Global Hydroponics Market is estimated to account for US$ 716.25 Mn by end of 2027, Says Coherent Market Insights (CMI)

March 12, 2021April 16, 2021 Raza

SEATTLE, March 12, 2021 (GLOBE NEWSWIRE) — Hydroponics is the method of cultivating plants in water, either a solution of oxygen and mineral nutrient solution or air. This cultivation is accomplished with a support system in the form of media. Hydroponics systems provide a controlled environment for plants to thrive. There are advantages of Hydroponics and disadvantages such as; low water usage, the need for a constant and adequate nutrient source, direct exposure to sunlight, indirect sunlight, and lack of plant density in soil. The scope and natures of Hydroponics are vast. Hydroponics has great demand, especially in emerging countries. Hydroponics is an effective solution to grow crops at a lower cost and with better yield. Hydroponics is the science of growing plants in containers using water and nutrients under controlled conditions for better crop production.

The global hydroponics market is estimated to account for US$ 716.25 Mn in terms of value by the end of 2027, witnessing CAGR of 10.8% during the forecast period (2020-2027).

Market Drivers

1. Higher yield as compared to conventional agricultural practices is expected to drive growth of the global hydroponics market during the forecast period

Hydroponics has shown to yield a greater amount of produce than conventional agricultural practices. According to the research paper ‘Comparison between Growing Plants in Hydroponic System and Soil Based System’ published at the 4th World Congress on Mechanical, Chemical, and Material Engineering, August 2018, plants in the hydroponic system can achieve 20–25% higher yields than a soil-based system with productivity 2–5 times higher. Hydroponics uses water 90% more efficiently and many crops can be produced twice as fast in a well-managed hydroponic system. Hence, such factors are expected to drive growth of the global hydroponics market during the forecast period.

2. Increasing demand for cannabis is expected to propel the global hydroponics market growth over the forecast period

The demand for cannabis has increased significantly over the years for numerous applications including medicinal use, recreational use, and research purposes. Cannabis growers have been using different hydroponic methods to maximize yields and speed up growth. Hence, such factors are expected to propel the global hydroponics market growth over the forecast period.

Request for Sample Report copy @ https://www.coherentmarketinsights.com/insight/request-sample/1001

Market Opportunity

1. Growing popularity of hydroponics to provide high-profit margins can present lucrative growth opportunities in the global hydroponics market

Since hydroponics use water up to 90% more efficiently than conventional agricultural practices and boosts production 3 to 10 times in the same amount of space, its popularity is increasing rapidly across the globe. This, in turn, is enhancing the profit margin for farmers.

2. Rising application of hydroponic systems in restaurants and grocery stores since the COVID-19 pandemic can provide major business opportunities in the global hydroponics market

Many restaurants have started using hydroponic systems since they offer fresh produce and chef can provide the highest quality of food. Besides, hydroponic enhance the hotel and restaurant experience by adding live greenery to the surroundings.

Market Trends:

1. High yield of tomatoes is a key trend

Hydroponics can be used for many vegetables and crops such as cucumbers, tomatoes, peppers, herbs, lettuce, etc. Among these, tomatoes are expected to witness significant growth in the near future, due to a faster cultivation rate and requirement of less amount of water as compared to regularly farmed tomatoes.

2. High adoption of aggregate systems is another key trend

Aggregate systems are expected to witness massive adoption, owing to widespread popularity among indoor hydroponic farmers since their setup is inexpensive. Furthermore, in such systems, insert and solid media such as peat, sand, rock wool, perlite, and coconut coir provides for the plants.

Buy-Now this Research Report for detailed market insights @ https://www.coherentmarketinsights.com/insight/buy-now/1001

Competitive Landscape:

Key players involved in the global hydroponics market are Argus Control Systems Limited, Valoya, Hortisystems UK Ltd., Thanet Earth, Kubo Group, Terra Tech, GreenTech Agro LLC, Growlife, Heliospectra AB, General Hydroponics Inc., American Hydroponics, Inc., and Lumigrow Inc.

For instance, in January 2019, Hydrofarm Holdings Group, Inc. partnered with Argus Control Systems Limited to provide advanced environmental systems and services for horticultural production in Canada and the U.S.

Market Segmentation:

1. By Equipment
·HVAC
·Communication Technology
·LED Grow Light
·Control Systems
·Others
2. By System Type
·Aggregate Hydroponic system
·Liquid Hydroponic System
3. By Crop Type
·Tomato
·Lettuce and Leafy Vegetables
·Pepper
·Others
4. By Input Type
·Growth Medium
·Nutrients

Related Market Intelligence Reports:

Dicamba Market, By Application (Agriculture, Lawn & Turf, Others (Forests, Garden & Plants, Non-commercial applications, etc.)), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

Soil Active Herbicides Market, by Mobility Type (Contact and Systemic), by Mode of Action (Selective Herbicides and Non-Selective Herbicides), by Product Type (Synthetic Herbicides and Bio-herbicides), by Application (Pre-Plant, Pre-Emergence, and Post-Emergence), by End-use Industry (Farming Lawns and Gardening & Landscaping), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

Follow Us: LinkedIn | Twitter

Contact Us:Mr. ShahSenior Client Partner – Business DevelopmentCoherent Market InsightsPhone: US: +1-206-701-6702 UK: +44-020-8133-4027 Japan: +81-050-5539-1737 India: +91-848-285-0837Email: [email protected]: https://www.coherentmarketinsights.com