Hydroponics Market Overview:
Hydroponics Market is expected to garner a revenue of USD8.9 billion by 2030, with a CAGR of approximately 13.45% during the forecast
period, 2022 - 2030.
Market Dynamics:
In the Hydroponics Market environment, increasing pressureon the agriculture industry to fulfill rising demand for grains and food leads
to a divergent quest for high-yielding farming techniques such as precision
farming and urban farming. As a result, hydroponics is being considered as a
possible solution for addressing the growing worry about food security in the
next years, as part of the global forecast period.
Furthermore, because of the pressing need for controlledenvironmental conditions, the impact of climatic variations may most likely be
balanced with the help of these systems, ensuring that the farmers' and other
associations' yearly crop output expectations are met. CEH procedures have a
direct impact on the crop harvest cycle. Because climate variations have a low
impact on such functioning systems, crops can be grown all year, resulting in
increased output. Climate control, nutrient film techniques, and sensor
technologies, among other advancements, are projected to boost market growth in
the near future. With a variety of sensors, web platforms, software, and mobile
applications, hydroponics farming solution companies give users with a variety
of ways to monitor and manage their crops.
However, concerns such as the high cost involved withperforming hydroponics farming are emerging as market trends in the hydroponics
industry. Additionally, test limitations like as false positives and false negatives,
as well as a lack of awareness in emerging countries, are expected to hamper
market growth throughout the projection period.
Competitive Dynamics:
Some of the leading players in the global Hydroponics marketinclude Heliospectra AB (Sweden), Village Farms (Canada), Scotts Miracle Gro
(US), Argus Control Systems (Canada), American Hydroponics (US), Iron Ox (US),
Terra Tech Corp (US), LumiGrow (US), Hydroponic Farms (UAE), Aerofarms (US),
Triton Foodworks Ltd. (India), Signify Holdings (Netherlands), Green Sense
Holding To increase their market share, these players engage in techniques such
as collaborations, business expansions, new product development, and contracts.
To address end-market demands, the corporations are concentrating on building greenhouses
and growing hydroponic farms
The US and Canadian markets make up the North Americanmarket, and as the population of both countries grows, so does the demand for
food and other products. This will propel the market forward in the coming
years. The market in this region is projected to be driven by the increased
adoption of alternative agricultural practices in urban areas. AeroFarms (US),
AMHYDRO (US), Argus Control Systems Limited (Canada), and LumiGrow are some of
the leading market participants in North America (U.S.).
Market Segmentation
The market is divided into two types: aggregate systems andliquid systems.
The hydroponicsmarket research has been divided into HVAC, LED grow lights, irrigationsystems, material handling, control systems, and others based on equipment.
The market has been divided into two categories based oninput: fertilisers and rockwool.
The hydroponics market has been divided into vegetable,fruit, flower, and other crop types.
Regional Analysis:
In the international market, the European region's hydroponicsmarket share is projected to emerge as the dominantly increasing region.Growers who are farmers in the Netherlands generally nurture their plants in
simple tunnel-like greenhouses without using climate control equipment. In
Europe, there has been significant progress in greenhouse farming, which has
aided the spread of hydroponics. France, Germany, Greece, Italy, Spain, and the
Netherlands are examples of developed economies in Europe. The region is
expected to develop at a significant CAGR over the forecast period, owing to
the increased adoption of genetically modified crop technologies.
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