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The global Hydroponics market has been estimated to cross USD 21203.5 million in 2016. The market is expected to register a CAGR of 6.5% during the forecast period, 2018 to 2023. Europe is traditionally the largest market that is implementing advanced techniques in hydroponics. AsiaPacific forms the second largest market for hydroponics, which is then expected to grow at a steady pace during the forecast period.
Growing Emphasis on food security drives the market
Global population is increasing exponentially, and every day nearly 200,000 people are adding up to the world food demand. . Farmland per capita in 2030 will decrease to 1800m, from the 2,200m in 2005. Adding to this, crop pests are causing 1016% of global crop losses annually, making the situation worse. To attain selfsufficiency in food, hydroponics provide an effective solution as the technology uses the space efficiently.
Hydroponic industry is the documented higher yield in comparison to traditional agricultural techniques. Along with profit farming, growing consumption of exotic, salad crops and increasing need for global food security will drive the market upwards.
Europe dominates the market share
Europe is traditionally the largest market that is implementing advanced techniques in hydroponics smart greenhouse horticulture. The matured European market demand is led by countries, such as the Netherlands, Spain and France, Holland is the largest producer of hydroponic crops and is expected to maintain the lead for the next 10 years. All the main vegetable and fruit crops are grown in European countries
Key Developments in the Market
August 2017, Lawnandgarden giant Scotts MiracleGro spent USD 136 million for Gavita, a Dutch grow lighting and Hardware Company. Through its subsidiary, Hawthorne Gardening Co., Scott has invested in companies such as Boulder's AeroGrow, an indoor gardening company and acquired California's General Hydroponics Inc. for USD 130 million. They also spent USD 77.1 million to acquire Botanicare.
Major Key Players GREENTECH AGRO LLC U.S., ARGUS CONTROL SYSTEMS CANADA, LOGIQS B.V. THE NETHERLANDS, LUMIGROW, INC. U.S., GENERAL HYDROPONICS, INC., VILLAGE FARMS INTERNATIONAL, HYDRODYNAMICS INTERNATIONAL, INC.
Reasons to Purchase this Report
To have an understanding of the fastest growing or/and largest regions during the forecast period
The report outlines drives, restraints and trends that are currently effecting the market
Analyzing various perspectives of the market with the help of Porter's five forces analysis
The report covers indetail insights about the competitors overview, company share analysis
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet in excel. Customization of the Report
Countries of client's interest can be included in report based on feasibility of report.
Companies of client's interest can be included in report based on feasibility of report.
Original Article: Global Hydropnics Market Segmented by Product, Formulation, Ingredient, Mode of Application,Application and Geography Growth, Trends and Forecasts 2018 2023 [Report Updated: 08022018] Prices from USD $4250NEXT ARTICLE
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