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Hydroponics Market Size to Reach USD 30.07 Billion by 2028 | Rise in Population and High Demand for Exotic Fruits and Vegetables Across the Globe will be the Key Factor Driving the Industry Growth, States Emergen Research

Major companies operating in the global hydroponics market include AeroFarms, AMHYDRO; Argus Control Systems Limited; Emirates Hydroponics Farms; Freight Farms; Green Sense Farms Holdings, Inc.; Heliospectra AB; LumiGrow; Signify Holding; and Terra Tech Corp.

/EIN News/ -- Vancouver, British Columbia, Feb. 01, 2021 (GLOBE NEWSWIRE) -- The global hydroponics market is projected to reach a market size of USD 30.07 Billion by 2028 at a rapid and steady CAGR of 14.3%, over the forecast period, according to most recent analysis by Emergen Research. Hydroponics market is witnessing increased demand due to the growing pressure on agriculture industry for high-yielding farming techniques. The surge in population is creating a high demand for food across the globe. The world population in 2019 was approximately 7.7 billion and is expected to grow to 8.5 billion in 2030. This will create a demand for alternative farming technologies to increase the yield of the crops.

Adoption of hydroponics technology is encouraged by government and non-government organizations to benefit from food security. Hydroponics technology is environment-friendly, which is also driving the growth of the market. Hydroponics technology reduces the burden on natural resources such as water and land, as it needs little indoor space, and water used in the process can be reused and recycled.

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High cost of the hydroponic market will hinder the growth of the market. However, extensive research and development will reduce the cost of the whole procedure, which will provide growth opportunities for the hydroponics market. There is a growing demand for exotic fruits and vegetables due to increasing buying power of consumers. Several research institutions and universities are focused on development of hydroponics systems to fuel the production of these exotic products to meet the rising demand.

Key Highlights of Report

  • The aggregate system dominated the type segment in 2020 due to growing popularity of indoor hydroponic farmers due to ease in setup and inexpensive nature. This will drive the growth of the segment.
  • Tomatoes accounted for the largest share in crops segment in 2020. They are most hydroponically cultivated crops due to faster cultivation rate, and it requires less amount of water as compared to regular farmed tomatoes.
  • HVAC plays a crucial role in the development of indoor plants as it is responsible for maintaining the optimum temperature inside the indoor facility. Heating, Ventilation & Air Conditioning (HVAC) is crucial for hydroponic farms as it provides well-controlled and reliable equipment.
  • Europe accounted for the largest share in 2020 in regional segment. The European countries such as France, Spain, and Netherlands have a large greenhouse, which will propel the segment's growth. The climate in Sweden, Norway, Denmark, and Finland is quite extreme during winter that they try to use alternatives to traditional agricultural methods like hydroponics to grow crops. 
  • Major companies operating in the global hydroponics market include AeroFarms, AMHYDRO; Argus Control Systems Limited; Emirates Hydroponics Farms; Freight Farms; Green Sense Farms Holdings, Inc.; Heliospectra AB; LumiGrow; Signify Holding; and Terra Tech Corp.

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Emergen Research has segmented the global hydroponics market in terms of type, equipment, crops, and region:

  • Type Outlook (Revenue, USD Billion; 2018-2028)
    • Aggregate Systems
    • Liquid Systems
  • Equipment Outlook (Revenue, USD Billion; 2018-2028)
    • HVAC
    • Led grow light
    • Control systems
    • Irrigation systems
    • Material handling
    • Other equipment
  • Crops Outlook (Revenue, USD Billion; 2018-2028)
    • Tomatoes
    • Lettuce
    • Peppers
    • Cucumbers
    • Herbs
    • Others

Click to access the Report Study, Read key highlights of the Report and Look at Projected Trends:

  • Regional Outlook (Revenue, USD Billion; 2018–2028)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. UK
      3. France
      4. BENELUX
      5. Rest of Europe
    • Asia Pacific
      1. China
      2. Japan
      3. South Korea
      4. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East & Africa

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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