Hydroponics Global Market Report 2022: Increasing Demand for Exotic Vegetables to Boost Growth

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Dublin, Oct. 06, 2022 (GLOBE NEWSWIRE) -- The "Hydroponics Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

The global hydroponics market is expected to grow from $11.33 billion in 2021 to $12.62 billion in 2022 at a compound annual growth rate (CAGR) of 11.34%. The hydroponics market is expected to reach $18.64 billion in 2026 at a CAGR of 10.26%.

Western Europe was the largest region in the hydroponics market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydroponics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growing demand for exotic vegetables is expected to propel the hydroponics market. Rapid growth in urban population among emerging economies, and the growing establishment of gourmet restaurants across the globe are contributing to rapid growth in consumption of exotic vegetables such as mushrooms, tangy kiwis, green olives, and fresh broccoli, dragon fruit, and others.

The increasing demand for exotic vegetables is expected to boost demand for a hydroponic system, as the commercial farmers involved in this sector are investing in advanced plantation equipment such as hydroponics to reduce operational expenses and increase profits. For Instance, In September 2021, according to estimates of agro farming, the Indian exotic vegetable market is expected to increase from 332 million metric tons by 2020 to 432 million metric tons by 2026. Therefore, the increasing demand for exotic vegetables is expected to boost demand for hydroponics systems during the forecast period.

Technological advancement is a key trend gaining popularity in the hydroponics market. Major companies operating in the hydroponics market are focused on providing technologically-advanced solutions to meet end-customer demands and strengthen their market position. These companies are implementing next-generation hydroponics solutions and technologies into their services, such as nutrient film technique, Ebb and Flow System, wick system, communication technology, sensors, irrigation systems, automation, robotics, artificial intelligence system, machine learning, computer vision, and others to grow plants in small spaces.

For instance, in November 2021, Iron Ox, US-based robotics and artificial intelligence-based farming company launched Grover, an autonomous mobile robot to assist farmers with monitoring, watering, and harvesting a wide variety of crops. Through automation and computer vision, Grover autonomously navigates the need of plants related to sunlight, nutrition, and water.

In August 2021, Cargill, a US-based food and beverage manufacturing company, partnered with AeroFarms to improve cocoa bean yields by using more climate-resilient farming practices. With this partnership, these two firms will test various indoor growing technology such as aeroponics and hydroponics, light, carbon dioxide, irrigation, nutrition, plant space, and pruning to identify the best growth environment for cocoa trees. Aerofarms is a US-based farming company specialized in agriculture, aeroponics, hydroponics, leafy greens, clean technology, sustainable, vertical farming, and circular economy.

Scope

Markets Covered:

1) By Type: Aggregate Systems; Liquid Systems
2) By Farming: Indoor Farming; Outdoor Farming
3) By Crop Type: Vegetables; Fruits; Flowers

Key Topics Covered:

1. Executive Summary

2. Hydroponics Market Characteristics

3. Hydroponics Market Trends And Strategies

4. Impact Of COVID-19 On Hydroponics

5. Hydroponics Market Size And Growth

6. Hydroponics Market Segmentation

7. Hydroponics Market Regional And Country Analysis

8. Asia-Pacific Hydroponics Market

9. China Hydroponics Market

10. India Hydroponics Market

11. Japan Hydroponics Market

12. Australia Hydroponics Market

13. Indonesia Hydroponics Market

14. South Korea Hydroponics Market

15. Western Europe Hydroponics Market

16. UK Hydroponics Market

17. Germany Hydroponics Market

18. France Hydroponics Market

19. Eastern Europe Hydroponics Market

20. Russia Hydroponics Market

21. North America Hydroponics Market

22. USA Hydroponics Market

23. South America Hydroponics Market

24. Brazil Hydroponics Market

25. Middle East Hydroponics Market

26. Africa Hydroponics Market

27. Hydroponics Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Hydroponics Market

29. Hydroponics Market Future Outlook and Potential Analysis

30. Appendix

Companies Mentioned

  • AeroFarms

  • Freight Farms

  • ScottsMiracle-Gro

  • General Hydroponics Inc.

  • American Hydroponics

For more information about this report visit https://www.researchandmarkets.com/r/fktw1y

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