A
recent intelligence study by Transparency Market Research suggests
that the global hydroponics market is in developing stage with ample
of opportunities, and expects the competitive to intensify in the
near future, with the leading vendors concentrating on advanced
technologies such as the adoption of shrink wrapping and
computer-controlled drip irrigation system. Some of the key companies
operating in the global
hydroponics market identified by the report are: Thanet Earth
Ltd., Soave Enterprises LLC., AMCO Produce Inc., Village Farms
International, Inc., Eden Farms, Bright Farms Inc., Hollandia
Produce, L.P., Emirates Hydroponics Farms, Millennium Pacific
Greenhouses Ltd., and Platinum Produce Company.
As
per the estimations provided in the report, the demand in the global
hydroponics market will increment at a potent CAGR of 6.5% during the
forecast period of 2017 to 2025, reaching a valuation of US$12.1 bn
by the end of 2025, significantly up from its evaluated worth of
US$6.9 bn in 2016. New product launches, investment on research and
development activities, and mergers and partnerships with regional
players are some of the key strategies adopted by the prominent
companies to strengthen their stronghold over the market.
Lettuce
Most Profitable Vegetable Segment
On
the basis of vegetable type, the TMR report segments the global
hydroponics market into lettuce, cucumber, peppers, spinach, and
tomatoes, and rates lettuce segment as most profitable, accounting
for 32.9% of the global demand in 2017, and attributes it a CAGR of
6.6% during the above mentioned forecast period. On the other hand,
tomato segment is also expected to come up as a substantial segment
in the near future.
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Based
on distribution channel, the TMR report bifurcates the global
hydroponics market into modern trade such as supermarket or
hypermarket, grocery stores, whole food and specialty stores,
unorganized small stores, and bulk suppliers and distributors. Among
these, supermarket or hypermarket segment is projected for the
strongest growth rate, owing to its growing penetration in developed
as well as emerging economies and the ability to manage heavy
footfall and offer variety of products.
Europe
and North America Collectively Serving Maximum Demand
Geographically,
the report gauges the potential of all important regions, including
North America, Latin America, Europe, Asia Pacific, and the Middle
East and Africa, and identifies Europe as the dominant region,
accounting for 41% shares of the demand by the end of the forecast
period, which is 2025. North America is also expected to remain
highly profitable. The extended demand from these two regions is a
reflection of growing demand for hydroponic vegetables, for which the
awareness is growing among the consumers. Vastly populated region of
Asia Pacific is also expected to increment the demand for hydroponics
in the near future, primarily gaining traction from the emerging
economies of India and China.
Escalating
Population Driving Demand
The
global hydroponics market is gaining traction from a number of
factors, such as escalating world population, decreasing arable land,
higher yields in comparison to traditional soil-based agriculture,
growing emphasis on food security, growing popularity of environment
friendly profit farming, and higher consumption of salad crops and
other exotic vegetables. On the other hand, high cost of hydroponic
system set-up and the lack of awareness is hindering the market from
attaining its true potential. Nevertheless, the vendors operating in
the global hydroponics market are expected to gain new opportunities
as a result of increased usage of medicinal plantation and the advent
of customized farming.
The
information presented in this review is based on a Transparency
Market Research report, titled, “Hydroponics 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”
Key
Segments of the Global Hydroponics Market
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)
