Hydroponics Market - Growth, Trends and Forecasts (2020 - 2025)

The Global Hydroponics Market is segmented by type (aggregate hydroponic system and liquid hydroponic system); by crop type (tomato, lettuce & leafy vegetables, pepper, cucumber, and others). A detailed geographical analysis covering more than 16 countries are also included.

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Africa

Largest Market:

North America

CAGR:

8.48 %

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Market Overview

The Global Hydroponics Market is projected to register a CAGR of 8.48% over the forecast period (2020-2025). In 2019, North America is the largest geographic segment of the market studied and accounted for a share of around 35% 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.
  • High-cost is the only major drawback the hydroponics market. 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.
  • Considering the force and isolation of COVID 19, strengthening food production and distribution systems has become a key concern for the future. As per FAO studies the development of alternate growing systems such as hydroponics is anticipated to play an important role in the global food security, by supplying with safe and nutritious food. In addition this can also help in tackling the logistical uncertainities in the market. Thus the need for hydroponics is anticipated to grow in the future.

Scope of the Report

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.

The Global Hydroponics Market is segmented by type into aggregate hydroponic system and liquid hydroponic system. By crop type market is segmented into tomato, lettuce & leafy vegetables, pepper, cucumber, and others. Based on geography the market is segmented into North America, Europe, Asia-Pacific, South America and Middle East and Africa.

Type
Aggregate Hydroponic System
Closed System
Open System
Liquid Hydroponic System
Crop Type
Tomato
Lettuce & Leafy Vegetables
Pepper
Cucumber
Microgreens
Other Crop Types
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Spain
Italy
Netherlands
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
United Arab Emirates
South Africa
Rest of Middle East and Africa

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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, 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 is anticipated to boost the sales during the forecast period.

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North America Dominates The Global Market

The demand for fresh vegetables and fruits in the region is driving the market demand for hydroponic operations. At present, the hydroponics farms preset in the region are family or small business operations which covers 1/8 – 1 acre. Roof top hydroponic gardens in urban setups like New York is 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 not a labor-intensive method to manage larger areas of production, and an efficient method to control inputs and manage facilitates for disease and pests. As the hydroponics eliminate 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. Increasing adoption of hydroponics as cultivation method is anticipated to drive the market growth.

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Competitive Landscape

The global hydroponics market is a fragmented market, with various small and medium-sized companies coining a very minimal share . 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. Similarly, in Novemeber 2018, IKEA, a dealer in home accessories ,developed new hydroponic cultivation kit for indoor cultivation of herbs and vegetables.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions & Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat from Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Aggregate Hydroponic System

        1. 5.1.1.1 Closed System

        2. 5.1.1.2 Open System

      2. 5.1.2 Liquid Hydroponic System

    2. 5.2 Crop Type

      1. 5.2.1 Tomato

      2. 5.2.2 Lettuce & Leafy Vegetables

      3. 5.2.3 Pepper

      4. 5.2.4 Cucumber

      5. 5.2.5 Microgreens

      6. 5.2.6 Other Crop Types

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Spain

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Netherlands

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 South Africa

        4. 5.3.5.4 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Hydroponic Crop Producers

        1. 6.3.1.1 Bright Farms

        2. 6.3.1.2 Circle Fresh Farms

        3. 6.3.1.3 Hydrodynamics International Inc.

        4. 6.3.1.4 Village Farms International Inc.

        5. 6.3.1.5 Pegasus Agritech

      2. 6.3.2 Input Providers

        1. 6.3.2.1 Argus Control Systems Limited

        2. 6.3.2.2 Hortisystems UK Ltd.

        3. 6.3.2.3 Kubo Group

        4. 6.3.2.4 GreenTech Agro LLC

        5. 6.3.2.5 Heliospectra AB

        6. 6.3.2.6 American Hydroponics, Inc.

        7. 6.3.2.7 Lumigrow Inc.

        8. 6.3.2.8 General Hydroponics Inc.

        9. 6.3.2.9 Growlife

        10. 6.3.2.10 Terra Tech

        11. 6.3.2.11 Thanet Earth

        12. 6.3.2.12 Valoya

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

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