The global Hydroponics market was valued at USD 1.23 billion in 2016 and is projected to reach USD 2.33 billion by 2025, growing at a CAGR of 7.40% from 2017 to 2025.
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Hydroponics is a new cultivation method that employs mineral nutrient solutions in place of soil. The rising problem of loss of essential nutrients from soil is expected to boost demand for these techniques. Although limited types of crops can be cultivated using this method the growing food demand is expected to boost its application.
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1. Market Drivers
1.1 Rising food demand
1.2 Higher yields compared to traditional methods
2. Market Restraints
2.1 High setup costs
The global Hydroponicsmarket is segmented on the equipment, type, input, crop, and region.
1. By Equipment:
1.2 Control Systems
1.3 LED Grow Light
1.4 Material Handling
1.5 Communication Technology
1.6 Irrigation Systems
2. By Type:
2.2.3 Nutrient Film Technique
3. By Input:
3.1 Growth Medium
4. By Crops:
4.3 Leafy and Lettuce
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. Koninklijke Philips NV
2. Hydrofarm Inc.
3. Argus Control Systems Ltd.
4. Hydrodynamics International Inc.
5. Heliospectra AB
6. Greentech Agro LLC
7. Logiqs BV
8. American Hydroponics Inc.
9. General Hydroponics Inc.
10. Lumigrow Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Hydroponics Marketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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