Hydroponics Market: Insights & Forecast to 2026
by Mit K. SEOThe increasing
population and urbanization have led to a decline in the arable land, globally.
According to the United Nations Department of Economic and Social Affairs,
about 55% of the world’s population lives in urban areas as of 2018, and that
figure is expected to grow to 68% by 2050. Considering the overall growth in
population, up to 2.5 billion additional people are expected to be added to
urban areas by 2050. Hydroponics is the technique of growing plants with water
and nutrients without the use of soil. This technique makes use of containers
or specially designed benches with troughs to enable the suspension of plants
in water. The hydroponics market is estimated to be valued at USD
9.5 billion in 2020 and is projected to reach USD 17.9 billion by 2026, at a
CAGR of 11.3% during the forecast period.
Some
of the Prominent Key Players are:
- Signify Holdings (Netherlands)
- Argus Control Systems (Canada)
- Heliospectra AB (Sweden)
- Scotts Miracle Gro (US)
- Logiqs B.V (Netherlands)
Download
PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=94055021
Major
developments that can change the business landscape as well as market forecasts
With the increased
adoption of hydroponics globally, manufacturers and researchers are working on
improving the efficiency of hydroponics technology to increase the quality and
quantity of the produce. For instance, Preferred Produce, an organic and kosher
greenhouse in Deming, New Mexico, introduced a new patented technology that
combines hydroponics with aeroponics. It was developed in partnership with
Russian scientists. This new patented technology includes a large plastic urn
filled with water and includes tubes for circulating oxygen. This new
technology was introduced due to the restricted supply of oxygen when plants
are submerged in oxygen in a hydroponics system.
Another technology was
developed by Phytoponics, a UK-based hydroponic systemcompany. It introduced a
similar technology called the Hydrosac, in which the roots of the plant are
held in contact with an oxygenated, nutrient-rich solution. The concentration of
liquid nutrients facilitates high growth rates and resource efficiency. The
Hydrosac acts like a long thin container connected to a pump and nutrient
solution reservoir. Sitting on the fluid’s surface are integrated flotation
chambers in which
plants sit within a
healthy, rot preventing air gap above water. An inbuilt aerator blows oxygen
bubbles through the solution to maintain dissolved oxygen levels for healthy
roots. The bubbles burst at the surface, spraying a nutrient-rich mist on to
the plant roots,nourishing the plant to grow strong.
Request
for Sample Report Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=94055021
Geographical
Prominence
The Asia Pacific
hydroponics market has strong potential to become the leading market in the
coming years. The region has also been susceptible to the effects of climate
change that have had a profound impact on agriculture produce. The increasing
instances of droughts, floods, and other natural disasters in countries such as
India, China, and Japan have raised concerns over food security. This has
spurred the adoption of indoor hydroponic agriculture in the region. China is
projected to be the fastest-growing market for hydroponic farming in the region
and has displayed notable growth potential. Not only in AsiaPacific but
globally has the growth in hydroponics market been observed, with the increasing
investments in this market. For instance, Larry Ellison, the founder, chairman,
and CTO of Oracle, launched a hydroponic farming start-up named Sensei in Los
Angeles, which plans to build 10 greenhouses covering 200,000 square feet on
the Hawaiian island of Lanai. Also, Future Farms based in Chennai, India, has
developed effective and accessible farming kits to facilitate hydroponics.
Also, there are new technological innovations tapped by start-ups that can
further propel the growth of this market.
Sponsor Ads
Created on Jun 18th 2021 09:46. Viewed 157 times.