Theglobal hydroponics market has been estimated to be competitive in nature.It is expected to experience intense competition over the next few years, notesa new market research study by Transparency Market Research. The reportforecasts that the increasing number of market players and emergence ofcutthroat competition are expected to improve the growth of global hydroponicsmarket in the next few years to come.
Someof the noted players that are operating in the global hydroponics market are Bright Farms Inc.,Village Farms International, Inc., Thanet Earth Ltd., AMCO Produce Inc., andSoave Enterprises LLC. These companies are underscoring the need for innovationand product development thereby generating favorable growth opportunities forglobal hydroponics market in the forthcoming years. Besides, rising numbers ofacquisitions and mergers are further expected to fuel growth of globalhydroponics market over the forecast timeframe.
Inaccordance with the report by Transparency Market Research, the globalhydroponics market will clock 6.5% CAGR from 2017 to 2025. The globalhydroponics market is estimated to be valued at US$12.1 bn by the end of2025.
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HighYield in this form of Cultivation to Drive Market Growth
Increasedproduce of hydroponic vegetables has stimulated the growth of global hydroponicvegetable market. As more and more people get to know about the benefits ofthis type of cultivation over conventional method of cultivation, the globalhydroponics market is ought to grow. Hydroponics use less of land, fertilizers,and water and also serve as a simple solution to the issue of climatechange.
Intakeof contaminated or diseased plants can lead to diseases such as Salmonellapoisoning, E. coli and, others. Rising awareness amongst the consumers ispropelling the demand for vegetables and crops that are cultivated in acontrolled and safe environment. Such awareness fuels the growth ofglobal hydroponics market.
Hydroponiccultivation produces high yield as compared to the usual rural cultivationsystem. Therefore, high yield, thus produced, plays a key role in thestimulating growth for global hydroponics market in the next few years to come.Substantial rise in the vibrant, colourful vegetables along with expandingrequirement for nutritional food are estimated to drive global hydroponicsmarket.
Onthe other hand, the need for high base speculation to generate hydroponicsframework is regarded as one of the main factors that would hamper the growthof the global hydroponics market.
Nevertheless,increase in vertical cultivation is expected to increase the production oflettuce every year. It is predicted to create promising growth opportunitiesfor the companies during the forecast period.
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Europeto Continue with Market Dominance over the Forecast Period
In terms ofgeography, the global hydroponics market is divided into North America, Europe,Latin America, Asia Pacific, and the Middle East and Africa. Of these regions,Europe is foreseen to account for the largest market share in the globalhydroponics market during the forecast period. It is expected to account for41% of the total market share by the end of 2025. North America will followEurope in terms of market share and is anticipated to obtain substantialincremental opportunity in terms of revenue by the end of forecast period. Thistrend in America and Europe is due to the rising demand for different types ofhydroponic vegetables in both the regions.
Followingthe footsteps of Europe and North America, Asia Pacific is foreseen to registerrobust CAGR in terms of market value during the forecasted timeframe. MiddleEast and Africa and Latin America are predicted to follow Asia Pacific closelywith regards to CAGR and market value in the forecast period.
Theinformation shared in this review is based on a TMR report titled, “HydroponicsMarket (Vegetable - Cucumber, Lettuce, Spinach, Peppers, and Tomatoes;Distribution Channel - Modern Trade (Hypermarket and Supermarket), GroceryStores, Unorganized Small Stores, Whole Food and Specialty Stores, and BulkSuppliers and Distributors; Origin - Natural and Organic and Conventional;Farming - Indoor Farming and Outdoor Farming) - Global Industry Analysis, Size,Share, Growth, Trends, and Forecast 2017 - 2025.”
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Theglobal hydroponics market is segmented based on:
Vegetable
· Cucumber
· Lettuce
· Spinach
· Peppers
· Tomatoes
DistributionChannel
· Modern Trade
o Hypermarket
o Supermarket
· Grocery Stores
· Unorganized Small Stores
· Whole Food and Specialty Stores
· Bulk Suppliers andDistributors
Origin
· Natural
· Organic
· Conventional
Farming
· Indoor Farming
· Outdoor Farming
Region
· North America
· Europe
· Asia Pacific
· Middle East and Africa
· South America
