is a subset of hydro culture, which deals with growing of plants in no soil medium, or a water based atmosphere and uses mineral nutrient solutions to nourish the plants in water without soil. One of the key driving factors for the hydroponics provides higher yield compared to traditional agricultural techniques. This technique is capable of proving the farmers an ability to cultivate crops in zones that do not have provision for fertile soil. Additionally, this market eradicates the utilization of fake ripening agents and pesticides, which helps in creating nutritionally superior vegetable products.
The environment of operation for Hydroponics market is not the same anymore, mainly attributed to the vitality of this market. Hydroponics market is continuously evolving and hence, enabling development of new technologies. Evolving technologies along with addition of new product lines act as the key driving force for this industry.
Since past decade, the market has been experiencing a rapid upsurge in terms of technological advancements which also includes increasing research on integrating the entire value chain of the process industry. Rising urbanization, increasing awareness regarding the Agriculture has catalyzed the growth of Hydroponics market. Moreover, huge investment in process researches has further fueled the Hydroponics application across the various industries.Hydroponics market
is categorized into by type, equipment, crop and geography. The market based on the commercial availability of the types can be divided into wick system, EBB and flow system, NFT, water culture, drip and Aeroponic system. The major equipment being used in the market hydroponics market includes growing chamber, submersible pump, reservoir growing LED lights and many others. All of these are equally important and have a substantial market share. The major crops being grown through this technique include tomatoes, lettuce, strawberries, blueberries and melons to name among a few others.
The global market for Hydroponics was estimated to be $xx bn in 2015 growing at a CAGR of xx% to reach $xx bn by 2020. Vegetables are forecast to have the highest growth of x% during the forecast period 2015-2020. North America and Europe alone are estimated to occupy a share of more than xx% during 2016-2021.
North America is the leading market for Hydroponics with the U.S being the front runner for this market. Europe region is forecast to have highest growth in the next few years due to growing adoption of hydroponics in horticulture. Europe market accounts to xx% of the global market for Hydroponics and is the fastest growing market followed by Americas.
Europe has been at the vanguard of executing progressive practices in hydroponic horticulture. Spain, The Netherlands and France have all been in this league for a long time and have large zones under greenhouse agriculture. Hydroponics has thrived in Scandinavian countries where conventional agriculture is unmanageable during the winter season.Some of the major players in the industry include:
- Argus Control Systems (Canada)
- Greentech Agro LLC (U.S.)
- Koninklijke Philips NV (The Netherlands)
- Lumigrow, Inc. (U.S.)
- Logiqs B.V. (The Netherlands)