Increasing Adoption of Greenhouse Horticulture Supports the Growth of the Hydroponics Market

The key players in the hydroponic system input providers market include Signify Holdings (Netherlands), Argus Control Systems (Canada), Heliospectra AB (Sweden), Scotts Miracle Gro (US) etc.

(EMAILWIRE.COM, September 17, 2019 ) The increasing population and urbanization have led to a decline in the arable land, globally. According to the United Nations Department of Economic and Social Affairs, about 55% of the world’s population lives in urban areas as of 2018, and that figure is expected to grow to 68% by 2050. Considering the overall growth in population, up to 2.5 billion additional people are expected to be added to urban areas by 2050. Hydroponics is the technique of growing plants with water and nutrients without the use of soil. This technique makes use of containers or specially designed benches with troughs to enable the suspension of plants in water. 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.

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The liquid hydroponics systems segment is projected to have the fastest growth rate during the forecast period. In this system, no rigid supporting medium for the plant roots is used. Liquid hydroponic systems can be effective for fast growth and large yield since plants have direct access to oxygen and food in the form of functional mineral compound. These systems are most preferred in the developed countries for crop production and have huge growth potential in the future. Moreover, systems such as DWC and NFT have been studied for application in hybrid farming, combining aquaculture with hydroponics. Being compact in structure, these systems can be easily stacked vertically to support a vertical farming system.

The fruits segment is projected to have the fastest growth rate among other crop types in the hydroponics market. Fruits grown using hydroponics can be grown and harvested throughout the year due to the interior conditions of the greenhouse or indoor farming unit. Water-adaptable fruits such as watermelon, strawberries, cantaloupe, and tomatoes are among the ideal choice of farmers, as they are easier to grow using hydroponic methods. Hydroponics for fruits is majorly used in North American and European countries. Since these fruits have a high market value, farmers are inclined to increase the production of these type of fruits using advanced agriculture technology such as hydroponics, to increase their profit margin.

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The Asia Pacific hydroponics market has strong potential to become the leading market in the coming years. The region has also been susceptible to the effects of climate change that have had a profound impact on agriculture produce. The increasing instances of droughts, floods, and other natural disasters in countries such as India, China, and Japan have raised concerns over food security. This has spurred the adoption of indoor hydroponic agriculture in the region. China is projected to be the fastest-growing market for hydroponic farming in the region and has displayed notable growth potential. Not only in Asia Pacific but globally has the growth in hydroponics market been observed, with the increasing investments in this market. For instance, Larry Ellison, the founder, chairman, and CTO of Oracle, launched a hydroponic farming start-up named Sensei in Los Angeles, which plans to build 10 greenhouses covering 200,000 square feet on the Hawaiian island of Lanai. Also, Future Farms based in Chennai, India, has developed effective and accessible farming kits to facilitate hydroponics. Also, there are new technological innovations tapped by start-ups that can further propel the growth of this market.