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Hydroponics Industry Expected to Grow

Hydroponics Industry Expected to Grow

A new publication from Research and Markets reports that the global hydroponics crop value is anticipated to grow from $18.8 billion in 2014 to $27.29 billion by 2020. The report suggests the penetration of hydroponics in farming techniques is being driven largely by the fact that hydroponic yields are approximately 10 times higher than what can be obtained through soil-based farming for the same area of land. Tomatoes will maintain a 50% market value share throughout the forecast period, and the total land area used for hydroponic cultivation is expected to grow to more than 44,219 ha by the end of the forecast period. North America will be the fastest-growing region for hydroponics, led by the United States. Barriers to entering the hydroponics industry will include educating farmers, and initial investment costs.