Hydroponics Market to Grow at 6.5% CAGR during 2017-2025

Posted by mandar on March 16th, 2021

The global hydroponics market has been estimated to be competitive in nature. It is expected to experience intense competition over the next few years, notes a new market research study by Transparency Market Research. The report forecasts that the increasing number of market players and emergence of cutthroat competition are expected to improve the growth of global hydroponics market in the next few years to come. 

Some of the noted players that are operating in the global hydroponics market are Bright Farms Inc., Village Farms International, Inc., Thanet Earth Ltd., AMCO Produce Inc., and Soave Enterprises LLC. These companies are underscoring the need for innovation and product development thereby generating favorable growth opportunities for global hydroponics market in the forthcoming years. Besides, rising numbers of acquisitions and mergers are further expected to fuel growth of global hydroponics market over the forecast timeframe. 

In accordance with the report by Transparency Market Research, the global hydroponics market will clock 6.5% CAGR from 2017 to 2025. The global hydroponics market is estimated to be valued at US.1 bn by the end of 2025. 

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High Yield in this form of Cultivation to Drive Market Growth 

Increased produce of hydroponic vegetables has stimulated the growth of global hydroponic vegetable market. As more and more people get to know about the benefits of this type of cultivation over conventional method of cultivation, the global hydroponics market is ought to grow. Hydroponics use less of land, fertilizers, and water and also serve as a simple solution to the issue of climate change. 

Intake of contaminated or diseased plants can lead to diseases such as Salmonella poisoning, E. coli and, others. Rising awareness amongst the consumers is propelling the demand for vegetables and crops that are cultivated in a controlled and safe environment.  Such awareness fuels the growth of global hydroponics market. 

Hydroponic cultivation produces high yield as compared to the usual rural cultivation system. Therefore, high yield, thus produced, plays a key role in the stimulating growth for global hydroponics market in the next few years to come. Substantial rise in the vibrant, colourful vegetables along with expanding requirement for nutritional food are estimated to drive global hydroponics market. 

On the other hand, the need for high base speculation to generate hydroponics framework is regarded as one of the main factors that would hamper the growth of the global hydroponics market.