Hydroponics Market Size Worth $5.68 Billion by 2025 | CAGR

22.52%: Grand View Research, Inc.

SAN FRANCISCO, Jan. 15, 2020 /PRNewswire/ -- The global hydroponics market size is estimated to reach USD 5.68 billion by 2025, exhibiting a CAGR of 22.52% from 2019 to 2025, according to the new study conducted by Grand View Research, Inc. The adoption of smart farming technologies, such as vertical farming, which has helped the evolution of hydroponics, is expected to spur the market growth. Continuous improvements in hydroponics technologies and introduction of innovative, state-of-the-art technologies, including environmental and temperature sensing, remote growth monitoring, and automatic nutrient reading, is likely to fuel the demand.

Key suggestions from the report:

• Middle East, South America, and Asia Pacific are anticipated to witness lukewarm rise in terms of adoption of hydroponics, on account of lack of government incentives to set up the infrastructure
• Increasing demand for cannabis for medical and recreational uses is expected to boost the adoption among indoor farmers from Canada, Georgia, South Africa, and other such countries
• NFT in the liquid hydroponic systems is one of the highly adopted methods used by indoor farmers. However, state-of-the-art NFT technique is gaining more popularity amongst the growers
• Asia Pacific held the largest market share in 2018 owing to the substantial demand from countries, such as South Korea, China, India, and Hong Kong
• European regional segment is likely to emerge as the prominent segment, holding the largest market share by 2025. The countries such as the Netherlands, Turkey, and Spain witness a high adoption rate of hydroponics
• Mexico is projected to portray lucrative opportunities in near future, owing to the presence of market players, such as Hydroponic Systems, Cultura H, and General Hydroponics. Also, the drylands spread over 100 million hectares in the country restrict the agricultural expansion, driving the adoption of hydroponics and other vertical farming technologies

Read 85 page research report with ToC on "Hydroponics Market Size, Share & Trends Analysis Report By Type (Aggregate Systems, Liquid Systems), By Crops (Tomatoes, Lettuce, Peppers, Cucumbers, Herbs), By Region, And Segment Forecasts, 2019 - 2025'' at: https://www.grandviewresearch.com/industry-analysis/hydroponics-market