Rising acceptance of CEA fuels demand in hydroponics market

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Rising burden on agricultural industry to meet the growing demand for food and grains is fueling the need for high yielding farming methods and techniques. These techniques may include emerging methods such as urban farming and precision farming. Growing acceptance of controlled environment agriculture along with rising advancements in farming technologies is triggering the growth in the global hydroponics market. Critical point of view towards outdoor food due to COVID-19 pandemic has resulted in increased adoption of urban farming techniques that use hydroponic systems. This trend is expected to fuel the demand in the global hydroponics market in coming years. Segments in the global hydroponics market based by product type are liquid hydroponic systems and aggregate hydroponic systems.

Plants and crops grown through hydroponic systems have found out to produce higher yield as compared to the traditional farming practices. Systems in the global hydroponics market are used in controlled environment which means that the effects of the climate change can also be balanced with the help of these systems. This is expected to positively impact the thriving global hydroponics market in coming years. However, high capital investment required for large scale farms to implement these systems remains a huge barrier for the global hydroponics market. On the other hand, ease of operation and low installation cost offered by products in global hydroponics market to small and mid-sized farmlands can foster the market growth in coming years. Segments in the global hydroponics market based on the application include vegetable, crop, and fruit.

Key regions assessed in the professional intelligence report on the global hydroponics market include Europe, North America, Central and South America, and Asia Pacific (including China, Japan, India, and South East Asia). Europe is expected to acquire a leading position in the global hydroponics market owing to high reliance of the regional farmers on advanced farming technologies, large number of vegetables grown in the region, and high awareness regarding benefits of using hydroponic systems among regional farmer population. Legalization of marijuana in various countries across the world has also created huge demand for cannabis cultivation methods. Increasing adoption of indoor cannabis cultivation techniques is expected to fuel the demand in global hydroponics market in years to come. However, lack of government support in developing and underdeveloped nations can slow down the adoption of hydroponic systems and hamper the growth of global hydroponics market in near future.

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Some of the most prominent vendors covered in the business intelligence report on the global hydroponics market are Village Farms International, Heliospectra AB, Lumigrow, Inc., Greentech Agro, LLC, Hydrofarm, Inc., HydroWholesale Inc., Eurofresh Farms, Argus Control Systems Ltd., Logiqs B. V., American Hydroponics, Inc., Koninklijke Philips NV, and BetterGrow Hydro. Players and manufacturers in the global hydroponics market are focused on producing innovative hydroponic technologies to meet the rising demand from global agriculture industry. They are witnessed heavily investing in research and development activities to aid farmers using their products to enhance both quantity as well as quality of their yield.

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Source: MarketWatch
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Source: MarketWatch