According to a new report published by KD Market Insights, titled, “Hydroponics Market Insights, Trends, Opportunity & Forecast, 2021–2026,” the global Top Treinds in hydroponics market size is anticipated to witness double digit growth during forecast period i.e. 2021-2026. The North American region is the fastest growing hydroponics market in terms of region due to the spurring demand for organically grown fresh vegetables & fruits and the increasing adoption of alternative farming techniques in the region.
The burgeoning difficulty of growing crops on soil, the ever-growing population leading to the growth in demand for food products, the reducing arable land area worldwide, the increasing awareness among consumers regarding the effects of pesticides on their health, the increasing government support and the bolstering demand for exotic fruits and vegetables are the primary factors contributing toward the growth of the market.
The European region holds the largest share and is further anticipated to maintain this trend over the next few years. The Asia-Pacific region holds the second largest share in the hydroponics market due to the augmenting population and the proliferating demand for pesticide free food in the region.
According to type, the liquid hydroponics segment is estimated to account for the highest market share. According to equipment, the HVAC system is estimated to occupy the largest market share during the forecast period. According to input, the nutrients segment is estimated to observe the fastest growth over the forecast period. According to crop type, the fruits segment is projected to grow at the fastest CAGR until 2026.
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The global hydroponics market is segmented into type, equipment, input, crop type, solution, farming type, distribution channel and region. Based on type, the market is bifurcated into aggregate system and liquid hydroponics. Aggregate system is further categorized into water culture system, EBB and flow system, drip system and others. Liquid hydroponics is further categorized into nutrient film technique, deep water culture, aeroponics, and others. Based on equipment, it is classified into HVAC, LED grow lights, irrigation systems, material handling, control systems and others. Based on input, it is classified into nutrients and rockwool. Nutrients segment is further categorized into NPK, trace minerals, grow media and others. Rockwool is further categorized into perlite & vermiculture, coco-fiber and others. Based on crop type, it is classified into vegetables, herbs & greens, fruits and flowers. Based on solution, it is classified into organic and in-organic. Organic segment is further categorized into bone meal, hoof/horn meal, fish meal, blood meal, cottonseed meal, dried locust or grasshopper, animal manure and others. In-organic segment is further categorized into macronutrients and micronutrients. Based on farming type, it is classified into indoor farming and outdoor farming. Based on distribution channel, it is classified into B2B and B2C. B2C segment is further categorized into modern trade, grocery stores, specialty stores, bulk suppliers & distributors and online retailers.
The global Hydroponics market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
Key Insights of Hydroponics Market
- On the basis of type, the liquid hydroponics segment is estimated to account for the largest market share.
- On the basis of equipment, the HVAC segment is estimated to occupy the largest market share during the forecast period.
- On the basis of input, the nutrients segment is estimated to observe the fastest growth over the forecast period.
- On the basis of region, the European region is predicted to maintain its dominance in the market over the forecast period.
Some of the major hydroponics companies profiled in the report include DS Group, Letectra Agritech Pvt Ltd., Hydrofarm Inc., Village Farms International Inc., Neoterra Farming Technologies Pvt Ltd., Argus Control Systems Ltd., Hortisystems UK Ltd., GreenTech Agro LLC, Kubo Group and Aerofarms.
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