Hydroponics Market reaching nearly USD 20.1 Billion at 11.3 % CAGR By 2027
Hydroponics Market reaching nearly USD 20.1 Billion at 11.3 % CAGR through 2022 to 2027
Hydroponics Market Overview:
According to a new report published by Maximize Market Research titled Hydroponics Market by Intelligent Virtual Assistant, End User, Distribution Channel, Price, and Geography: Industry Analysis and Forecast (2021-2027).
Research assists decision makers in devising strategies and plans for their regions by analysing trends in the market, the industry environment, dominant characteristics of the market, and their short- and long-term ramifications.
The research analyzes the impact of COVID-19 lock-down on the income of industry leaders, followers, and disruptors. The impact varies by region and segment because lockdown was implemented differently in different locations and countries. The current short and long term market impact has been covered in the research, which will assist decision makers in preparing the framework for short and long term strategies for enterprises by region.
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Hydroponics Market Dynamics:
According to UN reports on global population, plants grown in hydroponic systems have a 20%–25% higher yield than traditional agriculture systems, with productivity being 2–5 times higher. Furthermore, due to controlled environmental conditions, the influence of climatic variations can be balanced with the help of these systems, resulting in no impact on annual crop yield. Agricultural harvesting is directly affected by CEH techniques. Weather variations have a minor impact on such systems; crops can be grown all year, resulting in increased output. In August 2019, Terra Tech Corp began construction on its brand-new facility in Santa Ana, California. The facility will be a large-scale, one-of-a-kind cannabis complex designed to increase sales by attracting a large number of customers.
The increased consumption of salad crops and exotic plants is positively fueling the global hydroponics market growth. Hydroponic gardening allows crops to grow two times faster, which is expected to drive the global hydroponics market growth during the forecast period. The increased demand for global food security is expected to drive the global hydroponics market. Increased R&D investments are also expected to drive market growth during the forecast period. Changing agricultural techniques around the world are propelling the global hydroponics market forward.
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Hydroponics Market Segmentation:
The hydroponics market is divided into two types: aggregate hydroponic systems and liquid hydroponic systems. Because it includes the most commonly used hydroponic systems such as the ebb and flow system, the water culture system, drip systems, and the wick system, the aggregate hydroponic systems segment is expected to hold the largest share in the global hydroponics market during the forecast period. In the near future, the liquid hydroponic systems segment is expected to drive the global hydroponics market. HVAC is expected to hold the largest share in the global hydroponics market during the forecast period due to its elements that are beneficial for controlling the environment for hydroponic cultivation.
Hydroponics Market Key Players:
Argus Control Systems Ltd.
General Hydroponics Inc.
Hydrodynamics International Inc
Greentech Agro Inc.
Koninklijke Philips NV.
Circle Fresh Farms
KUBO Greenhouse Projects
Scotts Miracle Gro
COVID-19 Impact Analysis on Hydroponics Market:
Consumer and demand movements, purchasing behaviour, supply chain transformations, and current market power dynamics are examined in the report. The impact of COVID-19 on the Hydroponics market, as well as insights, analyses, estimates, and predictions, are discussed in this updated report. In this report, we examine the impact of COVID-19 lockout on market leaders, followers, and disruptors. Based on the way the lockdown was implemented, the impact varies by location and region.
Hydroponics Market, Key Highlights:
The report provides analysis and projection of the Hydroponics market in terms of value.
Market drivers, constraints, and opportunities driving the growth of the Hydroponics Market are all examined in depth.
The Hydroponics Market has been segmented based on Intelligent Virtual Assistant, End User, Distribution Channel, Price, and geography (country-wise).
This report analyses the Hydroponics Market with respect to individual growth trends, future prospects, as well as the contribution of various submarket stakeholders.
Analysis and forecasts for the Hydroponics market for five key regions: North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and Latin America, as well as country-level segmentation.
A profile of key industry participants and an analysis of core competencies are included, in addition to strategic perspectives, market positioning, and analyses of core competencies.
The top companies active in the Hydroponics Market are profiled in terms of their competitive advancements, investments, strategic growth, and competitive landscape.
About Maximize Market Research:
Maximize Market Research, an industry research firm with a dedicated team of specialists and data, has conducted comprehensive research on the Hydroponics market. Maximize Market Research provides B2B and B2C research on 6,500 high-growth, emerging technologies for the chemical, healthcare, pharmaceutical, electronics, Internet of Things, food and beverage, aerospace, and defence industries. Maximize Market Research analyses the competitive landscape of sectors in addition to evaluating and estimating market size.
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