Significant Growth in Organic Food Demand Drives the Hydroponics Market

The overall hydroponics system market is projected to grow from USD 8.1 billion in 2019 to USD 16.0 billion by 2025, at a CAGR of 12.1%. Hydroponic systems provide higher yield compared to traditional agricultural techniques, owing to the increase in harvest cycles. Furthermore, hydroponic systems eliminate the use of artificial ripening agents and pesticides, which helps in creating nutritionally superior vegetable products. The market for hydroponics is fragmented at the global level, with multiple innovative start-ups and emerging companies entering the hydroponics market. Major companies have been trying to enter this space, either by developing hydroponic components or by investing in the technology for crop cultivation.

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Higher yield as compared to conventional agriculture practices

According to the FAO, due to the increasing population, food production is expected to rise by 70% before 2050. On the other hand, natural prerequisites of agriculture, viz., arable land and water have been depleting, with rapid urbanization across the globe. To feed the increasing population, the productivity of food crops needs to be increased in the existing arable land, and also alternative farming techniques such as urban farming need to be encouraged.

Hydroponic systems or soil-less agriculture reduce the farmer's consumption of resources, thereby enabling this farming technique to be adopted by a large number of stakeholders, ranging from home gardeners to professional growers, and supermarkets to restaurants. According to the UN reports on global population, plants grown in hydroponic systems have achieved 20%-25% higher yield than the traditional agriculture system, with its productivity being 2-5 times higher. Also, owing to controlled environmental conditions, the effect of climatic changes can be balanced with the help of these systems, thereby not affecting the annual crop production. CEH techniques directly affect the crop harvest cycle; hence, for hydroponic systems, crop harvest cycles are shorter in comparison to traditional farming techniques, thereby increasing the annual yield. Also, since climatic changes show a minimal effect on such systems, crops can be produced all year round, thereby again increasing the produce.

Spread of waterborne diseases and algae in closed systems

One of the key advantages of growing plants hydroponically is the lack of soil-borne diseases and pests; however, in a closed hydroponic system, the threat of waterborne diseases poses a major problem to growers. Considering that the nutrient-enriched water is recirculated throughout the system, any kind of waterborne disease that enters the nutrient reservoir often affects the whole crop as it has the capability to spread throughout. Growers often keep their plants spaced out to prevent crowding, which is often how pathogens enter the system.

The modulation of internal temperatures is also a crucial step as heat and moisture in an irrigation system if left untreated can result in the formation of molds and algae, which can draw nutrients from the water, thereby leaving little for plants, thereby affecting the crops in the process. To combat the instances of waterborne diseases, growers are resorting to using screen or paper filters and additional filtration systems to curb the spread of waterborne diseases in the system. Other safety measures included in systems include a rapid flush system to drain the water from the crops and prevent the spread of any pathogens.

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Europe is projected to dominate the hydroponics market by 2025.

The hydroponics market in Europe is projected to witness significant growth during the forecast period due to the growing adoption of CEA for horticultural crops and increasing development of new innovative technologies that target specific crop needs. The adoption of hydroponics has been the highest in the Netherlands, followed by Spain and Turkey. According to industry experts, almost 90% of the greenhouses in the Netherlands are converted to hydroponic structures, and a majority of this area is used for flower and vegetable cultivation. Though the area under cover is high in Spain, Italy, and France, the adoption of hydroponics across these greenhouses is not more than 20% in these countries, thereby providing fair growth potential for this region.

This report includes a study of the development strategies, along with the product portfolios of leading companies. It also includes the profiles of input providers such as Signify Holdings (Netherlands), Argus Control Systems (Canada), Heliospectra AB (Sweden), Scotts Miracle Gro (US), American Hydroponics (US), and LumiGrow (US). It also includes the profiles of crop producers such as Aerofarms (US), Terra Tech Corp (US), Emirates Hydroponic Farms (UAE), Triton Foodworks Ltd. (India), Urban cultivator (Canada), Village Farms (Canada), Green Sense Holdings (US), Iron Ox (US), Gracia Farms (UAE), Bright Farms (US), Freight Farms (US), Eurofresh (US), and Letcetra Agritech (India).

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