Hydroponic System Market: A system for cultivation and nourishment of plants
- Hydroponic system is a method used for cultivating plants in a water-based nutrient rich solution without soil. In this method, the root system is promoted using an inert medium such as a Rockwool, perlite, coconut fiber or peat moss, clay pellets, or vermiculite.
- It also provides oxygen, which is essential for growth of plants. Hydroponic system is also considered as a branch of hydroculture.
- This system aids in the nourishment of plants by providing essential mineral nutrients dissolved in water instead of soil.
Awareness and popularity about hydroponic systems and rise in food demand and security to drive the global hydroponic system market
- Hydroponic systems are widely used across the globe due to its numerous benefits and maximum yield of production. These systems reduce the risk of diseases and pests that are commonly found in soil. They are effective in cultivation of plants in grains and pebbles.
- Additionally, cultivation of plants through hydroponic systems on rooftops, patios, and indoors is gaining popularity with users. These factors are anticipated to support the growth of the hydroponic system market.
Rise in food demand and security to drive the hydroponic system market
- Rapid global population growth is likely to increase the demand for food. Availability of limited land for farming is expected to impact on supply of food across the globe. Moreover, crop pests deteriorate the quality and quantity of crop and this factor is projected to drive the adoption of hydroponic systems.
- Furthermore, introduction of innovative solutions by manufacturers for cultivation of plants using hydroponic systems is estimated to fuel the growth of the hydroponic system market during the forecast period.
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Scarcity of Water hampers the growth of hydroponic system market
- Hydroponic system is likely to face issues in regions with scarcity of water resources. Stringent laws laid down by regional regulatory bodies for limited usage of water is expected to restrain the expansion of the hydroponic system market. Moreover, high cost required for the installation of this system and its overall maintenance is also likely to pose a challenge in the growth of the hydroponic system market.
Europe to hold a leading share of global hydroponic system market
- Geographically, the global hydroponic system market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the hydroponic system market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the hydroponic system market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America hydroponic system market is segmented into Brazil, and Rest of South America.
- Europe dominates the market of hydroponic systems, as Europe is still the largest market for hydroponically produced crops in the world. Countries such as the Netherlands, Spain, and France have large areas under greenhouse cultivation.
- However, Asia Pacific is anticipated to grow at a fastest CAGR growth rate during the forecast period. Rising in awareness about hydroponic systems is projected to drive the market in this region.
Key players operating in the hydroponic system market:
Hydroponic system is a niche market with presence of numerous regional small and medium players. This is expected to increase the competition in the market in the near future.
Manufacturers operating in the hydroponic system market emphasize on the development of cost-effective solutions to meet the requirement of users
Entry of new players in the market, including start-ups and solution providers through investments in advanced technologies is likely to propel the market growth during the forecast period A few of the key players operating in the global hydroponic system market are:
- Argus Control Systems Ltd
- Village Farms International Inc.
- Aero Farms
- Hydrodynamics International Inc.
- Hortisystems UK Ltd.
- Kubo Group
- Circle Fresh Farms
- Terra Tech Corp.
- Logiqs BV
- American Hydroponics, Inc.
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