Hydroponics Market Analysis and Growth Forecast by Regions and Applications to 2023

Posted on 2020-07-03 by researchinsights in Agriculture // 0 Comments

03rd July 2020 – The global Hydroponics Market is estimated to witness substantial growth in the forecast period owing to increased consumer preference due to factors, such as soil-less farming, less water requirement and use of mineral nutrient solutions. Hydroponics is the technique of growing plants without soil and with a water solvent containing mineral nutrient solution. It is an easy way of farming since it does not require soil or any maintenance.

The plants are inserted in the perfectly balanced soluble water that allows plant to absorb nutrients with minimum efforts as compared to the soil. In hydroponics, the energy used by the roots is better spend on the production and growth of flowers and fruits. In comparison to the soil plants, hydroponic plants grow faster and better, due to which they are widely adopted for commercial farming and indoor farming in urban areas.

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Factors influencing the growth of hydroponics market are better production of plants as compared to the soil production, increase in consumption of exotic and salad crops, growing need for food security, and increasing adoption of vertical farming technology. Furthermore, new product launches and huge spending on the research and development activities is expected to fuel the hydroponics market. However, huge initial investment and low awareness for hydroponics are hampering the market growth.

Increasing focus of leading players on adopting this technique and enhancing production of crops is trending in the market. Nonetheless, growing emphasis on customized farming approach and production of medicinal plants is an opportunity for the market.

DeWitt Clinton High School, New York, US owns a fully functional hydroponic laboratory. They use LED lighting for the chlorophyll growth and the lab produces different types of plants without using soil. Brandon Weinberg, one of the professors at the school feels that laboratory is the best place to teach environment and sustainability to students, for them to explore things and giving them opportunity for experiments. Teens for Food Justice, a non-profit organization in New York is aimed at offering universal access to healthiest foods. They teach good health practices and agricultural skills to children and also work in association with Clinton School.

The hydroponics lab at the school was developed in a couple of years but has been operating well since 2017. Though school, fruits of children’s labor aren’t tasted by them but also others. In the coming year, they are expecting the growth of the garden up to 25,000 pounds of food variety.

Key Players Analysis covered in these report

AMCO Produce
Eden Farms
Hollandia Produce
Bright Farms
Soave Enterprises
Village Farms International
Platinum Produce Company
Millennium Pacific Greenhouses
Emirates Hydroponics Farms
Thanet Earth

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Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Hydroponics in these regions, from 2012 to 2023 (forecast), covering

North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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