Covered: Volatile rain patterns have boosted demand for industry produce, aiding revenue growth
Revenue for the Hydroponic Crop Farming industry has grown over the past five years. Hydroponic farmers grow crops in controlled conditions with reduced water requirements. This has made these crops better withstand adverse weather that has influenced the agriculture sector over the past five years. Fluctuating rainfall over the period has negatively affected crop supplies of outdoor, soil-based farmers, restricting competition in retail markets in some years. This trend has increased demand for hydroponic produce, lifting industry revenue. Revenue is anticipated to grow at an annualised 2.9% over the five years through 2021-22, to $502.9 million. This includes a rise of 0.1% over 2021-22. Border closures as a result of the COVID-19 pandemic have reduced numbers of foreign seasonal workers, restricting output over the period.
Industry operators mainly grow crops hydroponically, under protective cover or outdoors. Hydroponics is a method of growing plants without soil, using mineral nutrient solutions in water or another medium.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Flavorite Hydroponic Tomatoes Pty Limited
- Sundrop Farms Pty Ltd
Methodology
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