New York, NY -- (SBWire) -- 10/06/2020 --The global hydroponics market accounted for over US$ 7.6 (estimated) billion in 2019. It is anticipated to grow at a CAGR of 11.6% from 2019 to 2030.
The consistent growth of the market can be attributed to several factors such as, higher yield as compared to conventional agricultural practices and hydroponic systems that help in the conservation of natural resources. Moreover, hydroponic systems are anticipated to further contribute to the substantial growth of the hydroponics market globally between 2019 and 2030.The main principle behind the said plant-growing culture is to enable the plant roots to directly communicate with the nutrient solution, while interfering and having access to oxygen, which is extremely important for ideal growth of plants. There are several benefits of hydroponics, one of which is the amplified rate of the plants growth. If hydroponics is installed rightly, the plants will grow at increased rate of 25% faster and will produce 30% more than the plants grown in soil.
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Growing Factors:
Hydroponics results in higher yield as compared to conventional agricultural practices. To feed the growing population, the productivity of food crops must be increased within an existing land through alternative farming techniques. According to the United Nation's report on the worldwide population, plants in the hydroponic system have 20–25% higher yields than a soil-based system with productivity of 2–5 times higher.
Various complications associated with hydroponics farming are affecting market growth to a certain extent. Several complications, such as the lack of government policy & tax breaks in developing countries and high capital investments involved in large-scale farms, are few of the major restraints for the market. Hydroponic farming will play a pivotal role in improving food safety in developing countries.. In developing regions the high set-up costs for hydroponic farming can often render operational unfeasibility.
Segmentation Based On:
Hydroponics Market by Type -
1.Aggregate systems
2.Liquid systems
Hydroponics by Equipment & Input -
1.HVAC,
2.Led Grow Light,
3.Irrigation Systems,
4.Material Handling,
5.Control Systems
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Research objectives:-
- To study and analyze the global Hydroponics Market consumption (value & volume) by key regions/countries, product type and application, history data.
- To understand the structure of the Hydroponics Market by identifying its various sub-segments.
- Focuses on the key global Hydroponics Market manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
- To analyze the Hydroponics Market with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Regional Analysis:
Europe is estimated to grow at the highest CAGR during the forecast period owing to application of advanced techniques of hydroponic in smart greenhouse horticulture. For instance, Netherlands, Spain, and France have large areas under greenhouse cultivation which have played a crucial role in contributing to the demand for hydroponics market in this region. Moreover, as consumers are getting conscious of the standard differences in greenhouse-grown vegetables and conventional vegetables, the demand for hydroponics farming is increasing. Such factors are anticipated to present a lucrative growth scenario for the hydroponics market in this region.
Table of Contents
1. INTRODUCTION
1. Market Definition
2. Market Classification
3. Geographic Scope
4. Years Considered for the Study: Historical Years – 2016 & 2017; Base Year – 2018; Forecast Years – 2019 to 2030
5. Currency Used
2. RESEARCH METHODOLOGY
1. Research Framework
2. Data Collection Technique
3. Data Sources
1. Secondary Sources
2. Primary Sources
4. Market Estimation Methodology
1. Bottom Up Approach
2. Top Down Approach
5. Data Validation and Triangulation
1. Market Forecast Model
2. Limitations/Assumptions of the Study
3. ABSTRACT OF THE STUDY
4. MARKET DYNAMICS ASSESSMENT
1. Overview
2. Drivers
3. Barriers/Challenges
4. Opportunities
5. UNIQUE SELLING PROPOSITIONS (USPs)
1. Technological Advancements
2. Major Yield Crop type Assessment
3. Key Players & Their Competitive Positioning (2018)
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Hydroponics Market 2020 – Impact of COVID-19, Future Growth Analysis and Challenges by 2030
Hydroponics is a modern technique of growing plants in a nutrient-rich and water-based solution. Hydroponics eliminates the use of soil, instead makes use of the root system that is supported with the help of an inert medium, including perlite, clay pellets, rockwool, vermiculite, or peat moss.