Global Hydroponics Market

Description

Hydroponics is a modern farming technique – it is the process of growing or cultivating plants and crops without soil. In hydroponics, the crops are grown in a controlled environment system using mineral nutrient solutions in water.The crops are growing in greenhouses or in multilevel buildings. Hydroponics use two mediums to grow the crops – solid medium and solution medium. The solution method is gaining popularity in the world. This process of growing crops is being adopted globally to produce good quality crops in regions with unfavorable climatic conditions in a sustainable manner as the water used for growing crops remains in the system and can be reused.

End-user/Technology

The end-users of Hydroponicsare the commercial and residential users of this technology who grow plants without the use of soil.
The technologies used in the hydroponics market is of soil-less cultivation wherein mineral nutrient solution is used instead of soil to provide necessary nutrients for plant growth. These plants are grown in greenhouses or in multilevel buildings.

Market Dynamics

The growth of the global hydroponics market is driven by factors like lack of arable land, unfavorable climatic conditions for agriculture, increasing global population, the growing demand for food and increasing technological advancements. The market is also growing significantly because hydroponics help deriving higher yield as compared to the traditional agricultural techniques. The involvement of the market players in research and development activities is also leading to the growth of the market.
However, the factors like high initial investment costs, lack of proper awareness about soil-less agriculture system and techniques, and complex technologies might hinder the growth of the market.

Market Segmentation

The Hydroponics market is segmented on the basis of product type, farming technique, distribution channel and region.
By product type, the market is segmented into Tomatoes, Lettuce, Cucumber, Pepper and Others.
On the basis of Farming Technique, the market is segmented into Conventional and Natural & Organic.
By distribution channel, the market is segmented into Supermarket/Hypermarket,Grocery Stores, Specialty Stores, Online and Others.
Region-wise, the market is segmented across North America, South America, Europe, Asia-Pacific, Middle East and Africa.

Regional/Geographic Analysis

Europe region has the largest market share and is expected to be the largest in terms of revenues owing to the factors such as unfavorable climatic conditions for agriculture and lack of arable land. The APAC region is also expected to grow at a significant rate owing to the increasing population and hence increasing demand for food. North America is also expected to show considerable growth in the forecast period owing to the legalization of medicinal marijuana.

Opportunities

The market has a lot of potential for future opportunities owing to the strategies like merger and acquisitions being adopted by the market players. In addition to this, the increasing demand from the urban areas of the world forfresh fruits and vegetables also provides expansion opportunities in the market. The major players are involved in research and development activities which also throw new opportunities in the market.

Key Players

Some of the major players in the Hydroponics Market include Greentech Agro LLC (US), Argus Control Systems, Logiqs BV, Lumigrow, Inc., General Hydroponics Inc., Village Farms International and Hydrodynamics International, Inc.