Hydroponic Gardening Appeals to Marijuana Growers - Freedonia Analysis

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Dec 18, 2018, 11:18 ET

CLEVELAND, Dec. 18, 2018 /PRNewswire/ -- Hydroponic gardening is growing in popularity for its potential in urban and interior settings, as well as its use in the growing of marijuana, which is being legalized in more states. Simply stated, hydroponics is the growing of plants in a liquid nutrient solution instead of soil. Advantages of hydroponics include:

Plants mature faster and yield more than the same plants grown in soil.
Indoor growing allows seasonal or weather-sensitive produce to be grown year-round.
Hydroponics save water compared to traditional growing methods.

This output advantage is what appeals to marijuana growers, the number of whom is increasing as the movement to legalize marijuana in the US expands. Medical marijuana use is legal in at least 29 states, and 9 of those states have also approved recreational marijuana use. Those numbers are likely to continue to grow.

Scotts Miracle-Gro has aggressively invested in hydroponics partially as a play to enter the burgeoning legalized marijuana market. Since 2015, it has acquired a number of companies that make hydroponic hard goods as well as consumables, among the most significant of which were Botincare in 2016 and the US and Canadian assets of Can-Filters, a supplier of ventilation for hydroponic gardening, in 2017. According to the company's analyst presentation in June 2017, its "hydroponics portfolio continues to grow double digits as new markets increase". The company completed its acquisition of Sunlight Supply, a major hydroponics products distributor, in June 2018.

More information about these and related trends are in the study Lawn & Garden Consumables: Consumer Insights: https://www.freedoniagroup.com/industry-study/lawn-and-garden-consumables-consumer-insights-3661.htm

Related studies include:
#3700 Home & Garden Pesticides, 5th Edition (May 2018)
#3680 US Lawn & Garden Consumables, 9th Edition (February 2018)

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