According to the research report titled ‘Global Hydroponics Market Size study, by Type (Aggregate Hydroponic System and Liquid Hydroponic System), By Crop Type (Tomato, Lettuce & Leafy vegetables, Pepper, Cucumber, Microgreens and Other Crop types) and Regional Forecasts 2020-2027’ available with Market Study Report, global hydroponics market was worth USD 8.50 billion in the year 2019 and is projected to exhibit a healthy CAGR of 11.90% during 2020-2027.
 

The report states that emergence of vertical farming technology coupled with technological advancements in urban farming are bolstering the growth of global hydroponics market size.
 

For the uninitiated, hydroponics is a farming practice that involves the cultivation of plants and crops without using soil. It generally involves the utilization of mineral nutrient solutions and is considered to be a subset of hydroculture.
 

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Rising adoption of the method for cultivation of medicinal plants, introduction of innovative products, and strategic alliances such as mergers and acquisitions by industry partakers are stimulating the global hydroponics market outlook. Citing an instance, AeroFarms allocated funds worth USD 42 million in the November 2019 for the establishment of the largest indoor farming facility at Cane Creek Center.
 

On the contrary, high capital investment for the establishment of large-scale farms is expected to impede the industry expansion throughout the analysis timeframe.
 

Based on type, global hydroponics industry is fragmented into liquid hydroponic system, and aggregate hydroponic system. With regards to crop type, the market is bifurcated into microgreens, cucumber, pepper, lettuce & leafy vegetables, tomato, and others.
 

As per the regional analysis of the report, Asia-Pacific hydroponics market dominates the business vertical currently and is estimated to register the highest CAGR over 2020-2027. Escalating number of urban hydroponic farm establishments in India and China coupled with increasing adoption of this farming method, predominantly in South Korea, Australia, and China are propelling the expansion of the regional market.
 

Prominent players that outline the worldwide hydroponics market trends are Logiqs B.V., Emirates Hydroponics Farms, LumiGrow Inc., Terra Tech Corporation, Signify Holding B.V., Heliospectra AB, Green Sense Farms Holdings Inc., Freight Farms, Argus Control Systems Limited, and AeroFarms among others.