Hydroponics Market to surpass USD 18.5 Bn by 2030 from USD 8.5 Bn in 2019 in terms of value growing at a CAGR of 11.29% throughout the, i.e., 2020-30.
PHILADELPHIA, UNITED STATES , February 10, 2022 /
EINPresswire.com/ -- Fatpos Global has released a report titled “
Hydroponics Market – Global Analysis of Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030” which is anticipated to reach USD 18.5 Billion by 2030. According to a study by Fatpos Global, the market is anticipated to portray a CAGR of 11.29% between 2020 to 2030. The higher yield compared to conventional agricultural techniques is one of the main growth factors for the hydroponic industry. The demand is expected to be fueled by the rise in consumption of exotic salad crops and by the need for global food security. Increased cultivation of medicinal plants and improvements in the approach to farming could, however, provide the industry with potential growth opportunities. Besides, there is a rise in the yield of lettuce per year with the use of vertical farming technology, which in turn is expected to drive demand growth.
“A key factor driving the hydroponics market is the high demand for exotic vegetables such as kale, lettuce, broccoli, cucumber, and cilantro for use in multi-national and intercontinental cuisines. This is due to the growing tendency of consumers for food goods that are safe and chemical-free. The growth of the hydroponics market contributes to this factor. To increase the market demand for hydroponic goods, developing regions are concentrating on building technological innovations to speed up production” said a lead analyst at Fatpos Global.
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• Brief Introduction to the research report.
• Table of Contents (Scope covered as a part of the study)
• Research methodology
• Key Player mentioned in the report
• Data presentation
• Market Taxonomy
• Size & Share Analysis
• Post COVID-19 Impact Analysis
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Hydroponics Market: Key Players
• Heliospectra AB (Sweden)
• Scotts Miracle Gro (US)
• Village Farms (Canada)
• Argus Control Systems (Canada)
• Iron Ox (US)
• American Hydroponics (US)
• Terra Tech Corp (US)
• Hydroponic Farms (UAE)
• LumiGrow (US)
• Aerofarms (US)
• Signify Holdings (Netherlands)
• Triton Foodworks Ltd. (India)
• Urban cultivator (Canada)
• Green Sense Holdings (US)
Due to the increased buying power of customers, the market for exotic fruits and vegetables has been consistently increasing at a higher pace. As most of these items are imported, the cost of these exotic products is high and as a result, many research institutions and universities are concentrating on the establishment of more simplified hydroponics systems to speed up the production of exotic fruits and vegetables and meet the growing demand. Growing awareness of eating fresh vegetables among consumers will also fuel the demand in the future. The market will be powered by demand for exotic vegetables such as red and yellow capsicum, red lettuce in retail companies like Burger King, KFC, Pizza. The rising population is growing the world's food demand. This is expected to drive demand for alternative farming technologies that, in less time, offer high yields. Regions such as Asia Pacific and Europe, where arable land and water are becoming scarce, are seeing growing adoption of alternative high-yield farming technologies, which are expected to fuel demand growth in turn. Advances in climate management, nutrient film technology, and sensing technologies, among others, are anticipated to bode well shortly for market development. With various sensors, online sites, apps, and mobile devices, Hydroponics farming solution providers give consumers different ways to track and control their crops.
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In the new report, Fatpos Global thrives to present an unbiased analysis of the Hydroponics Market that covers the historical demand data as well as the forecast figures for the period, i.e. 2019-2030. The study includes compelling insights into the growth that is witnessed in the market. The market is segmented by type into aggregate systems and liquid systems; the market is segmented by crop type into tomatoes, lettuce, peppers, cucumbers, herbs, and others. Geographically, the market is segmented into North America, Latin America, Europe, APAC, and MENA.
Market Regions
• North America:(U.S. and Canada)
• Latin America: (Brazil, Mexico, Argentina, Rest of Latin America)
• Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe)
• Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific)
• Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa)
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Hydroponics Market Segments:
By Type:
• Aggregate Hydroponic System
• Closed System
• Open System
• Liquid Hydroponic System
By Crop Type:
• Tomato
• Lettuce & Leafy Vegetables
• Pepper
• Cucumber
• Microgreens
• Other
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