Jan 11, 2018
Report: Hydroponics market worth $27.29 billion by 2022

Lack of fertile land availability to meet the demand of crop cultivation has led to development of new ways to cultivate crops, hydroponics is one such novel method that is gaining traction worldwide.

Market Research Future, a firm which specializes in market reports related to the agriculture sector among others, recently forecasted in its report on Hydroponics Market Research Report – Forecast to 2022 that the global hydroponics crop value is expected to develop to earn revenues worth USD 27.29 Billion by 2022 at an estimated CAGR of 6.39% from 2015 to 2022.

The global hydroponics crop value is anticipated to grow to USD 27.29 Billion by 2022 at an estimated CAGR of 6.39% from 2015 to 2020. Improved yields, higher return on investment, and protected environment among others, attracting a larger share of producers as well as investors has been driving the hydroponics market.

The global population count is set to reach the 9 billion mark by 2050, and the food resources are depleting at a proportionate rate. With the progressive integration of technology with agricultural practices there have been significant improvements in conventional farming practices, yield quantities, and associated returns on investments. However, in the past decade there has been constant degradation of natural resources such as land and water. This along with several other monetary reasons has led to an alarming need of switching to unconventional farming techniques, such as hydroponics, which does not depend on soil, fertile land and water resources for cultivation.

Europe is an established market for hydroponics, whereas North America, primarily the U.S. and APAC, primarily India hold immense potential to grow significantly during the forecast years.

The European region lead the global hydroponics market in 2014 with an estimated crop value of USD 9.8 billion and will continue with this dominance growing over USD 13.38 Billion by 2020 at an estimated CAGR of 5.28% through 2015 to 2020. The Americas will be growing at the highest CAGR of 9.1% from 2015 to 2020. Developing countries of Middle East and Africa will continue contributing smaller shares to the global hydroponic crop value through the forecast period.

Study Objectives of Hydroponics Forecast to 2022

  • To provide driving factors for the global Hydroponics market through 2015 to 2022
  • To provide the major factors need to be addressed for wide scale adoption of hydroponics through the forecast years
  • To understand the supply and demand dynamics
  • To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
  • Analysis of historical market trends, and technologies, and current government regulatory requirements
  • To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market

Target Audience

  • Greenhouse equipment manufacturers
  • Large scale vegetable producers
  • Horticulutural input companies
  • Retailers
  • Government organization

Key Players

The leading market players in hydroponics primarily are Village Farms International, Thanet Farms, Pegasus Agritech, James Foskett Farms. Terra Tech, Growlife, American Hydroponics and General Hydroponics.

Key Findings

  • The soil-less farming technique (hydroponics) is poised to grow over USD 27.29 Billion by 2022 at an estimated CAGR of 6.39% from 2015 to 2022
  • Hydroponic crop value in Europe will be lower than the global average at a steady 5.28% CAGR, growing from USD 9.8 Billion in 2014 to USD 13.38 Billion in 2022
  • Developing countries of Middle East and Africa will continue contributing smaller shares to the global hydroponic crop value through the forecast period
  • Tomatoes are the largest contributor to the global hydroponic crop value and will continue with this dominance during the forecast period

Country Analysis of Global Hydroponics Market Forecast to 2022 Market

As per the MRFR analysis, the global market for hydroponics has witnessed continued demand during the last few years and is projected to reach USD 27.29 Billion by 2022, at a CAGR of 6.39% during the forecasted period.

The reports also cover country level analysis:

  • North America
  • Europe
  • APAC
  • Rest of the World
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