Asia Pacific Hydroponics Market Size, Share & Industry Trends Analysis Report By Type, By Crops (Tomatoes, Lettuce, Peppers, Cucumbers, Herbs, Fruits, and Others), By Country and Growth Forecast, 2021 - 2027
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Market Report Description
The Asia Pacific Hydroponics Market would witness market growth of 19.7% CAGR during the forecast period (2021-2027).
Hydroponic farming techniques are becoming more popular as soil-grown crops become more difficult to cultivate. This can also be linked to the commercial hydroponics industry's increasing success rates in recent years. Businesses are conducting research and development to minimise the cost of this technology. The growing popularity of exotic vegetables and salads is helping to propel the worldwide hydroponics business forward.
Salad crops are also becoming more popular, and the growing demand for food security could propel worldwide market development. The key reason propelling the growth of the worldwide Hydroponics Market is changing inclinations for Hydroponics as a profit farming method. There are several constraints and hurdles that will stifle overall market expansion.
The vertical farming sector is expected to grow substantially in the near future, as there is a growing demand for organic foods. Furthermore, because these farms are made up of vertically stacked structures, they require less land and building activity. Furthermore, it reduces the amount of machine intervention necessary in traditional farming.
Vertical farms located within a building may produce a significant quantity of veggies for a large client base, increasing the segment's income. Furthermore, the building-based construction can support a wide range of crops, which helps to reduce cultivation costs due to economies of scale. In Japan, China, and other Asian nations, the building-based agricultural structure is widely adopted. Due to significant investments in new building-based farm sites, it is also considered one of the fastest-growing revenue areas.
Companies such as AeroFarms, Badia Farms, and Plenty Unlimited Inc. have the world's largest building-based vertical farms, and many more are planning to invest heavily in building-based large-scale farms. When compared to traditional outdoor agriculture, these farm owners mostly employ aeroponics to produce crops, resulting in a 90% reduction in water use.
The China market dominated the Asia Pacific Hydroponics Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,171.3 million by 2027. The Japan market is estimated to grow at a CAGR of 19% during (2021 - 2027). Additionally, The India market would witness a CAGR of 20.6% during (2021 - 2027).
Based on Type, the market is segmented into Aggregate Systems and Liquid Systems. Based on Crops, the market is segmented into Tomatoes, Lettuce, Peppers, Cucumbers, Herbs, Fruits, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Argus Control Systems Limited, The Scotts Miracle-Gro Company, American Hydroponics, LumiGrow, Inc., Emerald Harvest, Hydroponic Systems International, Hydrofarm Holdings Group, Inc., HydroGarden Ltd., Signify N.V., and Heliospectra AB.
Scope of the Study
Market Segments Covered in the Report:
- Aggregate Systems and
- Liquid Systems
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Argus Control Systems Limited
- The Scotts Miracle-Gro Company
- American Hydroponics
- LumiGrow, Inc.
- Emerald Harvest
- Hydroponic Systems International
- Hydrofarm Holdings Group, Inc.
- HydroGarden Ltd.
- Signify N.V.
- Heliospectra AB
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