Brand Story
17 Nov 2022, 15:45 GMT+10
According to the recent FMI report, the hydroponics market size is anticipated to cross a value of US$ 58.1 Billion in 2032, growing at a CAGR of 16.2% approximately between 2022 and 2032.
A significant driver of the hydroponics market is the emerging trend for exotic vegetables for use in intercontinental cuisines. This is due to consumers' growing preference for natural and chemical-free food products. This factor accelerates the global hydroponics market growth. The developing world is focusing on technological developments to increase production and push demand for hydroponic-based products.
Ask for Report Sample@
https://www.futuremarketinsights.com/reports/sample/rep-gb-8993
Future hydroponics market growth may also be aided by rising consumer knowledge of the benefits of eating fresh veggies. During the projection year, sales are expected to increase due to the desire for exotic vegetables like red and yellow capsicum and red lettuce in fast food and retail chains like Burger King and KFC.
Since climatic changes have little effect on such systems, crops can be grown all year, increasing annual output. Salad crops are also becoming more popular, and the growing need for food security may drive global hydroponics market growth. The primary factor driving the growth of the global hydroponics market is people's shifting preferences for hydroponics as profit farming. Certain constraints and challenges will stymie overall hydroponics market growth.
Furthermore, with rapid urbanisation, the demand for hydroponically grown vegetables and crops has increased from a variety of industries, including hotels, restaurants, fast food chains, railway catering, NGOs, and defence, encouraging farmers to cultivate using hydroponics systems.
Key Takeaways from the Hydroponics Market Study:
Use promo code ->> FMITODAY to get flat 20% discount
Due to customers' greater spending power as a result of health concerns, the demand for vegetables and exotic fruits has been steadily increasing at a faster rate. Due to the fact that the majority of these products are imported, their prices are exorbitant. In order to increase the production of exotic fruits and vegetables and satisfy the rising demand, various research institutions and colleges are concentrating on setting up more straightforward hydroponics systems.
Regional Viewpoint
Increasing efforts to expand the area under commercial hydroponic systems in Europe are expected to aid hydroponics market growth. The Asia Pacific hydroponics market is expected to grow at the fastest rate due to the increasing use of hydroponics in countries.
Australia is the world's largest producer of hydroponic lettuce, and its hydroponic strawberry cultivation exceeds that of the United States. The hydroponic market is expected to grow at a rapid pace in countries where land with poor soil quality is increasing.
The Middle East and Africa hydroponics market is expected to grow rapidly, owing to the presence of countries such as Israel, where hydroponics is being used to produce a variety of citrus fruits, berries, and other commercial crops.
Talk to an Expert@
https://www.futuremarketinsights.com/ask-question/rep-gb-8993
Landscape of Competition
The global hydroponics input provider market is consolidated, with major layers accounting for the lion's share of the hydroponics market. Koninklijke Philips N.V., Argus Control Systems Ltd., American Hydroponics, Hydrodynamics International, Inc., and Lumigrow, Inc. are some of the market's major players.
The market for hydroponic systems output is highly fragmented, with the top five companies, which include Bright Farms, Inc., FreshBox Farms, Pegasus Agritech, Village Farms International, Inc., and Thanet Earth, among others, accounting for only 7.1% of the market, while the rest is split among numerous players.
Get Valuable Insights into Hydroponics Market
FMI, in its new offering, provides an unbiased analysis of Hydroponics Market presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the demand for Hydroponics based on Type (Aggregate Systems, Liquid Systems) by Equipment (HVAC, Control Systems, LED grow Lights, Irrigation Systems, Material Handing and Others) by Input (Nutrients, Rockwool) by Crop Type (Vegetables, Herbs, Fruits, Flowers) by Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa )
About the Food & Beverage Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations - the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Explore FMI's Other Extensive Reports of Food & Beverage:
North America Organic Fertilizers Market Share : As per FMI, Canada is expected to contribute over 31.2% of the market share in North America in 2021, while the U.S. organic fertilizers market will register growth at 7.1% CAGR through 2031.
Organic Fruit Powder Market Size : The market for organic fruit powder is segmented by fruit type, by process type, and by end-use
Fresh Organic Chicken Market Growth : The European region is estimated to have the largest market share by volume due to the presence of vast number of organic meat growers and eaters in the European countries.
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers-
Dubai
United Arab Emirates
For Sales Queries: [email protected]
Browse All Report: https://www.futuremarketinsights.com/reports
The post Worldwide Hydroponics Market is Estimated to Develop at a CAGR of 16.2% over the Forecast Period-2032 appeared first on Future Market Insights.
This content is published on behalf of the above source. Please contact them directly for any concern related to the above.
This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
Get a daily dose of Detroit Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Detroit Star.
More InformationMADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...
NEW YORK CITY, New York: Paramount has agreed to pay US$16 million to settle a lawsuit brought by U.S. President Donald Trump over...
LONDON, U.K.: British Prime Minister Keir Starmer won a vote in Parliament this week to move ahead with changes to the country's welfare...
WASHINGTON, D.C.: President Donald Trump will meet Israeli Prime Minister Benjamin Netanyahu at the White House on Monday. President...
(Photo credit: David Richard-Imagn Images) Riley Greene, Javier Baez and Gleyber Torres will start in the All-Star Game this month,...
(Photo credit: Eric Canha-Imagn Images) Boston right-hander Walker Buehler looks to put a horrid six-start stretch behind him when...
(Photo credit: Kamil Krzaczynski-Imagn Images) The Chicago Cubs set a franchise record by bashing eight home runs in a single game...
(Photo credit: Michael C. Johnson-Imagn Images) Felix Ojo, a five-star offensive tackle, will stay in his home state of Texas after...
(Photo credit: Ken Blaze-Imagn Images) Wenceel Perez and Zach McKinstry hit solo home runs and four Detroit pitchers combined for...
(Photo credit: Chadd Cady-Imagn Images) The Tampa Bay Rays will begin their long, strange trip to the All-Star break when they face...