The global hydroponics market is segmented into crop type such as tomato, lettuce & leafy vegetables, pepper, potatoes and other root crops, cucumber, and others (strawberry, mint and herbs). Among these segments, lettuce & leafy vegetables segment grabbed major shares of market in previous years and is expected to witness considerable growth over the forecast period. The rise of the lettuce & leafy vegetables segment is backed by increasing demand for vegetables across all regions. Hydroponics is a very eco-friendly and high productive method for vegetable production. Hydroponics can be very useful in commercial production of vegetable and other food products and also for home production.
Global hydroponics market is expected to register a notable CAGR over the forecast period. Moreover, the global market is projected to grow on the back of factors such as growing demand for food and reducing arable land area globally. Further, the rate of climate change is expected to increase over the next 50 years, and current climate conditions bring new stresses on agriculture production and prevent sustainable vegetation production in many areas. This has resulted in an increase in the demand for alternative agricultural practices that will be sustainable for the long term period such as hydroponics.
The N.F.T. (Nutrient Film Technique) segment by system type is likely to grow at remarkable pace during the forecast period. N.F.T. (Nutrient Film Technique) is one the most adopted hydroponics system. Owing to its fairly simple design, the demand for NFT system is increasing, which in turn expected to foster the growth of this segment in future.
Reducing Arable Land Areas
Although, the world is going through a great urbanization, digitalization and industrialization transformation, such transformations have adverse impact on world agriculture industry. Due to urbanization and industrialization, the arable land areas are continuously decreasing, the soil is getting weak in nutrition and the food production is falling. The world agriculture land is shrinking and due to this demand for small land farming solutions such as hydroponics, horticulture and others is increasing at extraordinary rate across all regions.
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Government Initiatives and Support
Governments are encouraging farmers to adopt hydroponics methods owing to their environmental benefits. Government is initiating various hydroponics projects and offering subsides to the green house farming adopters. Such government initiatives are expected to bolster the growth of market in future.
Although, hydroponics requires highly skilled labor in order to set up and operate and also constant monitoring is required, such factors are hindering the growth of market across all regions.
The report titled “Global Hydroponics Market: Global Future Outlook (2018-2027) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global Hydroponics market in terms of market segmentation by system type, by crop type, by equipment and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global Hydroponics market which includes company profiling of American Hydroponics, The Hydroponics Company Limited, HydroGarden, Hanna Instruments, Inc., CropKing, Phytoponics, General Hydroponics, Hydrofarm, Hyalite Australia and Lumigrow Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Hydroponics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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