The
global market for hydroponic vegetable has been gaining significant
impetus over the past few years. The decrease in the production cost
and the timely yield of healthy crops is the main factor behind the
significant growth of this market. Apart from this, the technological
advancements in farming methods is expected to boost this market over
the next few years remarkably. According to Transparency Market
Research (TMR), the global market for hydroponic vegetable will gain
from the increasing trend of GMO seeds and crops in the years to
come.
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Research
analysts at TMR are answering some of the important questions
pertaining to the global market for hydroponic vegetables in this
blog post:
What
are the main factors that are influencing the global hydroponic
vegetable market?
The
guaranteed yield and production of exotic variety of vegetables in no
growing zones is making the global hydroponic vegetable market very
attractive for the manufacturers looking to invest in the food
industry. Hydroponic vegetables are expected to witness a high rise
in their consumption across the world due to the changing trends in
the food and beverage markets, directed towards healthy and fresh
products. Apart from this, low production cost and the decrease in
food miles are also driving this market towards growth.
On
the other hand, as organic vegetables are not produced by hydroponic
system, the increasing shift of consumers towards organic food
products may hamper the growth of this market in the near future.
However, the production of exotic varieties of vegetable near the
selling point, reducing the food files, subsequently helping in bring
down the selling price of the product and resulting in increased
consumption, will support the growth of this market in the near
future.
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Which
of the geographical segment will dominate the global market?
North
America and Europe has surfaced as the leading regional markets for
hydroponic vegetables across the world. The presence of highly health
conscious people is reflecting positively on the demand for natural
and fresh farm products. The increasing demand for exotic food
products is boosting the hydroponic vegetable markets in the Middle
East and Africa and Asia Pacific. Going forward, North America,
closely followed by Europe, is anticipated to remain dominating the
global market for hydroponic vegetables over the coming years.
What
are the key strategies leading players in this market are opting for?
The
leading players in the global hydroponic vegetable market, such as
Growponics Ltd, AeroFarms, Freight Farms, Edenworks, AmHydro Inc,
BrightFarms Inc, Hortimex Holland BV, Thanet Earth Ltd., Topterra
Holland, HotiNed, Metazet/FormFlex, Swissradies, and StarFarm
Pakistan (Pvt.) Ltd., are increasingly focusing on technological
advancements in their products in order to sustain in this highly
competitive market. Price differentiation is also surfaced as one
important strategy taken up by these players to strengthen their
position in this market.
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