Based on the aforementioned factors, an IndustryARC report projects profitable growth of the global hydroponics market until 2023. The report is titled “Hydroponics Market : By Type (Wick system, Water culture, EBB & FLOW, others); By Equipment (Growing Chamber, Submersible Pump, Growing LED and Others); By Crop (Vegetables, Fruits, Flowers and Foliage, Herbs and Others); By Geography - Forecast(2018 - 2023).”
According to the World Bank, globally, over 70% of the water is used for agriculture. The report estimates that by 2050, feeding a planet of 9 billion people will require at least 50% increase in agricultural production and a 15% increase in water withdrawals. This situation is unsustainable in the long-run and requires a renewed focus on efficient water use. Hydroponics is an eco-friendly way for productive use of water. Plants grown hydronically use only 10% of the water compared to field grown ones. This factor is the primary driver of the global hydroponics market. Hydroponics is a method of growing plants in water based, nutrient rich solution. This system does not use soil, instead, the root system is supported using an inert medium like perlite, rock wool, and clay pellets.
Since hydroponics is a closed system, nutrients do not leach away, and an efficient hydroponic farm only uses 25% of the fertilizer in comparison to a regular farm. Additionally, with this approach, farmers can grow foods all the year regardless of the season. Farmers can produce foods at the appropriate time to maximize their business profits. The cut of insecticides and herbicides is another strong point of hydroponics. It provides faster growth of plants and more suitable for the environment because it reduces waste and pollution from soil runoff.
Browse 65 Market Tables, 177 Figures spread through 160 slides and an in-depth TOC on “Hydroponics Market (2018 - 2023)”
Global Aquaponics Market: Disruptive Trends and Key Drivers
- Hydroponic plants produce a greater yield of fruits and vegetables. In this system, plants are more densely spaced together compared to the size of land that would grow the same number of plants.
- This technique is functionality on different scales, viable for small store operation and also for large warehouse scale production. With an increasing trend for healthy eating and demanding quality fruits and veggies, it plays an important role in terms of supply of fresh and locally produced organic food.
- When it comes to medicinal purposes, the hydroponics process can play a vital role in growing cannabis, which results in an all-natural and clean products.
- Low heat output LED grow lights eliminate the need for additional cooling systems and bring further efficiency and compactness to hydroponics systems.
- The NFT (Nutrient Film Technique) segment of the market by system type is likely to grow at a remarkable pace because of its recirculation and one the most adopted hydroponics system. Owing to its simple design and continuous flow of nutrient solution through the roots, though it’s just a thin film, there will be plenty of water moving past the plant roots. NFT makes plants grow faster and healthier.
Hydroponics is the technique for growing plants in a water-based, nutrient-rich solution. Plants are without the use of soil. It is an eco-friendly method for efficient use of water. In this method, high production can be achieved throughout the year regardless of the season. Hydroponics usage is also advisable as it improves plant growth and reduces waste and pollution from soil runoff. All these factors and numerous applications of hydroponics will drive the market in near future.
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Aquaponics Market: By Aquaponics Method; By Components; By Cultivation; By Equipment; By Application; By Geography - Forecast(2018-2023)
Urban Farming Market: By Farm Types (Commercial, Community, Home Gardens and Corporate); By Crop Types (Food and Non-food Crops); By Growing Medium (Hydroponics, Aquaponics and Aeroponics); By Hardware Components (Hydroponic Components, Irrigation Component, Lighting Devices, Sensor Devices, Containers and LEDs); By Structure (Indoor Farming, Outdoor Farming); By Geography - Forecast(2018-2023)
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