Global Hydroponics Market - Forecasts From 2018 To 2023

Description

The global hydroponics market was valued at US$411.88 million in 2017 and is expected to grow at a CAGR of 12.81% to reach a market size of US$752.57 million by the year 2022. Hydroponics is a branch of hydroculture which refers to the process of growing plants with the help of mineral nutrient solution in a water solvent in a soilless medium or in an aquatic based environment. With hydroponics, the plants can be developed in an idle growing medium and adjusted and pH balanced supplement arrangement is provided to the roots in a highly dissolvable manner.  The pH adjusted nutrient solution enables the plant to take-up its food with almost no effort as compared to the soil where the roots must find out its nourishment and extract them.

Market Outlook

The global market of hydroponics is predominantly driven by the better yield produced by hydroponics than other agricultural techniques. The hydroponics system is considered to generate better results than other methods in less time as compared to others. In addition, the rises in global demand for food owing to constant increase in global population contribute to the global hydroponics market growth significantly. Factors like growing consumption of exotic vegetables and salad crops and profit farming are also expected to drive the market growth. However, a high initial cost and lack of proper knowledge among players along with the requirement of technical knowledge about hydroponics system will prohibit entrants from entering into the market, thus posing a potential restraint to the market.

Geographic Outlook

Geographically, Europe is expected to drive the global market for hydroponics on account of implementing advanced techniques in hydroponic solutions.

Research Methodology

Firstly, the report provides a brief introduction of the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.

Market Dynamics

Next, the section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of Hydroponics. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.

Segmentation

Thirdly, Hydroponics Market has been segmented on the basis of type, input, crop and geography as follows:

By Type

Liquid Hydroponic Systems

Aggregate Hydroponic System

Closed System

Open System

By Input

Growth Medium

Nutrients

By Crop

Strawberry

Pepper

Lettuce & Leafy Vegetables

Tomato

Cucumber

Other

By Geography

Americas

North America

South America

Europe Middle East and Africa

Europe

The Middle East and Africa

Asia Pacific

Market Players

Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are GreenTech Agro LLC., Koninklijke Philips N.V, AmHydro Inc, Vermont Hydroponics and Scotts Miracle-Gro Company.