Hydroponics Market Research, Share, Trend, Top Key Players, Global Industry Analysis by Forecast to 2022
Hydroponics Market Overview:
Hydroponics crop value is anticipated to grow to USD 27.29 Billion by 2022 at an estimated CAGR of 6.39% from 2015 to 2020. Improved yields, higher return on investment, and protected environment among others, attracting a larger share of producers as well as investors has been driving the hydroponics market.
The agriculture sector is one of the oldest and the most established sector for any country’s economy. The idea of taking crops out of soil and growing in a completely soil-less medium is still surprising for the mass. Hydroponics is the fastest growing soil-less farming practice at a global level, wherein a tailored nutrient solution is used for the crop to attain its full growth with a superior quality in a sustainable manner. The technique introduced several advantages in terms of increased yield, higher returns on investment, and protected environment among others, attracting a larger share of producers as well as investors.
With the progressive integration of technology with agricultural practices there have been significant improvements in conventional farming practices, yield quantities, and associated returns on investments. However, in the past decade there has been constant degradation of natural resources such as land and water. This along with several other monetary reasons has led to an alarming need of switching to unconventional farming techniques, such as hydroponics, which does not depend on soil, fertile land, and water resources for cultivation.
Major Key Players: The leading market players in Hydroponics Market primarily are Village Farms International, Thanet Farms, Pegasus Agritech, James Foskett Farms. Terra Tech, Growlife, American Hydroponics and General Hydroponics.
Regional Analysis: Hydroponics Market is segmented into Europe, North America, and Asia Pacific along with rest of the world (RoW). Among this Europe region is dominating the hydroponics market. Europe is an established market for hydroponics, whereas North America, primarily the U.S. and APAC, primarily India hold immense potential to grow significantly during the forecast years. The European region lead the global hydroponics market in 2014 with an estimated crop value of USD 9.8 billion and will continue with this dominance growing over USD 13.38 Billion by 2020 at an estimated CAGR of 5.28% through 2015 to 2020
Key Findings: The soil-less farming technique (hydroponics) is poised to grow over USD 27.29 Billion by 2022 at an estimated CAGR of 6.39% from 2015 to 2022. Hydroponic crop value in Europe will be lower than the global average at a steady 5.28% CAGR, growing from USD 9.8 Billion in 2014 to USD 13.38 Billion in 2022. Developing countries of Middle East and Africa will continue contributing smaller shares to the global hydroponic crop value through the forecast period. Tomatoes are the largest contributor to the global hydroponic crop value and will continue with this dominance during the forecast period
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