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The Global Hydroponics Market is segmented by type (aggregate hydroponic system and liquid hydroponic system); by crop type (tomato, lettuce & leafy vegetables, pepper, cucumber, and others). A detailed geographical analysis covering more than 16 countries are also included.
Fastest Growing Market:
The Global Hydroponics Market is projected to register a CAGR of 8.48% over the forecast period (2020-2025). In 2019, North America is the largest geographic segment of the market studied and accounted for a share of around 35% of the overall market.
Hydroponics involves the process of growing plants by using mineral nutrient solutions in sand, gravel, or liquid, without using soil. Due to the increasing success rates associated with the commercial hydroponics industry and the increasing difficulty of growing crops on soil, the hydroponics market is expanding exponentially. Along with the market expansion, manufacturers of hydroponic equipment are focusing on the development of new efficient systems.
The Global Hydroponics Market is segmented by type into aggregate hydroponic system and liquid hydroponic system. By crop type market is segmented into tomato, lettuce & leafy vegetables, pepper, cucumber, and others. Based on geography the market is segmented into North America, Europe, Asia-Pacific, South America and Middle East and Africa.
|Liquid Hydroponic System|
|Lettuce & Leafy Vegetables|
|Other Crop Types|
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The demand for exotic fruits and vegetables has been constantly growing at a higher rate due to the increased purchasing power of consumers. The cost of these exotic products is high, as most of these products are imported, and thus, several research institutions and universities are focusing on establishing more simplified hydroponics systems, in order to accelerate the production of exotic fruits and vegetables and meet the escalating demand. Increasing awareness among the consumers of eating fresh vegetables will also fuel the market in future. Demand for Exotic vegetables like red and yellow capsicum, red lettuce in retail company like Burger king,KFC,Pizza is anticipated to boost the sales during the forecast period.
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The demand for fresh vegetables and fruits in the region is driving the market demand for hydroponic operations. At present, the hydroponics farms preset in the region are family or small business operations which covers 1/8 – 1 acre. Roof top hydroponic gardens in urban setups like New York is helping the market grow further. The future growth of the hydroponics market in the region depends greatly on the development of hydroponic production systems that are competitive in cost with systems of open field agriculture. Hydroponic production has gained popularity among commercial vegetable producers since it is not a labor-intensive method to manage larger areas of production, and an efficient method to control inputs and manage facilitates for disease and pests. As the hydroponics eliminate the need for soil fumigants and can increase yields of popular vegetables, farmers in the region are anticipated to adopt hydroponics as a popular cultivation method. Increasing adoption of hydroponics as cultivation method is anticipated to drive the market growth.
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The global hydroponics market is a fragmented market, with various small and medium-sized companies coining a very minimal share . This has resulted in very stiff competition. The development of regional markets and local players in different parts of the world is the major factor for the fragmented nature of the market. Europe and the Asia Pacific are the two regions showing maximum competitor activities. In October 2018, Box greens, a miami based company that introduced farms-in-a-box which retrofits cointainers into portable hydroponics farms. Similarly, in Novemeber 2018, IKEA, a dealer in home accessories ,developed new hydroponic cultivation kit for indoor cultivation of herbs and vegetables.
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat from Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.1 Aggregate Hydroponic System
184.108.40.206 Closed System
220.127.116.11 Open System
5.1.2 Liquid Hydroponic System
5.2 Crop Type
5.2.2 Lettuce & Leafy Vegetables
5.2.6 Other Crop Types
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle East & Africa
18.104.22.168 Saudi Arabia
22.214.171.124 United Arab Emirates
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Hydroponic Crop Producers
184.108.40.206 Bright Farms
220.127.116.11 Circle Fresh Farms
18.104.22.168 Hydrodynamics International Inc.
22.214.171.124 Village Farms International Inc.
126.96.36.199 Pegasus Agritech
6.3.2 Input Providers
188.8.131.52 Argus Control Systems Limited
184.108.40.206 Hortisystems UK Ltd.
220.127.116.11 Kubo Group
18.104.22.168 GreenTech Agro LLC
22.214.171.124 Heliospectra AB
126.96.36.199 American Hydroponics, Inc.
188.8.131.52 Lumigrow Inc.
184.108.40.206 General Hydroponics Inc.
220.127.116.11 Terra Tech
18.104.22.168 Thanet Earth
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET