Global Hydroponics Market: Pressing Need to Increase Food Production Volumes for Mounting Global Population to Drive Growth, says TMR

The nascent stage of development of the global hydroponics market ensures the presence of ample growth opportunities for new companies, states Transparency Market Research in a recent report. The level of competition is expected to intensify in the near future as companies start realizing the vast growth opportunities that the market offers, leading to a fairly populated vendor landscape and a rich product portfolio for business across the globe. Companies are presently focusing on advanced innovative technologies such as computer-aided drip irrigation and shrink wrapping.

Going forth, companies are expected to focus more on launch of new products, increased investment towards R&D activities, and strategic collaborations with regional companies to establish their stronghold on the market. Some of the leading vendors recognized in the market are Emirates Hydroponics Farms, AMCO Produce Inc., Soave Enterprises LLC., Thanet Earth Ltd., Bright Farms Inc., Village Farms International, Inc., Millennium Pacific Greenhouses Ltd., Hollandia Produce, L.P., Eden Farms, and Platinum Produce Company.

The report states that the global hydroponics market will exhibit a promising 6.5% over the period between 2017 and 2025, rising from a valuation of US$6.9 bn in 2016 to an opportunity of US$12.1 bn by 2025.

Developed Regions at the Fore of Market Development, to Retain Dominance

On the basis of the type of vegetable, the global hydroponics market earns its dominant share in revenue from the lettuce segment. The segment held a significant 32.9% of the overall market in 2017 and is expected to remain one of the most profitable segments throughout the forecast period as well, registering a promising 6.6% CAGR. The tomato segment is also projected to amount for a significant share in global revenue through the forecast period.

From a geographical standpoint, the report ranks the market for hydroponics market in North America and Europe as the two leading contributors to the global market. Europe alone is expected to account for a massive 41% of the global market by the end of the forecast period, with North America continuing its promising run as well. High demand for hydroponics systems across these regions is chiefly attributed to the rising consumption of hydroponic vegetables owing to the increased level of awareness among consumers. Asia Pacific is also expected to remain a key regional market on account of its vast population and healthy outlook of development of key emerging economies.

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Vast Rise in Consumption from Mounting Global Population to Fuel Growth

A number of factors are contributing to the development of the global hydroponics market, including the mounting global population, vast benefits of hydroponics as compared to traditional methods of agriculture in terms production volumes, and shrinking arable lands. As world governments make food security one of their key priorities and the focus on environment-friendly methods of farming gain force, the demand for innovative ways of farming is expected to remain high, a potential trend expected to drive the global hydroponics market.

However, the high base investment required to set-up hydroponic systems and a general lack in awareness about its benefits could potentially hinder the global hydroponics market’s growth prospects to a certain extent over the report’s forecast period. Nevertheless, novel application areas such as customized farming and plantation of medicinal plants could open up growth opportunities.

This review of the market is based on a recent market research report by Transparency Market Research, 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.”

For the study, the market has been segmented as follows:

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)

Global Hydroponics Market: Need for Higher Yield Driving Demand, says TMR

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)