Hydroponics Market, Covid-19 Outbreak, Industry Scenario, Quality, Survey, Regional, Analysis, Segmentation, Key Players and Forecast to 2024

Market Overview

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.

Market Forecast

The global hydroponics crop value is anticipated to grow to USD 27.29 Billion by 2022 at an estimated CAGR of 6.39% from 2015 to 2022. Improved yields, higher return on investment, and protected environment among others, attracting a larger share of producers as well as investors has been driving the hydroponics market.

By downstream analysis-

The global population count is set to reach the 9 billion mark by 2050, and the food resources are depleting at a proportionate rate. With the progressive integration of technology with agricultural practices there have been significant improvements in conventional farming practices, yield quantities, and associated returns on investments. However, in the past decade there has been constant degradation of natural resources such as land and water. This along with several other monetary reasons has led to an alarming need of switching to unconventional farming techniques, such as hydroponics, which does not depend on soil, fertile land, and water resources for cultivation.

Regional Analysis

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 2014 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 2015 to 2020. The Americas will be growing at the highest CAGR of 9.1% from 2015 to 2020. Developing countries of Middle East and Africa will continue contributing smaller shares to the global hydroponic crop value through the forecast period.

Market Segmentation-

Global hydroponics market is segmented by crops and region.

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Key Players

• Heliospectra AB (Sweden)
• Scotts Miracle Gro (US)
• Village Farms (Canada)
• Argus Control Systems (Canada)
• Iron Ox (US)
• American Hydroponics (US)
• Terra Tech Corp (US)
• Hydroponic Farms (UAE)
• LumiGrow (US)
• Aerofarms (US)
• Signify Holdings (Netherlands)
• Triton Foodworks Ltd. (India)
• Urban cultivator (Canada)
• Green Sense Holdings (US)

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.