Hydroponics Market Global Trend, Demand, Scope, Growth Analysis and Industry Forecast 2020 -2027

Market Size – USD 1.68 Billion in 2019, Market Growth – CAGR of 22.7%, Market Trends Increasing use of hydroponics for cannabis production.

The growth in the world’s population has presented a significant demand for food across the planet. According to the Food and Agriculture Organization of the United Nations (FAO), the population is predicted to rise from 9.1 billion to 22.1 billion by 2050. The food production will extend between 27% to 72%. As a consequence, it is expected that this will continue to drive demand for alternative farming technologies and will add impetus to hydroponics market growth.

All of the segments studied in the research study are analyzed on the basis of BPS, market share, revenue, and other important factors. Our research study shows how different segments are contributing to the growth of the global Hydroponics market.

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Key participants include AMHYDRO (U.S.), Argus Control Systems Limited (Canada), AeroFarms (U.S.), Green Sense Farms Holdings, Inc. (U.S.), Heliospectra AB (Sweden), Emirates Hydroponics Farms (UAE), LumiGrow (U.S.), Signify Holding (the Netherlands) Terra Tech Corp (U.S.) and Freight Farms (U.S.)

Hydroponics Market Drivers

The global hydroponics market was valued at USD 1.68 billion at the beginning of 2019 and is anticipated to reach USD 8.64 billion by 2027 at a CAGR of 22.7%. The growth of hydroponics is due to its widespread use among indoor growers of vegetables. In addition, the adoption of other farming methods for cannabis cultivation is rapidly rising, as a result of the legalization of marijuana in countries like Canada, European country, South Africa, and others. Another factor driving the industry is the increasing awareness among consumers about the effects of artificial ripening agents and pesticides on their health, which is expected to increase the demand for hydroponics. Given its low cost and ease of use, hydroponics gains popularity in the near future.

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Hydroponics Market: Regional Outlook

North America hydroponics market holds promise for growth due to regional firms. In 2019, APAC dominated the global market with its substantial adoption of tank farming in China, Australia, Republic of Korea, and alternative markets. Europe will have the third-largest market share in 2019 due to high adoption of tank farming by industry and inadequate land.

Type Movement Outlook (Revenue, USD Billion; 2017-2027)

Aggregate Systems

Liquid Systems

Crop Movement Outlook (Revenue, USD Billion; 2017-2027)

Tomatoes

Lettuce

Peppers

Cucumbers

Herbs

Others

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