Transparency
Market Research (TMR) states that leading companies in the global
hydroponic vegetables market are AMCO Produce Inc., Village Farms
International, Inc., Soave Enterprises LLC., and Thanet Earth Ltd. As
the competition intensifies, these companies are staying focused on
investing in advanced technologies such as adopting
computer-controlled drip irrigation systems and shrink wrapping among
others.
Lettuce
to be in High Demand Among all other Hydroponically Grown Vegetables
According
to the research report, the global
hydroponic vegetables market
is expected to be worth US$12,106.5 mn by the end of 2025 from
US$6,934.6 mn in 2016. During the forecast period of 2017 and 2025,
the global market is expected to register a CAGR of 7.5%. Out of the
various vegetables, the lettuce segment is projected to lead the
global market in the coming years as it is poised to expand at a CAGR
of 6.6% during the forecast period. From a geographic point of view,
the Europe hydroponic vegetables market is slated to acquire a share
of 52.3% by the end of 2025 in the global market.
Demand
for Locally Grown Vegetables Bolsters Growth
The
growing demand for locally grown vegetables has been instrumental to
the flourishing hydroponics vegetables market across the globe. Owing
to this reason, several farmers are catering to the burgeoning need
for local vegetables, which is a far more profitable business. The
freshness of hydroponically grown vegetables and the demand for
organically and naturally grown food items are expected to propel the
global market. The emerging trend of farmer’s markets, increasing
number of community-sponsored agriculture initiatives, and growing
adoption of direct-to-consumer distribution are expected to work in
the favor of the global hydroponic vegetables market. The increasing
inclination of retailers to source vegetables that are locally-grown
as they are better in taste, do not need additional transportation
costs, and longer shelf life is expected to favor market growth.
The
growing concerns about food security due to increasing population and
rapid urbanization have also become important in propelling the rise
of the global hydroponic vegetables market. The growing challenges
pertaining to cultivation of grains and vegetables in conventional
ways has made farmers take a serious interest in hydroponics. Thus,
several countries are investing in developing vertical hydroponic
farms that are likely to be cost effective in the coming years. The
promise of food safety and reduced exposure to pathogens has also
titled attention toward hydroponics.
High
Capital Investment to Dissuade Market Growth Over Forecast Period
On
the flip side, the global hydroponic vegetables market is being
hampered by the high capital investments required for developing
these modern farms. This impact is especially severe in developing
countries of the world. The exorbitant cost technology,
consultations, and maintaining greenhouses is likely to discourage
market growth. Additionally, the high energy requirement as compared
to traditional farming is likely to restrain the market from
achieving its full potential.
This
review is based on Transparency Market Research’s report, titled
“Hydroponic Vegetables Market (Vegetable – Cucumber, Lettuce,
Spinach, Peppers, and Tomatoes; Distribution Channel - Modern Trade
(Hypermarket and Supermarket), Grocery Stores, Unorganized Small
Stores, Whole Food and Specialty Stores, and Bulk Suppliers and
Distributors; Origin - Natural and Organic and Conventional; Farming
- Indoor Farming and Outdoor Farming) – Global Industry Analysis,
Size, Share, Growth, Trends, and Forecast, 2017–2025.”
The
market has been segmented as below:
Global
Hydroponic Vegetables Market – By Vegetable Type
- Cucumber
- Lettuce
- Spinach
- Peppers
- Tomatoes
- Others
Global
Hydroponic Vegetables market – Distribution Channel
- Modern Trade (hypermarket/supermarket)
- Grocery Stores
- Unorganized Small Stores
- Whole Food and Specialty Stores
- Bulk Suppliers and Distributors
- Others
Global
Hydroponic Vegetables Market – By Origin
- Natural & Organic
- Conventional
Global
Hydroponic Vegetables market – Farming Type
- Indoor Farming
- Outdoor Farming
Global
Hydroponic vegetables market – By Region
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
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