Product Overview

Hydroponics is the process of growing plants using substantial nutrients in a mineral-rich water solution without using soil or soil-less gardening. Only sunlight, a sufficient amount of water, and selected nutrients are required for a plant to grow. This reduces the need for herbicides and pesticides. Any amount of water that can be filtered and reused can be used in hydroponic gardening, which eliminates the need for fresh water and takes up less space. Rising salad and vegetable consumption is expected to fuel hydroponics market growth during the forecast period.

Market Highlights

Hydroponics Market is expected to project a notable CAGR of 11.29% in 2030.

Hydroponics Market to surpass USD 18.5 Billion by 2030 from USD 8.5 Billion in 2019 in terms of value growing at a CAGR of 11.29% throughout the forecast period, i.e., 2020-30. The higher yield compared to conventional agricultural techniques is one of the main growth factors for the hydroponic industry. The demand is expected to be fueled by the rise in consumption of exotic salad crops and by the need for global food security. Increased cultivation of medicinal plants and improvements in the approach to farming could, however, provide the industry with potential growth opportunities. Besides, there is a rise in the yield of lettuce per year with the use of vertical farming technology, which in turn is expected to drive demand growth.

Hydroponics Market: Segments

Liquid systems segment to grow with the highest CAGR during 2020-30

Hydroponics Market is segmented by type as aggregate systems and liquid systems. With a share of over XX.X percent in 2019, the aggregate systems segment is expected to lead the market owing to its widespread popularity among all the indoor hydroponic farmers owing to its ease of setup and inexpensiveness. In such systems, protection for the plants is provided by inert and solid media, such as peat, rock wool, vermiculite, sand, sawdust, perlite, or coconut coir. In aggregate systems, the main techniques include drip systems, ebb and flow systems, and wick systems. Of these, the ebb and flow is the most common mode of an aggregate system, which is favored because it is simple to construct and economically inexpensive. Due to the growing popularity of closed system cultivation among farmers, the liquid systems segment is expected to expand at the quickest CAGR. To grow lettuce and other leafy vegetables, deep-water culture and Nutrient Film Technique (NFT) systems are increasingly being used.

Lettuce crop Segment to grow with the highest CAGR during 2020-30

Hydroponics Market is segmented by crops into tomatoes, lettuce, peppers, cucumbers, herbs, and others. The tomatoes segment accounted for the largest revenue share of XX.X% in 2019. Due to the higher cultivation rate and because it needs a very small amount of water compared to normal farmed tomatoes, they are the largest hydroponically grown crops in the world. The indoor farmers use rock yarn, perlite, or coconut coir as hydroponic tomato cultivation growing materials. Among hydroponic farmers, leafy vegetables such as spinach, arugula, kale, and lettuce are progressively gaining popularity. Among these, due to its raw consumption in relatively large amounts, green and red leaf lettuce is the largest hydroponically grown vegetable among indoor farmers. Due to its growing demand from households and fast-food chains across the country, the hydroponic cultivation of lettuce is increasing in North America. It is projected that the global market size of lettuce would register the fastest CAGR over the forecast period.

Hydroponics Market: Market Dynamics

Drivers

Higher Consumption of Salads and Vegetables

Due to the increased buying power of customers, the market for exotic fruits and vegetables has been consistently increasing at a higher pace. As most of these items are imported, the cost of these exotic products is high and as a result, many research institutions and universities are concentrating on the establishment of more simplified hydroponics systems to speed up the production of exotic fruits and vegetables and meet the growing demand. Growing awareness of eating fresh vegetables among consumers will also fuel the demand in the future. The market will be powered by demand for exotic vegetables such as red and yellow capsicum, red lettuce in retail companies like Burger King, KFC, Pizza.

Restrain

High capital investment

Main cost factors for a hydroponic farm are various types of equipment, including HVAC systems, fans, ventilation, irrigation systems, control systems, rails, and lights. The enormous cost of the system's initial set-up is a major factor that prohibits farmers from investing in these systems. The yield obtained from these systems, however, is higher and the production can also be sold as luxury goods, growing the ROI for farmers.

Hydroponics Market: Key Players

Heliospectra AB (Sweden).

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis.

Scotts Miracle Gro (US)

Village Farms (Canada)

Argus Control Systems (Canada)

Iron Ox (US)

American Hydroponics (US)

Terra Tech Corp (US)

Hydroponic Farms (UAE)

LumiGrow (US)

Aerofarms (US)

Signify Holdings (Netherlands)

Triton Foodworks Ltd. (India)

Urban cultivator (Canada)

Green Sense Holdings (US)

Hydroponics Market: Regions

Hydroponics Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.

Hydroponics Market in Asia Pacific led the market with a lion share of more than XX.X% in 2019 owing to the substantial adoption of hydroponics in China, Australia, South Korea, and other such countries. Due to developing urban hydroponic farms, the demand in China and India is expected to increase significantly over the forecast period. Due to the numerous companies based in the region, and due to the increasing adoption of alternative farming techniques in urban areas, North America has high growth potential. The area is also expected to experience a significant CAGR over the forecast period due to the increasing expansion of genetically modified crop technology. However, it is predicted that the lack of government incentives and the lack of necessary facilities for setting up large hydroponic farms would impede growth in developing countries in the Middle East, Africa, and South America.

Competitive Landscape:

The Hydroponics market, which is highly competitive, consists of several major players such as Signify Holdings (Netherlands), Argus Control Systems (Canada), Heliospectra AB (Sweden), Scotts Miracle Gro (US), American Hydroponics (US), LumiGrow (US), Emerald Harvest (US) hold a substantial market share in the Hydroponics market. Other players analyzed in this report are Hydroponic Systems International (Spain), Advanced Nutrients (Canada), Vitalink (UK), Hydrodynamics International (Spain), Logiqs B.V (Netherlands), Grobo (US), and American Hydroponics (US) among others.

Key players are adopting inorganic growth strategies such as product launches in the global nutritional supplement market. For instance, In May 2020, InFarm recently started its new outlet in the Netherlands at Nijmegen. The facility will be built at various locations such as supermarkets, restaurants, and distribution centers so that vegetables are grown and harvested at areas close to point of purchase.

Hydroponics Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Hydroponics Market report also contains analysis on:

Hydroponics Market Segments:

By Type:

Aggregate Hydroponic System

Closed System

Open System

Liquid Hydroponic System

By Crop Type:

Tomato

Lettuce & Leafy Vegetables

Pepper

Cucumber

Microgreens

Other

Hydroponics Market Dynamics

Hydroponics Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

FAQs on Hydroponics Market

Which segment is anticipated to hold the largest market share

At what CAGR is the market anticipated to grow between 2020 and 2030

Who are the key players in the Hydroponics Market

What could be the challenging factors in the growth of the Hydroponics Market

What are the growth drivers for the Hydroponics Market

Contents

1. Executive Summary

2. Hydroponics Market

2.1. Product Overview

2.2. Market Definition

2.3. Segmentation

2.4. Assumptions and Acronyms

3. Research Methodology

3.1. Research Objectives

3.2. Primary Research

3.3. Secondary Research

3.4. Forecast Model

3.5. Market Size Estimation

4. Average Pricing Analysis

5. Macro-Economic Indicators

6. Market Dynamics

6.1. Growth Drivers

6.2. Restraints

6.3. Opportunity

6.4. Trends

7. Correlation & Regression Analysis

7.1. Correlation Matrix

7.2. Regression Matrix

8. Recent Development, Policies & Regulatory Landscape

9. Risk Analysis

9.1. Demand Risk Analysis

9.2. Supply Risk Analysis

10. Hydroponics Analysis

10.1. Porters Five Forces

10.1.1. Threat of New Entrants

10.1.2. Bargaining Power of Suppliers

10.1.3. Threat of Substitutes

10.1.4. Rivalry

10.2. PEST Analysis

10.2.1. Political

10.2.2. Economic

10.2.3. Social

10.2.4. Technological

11. Hydroponics Market

11.1. Market Size & forecast, 2019A-2030F

11.1.1. By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

11.1.2. By Volume (Million Units) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12. Hydroponics: Market Segmentation

12.1. By Regions

12.1.1. North America:

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.1.2. Europe:

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.1.3. Asia-Pacific:

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.1.4. MEA:

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.1.5. Latin America:

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2. By Type: Market Share (2020-2030F)

12.2.1. Aggregate Hydroponic System, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2.2. Liquid Hydroponic System, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3. By Crop Type: Market Share (2020-2030F)

12.3.1. Tomato, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3.2. Lettuce & Leafy Vegetables, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3.3. Pepper, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3.4. Cucumber, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3.5. Microgreens, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3.6. Others, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

13. Company Profile

13.1.1. Heliospectra AB (Sweden).

13.1.2. Company Overview

13.1.3. Company Total Revenue (Financials)

13.1.4. Market Potential

13.1.5. Global Presence

13.1.6. Key Performance Indicators

13.1.7. SWOT Analysis

13.1.8. Product Launch

13.2. Scotts Miracle Gro (US)

13.3. Village Farms (Canada)

13.4. Argus Control Systems (Canada)

13.5. Iron Ox (US)

13.6. American Hydroponics (US)

13.7. Terra Tech Corp (US)

13.8. Hydroponic Farms (UAE)

13.9. LumiGrow (US)

13.10. Aerofarms (US)

13.11. Signify Holdings (Netherlands)

13.12. Triton Foodworks Ltd. (India)

13.13. Urban cultivator (Canada)

13.14. Green Sense Holdings (US)

14 Consultant Recommendation

**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)