted for the second largest share during the review period.
Heating, ventilation, and air conditioning or HVAC play a key role in developing indoor hydroponic farms, as the system is responsible for cooling, dehumidifying, and maintaining the optimum temperature inside the facility. The HVAC system is designed to negate the external conditions and provide ideal conditions for year-round growth and cultivation. This equipment is important for maintaining the ideal conditions for plant growth inside the hydroponic greenhouse.
By crop type, the vegetables segment accounted for the largest market share during the review period.
Considering the use of the proper system, a wide variety of plants can be grown hydroponically. Vegetables grown using hydroponics are known to grow faster and stronger than in traditional farming, as the right nutrients are delivered directly to the plant's roots. Hydroponically grown plants are known to retain their full nutritive value and are equal or, in certain cases, superior to conventionally grown vegetables. Peppers, lettuce, spinach, cucumbers, tomatoes are some of the major vegetables cultivated using hydroponics. Among fruits, watermelons, and different berries such as strawberries and blue berries are widely grown in hydroponic farms.
The Europe region held the largest market share in the global hydroponics market
Europe has traditionally been at the forefront of implementing advanced hydroponic smart greenhouse horticulture techniques. Countries such as the Netherlands, Spain, and France have large areas under greenhouse cultivation. However, in the Netherlands, the growers mostly cultivate their plants in simple tunnel-like greenhouses without the use of climate control technologies. Advancement in greenhouse farming has supported the growth of hydroponics in Europe.
Leading players profiled in this report include the following:
- Signify Holding (Netherlands)
- Heliospectra AB (Sweden)
- ScottsMiracle-Gro (US)
- Argus Control Systems (Canada)
- Logiqs B.V. (Netherlands)
- LumiGrow, Inc. (US)
- Hydroponic Systems International (Spain)
- Hydrodynamics International (US)
- American Hydroponics (US)
- Advanced Nutrients (US)
- Emerald Harvest (US)
- VitaLink (UK)
- Freight Farms (US)
- AeroFarms (US)
- Triton Foodworks Pvt. Ltd. (India)
- Green Sense Farms (US)
- Emirates Hydroponic Farm (UAE)
- Gotham Greens (US)
- Nature's Miracle (India)
- Bright Farms (US)
- InFarm (Germany)
- Badia Farms (UAE)
- Research Coverage
Market Dynamics
Drivers
- Higher Yield Compared with Conventional Agricultural Practices
- Controlled Environment Farming Eliminates External Factors on Crop Growth
- Conservation of Natural Resources
- Improved Yield and Higher Productivity with Limited Land Resources
- Lower Water Utilization Compared with Conventional Farming Methods
- Increase in Demand for Cannabis Using Hydroponics
Restraints
- High Capital Investment for Large-Scale Farms
- Lack of Government Incentives and High Prices of Hydroponically Grown Produce Dissuading Market Adoption
Opportunities
- Growth in Popularity of Hydroponics to Provide High Profit Margins
- Increase in Application of Hydroponic Systems in Restaurants and Grocery Stores
Challenges
- Debate on Certifying Hydroponic Produce as Organic
- Spread of Waterborne Diseases and Algae in Closed Systems
- Risk of Equipment Failure and Delay in Learning Curve Among Growers
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Hydroponics Market, by Type
8 Hydroponics Market, by Equipment
9 Hydroponics Market, by Input
10 Hydroponics Market, by Crop Type
11 Hydroponics Market, by Farming Method
12 Hydroponics Market, by Crop Area
13 Hydroponics Market, by Region
14 Competitive Landscape
15 Company Profiles
16 Adjacent and Related Markets
17 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/bve79g
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