The hydroponics is one of the widely emerging soil-less farming practises on the global scenario. The hydroponics is a modern farming technique compared to the traditional practises of farming which uses nutrient solutions and minerals consisting of water without soil. The report scope is widely categorized on the basis of its components which include equipment’s and crop types. Moreover, the market revenue estimates and forecast includes the hydroponic types consisting nutrients and growth medium.The global hydroponics market is expected to have a CAGR of 16.8% during the forecast period 2016-2023. The hydroponics market is on an upward trend due to enhancing demand for efficient farming techniques across the globe. The drivers for global hydroponics market are the changing lifestyle of the individuals and rise in the demand of fresh and healthy fruits & vegetables. The major factors which are responsible for driving the market are the increasing demand for fresh fruits and vegetables and hydroponics has higher yields as compared to traditional agriculture practices.
The expansion of hydroponic market can be seen by looking at the economics of greenhouse. Along with this, the increasing urban population with shrinking rural population, keen to buy fresh foods puts stress for increasing the production for hydroponic market. The hydroponic production is increasing at a decent pace estimated its growth by 80% globally. The hydroponic market is organized to grow safe and sustainable food production of fruits and vegetables. Hydroponic market with its benefits of higher yields along with lower inputs, water quality and improved soil and safety of food are compelling to change traditional agriculture technique.
The mergers, acquisition and expansions made by the companies are the key strategies which are adopted to enhance the global hydroponic market. The challenges faced by hydroponic market are high initial costs. It is very expensive to start a hydroponic operation. Depending upon the level of technology, greenhouse can cost more than 20 times more than soil cultivation and more with some modern technologies. Along with this energy is another issue for the hydroponic manufacturers. Alternatives for it includes CHP- combined heat and power mainly in areas with considerable concentration for greenhouse such as Netherlands and Turkey. Combined heat and power produces electricity form waste heat by other industrial process. Cogeneration saves about 30% of energy cost by burning the natural gas to create heat and electricity and using carbon dioxide to supplement growth of the plant.
Source: OBRC Analysis.
The report on global hydroponics market includes equipment, type, input and crop.
Equipment is further segmented into:
- HVAC
- LED Grow Light
- Communication Technology
- Irrigation Systems
- Material Handling
- Control Systems
- Other Equipment
Type is further segmented into:
- Liquid hydroponic system
- Aggregate hydroponic system
- Open Systems
Input is further segmented into:
- Nutrients
- Growth Medium
Crop is further segmented into:
- Cucumber
- Tomato
- Lettuce & Leafy Vegetables
- Pepper
- Strawberry
- Other Crops
The global hydroponics market report has been geographically segmented into:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, ROAPAC)
- Europe (UK, France, Germany, roe)
- Rest of World
The hydroponic market is segmented on the basis of equipment, on the basis of type, on the basis of input, and on the basis of crop. Based upon the equipment the market is segmented by LED grow light, HVAC, irrigation systems, communication technology, material handling, control systems, and other equipment. Based upon the type the hydroponic market is segmented by liquid hydroponic system, aggregate hydroponic system, open systems. Aggregate hydroponic system is further sub segmented by closed systems (EBB and flow system, water culture system, drip systems, the wick system). Liquid hydroponic system is also sub segmented by floating hydroponic, Aeroponics, and nutrient film technique. Based upon the input the market is segmented by growth medium and nutrient. Based upon the crop the market is segmented by cucumber, strawberry, pepper, tomato, Lettuce and leafy vegetable and other crops.
On the basis of the geography the offshore support vessel market is mainly segmented into North America, Latin America, Europe, APAC and the rest of the world. As in 2015, Europe had the largest market share and is expected to be the leader during the forecast period. Factors responsible for the market growth in this region are higher yields as compared to traditional agriculture, lack of arable land, and unfavourable climate conditions for agriculture are some of the reasons for fuelling the market growth in this region. North America is also expected to be the fastest growing hydroponics market after Europe during the forecast period due to legalization of medical marijuana. Industries are jumping in to commercially manufacture the plant hydroponically in countries like US and other states of America.
The major market players of the global hydroponics market are:
- ARGUS CONTROL SYSTEMS LTD.
- GENERAL HYDROPONICS, INC.
- HYDRODYNAMICS INTERNATIONAL, INC.
- KONINKLIJKE PHILIPS NV
- GREENTECH AGRO LLC
- OTHERS
These companies use various strategies such as merger & acquisition, collaboration, partnership and product launch. Whereas, merger & acquisition is the key strategy adopted by the companies in the hydroponics market.
For Example; Greengro Technologies Inc. acquired biodynamicsllc in 2016. Greengro Technologies Inc. is a provider of eco-friendly green technologies and hydroponic greenhouse systems. Biodynamics llc is an Akron, Ohio-based leader in renewable energy, consumer hydroponics and a leader in controlled environmental agriculture (CEA).
The report covers detailed analysis of companies which comprises of overview, SCOT analysis, product portfolio, strategic initiative, strategic analysis, competitive landscape and market share analysis in hydroponics market.
Key reasons to buy the report:
- The report includes market estimation, forecast and analysis for the year 2016-2023
- Report includes detailed analysis of different segments such as equipment type and types of hydroponics.
- Identify and understand the strength, opportunities, challenges and threat of global hydroponics market.
- Covers details analysis of Porters 5 force model and other strategic models and also covers revenues, market share analysis, and competitive landscape analysis of major players of global hydroponics segment market.
- Detailed analysis of various regulatory policies which affect the global hydroponics market.
How we are different from others:
At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global hydroponics market offers detailed analysis of strategic models such as investment vs. adoption model, see saw analysis and others strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses competitive landscape of the hydroponics market, with giving extensive SCOT analysisof key companies.
Key findings of the global hydroponics market:
- Europe held highest revenue share in 2016.
- HVAC is the major segment of equipment.
- Tomato is the major segment of crop type segment
- Acquisition is the key strategy adopted by players of global hydroponics market.
