Hydroponics Market Outlook 2023 - Hydrofarm Inc, Lumigrow Inc., Argus Control Systems Ltd., General Hydroponics Inc., Hydrodynamics International Inc

Hydroponics is termed as subset of hydroculture, one of the fastest-growing soil-less farming practice at a global level, using mineral nutrient solutions, in water without soil. Hydroponic plant grows 3050% faster as compared to a soil plant, when grown under same conditions. The nutrients in a hydroponic system are treated with water and sent to the root system. Moreover, hydroponic gardening requires less water than soil gardening as they constantly use nutrient solutions.

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This report projects the trends and opportunities of the global hydroponics market. This research study includes a qualitative and quantitative analysis with comprehensive research methodologies and reliable projections to understand the present overview and predict the market behavior during the forecast period. Our research teams have used various secondary resources and directories, such as industrial databases, journals, magazines, and primary resources coupled with industry oriented measures, which include industry-related expert interviews to obtain key information and valuables, which makes it an asset for players in the market.

Top Key Market Players in The Industry are:

• Hydrofarm Inc,
• Lumigrow Inc.
• Argus Control Systems Ltd.
• General Hydroponics Inc.
• Hydrodynamics International Inc
• Greentech Agro Inc.
• Heliospectra AB
• Logiqs B.V.
• Koninklijke Philips NV.

One of the major growth drivers for the hydroponic industry is the higher yield in comparison to traditional agricultural techniques. Rise in the consumption of exotic, salad crops and the need for global food security is expected to fuel the market. Lack of scientific knowledge regarding the soil-less agriculture system and high setup cost is predicted to restrain the market growth to some extent. However, increased cultivation of medicinal plants and changes in farming approach may provide future growth opportunities for the industry. In addition, with the employment of vertical farming technology, there is an increase in the lettuce yield per year, which in turn is expected to fuel the market growth.

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The global hydroponics market is segmented based on equipment, type, crop type, and geography. By equipment, the market is segmented into HVAC, LED grow light, irrigation systems, material handling, control systems, and other equipment. By type, the market is bifurcated into aggregate and liquid hydroponic system. Aggregate hydroponic system is further segmented into closed and open systems. By crop type, the market is categorized into tomato, lettuce, pepper, cucumber, and others (strawberry & herbs). Geographically, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

Hydroponics Market Key Segments:

By Equipment

• HVAC
• LED Grow Light
• Irrigation Systems
• Material Handling
• Control Systems
• Other Equipment

By Type

• Aggregate Hydroponic System
• Liquid Hydroponic Systems

By Crop Type

• Tomato
• Lettuce & Leafy Vegetables
• Pepper
• Cucumber
• Others (Strawberry and Herbs)

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