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The Global Hydroponics Market is segmented by type into the aggregate hydroponic system and liquid hydroponic system, by crop type into the tomato, lettuce & leafy vegetables, pepper, cucumber, and others. A detailed geographical analysis covering more than 16 countries are also included.
Fastest Growing Market:
The Global Hydroponics Market was valued at USD 23.94 billion in 2018 and is expected to register a CAGR of 6.8% during the forecast period (2019-2024). In 2018, Europe is the largest geographic segment of the market studied and accounted for a share of around 47.3% of the overall market.
Hydroponics is an environment-friendly and profitable technology. It has been promoted by the various governments and non-governmental organizations for its benefits in terms of food security.The need for food supply against the explosive population increase by 2050 has catalyzed the growth of the hydroponics market.Fund flows towards the market for bringing development and technological advancement in this specific sector.
High-cost is the only major drawback in technology. However, a lot of R&D activity is being carried out globally to reduce the cost involved in technology. The major industry drivers include high profits, growing emphasis on food security, and increasing consumption of salad and exotic vegetables.
Hydroponics involves the process of growing plants by using mineral nutrient solutions in sand, gravel, or liquid, without using soil. Due to the increasing success rates associated with the commercial hydroponics industry and the increasing difficulty of growing crops on soil, the hydroponics market is expanding exponentially. Along with the market expansion, manufacturers of hydroponic equipment are focusing on the development of new efficient systems.
|Liquid Hydroponic System|
|Lettuce & Leafy Vegetables|
|Other Crop Types|
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The demand for exotic fruits and vegetables has been constantly growing at a higher rate due to the increased purchasing power of consumers. The cost of these exotic products is high, as most of these products are imported, and thus, several research institutions and universities are focusing on establishing more simplified hydroponics systems, in order to accelerate the production of exotic fruits and vegetables and meet the escalating demand.
Increasing awareness among the consumers of eating fresh vegetables will also fuel the market in future. Demand for Exotic vegetables like red and yellow capsicum, red lettuce in Retail company like Burger king,KFC,Pizza will drive the market.
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Europe is traditionally the largest market, that is implementing advanced techniques in hydroponics smart greenhouse horticulture. The matured European market demand is led by countries, such as the Netherlands, Spain, and France. In Europe, Holland is the largest producer of hydroponic crops and is expected to maintain the lead for the next 10 years. This is because of the vast expansion of hydroponics technology in the Netherlands. Germany is expected to register a higher pace, among the European countries. The major vegetable and fruit crops that are grown using hydroponics in European countries include, cucumber, tomatoes, roses, and peppers among others. As consumers are becoming increasingly aware of the quality difference in greenhouse-grown vegetables, the demand for hydroponics culture is increasing in Europe.
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The global hydroponics market is a niche market, with various small and medium-sized companies coining a very minimal share in the world. This has resulted in very stiff competition. The development of regional markets and local players in different parts of the world is the major factor for the fragmented nature of the market. Europe and the Asia Pacific are the two regions showing maximum competitor activities.
In October 2018, Box greens, a miami based company that introduced farms-in-a-box which retrofits cointainers into portable hydroponics farms.In Novemeber 2018, IKEA, a dealer in home accessories ,developed new hydroponic cultivation kit for indoor cultivation of herbs and vegetables
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Growing Emphasis on Food Security
4.1.2 Higher Consumption of Salad Crops and Exotic Vegetables
4.1.3 Environment-Friendly Profit Farming
4.2 Market Restraints
4.2.1 High Startup Cost
4.2.2 Less Adoption and Awareness
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat from Substitute Products
4.3.5 Competitive Rivalry
5. MARKET SEGMENTATION
5.1.1 Aggregate Hydroponic System
184.108.40.206 Closed System
220.127.116.11 Open System
5.1.2 Liquid Hydroponic System
5.2 Crop Type
5.2.2 Lettuce & Leafy Vegetables
5.2.6 Other Crop Types
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle East & Africa
18.104.22.168 Middle East
22.214.171.124 South Africa
126.96.36.199 Rest of Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Company Profiles
6.2.1 Hydroponic Crop Producers
188.8.131.52 Bright Farms
184.108.40.206 Circle Fresh Farms
220.127.116.11 Hydrodynamics International Inc.
18.104.22.168 Village Farms International Inc.
22.214.171.124 Pegasus Agritech
6.2.2 Input Providers
126.96.36.199 Argos Controls
188.8.131.52 Hortisystems UK Ltd.
184.108.40.206 Kubo Group
220.127.116.11 GreenTech Agro LLC
18.104.22.168 Heliospectra AB
22.214.171.124 American Hydroponics, Inc.
126.96.36.199 Lumigrow Inc.
188.8.131.52 General Hydroponics Inc.
184.108.40.206 Terra Tech
220.127.116.11 Thanet Earth
6.3 Market Share Analysis
7. MARKET OPPORTUNITIES AND FUTURE TRENDS