DUBLIN, Sept. 17, 2021 /PRNewswire/ — The “Hydroponics Market Report 2021” report has been added to ResearchAndMarkets.com’s offering.
Global Hydroponics Market is estimated to reach US$ 19.08 Billion by 2027 from $10.3 Billion in 2020, growing with a CAGR of 9.21% by 2020-2027.
The growing need for exotic vegetables such as tomatoes, lettuce, peppers, cucumbers, herbs, and others used in intercontinental cuisines is a prime factor driving the global Hydroponics Market.
Besides, the increasing awareness among the consumers of eating fresh vegetables is also expected to fuel the market in the future. The demand for exotic vegetables like tomatoes and red lettuce in food and retail chains like Burger King and KFC is anticipated to boost sales during the forecast period.
Based on Technology
Heating Ventilation & Air Conditioning (HVAC) plays a vital role in the development of indoor growers; to control the climate, hardware components such as climate control systems and lighting systems are essential. Further, the HVAC costs less than other technology like Irrigation systems, Led Grow Lights, Aeration systems and utilities that go into hydroponics.
Region-wise Growth for Hydroponics Market Size
Worldwide, North America and Europe hold the largest market share; factors such as Europe has traditionally been at the front of implementing advanced techniques in hydroponic innovative greenhouse horticulture. Countries such as France, Netherlands and Spain have large areas under greenhouse cultivation. In the United States, enhancing demand for hydroponics and rising need for food and higher yield than traditional agricultural methods factors driving the hydroponics industry.
Moreover, the rise in the consumption of exotic vegetables is adding value to the United States hydroponics market.
The COVID- 19 pandemics has made it necessary to understand the importance of adequate nutrition to boost immunity, maximize health, and decrease the risk and impact of the virus. Having a strong and resilient immune system is a demand for hydroponics farming. Thus, the destructive aftermath of the pandemic should be a catalyst to expand taste, knowledge and awareness and contribute to the adoption of hydroponics for a sustainable food system globally.
Companies Initiatives in Hydroponics Industry
The world is witnessing an increased adoption of hydroponics globally. Many companies such as Signify Holding, Village Farms, Argus Control Systems Limited, Emirates Hydroponics Farms, Terra Tech Corp are investing massively into R&D for achieving state-of-art technologies that boost the productions and bring about a variety of cultivations possible.
In 2019, Argus Control Systems Ltd partnered with Hydrofarm Holdings Group Inc. to provide exceptional environmental systems and services for horticultural production in the United States and Canada.
Key Topics Covered:
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Key Challenges
5. Global Hydroponics Market
6. Market Share Analysis
6.1 By Type
6.2 By Input
6.3 By Crops
6.4 By Technology
6.5 By Region
7. Type – Global Hydroponics Market
8. Input – Global Hydroponics Market
8.2 Growth Medium
9. Crops – Global Hydroponics Market
10. Technology – Global Hydroponics Market
10.1 Led Grow Lights
10.3 Irrigation System
10.4 Aeration System
11. Region – Global Hydroponics Market
11.1 North America
11.3 Asia Pacific
11.4 south America
11.5 Middle East & Africa
12. Company Analysis
12.2 Recent Developments
For more information about this report visit https://www.researchandmarkets.com/r/a9ctol
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SOURCE Research and Markets