Hydroponics Market is Projected to Register a CAGR of 6.5% during 2017-2025 | FMPosted by Vijay Kundekar on March 2nd, 2020 With the IT industry heavily investing into devising new technologies to disrupt the customary systems, agriculture has been a broad segment expecting a revolution. Advancements in agricultural infrastructures such as vertical farming have received a significant amount of traction with its virtue to cultivate plants by optimizing the space, especially in urban areas. Since, the optimum utilization of space limits the soil and water requisites, hydroponic systems are deemed as a designated solution underpinning the growth of the crops and vegetables. As a result, the global hydroponics market is poised to gravitate to the new highs with an estimated CAGR of 6.5% and market valuation worth US.1 Bn by the end of 2025. With hydroponics, the environmental settings are completely favourable to the crops, thereby, curtailing any fertilizer or pesticide requisites. With enhanced efficiency and a sterile environment, the hydroponics cultivation procedures produce higher yields with lesser space. This has intensified the adoption rate of this methodology, which has fortified the growth of the global hydroponics market. Proliferation in the Adoption Rate of Hydroponics Procedure, owing to the Rising Health Concerns Increasing inclination of consumers towards green food has been witnessed which encourages the demand for the growth of vegetables. With unpredictable weather conditions and lack of water, fertilizers, and soil availability, cultivation of crops was deemed challenging for the farmers. With the advent of advanced agricultural infrastructures and procedures, hydroponics is gaining widespread popularity with its ability to address the need for green vegetables. Conventional cultivation methodologies have proved ineffective as the plants are prone to get infected by pathogens and cause E.coli and Salmonella poisoning. Surging demand for clean eating has been prevalent among the consumers, owing to the susceptibility of health threats posed by these contaminated plants. This has intensified the adoption of advanced procedures for the production of vegetables such as lettuce, tomatoes, cucumber, spinach, and peppers among the manufacturers of the hydroponics market. Hydroponics make judicious utilization of water, soil, and fertilizers, which is yet another reason for the proliferated adoption of the modernistic procedure. A host of these factors are envisaged to reflect positively on the growth of the global hydroponics market through the forecast period. Lettuce to Hold a Significant Share of 32.9% in the Global Hydroponics Market among other Vegetables The hydroponics market has been fragmented into spinach, cucumber, tomatoes, lettuce, and peppers, among others. Surging inclination of consumers towards green vegetables, on the back of rising health consciousness is a crucial driver for the growth of the hydroponics market. In addition to this, lettuce is preferably consumed by the urban population. With the rising rate of urbanization, the trends of lettuce utilization are expected to grow simultaneously, boosting the growth of hydroponics market by holding a notable share of about 32.9% through the forecast period as compared to the other segments of the hydroponics market. European Hydroponics Market Set to Procure About 40% of the Total Share through 2025 Based on the geographies, hydroponics market can be segmented into Asia Pacific, Latin America, the Middle East and Africa, North America, and Europe. Out of these regions, Europe is anticipated to lead the global hydroponics market in the forthcoming years, on the back of numerous growth drivers. Surging concerns of the environmental degradation caused by greenhouse effects have realized the value of hydroponic cultivation procedures and vertical farming in this region. In addition to this, demand for a variety of vegetables in this region has made it crucial to adopt hydroponics procedures to achieve higher yields, which is expected to fortify the growth of the European hydroponics market. Apart from Europe, a rapid rise in the rate of urbanization happening in North America is said to trigger the demand for exotic vegetables, thereby contributing to the growth of the hydroponics market in this region More from FMI’s Food and Beverages Market Intelligence:
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