Report Description
A recent market intelligence report that is published by Data Insights Partner on the global Hydroponics Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Hydroponics Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Hydroponics Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Hydroponics Market is offered. In accordance with the report, the global Hydroponics Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Definition
Hydroponics is a farming method in the absence of soil and other natural resources which utilizes controlled environmental systems. It is a subsegment of hydroculture. The utilization of nutritional solutions in hydroponics reduces the necessity of natural environment. In fact, hydroponics can be termed as a revolution in the field of agriculture. The drive for urban farming, precision farming and other advanced agricultural methods has led to the invention of the hydroponics system of agriculture.
Market Drivers
The superiority of hydroponics over the traditional methods of farming is primarily driving the growth of this market. In accordance to the UN reports on population, the productivity of hydroponics system is 2-5 times higher and yields 20%-25% higher than traditional farming techniques. This process makes use of man-made environment which can be controlled with advanced sensors and techniques. The adverse effect of climate changes can not affect crop production under this technique which is the initial impetus to the growth of this market.
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The surging population around the globe that is increasing the number of mouths to be fed coupled with the adverse effects of fluctuating weather conditions on traditional ways of food production and its impact on food security is fueling the growth of this market.
Rapid urbanization and reduction in land for farming and agricultural lands complementary to the depleting natural resources like soil and water and also increasing pollution of these resources is empowering the growth of this market. This is because this method makes lesser utilization of water and soil and needs indoor areas and the water-based solutions can be recycled.
The soaring awareness among the consumers with regard to their health is thriving the growth of this market. Consumers are now increasingly aware of the adverse effects of chemical fertilizers and pesticides used in crop production on their health and also on the environment. This is charging consumers towards the inclination of hydroponics system. Moreover, the skyrocketing consumption of salads and fresh vegetables and need for customizable medicinal plants in homes on a global basis is augmenting the growth of the hydroponics market.
Market Restraints
Huge capital investment is needed for setting up large-scale establishment for agricultural production through hydroponics owing to the implementation of advanced systems like HVAC Systems, irrigation systems, lights and many more. The high cost is severely straining the growth of the hydroponics market.
Hydroponics farming takes place in an indoor set up which triggers the spread of algae and water borne diseases in case of closed hydroponics system thereby hindering the growth prospects of this market.
The lack of proper knowledge and information among the farmers and the farming communities with regard to the positive side of utilizing the hydroponics system is impeding the growth of the hydroponics market.
The lack of a well-developed supportive infrastructural system provided by the government through the disposal of initiatives and subsidies especially in developing economies is hampering the growth of the hydroponics market.
Opportunities
The growing cultivation of medicinal and aromatic plants coupled with the transition in the adoption of farming techniques like the adoption of modified and customizable farming techniques is likely to provide a lucrative opportunity to this market.
The expenditure and resources incurred by the leading players of this market on research and development to improvise existing product and expand the product portfolio aimed at improving the technology of operation of this system is a stepping stone for the operators of this market.
With a surge in cannabis cultivation as a result of legalization of marijuana in some countries, the drive for alternative farming methods is skyrocketing complementary to the adoption of vertical farming techniques. These factors are expected to provide bankable opportunities to this market.
Trends
At present the North America region is dominating the hydroponics market owing to the adoption of this system by small and family business operators. The market of this region is expected to showcase significant growth because of the lower demand for skilled laborers to take care of large firms, efficient and technically advanced methods of farming. The Asia Pacific region is expected to show significant growth due to the adoption of alternative farming techniques and the presence of China and Indian market which is expected to upsurge. the Europe region is expected to continue its domination in the forecast period because of rapid industrialization and urbanization and acute shortage of cultivating lands.
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Segment Covered:
This market intelligence report on the global Hydroponics Market encompasses market segments based on type, equipment, input and country.
By Type the global Hydroponics Market has been divided into:
q Liquid Systems
o Aeroponics
o Nutrient Film Techniques
o Deep Water Culture
q Aggregate Systems
o Wick Systems
o Drip Systems
o Ebb and Flow Systems
By Equipment the global Hydroponics Market has been divided into:
q Control Systems
q Material Handling
q Irrigation Systems
q LED Grow Lights
q HVAC
q Others
By Input the global Hydroponics Market has been divided into:
q Grow Media
o Coco Fiber
o Perlite and Vermiculite
o Rockwool
o Others
q Nutrients
o Trace Minerals
o NPK
o Others
By country/region, the global Hydroponics Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q LumiGrow Inc
q Aerospace
q InFarm
q Signify Holdings
q Argus Control Systems
q Heliospectra AB
q Scotts Miracle Gro
q Emerald Harvest
q American Hydroponics
q Grobo
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Hydroponics Market related investment & spending and developments by major players of the market are tracked in this global report.
Report Highlights:
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
LumiGrow Inc
In August 2019, TopLight Hybrid Smart Fixtures was launched by LumiGrow Inc. an enriched white spectrum which is wireless and controlled by SmartPar software is the main benefit of the Hybrids.
Aerospace
In November 2019, an investment of 42 million for the establishment of the biggest indoor facility at Cane Creek Center was made by Aerospace.
InFarm
In May 2020, a new outlet of InFarm was set up at Nijmegen in Netherlands. This facility was situated at a variety of locations including restaurants, supermarkets, and distribution centers so that vegetables are grown close to production point.
Salient Features:
Ø This study offers comprehensive yet detailed analysis of the Hydroponics Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Hydroponics Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Hydroponics caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Hydroponics Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Hydroponics Market
v Identification of key factors driving investment opportunities in the Hydroponics Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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