Scotts Miracle-Gro (US) and AeroFarms (US) are the Leading Players in the Hydroponics Market

Hydroponic systems provide higher yield compared to traditional agricultural techniques, owing to the increase in harvest cycles.

(EMAILWIRE.COM, July 03, 2019 ) The hydroponics market is estimated to be valued at USD 8.1 billion in 2019 and is projected to reach USD 16.0 billion by 2025, at a CAGR of 12.1% during the forecast period. The growth of the hydroponics market is driven by factors such as the need to ensure food security for the increasing population through alternative high-yield farming techniques.

Signify holding (Netherlands) is the world leader in LED and conventional lighting; it was divested from Philips Koninklijke in 2016. Signify Holdings is one of the leading players in the field of LED grow light technology and is used widely in the hydroponics market. The company offers the product through various brands such as Philips, Interact, Modular Lighting Instruments, Luceplan, and Colorkinetics. Signify Holdings mainly focuses on launching new products, such as the new GreenPower toplight range of LEDs, along with the upgraded versions, which are ideal for hydroponic smart greenhouses. It also entered into partnerships and signed agreements with a host of companies across the globe to expand its global presence and cater to more customers from the hydroponics industry. Recently, in April 2019, the company entered into a strategic partnership with Prime Delica (Japan), which helped the company to strengthen its business in Japan. In 2018, Signify launched the LED top lighting product in the European and North American markets.

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Scotts Miracle-Gro (US) is one of the leading players of branded products such as lawns, gardens, pest & weed control, and hydroponics. The company has been engaged with the hydroponics market through various brands, such as General Hydroponics, Botanicare, Ermicrop Organics, Aerogarden, Aerolux, Mother’s Earth, Growers Edge, GroPro, Sun System, Gavita, Can Filters, and Hurricane, who are premium hydroponic growers. The company offers a wide range of system input components, ranging from lighting solutions to nutrient and grow media. The company majorly relies on inorganic strategies, primarily acquisitions, to expand its consumer base. For instance, in 2018, Hawthorne, one of the business segments of Scotts Miracle-Gro, acquired Sunlight Supply (US), one of the leading manufacturers and distributors of horticulture, organics, lighting, and hydroponics products, at USD 459.1 million.

AeroFarms (US) builds large indoor vertical farms for baby leafy greens and herbs based on annual growing production. The company has its major expansion focus restricted to the US. The company’s products are locally grown with unmatched freshness, flavors, and extensive varieties, and are of high-quality. It holds a significant market experience of over 14 years in aeroponics. Moreover, the company sells its farming technology and systems in both the domestic and international markets, which helps the farmers grow pristine products. The company has been gradually expanding its footprints; for instance, the company built the world’s largest vertical farm in New Jersey, US, which has an area of 70,000 sq. ft., and is the company’s new headquarters.

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