(Food-Beverage-News.Com, November 15, 2017 ) The Global Hydroponics Market was worth USD 212.3 million in 2016 and is expected to reach USD 461.6 million by 2021 with a CAGR of 16.8 %.
Hydroponics is a soilless cultivating technique used to create high return crops. It is a part of hydroculture, which utilizes mineral arrangements and supplements to develop different plants. Hydroponics utilizes two fundamental mediums to develop crops and they are selection culture and strong medium culture. This strategy is a compelling substitute, which defeats the defects of typical agribusiness method to a superior degree.
Hydroponics gives higher yield compared with conventional agricultural techniques. It additionally gives farmers the advantage to develop crops in regions that can't support crops in soil. Moreover, hydroponics removes the use of counterfeit maturing operators and pesticides, which helps in making nutritiously superior vegetable items. These are some of the major factors driving the market. Lack of awareness about the hydroponic agriculture system and high investment required are some of the factors restraining the market growth to an extent.
Hydroponics Market is segmented based on Equipment, Type, Crop Type and Input Type. Based on Equipment, market is segmented into HVAC, LED Grow Light, Communication Technology, Irrigation Systems, Material Handling, and Control Systems. Based on Type, market is segmented into Aggregate & Liquid. Based on Crop Type, market is further segmented into Tomato, Lettuce & Leafy Vegetables, Cucumber, Pepper & Strawberry. Based on Input type, market is further segmented into Nutrients, Growth Medium. On the basis of Aggregate hydroponics systems, market is further segmented into Closed Systems, Open Systems. Based on Liquid Hydroponic systems, market is segmented into Nutrient Film Technique (NFT), Floating Hydroponics, and Aeroponics. On the basis of Closed systems, market is further segmented into The Water Culture System, The EBB and Flow System, Drip Systems, and The Wick System. HVAC has the largest market share, followed by LED grow lights, in 2014. HVAC is dominating the market as heating, ventilation, and air-conditioning are the major elements required to create a controlled environment for hydroponic cultivation.
Geographically, market is further segmented into Asia-Pacific, Europe, Latin America, Middle East and Africa, and North America. Europe dominates the global market with the highest share while North America is projected to be the fastest growing market during the forecast period.
Major Players dominating the market are: • Argus Control Systems • Koninklijke Philips NV • Greentech Agro LLC • Logiqs B.V. • Lumigrow, Inc. • General Hydroponics, Inc.
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