Hydroponics Market Scope
Hydroponics is a technique that allows farmers to grow crops using up to 90 percent less water than traditional agriculture. With this method, plants do not need soil. They get the nutrients they need from special solutions and develop up to twice as fast as in conventional farming. It is a growing area of commercial food production and also is used for home food production by hobbyists. Moreover, in desert regions where water resources are limited, the hydroponics farming technique is gaining huge momentum and expected to grow its demand with a significant CAGR during the upcoming years.
The hydroponics market features a competitive landscape with numerous players vying for market share. Companies within this industry offer a range of hydroponic systems, technologies, and solutions for efficient plant cultivation. The competition is driven by factors such as system design, performance, scalability, ease of use, and cost-effectiveness. Established manufacturers, start-ups, and research institutions all contribute to the diversity of the hydroponics market. Strategic partnerships, collaborations, and technological advancements are common strategies employed by companies to gain a competitive edge. The competitive nature of the hydroponics industry fuels innovation and offers customers a wide array of options for their hydroponic farming needs. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Hydroponics market throughout the predicted period.
Bright Farms (United States), Circle Fresh Farms (United States), Hydrodynamics International Inc. (United States), Growlife (United States), Village Farms International Inc. (United States), Pegasus Agritech (United Arab Emirates), Argos Controls (Canada), Hortisystems UK Ltd. (United Kingdom), Kubo Group (Netherlands), GreenTech Agro LLC (United States), Heliospectra AB (Sweden), American Hydroponics, Inc. (United States) and Lumigrow Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are General Hydroponics Inc. (United States), Growlife (United States), Thanet Earth (United Kingdom), FormFlex (United States) and Valoya (Finland).
Segmentation Overview
The study have segmented the market of Global Hydroponics market by Type (Aggregate Systems {Ebb & Flow Systems, Drip Systems, Wick Systems} and Liquid Systems {Deep Water Culture, Nutrient Film Technique, Aeroponics}) and Region with country level break-up.
On the basis of geography, the market of Hydroponics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Development of Innovative Hydroponic Technologies
Market Growth Drivers:
Growing Demand for Food Production Coupled with Population, Higher Yield As Compared To Conventional Agriculture Practices and Limited Availability of Farming Lands
Challenges:
Setting up a hydroponic system can require a significant initial investment
Restraints:
High Capital Investment for Large-Scale Farms and Lack Of Government Policy and Tax Breaks In Developing Countries
Opportunities:
Increasing Application of Hydroponic Systems in Restaurants and Grocery Stores and Upsurging Demand from Desert Areas
Market Leaders and their Expansionary Development Strategies
In April 2023, AYR Wellness Inc., a prominent vertically integrated U.S. multi-state cannabis operator (MSO), acquired Tahoe Hydroponics Company, LLC (Tahoe Hydro). Tahoe Hydro, an acclaimed cultivator and one of Nevada's leading producers of high-quality cannabis flowers, is now part of the AYR portfolio. This acquisition strengthens AYR's position in the Nevada cannabis market and aligns with the company's commitment to delivering top-tier cannabis products to its customers.
On 10th Jan 2020, Hydrofarm Holdings Group, Inc., a leading independent wholesaler and manufacturer of hydroponics equipment and commercial horticultural products, announced a strategic partnership with Argus Control Systems Ltd. to provide advanced environmental systems and services for horticultural production in the United States and Canada.
Key Target Audience
Hydroponics Input Provider Companies, Hydroponics Crop Producer Companies, Regulatory & Government Bodies, Potential Investors, Regulatory & Government Bodies, End Users and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.