(Food-Beverage-News.Com, September 21, 2017 ) The global hydroponics market is estimated to register a CAGR of 6.7% during the 2017-2022 forecast period, and the market is anticipated to be valued USD 31436.7 million by 2022. A sub-segment of hydro-culture, hydroponics is a method of growing plants using mineral nutrient solutions in water, without soil.
Europe is traditionally the largest market implementing advanced techniques in hydroponic smart greenhouse horticulture. The matured European market demand is led by countries, such as, the Netherlands, Spain, and France. Asia-Pacific forms the second largest market for hydroponics, which is expected to grow at a steady pace during the forecast period. North America, led by the United States and Canada, is expected to grow at a better pace during 2017-2022.
Being a niche market, hydroponics has increased the interest in developing new crop varieties that will have the potential to become tomorrow’s supermarket staples, such as, seedless high yielding cucumber variety, which was developed in Israel, and the Galia muskmelon, which is considered to be Europe’s best selling melon variety.
Along with market expansion, manufacturers of hydroponic equipment are focusing on the development of new efficient systems. Lawn-and-garden giant, Scotts Miracle-Gro, spent USD 136 million for Gavita, a Dutch grow lighting and hardware company. Through its subsidiary, Hawthorne Gardening Co., Scott has invested in companies, such as, Boulder’s AeroGrow, an indoor gardening company, and acquired California’s General Hydroponics Inc. for USD 130 million. The company also spent USD 77.1 million to acquire Botanicare.
The global hydroponics market includes competitive analysis of major companies, such as, Greentech Agro LLC (U.S.), Argus Control Systems (Canada), Logiqs B.V. (The Netherlands), Koninklijke Philips NV (The Netherlands), General Hydroponics, Inc. Greentech Agro, and LLC, Lumigrow, Inc. (U.S.), to name a few.
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