Market Segmentation Application, Technology, and Market Analysis for Hydroponics Research Report Till 2027 – market research blog
Hydroponics techniques have the particular ability to produce any type of harvest all year round, at any time of the year. Inconsistent climatic conditions place a heavy burden on the supply chain of the global food market. It is estimated that the increasing adoption of hydroponics systems by farmers in several parts of the world to ensure year-round harvests and alleviate food shortages at the regional level will propel the growth of the global hydroponics market over the forecast period. In addition, the year-round and constant supply of hydroponic fruit / vegetables ensures constant food prices, regardless of poor climatic conditions.
Key insights from the hydroponics market study
- To reduce the high energy costs associated with growing hydroponics, many companies are launching new LED lights that use less electricity and are easy on hydroponics’ wallets. For example, in March 2017, HydroGarden, a UK-based manufacturer of hydroponics equipment, entered into an agreement with Plessey, a leading manufacturer of solid-state lighting. Plessey manufactures the Hyperion series of LED units, which enable around 40% energy savings compared to sodium grow lights.
- In order to maintain freshness and take advantage of the locally grown attractiveness quotient, restaurants are increasingly using on-site hydroponic and aeroponic gardens for growing vegetables and herbs. This trend is growing in popularity and is expected to continue to be adopted in grocery stores and grocery chains in many developed countries around the world.
- Microgreens are also known as sprouts, defined as young or baby vegetables that are primarily used to enhance the sensory appeal of dishes. The use of hydroponically grown baby squash is also seeing high demand from retail and hospitality industries. As a result, a number of farmers are adopting hydroponic farming to take advantage of this increasing demand for such products in markets in developed countries, and this trend is expected to continue over the forecast period.
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“The introduction of hydroponics in lawns and backyards of homes is a major trend in developed countries. Much of these products are for personal consumption, but in some cases are sold through local farmers markets and to unorganized small shops in the neighborhood. Hydroponic home grown vegetables are much cheaper because they are grown in small batches, ”says FMI analyst.
Consumers are becoming more aware of healthy lifestyles and nutritious foods, which is why they prefer natural and organic foods. Consumers also prefer high quality and sustainable vegetables and fruits, due to which the use of the hydroponic cultivation method is increasing as it ensures harvest year round. Several restaurants use the hydroponic garden for the production of vegetables and fruits, as this helps to maintain freshness over a long period of time. Plants grown hydroponically are in high demand from retailers and restaurants. As a result, a number of farmers are turning to hydroponic farming to take advantage of this increasing demand for such products in markets in developed countries, and this trend is expected to continue over the forecast period.
Some of the major players in the hydroponics market are Heliospectra AB, LumiGrow Inc., Green Sense Farms Holdings, Inc., Koninklijke Philips NV, Scotts Miracle-Gro Co., Argus Control Systems Ltd., Emirates Hydroponics Farms, Platinum Produce Co. , Hollandia Produce, LP, Eden Farms, AMCO Produce Inc. and many other players.
Several leading players in the hydroponics market are taking over smaller companies to expand their geographic footprint and product portfolio. The companies invest in adapting advanced hydroponic farming technologies to produce the organic and natural food products.
- In August 2016, Philips signed a contract with Innovatus, Inc. (Japan), one of the world’s largest vertical farms for the use of LED lighting. The factory grows five types of lettuce, green leaf and romaine lettuce and has advanced, automatically controlled devices that monitor everything from air temperature, humidity and CO2 concentration to nutrient fluid.
- In June 2018, the company acquired Sunlight Supply, Inc., enhancing Scotts Miracle-Gro Co.’s ability to improve performance while meeting the demands of the rapidly evolving hydroponic market. It also builds the company’s confidence in the future of the growing hydroponic market and creates a unique competitive advantage for the company.
Gain valuable insight into the hydroponics market
Future Market Insights offers in its new offering an unbiased analysis of the global hydroponics market and presents historical demand data (2014-2018) and forecast statistics for the period 2019-2029. The study provides convincing insights into the hydroponics market based on plant species (vegetables, fruits, flowers as well as herbs and vegetables), solutions (organic and inorganic), cultivation type (indoor and outdoor species), distribution channel (B2B and B2C). , in seven major regions.