The Global Hydroponics System Market size was estimated at USD 9,753.22 million in 2021, USD 10,986.30 million in 2022, and is projected to grow at a CAGR of 12.81% to reach USD 20,112.26 million by 2027.
Market Statistics:
The report provides market sizing and forecast across 7 major currencies – USD, EUR, JPY, GBP, AUD, CAD, and CHF. It helps organization leaders make better decisions when currency exchange data is readily available. In this report, the years 2018 and 2020 are considered as historical years, 2021 as the base year, 2022 as the estimated year, and years from 2023 to 2027 are considered as the forecast period.
Market Segmentation & Coverage:
This research report categorizes the Hydroponics System to forecast the revenues and analyze the trends in each of the following sub-markets:
- Based on Type, the market was studied across Aggregate Systems and Liquid Hydroponic Systems. The Aggregate Systems is further studied across Drip System, The Ebb and Flow System, and Wick System. The Liquid Hydroponic Systems is further studied across Aeroponics, Deep Water Culture, and Nutrient-Film Technique (NFT).
- Based on Input, the market was studied across Grow Media and Nutrients. The Grow Media is further studied across Coco Fiber, Perlite & Vermiculite, and Rockwool. The Nutrients is further studied across NPK and Trace Minerals.
- Based on Equipment, the market was studied across Control Systems, HVAC, Irrigation Systems, LED Grow Light, and Material Handling.
- Based on Crop Type, the market was studied across Cucumber, Lettuce & Leafy Vegetables, Microgreens, Pepper, and Tomato.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Hydroponics System Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
Market Dynamics
Drivers
- Higher Yield Over Conventional Agriculture Practices
- Controlled Environment Farming Results the Removal External Factors Effect on Crop Growth
- Hydroponic Systems Support Conserve Natural Resources
- High Produce & Improved Yield With Limited Land Resources
- Lower Water Utilization Compared to Conventional Farming Methods
Restraints
- High Degree Initial Investment for Large-Scale Farms
- Lack of Support of Government Policy and Tax Breaks in Developing Countries
Opportunities
- Innovative Hydroponic Technologies Development
- New Players Entry in the Hydroponics Market
- Application of Hydroponics Systems in Restaurants and Grocery Stores
- Growing Demand for Organic Food
- Growing Demand for Cannabis to Fuel the Demand for Hydroponics
Challenges
- High Cost of Hydroponically Grown Produce
- Spread of Waterborne Diseases and Algae in Closed Systems
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Hydroponics System Market, by Type
7. Hydroponics System Market, by Input
8. Hydroponics System Market, by Equipment
9. Hydroponics System Market, by Crop Type
10. Americas Hydroponics System Market
11. Asia-Pacific Hydroponics System Market
12. Europe, Middle East & Africa Hydroponics System Market
13. Competitive Landscape
14. Company Usability Profiles
15. Appendix
Companies Mentioned
- Advanced Nutrients Ltd
- American Hydroponics
- Argus Control Systems Ltd.
- BrightFarms Inc.
- Emerald Harvest Co.
- Heliospectra AB
- Hydrodynamics International
- Hydroponic System International
- Logiqs B.V.
- LumiGrow, Inc
- Pegasus Agritech
- Signify Holding
- The Scotts Miracle-Gro Company
- Valoya
- Vitalink
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