Hydroponics Market – Analysis & Developments

The hydroponics
market was valued at USD 9.5 billion in 2020; it is projected to grow
at a CAGR of 11.3% to reach USD 17.9 billion by 2026. The pressure on the
agriculture industry to meet the growing demand for grains and food leads to
the search for high-yielding farming techniques, such as precision farming and
urban farming. Hydroponics thus is looked upon as a potential solution for the
growing concern about food security in the coming years.

Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=94055021

Key players hydroponics market include major players such as
Signify Holdings (Netherlands), Argus Control Systems (Canada), Heliospectra AB
(Sweden), Scotts Miracle Gro (US), American Hydroponics (US), LumiGrow (US),
Emerald Harvest (US), Hydroponic Systems International (Spain), Advanced
Nutrients (Canada), Vitalink (UK), Hydrodynamics International (Spain), Logiqs
B.V (Netherlands), Grobo (US), and American Hydroponics (US).  These major players in this market are
focusing on increasing their presence through expansions & investments,
mergers & acquisitions, partnerships, joint ventures, and agreements. These
companies have a strong presence in North America, Asia Pacific and Europe.
They also have manufacturing facilities along with strong distribution networks
across these regions.

Asia has the largest greenhouse vegetable growing area of
224,974 ha across the globe, followed by Europe with 173,561 ha as per the
report on protected horticulture by FAO in 2017. Thus, with the high number of
greenhouses in Asia Pacific, the growth opportunity for hydroponic market is
the highest and hence, the region is expected to grow at the highest rate
during the forecast period.

Fruits grown using hydroponics can be grown and harvested
throughout the year due to the interior conditions of the greenhouse or indoor
farming unit. Water-adaptable fruits such as watermelon, cantaloupe, and tomatoes
are among the ideal choice for farmers as they are easier to grow using
hydroponic methods. With more and more varieties of fruits taken under
cultivation in the hydroponics market is estimated to grow faster.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=94055021

As the crops under hydroponics grow without soil, the need
for external nutrients is very high for hydroponic-based crops. With the
increase in the use of soilless growing techniques in hydroponics, most of the
crops are directly grown with the roots in the nutrient medium. This leads to
an increase in demand for nutrients in this industry.