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.
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.
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