For a variety of reasons, the hydroponics market has seen rapid growth in recent years, especially in states like California, Colorado, and Washington. Whether it’s individual growers exploring indoor gardening as a hobby, or new businesses scaling their operations, people are purchasing more and more 1000 watt metal halide bulbs, water pumps and fans, essential nutrients, pH testing kits, and everything else necessary for high quality hydroponic systems.
To better understand this fast growing industry, here are some helpful answers to some of the most common questions:
- How much money is in the grow lighting industry? — The market value as a whole for plasma grow lights alone amounted to approximately $30 million in 2016. The overall grow lighting market, however, is worth much more. In fact, the hydroponic grow light market is projected to be valued at $5.1 billion by the year 2022, increasing at a compound annual growth rate (CAGR) of 11.8% from 2017 to 2022.
- What should I get for initial setup? — In addition to lights such as 1000 watt metal halide bulbs, you’ll need hydroponic cloning systems, fans, pH testing kits, nutrients, water and air pumps, sodium lights, and a place to put it all.
- When did alternative therapy gain popularity? — At least in terms of medicinal herbs, this medical trend began gaining notoriety back in the 1990s. In fact, in the 1990s expenditures associated with alternative therapy across the U.S. was estimated to be about $13.7 billion. Alternative herbal treatments have only become more popular in the years since. In fact, the herbal medicines market grew faster than any other type of alternative therapy, nearly doubling the initial market value of $13.7 billion.
- How much more efficient is hydroponic gardening than traditional growing techniques? — In most cases, you can plant roughly four times the amount of crops in the same area using a hydroponics system compared to traditional soil farming. As such, it’s a popular option for urban farming operations.
- The hydroponics industry is fascinating, but it can be quite overwhelming if you’re unsure of what you’re doing. That’s why it’s best to talk with experienced professionals who can help you purchase the right equipment and supplies. If you want to learn more about the popular hydroponics industry or find high quality 1000 watt metal halide bulbs for your very own system, give Healthy Harvest a call today.