Published Date: 31-Mar-2022
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According to a new report, published by KBV research, The Global Hydroponics Market size is expected to reach $13.4 billion by 2027, rising at a market growth of 19.2% CAGR during the forecast period.
The Liquid Systems segment is showcasing a CAGR of 20.8% during (2021 - 2027). Lettuce and other green vegetables are increasingly being grown using deep-water culture and Nutrient Film Technique (NFT) systems. The usage of a solid medium is eliminated in liquid systems, and the roots are immediately soaked in the nutrient solution, making the growth process easier. Furthermore, because nutrients are sent directly to a plant's roots, liquid systems speed up growth, resulting in higher yields.
The Tomatoes segment acquired the maximum revenue share in the Global Hydroponics Market by Crops Type 2020, thereby, achieving a market value of $5,007 million by 2027. Tomatoes are the most widely hydroponically produced crops in the world, owing to their quicker growth rate and lower water requirements than conventionally farmed tomatoes. For tomato hydroponic production, the indoor farmers employ perlite, rock wool, or coconut coir as growth materials. By 2028, the hydroponic technology is expected to be used to grow the largest number of tomatoes in Europe and Asia Pacific.
The Europe is fastest growing region in the Global Hydroponics Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4.8 billion by 2027. The North America market is poised to grow at a CAGR of 18.4% during (2021 - 2027). Additionally, The Asia Pacific market would exhibit a CAGR of 19.7% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/hydroponics-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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