Hydroponics Market by Type

Hydroponic farming is becoming more and more popular - practical and cost saving!

Hydroponics Market worth $17.9 billion by 2026 - Exclusive Report by Markets and Markets™

PRESS RELEASE PR Newswire Jan. 25, 2021, 09:30 AM CHICAGO, Jan. 25, 2021 /PRNewswire/ -- According to the new market research report "Hydroponics Market by Type (Aggregate Systems, Liquid Systems), Crop Type (Vegetables, Fruits, Flowers), Equipment (HVAC, LED Grow Lights, Irrigation Systems, Material Handling Equipment, Control Systems), Input Type, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the market size is estimated to account for a value of USD 9.5 billion in 2020 and is projected to grow at a CAGR 11.3% from 2020, to reach a value of USD 17.9 billion by 2026. Factors such as the higher yield as compared to conventional agriculture practices, controlled environment farming, and improved yield and higher produce with limited land resources are some of the key factors driving the growth of the hydroponics system market during the forecast period. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=94055021 By type, the nutrient film technique (NFT) system segment is estimated to account for a larger market share, in terms of value, in 2020 The nutrient film technique (NFT) segment is projected to hold a larger market share in the liquid system segment. The growing popularity of NFT and aeroponic systems has propelled their adoption in developing countries, owing to which, the liquid systems are projected to grow at the fastest rate during the forecast period. Owing to the high production of lettuce in North America, the adoption of NFT systems is high in the region; hence the NFT segment dominated the market in 2020. The vegetables segment, on the basis of crop type, is estimated to hold the largest share in the hydroponics market, in terms of value, in 2020

The nutrient segment, on the basis of input, is estimated to hold the largest share in the hydroponic inputs market, in terms of value, in 2020

The nutrient segment is projected to hold the largest market share in the hydroponic inputs market in 2020. Nutrients are one of the basics of hydroponic systems as it caters to the nutritional requirement of the plant. There are two major types of nutrients used in hydroponics, macronutrients, and micronutrients. Hydroponics helps the grower to take complete control over the implementation of fertilizers, in terms of type and concentration. During the application of nutrients, nutrient concentration to suffice plant needs at every growth phase and EC strength at the stage of growth must be monitored.

Asia Pacific is projected to grow at the highest CAGR during the forecast period

Asia has the largest greenhouse vegetable growing area of 224,974 ha across the globe, followed by Europe with 173,561 ha as per the report on protected horticulture by FAO in 2017. Thus, with the high number of greenhouses in Asia Pacific, the growth opportunity for hydroponic market is the highest and hence, the region is expected to grow at the highest rate during the forecast period.

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