New York, Sept. 21, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Hydroponics Global Market Report 2022” – https://www.reportlinker.com/p06320087/?utm_source=GNW
The global hydroponics market is expected to grow from $11.33 billion in 2021 to $12.62 billion in 2022 at a compound annual growth rate (CAGR) of 11.34%. The hydroponics market is expected to reach $18.64 billion in 2026 at a CAGR of 10.26%.
The hydroponics market consists of sales of hydroponics solutions by entities (organizations, sole traders, and partnerships) that refers to the method of growing plants on a water-based, nutrient-rich solution.This approach allows roots to absorb nutrients from the water and meet their growth needs.
Furthermore, this method can grow plants in liquid, sand, or gravel by adding nutrients. Farmers and growers widely use hydroponics to grow vegetables, herbs, fruits, and flowers hydroponically.
The main types of hydroponics systems include aggregate systems and liquid systems.The aggregate system refers to a solid, and inert medium used to provide support growth of plants.
Both open and closed aggregate systems are used based on dependence over-recovery or reuse of surplus amount of the solutions. They are used for indoor and outdoor farming of vegetables, fruits, and flowers.
Western Europe was the largest region in the hydroponics market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the hydroponics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The hydroponics market research report is one of a series of new reports that provides hydroponics market statistics, including hydroponics industry global market size, regional shares, competitors with a hydroponics market share, detailed hydroponics market segments, market trends and opportunities, and any further data you may need to thrive in the hydroponics industry. This hydroponics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The growing demand for exotic vegetables is expected to propel the hydroponics market.Rapid growth in urban population among emerging economies, and the growing establishment of gourmet restaurants across the globe are contributing to rapid growth in consumption of exotic vegetables such as mushrooms, tangy kiwis, green olives, and fresh broccoli, dragon fruit, and others.
The increasing demand for exotic vegetables is expected to boost demand for a hydroponic system, as the commercial farmers involved in this sector are investing in advanced plantation equipment such as hydroponics to reduce operational expenses and increase profits.For Instance, In September 2021, according to estimates of agro farming, the Indian exotic vegetable market is expected to increase from 332 million metric tons by 2020 to 432 million metric tons by 2026.
Therefore, the increasing demand for exotic vegetables is expected to boost demand for hydroponics systems during the forecast period.
Technological advancement is a key trend gaining popularity in the hydroponics market.Major companies operating in the hydroponics market are focused on providing technologically-advanced solutions to meet end-customer demands and strengthen their market position.
These companies are implementing next-generation hydroponics solutions and technologies into their services, such as nutrient film technique, Ebb and Flow System, wick system, communication technology, sensors, irrigation systems, automation, robotics, artificial intelligence system, machine learning, computer vision, and others to grow plants in small spaces.For instance, In November 2021, Iron Ox, US-based robotics and artificial intelligence-based farming company launched Grover, an autonomous mobile robot to assist farmers with monitoring, watering, and harvesting a wide variety of crops.
Through automation and computer vision, Grover autonomously navigates the need of plants related to sunlight, nutrition, and water.
In August 2021, Cargill, a US-based food and beverage manufacturing company, partnered with AeroFarms to improve cocoa bean yields by using more climate-resilient farming practices.With this partnership, these two firms will test various indoor growing technology such as aeroponics and hydroponics, light, carbon dioxide, irrigation, nutrition, plant space, and pruning to identify the best growth environment for cocoa trees.
Aerofarms is a US-based farming company specialized in agriculture, aeroponics, hydroponics, leafy greens, clean technology, sustainable, vertical farming, and circular economy.
The countries covered in the hydroponics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06320087/?utm_source=GNW
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