Global Hydroponics Market Size, Share, Growth, Trend & Forecast 2025by Mack Nene SEO | Digital Marketing
Global hydroponics market is expected to grow at an impressive rate during the forecast period. The global hydroponics market is driven by the growing need to meet the demand of the ever increasing population and ensure food safety. The hydroponics technique helps in increasing the harvest cycle thereby increasing the overall crop yield. This in turn is expected to spur the market growth through 2025. Additionally, this is a soil less agriculture technique which eliminates the use of harmful insecticides, pesticides, fertilizers or other chemical agents thereby maintaining environmental and human health. This ensures sustainability as well as helps in minimizing the additional costs that the farmers bear due to the use of chemical agents for crop protection and increasing yield. Furthermore, the outbreak of pandemic COVID-19 disease has drastically increased the focus towards indoor methods of farming such as hydroponics, precision agriculture, vertical farming, among others. This is expected to foster the market growth through 2025. However, lack of awareness and adoption especially in the emerging countries can restrict the market growth over the next few years. Besides, high initial costs incurred for doing the setup and buying & maintenance of equipment is also expected to slow down the market growth during the forecast period.
The global hydroponics market is segmented based on type, equipment, input, farming method, crop area, crop type, company and region. Based on type, the market can be split into aggregate systems and liquid systems. The liquid systems segment is expected to dominate the market on account of their affordability, efficiency and ability to increase the overall productivity. Based on crop type, the market can be fragmented into vegetables, fruits, flowers and others. The vegetables segment is expected to hold the largest market share during the forecast period. this can be ascribed to the fact that hydroponics technique helps in increasing the vegetable produce and helps them grow faster and stronger.
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Regionally, the hydroponics market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, Europe is expected to hold a significant market share in the overall hydroponics market owing to the early adoption of the technology and ongoing technological advancements in greenhouse farming techniques. Furthermore, the presence of major players in the region further drives the market growth.
The major players operating in the hydroponics market are Signify Holdings, Argus Control Systems Ltd., Heliospectra AB, Scotts Miracle Gro, American Hydroponics, LumiGrow, Kubo Group, Hortisystems UK Limited, GreenTech Agro LLC, Hydrofarm, Inc., Amhydro, Triton Foodworks, AeroFarms, Crop One Holdings, SugarMade (BZERTH Inc.) and others. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
- To analyze and estimate the market size of global hydroponics market from 2015 to 2018.
- To estimate and forecast the market size of global hydroponics market from 2019 to 2025 and growth rate until 2025.
- To classify and forecast global hydroponics market based on type, equipment, input, farming method, crop area, crop type, company and regional distribution.
- To identify dominant region or segment in the global hydroponics market.
- To identify drivers and challenges for global hydroponics market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global hydroponics market.
- To identify and analyze the profile of leading players operating in global hydroponics market.
- To identify key sustainable strategies adopted by market players in global hydroponics market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of hydroponics equipment manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the hydroponics equipment manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the hydroponics equipment manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of global hydroponics market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Hydroponics equipment manufacturers/ suppliers/ distributors
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to hydroponics
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as hydroponics equipment manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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Created on Jul 27th 2021 02:30. Viewed 46 times.