According to the World Economic Forum, the global population is expected to reach nearly 10 Billion by 2050, making the requirement of food 60 per cent higher than it is today. The growing need for exotic vegetables such as tomatoes, lettuce, peppers, cucumbers, herbs, and others used in intercontinental cuisines is a prime factor driving the global Hydroponics Market. Besides, the increasing awareness among the consumers of eating fresh vegetables is also expected to fuel the market in the future. The demand for exotic vegetables like tomatoes and red lettuce in food and retail chains like Burger King and KFC is anticipated to boost sales during the forecast period. According to the publisher, Global Hydroponics Market is estimated to reach US$ 19.08 Billion by 2027.
Based on Technology
Heating Ventilation & Air Conditioning (HVAC) plays a vital role in the development of indoor growers; to control the climate, hardware components such as climate control systems and lighting systems are essential. Further, the HVAC costs less than other technology like Irrigation systems, Led Grow Lights, Aeration systems and utilities that go into hydroponics. Global Hydroponics Market Size was US$ 10.30 Billion in 2020.
Region-wise Growth for Hydroponics Market Size
Worldwide, North America and Europe hold the largest market share; factors such as Europe has traditionally been at the front of implementing advanced techniques in hydroponic innovative greenhouse horticulture. Countries such as France, Netherlands and Spain have large areas under greenhouse cultivation. In the United States, enhancing demand for hydroponics and rising need for food and higher yield than traditional agricultural methods factors driving the hydroponics industry. Moreover, the rise in the consumption of exotic vegetables is adding value to the United States hydroponics market. As per our study, the Worldwide Hydroponics Industry will grow with a CAGR of 9.21% by 2020-2027.
The COVID- 19 pandemics has made it necessary to understand the importance of adequate nutrition to boost immunity, maximize health, and decrease the risk and impact of the virus. Having a strong and resilient immune system is a demand for hydroponics farming. Thus, the destructive aftermath of the pandemic should be a catalyst to expand taste, knowledge and awareness and contribute to the adoption of hydroponics for a sustainable food system globally.
Companies Initiatives in Hydroponics Industry
The world is witnessing an increased adoption of hydroponics globally. Many companies such as Signify Holding, Village Farms, Argus Control Systems Limited, Emirates Hydroponics Farms, Terra Tech Corp are investing massively into R&D for achieving state-of-art technologies that boost the productions and bring about a variety of cultivations possible. In 2019, Argus Control Systems Ltd partnered with Hydrofarm Holdings Group Inc. to provide exceptional environmental systems and services for horticultural production in the United States and Canada.
This latest report Global Hydroponics Market by Type (Aggregate, liquid) by Input (Nutrients, Growth Medium) by Crops (Tomatoes, lettuce, Pepper, cucumber, Herbs,Others) by Technology (Led Grow Lights, HVAC, Irrigation System, Aeration System) by Region (North America, Europe, Asia Pacific, south America, Middle East & Africa) by Company Analysis (Signify Holding, Village Farms, Argus Control Systems Limited, Emirates Hydroponics Farms, Terra Tech Corp)” studies the Global Hydroponics Market. The report also comprises qualitative factors such as drivers, restraints, and opportunities.
Type - Global Hydroponics Market have been covered from 2 viewpoints
- Aggregate
- Liquid
Input - Global Hydroponics Market have been covered from 2 viewpoints
- Nutrients
- Growth Medium
Crops - Global Hydroponics Market have been covered from 4 viewpoints
1. Vegetables
2. Herbs
3. Fruits
4. Others
Technology - Global Hydroponics Market have been covered from 4 viewpoints
1. Led Grow Lights
2. HVAC
3. Irrigation System
4. Aeration System
Region - Global Hydroponics Market have been covered from 5 viewpoints
1. North America
2. Europe
3. Asia Pacific
4. South America
5. Middle East & Africa
Company Analysis
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. Signify Holding
2. Village Farms
3. Argus Control Systems Limited
4. Emirates Hydroponics Farms
5. Terra Tech Corp
What is the estimated value of the Global Hydroponics Market?
What is the growth rate of the Global Hydroponics Market?
What is the forecasted size of the Global Hydroponics Market?
Who are the key companies in the Global Hydroponics Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 115 |
| Published | July 2021 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD
| USD 10.3 Billion |
| Forecasted Market Value ( USD
| USD 19.08 Billion |
| Compound Annual Growth Rate | 9.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
Table of Contents
Companies Mentioned
- Signify Holding
- Village Farms
- Argus Control Systems Limited
- Emirates Hydroponics Farms
- Terra Tech Corp
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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