2016 - 2026
Need a report that reflects how COVID-19 has impacted this market and its growth?
The hydroponics market is projected to register a CAGR of 8.5% over the forecast period, 2021-2026.
Considering the force and isolation of COVID 19, strengthening the food production and distribution systems has become a key concern for the future, which has boosted the need for hydroponics farms. As per FAO studies, the development of alternate growing systems such as hydroponics is anticipated to play an important role in global food security by supplying safe and nutritious food. In addition, this can also help in tackling the logistical uncertainties in the market. Thus, the need for hydroponics is anticipated to grow during the forecast period.
In 2020, North America was the largest geographic segment of the market studied and accounted for a share of around 35.78% of the hydroponics market. Hydroponics is an environment-friendly and profitable technology. It has been promoted by 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. Additionally, with 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.
Scope of the Report
Hydroponics involves the process of growing plants using mineral nutrient solutions in sand, gravel, or liquid without using soil. The hydroponics market is segmented by type (aggregate hydroponic system (closed system and open system) and liquid hydroponic system), crop type (tomato, lettuce and leafy vegetables, pepper, cucumber, and other crop types), and geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report offers the market sizes and forecast in value (USD) for all the above segments.
|Liquid Hydroponic System|
|By Crop Type|
|Lettuce and Leafy Vegetables|
|Other Crop Types|
Key Market Trends
Higher Consumption of Salads and Vegetables
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 to accelerate the production of exotic fruits and vegetables and meet the escalating demand. Increasing awareness among the consumers of eating fresh vegetables may also fuel the market in the future. The demand for exotic vegetables like red and yellow capsicum and red lettuce in food and retail chains, like Burger King and KFC, is anticipated to boost sales during the forecast period.
To understand key trends, Download Sample Report
North America Dominates the Market
The demand for fresh vegetables and fruits in the region is driving the market demand for hydroponic operations. At present, the hydroponics farms present in the region are family or small business operations that cover approx. 1 acre. Rooftop hydroponic gardens in urban setups like New York are helping the market grow further. The future growth of the hydroponics market in the region depends greatly on the development of hydroponic production systems that are competitive in cost with systems of open-field agriculture. Hydroponic production has gained popularity among commercial vegetable producers since it is an efficient method to control inputs and manage facilitates for disease and pests and not a labor-intensive method to manage larger areas of production. As hydroponics eliminates the need for soil fumigants and can increase yields of popular vegetables, farmers in the region are anticipated to adopt hydroponics as a popular cultivation method. The increasing adoption of hydroponics as a cultivation method is anticipated to drive the market growth.
To understand geography trends, Download Sample Report
Global Hydroponics input provider market is consolidated with major layers holding a market share of 53.6% and others holding a share of 46.4%. Some of the prominent players operating in the market includes Koninklijke Philips N.V, Argus Control Systems Ltd, American Hydroponics and Hydrodynamics International, Inc.
The hydroponic systems output market is highly fragmented, with the top five companies, such as Bright Farms, Inc., FreshBox Farms, Pegasus Agritech, Village Farms International, Inc., and Thanet Earth, among others, cornering just 7.1% of the market share, while the rest of the market is shared among numerous players. Some of which include, Circle Fresh Farms, Green Sense Farms Holdings Inc., and Plenty Unlimited Inc., etc.
- In January 2019, Argus Control Systems Ltd partnered with Hydrofarm Holdings Group Inc. to provide advanced environmental systems and services for horticultural production in the United States and Canada.
- In November 2018, IKEA, a manufacturer of home accessories, developed a new hydroponic cultivation kit for the indoor cultivation of herbs and vegetables.
- In October 2018, Box Greens, a Miami-based company, introduced farms-in-a-box, which retrofits containers into portable hydroponics farms.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat from Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Aggregate Hydroponic System
18.104.22.168 Closed System
22.214.171.124 Open System
5.1.2 Liquid Hydroponic System
5.2 By Crop Type
5.2.2 Lettuce and Leafy Vegetables
5.2.6 Other Crop Types
5.3.1 North America
126.96.36.199 United States
188.8.131.52 Rest of North America
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 Rest of Asia-Pacific
5.3.4 South America
22.214.171.124 Rest of South America
5.3.5 Middle-East and Africa
126.96.36.199 Saudi Arabia
188.8.131.52 United Arab Emirates
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Hydroponic Crop Producers
18.104.22.168 Bright Farms
22.214.171.124 Circle Fresh Farms
126.96.36.199 Hydrodynamics International Inc.
188.8.131.52 Village Farms International Inc.
184.108.40.206 Pegasus Agritech
6.3.2 Input Providers
220.127.116.11 Argus Control Systems Limited
18.104.22.168 Hortisystems UK Ltd
22.214.171.124 Kubo Group
126.96.36.199 GreenTech Agro LLC
188.8.131.52 Heliospectra AB
184.108.40.206 American Hydroponics Inc.
220.127.116.11 Lumigrow Inc.
18.104.22.168 General Hydroponics Inc.
22.214.171.124 Terra Tech
126.96.36.199 Thanet Earth
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
You can also purchase parts of this report. Do you want to check out a section wise price list?
Frequently Asked Questions
What is the study period of this market?
The Hydroponics Market market is studied from 2016 - 2026.
What is the growth rate of Hydroponics Market?
The Hydroponics Market is growing at a CAGR of 8.5% over the next 5 years.
Which region has highest growth rate in Hydroponics Market?
Africa is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Hydroponics Market?
North America holds highest share in 2020.
Who are the key players in Hydroponics Market?
- Argus Control Systems Ltd.
- Hortisystems UK Ltd.
- GreenTech Agro LLC
- Kubo Group
- Village Farms
Are the major companies operating in Hydroponics Market.