Hydroponics Market to Reach USD 490.50 Million at 18.8% CAGR - Global Trends and Forecasts to 2023

Global Hydroponic Market By Equipment (Hvac, Led Grow Light, Communication, Technology, Irrigation Systems, Material Handling, Control Systems) Type (Aggregate Hydroponic System, Liquid Hydroponic Systems) Input (Nutrients, Growth Medium) Crop (Tomato, Lettuce & Leafy Vegetables, Cucumber, Pepper, Strawberry) Forecast To 2023

Global Hydroponics Market is projected to reach USD 490.50 Million by 2023, growing at a CAGR of 18.8% from 2017 to 2023. One of the major drivers is that Hydroponics Market provides higher yields. Changing preferences of people for hydroponics as profit farming is the primary factor impelling the growth of the global market. Moreover, the growing focus on the cultivation of medicinal plants and customized farming approach is expected to offer a new development opportunity for the diligence. Companies are concentrating on enhancing the crop production by acceptance of hydroponics method.

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Moreover, large spending on R&D activities and new product launches may expand the market. Conversely, lack of awareness regarding hydroponics and huge initial investment may hamper the global Hydroponics Market growth to some extent. Lack of scientific knowledge regarding the soil-less agriculture system and high setup cost is predicted to restrain the market growth to some extent. However, increased cultivation of new plants with the innovation of technology, the emergence of vertical farming and changes in farming approach may provide future growth opportunities for the industry.

Hydroponics systems can either be liquid or aggregate. Liquid systems have no supporting medium for the plant roots, whereas aggregate systems have a solid medium for support. Hydroponic systems consist of diverse types of inputs, apart from the equipment utilized in the same. These inputs are categorized into two cases, namely, nutrients and mediums. There are two major types of nutrients used in hydroponics: micronutrients and macronutrients. Macronutrients accounted for the bulk of the share of nutrients used in hydroponic systems. The growth mediums include rock wool, grow rock, perlite & vermiculite, coconut fiber, oasis cubes, and floral foam. Rock wool is the most popularly used growth media in hydroponics.

Complete report on Hydroponics Market spread across 115 pages, profiling 16 companies and supported with tables and figures. Inquire for more at https://www.orianresearch.com/enquiry-before-buying/396043

Europe is considered the biggest market as it highly adopts hydroponic smart greenhouse horticulture. The European market is dominated by the countries such as France, Netherlands, and Spain. Asia Pacific emerged as the second biggest market for hydroponics and is expected to rise at a substantial pace. This method of farming is a niche segment gaining popularity in urban, customized agriculture setup. Companies are mainly focusing on launching new products and facilities by investing in R&D activities. Partnerships and agreements with regional actors are being taken out to extend the global presence by companies.

The key players in Hydroponics Market include Argus Control Systems, Koninklijke Philips, Logics B.V, Lumigrow, Heliospectra, General Hydroponics, Thanet Earth, American Hydroponics, and Greentech Agra mainly focus on launching new products and facilities by improving its research & development activities.

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In 2017 Greengro Technologies one of the fastest developing companies in the emerging indoor agriculture technology industry, declared that its majority-owned subsidiary Biodynamics, LLC, Akron, Ohio, has been granted a contract to sell a branded photovoltaic (PV) solar glass hydroponic vegetable greenhouse as part of a USD 17 million purchase agreement with the GH Farms Group, LLC, an Ohio-based greenhouse company.

Scotts Miracle-Gro continues its expansion in the market for commercial hydroponics. Later on the acquisition of Gavita in June 2016, Scott's hydroponic subsidiary Hawthorne now has acquired Agrolux, another major Dutch greenhouse supplemental lighting manufacturer. In 2015, Hawthorne acquired California based General Hydroponics for about USD 130 million, at that time named Scotts' biggest acquisition of the last 16 years

Table of Content
1 Executive Summary
2 Demographic Overview
3 Research Methodology
4 Premium Insights
5 Market Overview
6 Market Factor Analysis
7 Global Hydroponics Market By Application
8 Global Hydroponics Market By Type
9 Global Hydroponics Market By Soy Additives
10 Global Hydroponics Market By Application
11 Global Market Hydroponics Market Analysis By Region
12 Market Trends & competitive Analysis
13 Company Profiles

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