Technology is used to grow crop production without soil and nutrient-rich solutions. Plants are grown in the mineral nutrient solution and soil-less conditions known as hydroponics.
Sarasota, FL -- (SBWIRE) -- 06/22/2017 -- Zion Market Research, the market research group announced the analysis report titled "Hydroponics Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"
Global Hydroponics Market: Overview
Technology is used to grow crop production without soil and nutrient-rich solutions. Plants are grown in the mineral nutrient solution and soil-less conditions known as hydroponics. Traditionally, crops were grown in a particular climate condition but in hydroponics, they are grown in the controlled environment system. Hydroponics uses two methods to grow crops as solid medium culture and solution culture. However, solution culture is gaining popularity across the world.
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Global Hydroponics Market: Growth Factors
The hydroponic industry is experiencing a higher growth as compared to traditional agricultural techniques; this is a major factor of the global hydroponics market. Salad crops are gaining popularity and increasing need for food security may drive the global market growth. Changing preferences of people for hydroponics as profit farming is primary factor impelling the growth of the global market. Moreover, growing focus on the cultivation of medicinal plants and customized farming approach is anticipated to offer new growth opportunity for the industry. Companies are focusing on enhancing the crop production by acceptance of hydroponics method. Moreover, large spending in R&D activities and new product launches may expand the market. Conversely, lack of awareness regarding hydroponics and huge initial investment may hamper the global market growth to some extent.
Global Hydroponics Market: Segmentation
The global hydroponics market is categorized based on crop type as strawberry, lettuce & leafy greens, tomato, pepper, cucumber, and others. Based on input type, the global market is divided as growth medium and nutrients. The nutrients segment is sub-segmented as micronutrients, and macronutrients. However, the growth medium is further sub-segmented as perlite & vermiculite, rock wool, coco fiber, grow rocks, and others. Moreover, the global market is fragmented based on type as liquid hydroponic systems, and aggregate hydroponic systems. The liquid hydroponic system is further sub-segmented as floating hydroponics, nutrient film technique, and aeroponics. Furthermore, the global hydroponics market is segregated on the basis of equipment as irrigation systems, HVAC, control systems, communication technology, LED grow light, material handling, and others.
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Global Hydroponics Market: Regional Analysis
Traditionally, Europe is considered the largest market as it highly adopts hydroponic smart greenhouse horticulture. The European market is dominated by the countries such as France, Netherlands, and Spain. Asia Pacific emerges as the second largest market for hydroponics and is anticipated to grow at a significant rate. North America is the major consumer of the hydroponics where it is followed by Canada and the United States.
Global Hydroponics Market: Competitive Players
Major players operating in the global hydroponics market are Thanet Earth, Pegasus Agritech, Growlife, Lumigrow, Inc., Koninklijke Philips NV, Hydrodynamics International, Inc., General Hydroponics, Inc., Circle Fresh Farms, KUBO Greenhouse Projects, and HortiMaX. Other players include Terra Tech, James foskett farms, Valoya, Village farms international, FormFlex, Hydrofarm, Inc., Logiqs B.V., BrightFarms, American Hydroponics, Inc., Greentech Agro, Llc, Argus Controls, Heliospectra AB, and FormFlex.
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Global Hydroponics Market: Regional Segment Analysis
North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa