The consistent growth of the market can be attributed to several factors such as, higher yield as compared to conventional agricultural practices and hydroponic systems that help in the conservation of natural resources. Moreover, hydroponic systems are anticipated to further contribute to the substantial growth of the hydroponics market globally between 2019 and 2030.
Market Industry Reports (MIR) has published a new report titled “Hydroponics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2030.” According to the report, the global hydroponics market accounted for over US$ 7.6 (estimated) billion in 2019. It is anticipated to grow at a CAGR of 11.6% from 2019 to 2030.
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Some of the prominent players in the global hydroponics market include LumiGrow, Heliospectra AB, The Scotts Company LLC, LOGIQS B.V., JAYA Hydroponic Farms, AmHydro, Hydrodynamics International, Hydroponic Systems, Emerald Harvest, and Advanced Nutrients, among others.
Europe is estimated to grow at the highest CAGR during the forecast period owing to application of advanced techniques of hydroponic in smart greenhouse horticulture. For instance, Netherlands, Spain, and France have large areas under greenhouse cultivation which have played a crucial role in contributing to the demand for hydroponics market in this region. Moreover, as consumers are getting conscious of the standard differences in greenhouse-grown vegetables and conventional vegetables, the demand for hydroponics farming is increasing. Such factors are anticipated to present a lucrative growth scenario for the hydroponics market in this region.
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The Research Provides Answers To The Following Key Questions:
-What is the estimated growth rate and market share and size of the Hydroponics Market for the forecast period 2019 – 2030?
-What are the driving forces in the Hydroponics Market for the forecast period 2019- 2030?
-Who are the prominent market players and how have they gained a competitive edge over other competitors?
-What are the market trends influencing the progress of the Hydroponics Market industry worldwide?
-What are the major challenges and threats restricting the progress of the industry?
-What opportunities does the market hold for the prominent market players?
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