Hydroponics Market Growth, Analysis, Growth Trends, Restraints, Market Challenges Forecast To 2024
Market Synopsis:
According to Market Research Future (MRFR)’s latest study, the global hydroponics market is set to expand at a healthy CAGR of 6.39% during the forecasted period 2015 to 2022. The valuation of the hydroponics market is expected to reach USD 27.29 Bn by the end of 2022. The depletion of natural resources and exponential increase in the population have accelerated the adoption of hydroponics. It helps in the cultivation of crops without soil by using nutrient solutions in a water solvent.
The need for a proportionate increase in food supply against the population explosion has catalyzed the growth of the Hydroponics Market Growth globally. Furthermore, it offers improved yields and high returns on investments. These factors are anticipated to significantly drive the expansion of the global hydroponics market over the next few years.
Market Segmentation:
For a comprehensive study of the hydroponics market, it has been segmented on the basis of type, which includes tomato, lettuce, cucumber, pepper, and others. The tomato segment is currently dominating the global market and is projected to retain its dominance through the forecast period.
Regional Insights:
The global hydroponics market, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. Europe has the largest market presence of hydroponics. It is projected to grow from USD 9.8 Bn in 2014 to USD 13.38 Bn towards the end of 2022 in terms of crop value. The regional market is poised to strike a CAGR of 5.28% through the forecast period.
North America is an important growth pocket and is estimated to emerge as the fastest growing regional market over the assessment period. The hydroponics market in North America is expected to expand at a CAGR of 9.1% from 2015 to 2022. The U.S. is one of the major country-level markets for hydroponics in the region.
Competitive Landscape:
Some of the key players profiled in the report are Village Farms International, Pegasus Agritech, American Hydroponics, James Foskett Farms. Terra Tech, Thanet Farms, Growlife, and General Hydroponics.
For More Information @ https://www.marketresearchfuture.com/reports/hydroponics-market-2453
Industry News:
In October 2018, Box Greens, a Miami-based company that retrofits containers into portable hydroponic farms, has introduced Farm-in-a-Box Concept to Miami.
In November 2018, the Drew Mathieson Center, the U.S., has planned on developing its workforce training through hydroponics.
In November, Australia-based THC Global Group Limited has changed its name from The Hydroponics Company Ltd. The change of name was approved on the 15th of November, 2018 with the ticker remaining as THC.
In November 2018, Prince Edward, Earl of Wessex, inaugurated the 'The Earl of Chester Hydroponics Unit’ by the Bridge Community Wellness Gardens and Farm. It is the first of its kind in Cheshire, North-West of England.
In November 2018, IKEA, a dealer in home accessories, has new hydroponic cultivation kit for indoor cultivation of herbs and vegetables.
Infographic Images Related Report @ https://www.marketresearchfuture.com/infographics
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
