Infinium Global Research Hydroponics Market | Page 8

Hydroponics Market: Global Industry Analysis, Trends, Market Size and Forecasts up to
2024
The market size of hydroponics is determined based on the top down approach. The market
size is validated using primary interview with the participants working in some of the
leading players in the Hydroponics Market. The primary interview participants typically
includes managers and CXO level executives of the leading players in this market. The
primary interviews not only help identify the market size of the Hydroponics Market but
also identify the factors that promote the growth in the market and the factors that restrain
the growth in this market. The views of primary respondents were reconciled to provide
qualitative analysis of the Hydroponics Market. The primary respondents also help
identifying top 5-10 players and their possible market share in the respective country
markets and in world market. The bottom-up approach is used to validate the global
market size of hydroponics. With the help of primary interviews and secondary research the
market size of hydroponics is determined for each country studied, which then is added to
arrive at regional market size and thereby obtaining global market size. This in turn helps us
to validate the market size of hydroponicsin the world market.
Executive Summary
Global Hydroponics Market Highlights, (USD Million)
The global Hydroponics Market is expected to grow at a CAGR of 6.3 % between 2018 and
2024 in terms of value. The global hydroponics market is driven by factors such as growing
demand for food and vegans, increasing awareness level about the use of hydroponics to
garner higher yields, shrinking agricultural land due to rapid industrial and residential
constructions, and burgeoning demand for salads, and other vegetables due to growing
health concerns among the consumers. On the contrary, the global market is likely to be
restrained on the backdrop of cost associated with the hydroponic gardening.
The global demand for hydroponic vegetables is likely to be driven by European countries
owing to ageing population and growing prevalence of the hydroponic gardening in Europe.
Europe currently accounts for the largest market share in the world market, while North
America region is projected to grow at a substantial rate over the forecast period. Emerging
countries in the Asia-pacific region such as India, and China are projected to play a crucial
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