Business View Magazine | Volume 9, Issue 1

89 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 1 time, and with less water. How is this possible? More food can be grown because crops can be planted closer together than they can in the field. The application of water and fertilizer is much more precise, allowing for reduced usage of both by up to 90%, and optimal environmental conditions can help result in faster yields. According to a recent study by Zion Market Research, the global Hydroponics market size is projected to reach US$ 46 million by 2027, from US$ 24 million in 2020, at a compound annual growth rate (CAGR) of 11.5% during 2022-2027. Popularly grown hydroponic crops include beefsteak and cluster on the vine tomatoes, many different varieties of fancy lettuce, bell peppers, cucumbers, herbs, cannabis, beans, berries, and much more. Growing crops that are out of season can be very lucrative for the hydroponic grower that works 365 days a year in the garden. Strawberries, for example, fetch a higher price off-season when they are unavailable at grocery stores. Commercial and hobby growers both benefit from this year-round gardening without the burden of long winters to slow them down. Commercial hydroponics is commonly used in traditional greenhouses and indoor farms that use artificial lighting and controlled environments. The largest greenhouse complex in North America is 60 acres and located in eastern Kentucky, run by a company called AppHarvest. There are also vertical farms in warehouses and other buildings and even plants being grown in modified shipping containers. There are a large number of home hydroponic systems that are pre-fabricated and easily assembled by hobbyists. Ambitious gardeners can also create their own systems with commonly found pieces and parts, and utilize spare rooms, garages, closets, sheds or attics for growing areas. It’s not hard to find a retail hydroponic store where these HYDROPONI C SOC I ETY OF AMER I CA (H. S . A . ) Iron Ox Robotic Transplanter, photo courtesy of Iron Ox Seeds sprouting in rockwool