Hydroponics Market Revenue to Hit $16.6 Billion by 2022

The global hydroponics market size is estimated to account for a value of USD 9.5billion in 2020 and is projected to grow at a CAGR of 11.9% from 2020, to reach a value of USD 16.6billion by 2025.Hydroponic systems have been a combination of multiple technologies and hence encompass a specific set of system models. Based on the system model, the hydroponic systems market can be classified into aggregate and liquid systems, wherein aggregate systems utilize a grow media for plant growth support and nutrition, while liquid hydroponic systems do not require a grow media. Owing to the higher efficiency and productivity obtained, liquid systems have been in high demand amongst growers for vegetable cultivation.
The hydroponics market witnesses significant growth due to factors such as the hydroponic technology is an efficient alternative to the rising concerns on food security and shrinking arable land since it provides growers the ability to cultivate crops even in the absence of soil. One of the major drivers is that hydroponics provides higher yield compared to traditional agricultural techniques, owing to the increase in harvest cycles. Furthermore, hydroponics eliminates the use of artificial ripening agents and pesticides, which helps in creating nutritionally superior vegetable products.

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Key players in this market includeSignify Holdings (Netherlands), Argus Control Systems (Canada), Heliospectra AB (Sweden), Scotts Miracle Gro (US), Logiqs B.V (Netherlands), Grobo (US), American Hydroponics (US), and LumiGrow (US).Expansions & investments, mergers & acquisitions, and partnerships were some of the core strengths of the leading players in the hydroponics market. These strategies were adopted by key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios.

Some of the major hydroponics system market players are as following:

Signify Holding (Netherlands) is the world leader in LED and conventional lighting. The company offers various lighting products for professionals and consumers. With the divestiture of Phillips Lighting, now Signify, the company operates as the discontinuous business since 2018. 

The lighting segment includes lamps, consumer and professional luminaires, lighting systems and controls, automotive lighting, packaged light-emitting diodes (LEDs), and LED solutions. Signify Holding is one of the leading players in the field of LED grow light technology and is used widely in the hydroponics market. 

The company offers the product through various brands such as Philips, Interact, Modular Lighting Instruments, Luceplan, and Colorkinetics. 

Heliospectra AB (Sweden) is a provider of intelligent lighting solutions for horticultural applications. It combines variable LEDs with optics, remote sensing technologies, and heat dissipation mechanism to create an ideal environment for crop cultivation. The company’s patented biofeedback-based intelligent variable LED lights can be deployed for illumination in horticultural research, commercial greenhouses, as well as in indoor farming applications. Along with growlights, it also serves the market with software services used in forecasting the yield and controlling the consistency of the operations. The company offers these products and software services for various crops, such as cereals, floriculture, herbs, leafy greens, medicinal, microgreens, and vegetables. The company has its presence majorly in the European and North American countries.

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Scotts Miracle Gro (US) is one of the leading players of branded products such as lawns, gardens, pest & weed control, and hydroponics. The company serves the market with various brands, such as General Hydroponics, Botanicare, Ermicrop Organics, Aerogarden, Aerolux, Mother’s Earth, Growers Edge, GroPro, Sun System, Gavita, Can Filters, and Hurricane. These brands help the growers to grow plant, vegetables, and flowers with efficiency under hydroponic setup. Products within this category include lighting fixtures, nutrients, seeds and growing media, systems, trays, fans, filters, humidifiers & dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools used in horticultural, organic farming, lighting & hydroponics. The company owns leading scientists and state-of-art facilities in order to create new and innovative products.