According to the latest report by IMARC Group, titled “Hydroponics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global hydroponics market reached a value of US$ 10.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 20.9 Billion by 2027, exhibiting at a CAGR of 11.5% during 2022-2027. Hydroponics, also called aquaculture, is a method of growing plants without soil. This method replaces the soil with water-based mineral nutrient solutions in aqueous solvents that are inserted around the plant roots. The plant roots are submerged under the solution and checked periodically to ensure the appropriate chemical composition required for growth. The hydroponic process minimizes the risks of diseases caused by soil organisms and helps produce a better yield than similar plants grown in soil.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Hydroponics Market Trends:
The global market is majorly driven by the growing awareness among consumers regarding the adverse effects of pesticides and artificial ripening agents on plant and human health. In line with this, the increasing use of the hydroponic method for indoor farming is significantly contributing to the market growth. Furthermore, rapid technological advancements in hydroponics solutions, such as the use of IoT to enable automatic and remote data collection and monitoring, are also creating a positive outlook for the market.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Breakup by Type:
- Aggregate Hydroponic System
- Closed System
- Open System
- Liquid Hydroponic System
Breakup by Crop Type:
- Lettuce and Leafy Vegetables
Breakup by Equipment:
- LED Grow Light
- Irrigation Systems
- Material Handling
- Control Systems
Breakup by Region:
- Middle East and Africa
- North America
- Latin America
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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