The global hydroponics market has been estimated to be competitive in nature. It is expected to experience intense competition over the next few years, notes a new market research study by Transparency Market Research. The report forecasts that the increasing number of market players and emergence of cutthroat competition are expected to improve the growth of global hydroponics market in the next few years to come.
Some of the
noted players that are operating in the global hydroponics
market are Bright Farms Inc., Village Farms International,
Inc., Thanet Earth Ltd., AMCO Produce Inc., and Soave Enterprises LLC. These
companies are underscoring the need for innovation and product development
thereby generating favorable growth opportunities for global hydroponics market
in the forthcoming years. Besides, rising numbers of acquisitions and mergers
are further expected to fuel growth of global hydroponics market over the
forecast timeframe.
In
accordance with the report by Transparency Market Research, the global
hydroponics market will clock 6.5% CAGR from 2017 to 2025. The global
hydroponics market is estimated to be valued at US$12.1 bn by the end of
2025.
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High
Yield in this form of Cultivation to Drive Market Growth
Increased
produce of hydroponic vegetables has stimulated the growth of global hydroponic
vegetable market. As more and more people get to know about the benefits of
this type of cultivation over conventional method of cultivation, the global
hydroponics market is ought to grow. Hydroponics use less of land, fertilizers,
and water and also serve as a simple solution to the issue of climate
change.
Intake of
contaminated or diseased plants can lead to diseases such as Salmonella
poisoning, E. coli and, others. Rising awareness amongst the consumers is
propelling the demand for vegetables and crops that are cultivated in a
controlled and safe environment. Such awareness fuels the growth of
global hydroponics market.
Hydroponic
cultivation produces high yield as compared to the usual rural cultivation
system. Therefore, high yield, thus produced, plays a key role in the
stimulating growth for global hydroponics market in the next few years to come.
Substantial rise in the vibrant, colourful vegetables along with expanding
requirement for nutritional food are estimated to drive global hydroponics
market.
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On the
other hand, the need for high base speculation to generate hydroponics
framework is regarded as one of the main factors that would hamper the growth
of the global hydroponics market.
Nevertheless,
increase in vertical cultivation is expected to increase the production of
lettuce every year. It is predicted to create promising growth opportunities
for the companies during the forecast period.
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Europe to Continue with Market
Dominance over the Forecast Period
In terms of
geography, the global hydroponics market is divided into North America, Europe,
Latin America, Asia Pacific, and the Middle East and Africa. Of these regions,
Europe is foreseen to account for the largest market share in the global
hydroponics market during the forecast period. It is expected to account for
41% of the total market share by the end of 2025. North America will follow
Europe in terms of market share and is anticipated to obtain substantial
incremental opportunity in terms of revenue by the end of forecast period. This
trend in America and Europe is due to the rising demand for different types of
hydroponic vegetables in both the regions.
Following
the footsteps of Europe and North America, Asia Pacific is foreseen to register
robust CAGR in terms of market value during the forecasted timeframe. Middle
East and Africa and Latin America are predicted to follow Asia Pacific closely
with regards to CAGR and market value in the forecast period.
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