The increasing population and urbanization have led to a decline in the arable land, globally. According to the United Nations Department of Economic and Social Affairs, about 55% of the world's population lives in urban areas as of 2018, and that figure is expected to grow to 68% by 2050. Considering the overall growth in population, up to 2.5 billion additional people are expected to be added to urban areas by 2050. Hydroponics is the technique of growing plants with water and nutrients without the use of soil. This technique makes use of containers or specially designed benches with troughs to enable the suspension of plants in water. The hydroponics market is estimated to be valued at USD 9.5 billion in 2020 and is projected to reach USD 17.9 billion by 2026, at a CAGR of 11.3% during the forecast period.