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The market for hydroponic systems is estimated at USD 9.5 billion in 2020; it is projected to grow at a CAGR of 11.3% to reach USD 17.9 billion by 2026
The
hydroponics market is estimated at USD 9.5 billion in 2020; it is projected to grow at a CAGR of 11.3% to reach USD 17.9 billion by 2026. The pressure on the agriculture industry to meet the growing demand for grains and food leads to the search for high-yielding farming techniques, such as precision farming and urban farming. Hydroponics thus is looked upon as a potential solution for the growing concern about food security in the coming years.
COVID-19 Impact on the Global Hydroponics Market