Hydroponic System Market: A system for cultivation and nourishment of plants

  • Hydroponic system is a method used for cultivating plants in a water-based nutrient rich solution without soil. In this method, the root system is promoted using an inert medium such as a Rockwool, perlite, coconut fiber or peat moss, clay pellets, or vermiculite.
  • It also provides oxygen, which is essential for growth of plants. Hydroponic system is also considered as a branch of hydroculture.
  • This system aids in the nourishment of plants by providing essential mineral nutrients dissolved in water instead of soil.

Awareness and popularity about hydroponic systems and rise in food demand and security to drive the global hydroponic system market

  • Hydroponic systems are widely used across the globe due to its numerous benefits and maximum yield of production. These systems reduce the risk of diseases and pests that are commonly found in soil. They are effective in cultivation of plants in grains and pebbles.
  • Additionally, cultivation of plants through hydroponic systems on rooftops, patios, and indoors is gaining popularity with users. These factors are anticipated to support the growth of the hydroponic system market.

Rise in food demand and security to drive the hydroponic system market

  • Rapid global population growth is likely to increase the demand for food. Availability of limited land for farming is expected to impact on supply of food across the globe. Moreover, crop pests deteriorate the quality and quantity of crop and this factor is projected to drive the adoption of hydroponic systems.
  • Furthermore, introduction of innovative solutions by manufacturers for cultivation of plants using hydroponic systems is estimated to fuel the growth of the hydroponic system market during the forecast period.

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Scarcity of Water hampers the growth of hydroponic system market

  • Hydroponic system is likely to face issues in regions with scarcity of water resources. Stringent laws laid down by regional regulatory bodies for limited usage of water is expected to restrain the expansion of the hydroponic system market. Moreover, high cost required for the installation of this system and its overall maintenance is also likely to pose a challenge in the growth of the hydroponic system market.

Europe to hold a leading share of global hydroponic system market

  • Geographically, the global hydroponic system market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
  • North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the hydroponic system market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the hydroponic system market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America hydroponic system market is segmented into Brazil, and Rest of South America.
  • Europe dominates the market of hydroponic systems, as Europe is still the largest market for hydroponically produced crops in the world. Countries such as the Netherlands, Spain, and France have large areas under greenhouse cultivation.
  • However, Asia Pacific is anticipated to grow at a fastest CAGR growth rate during the forecast period. Rising in awareness about hydroponic systems is projected to drive the market in this region.

Key players operating in the hydroponic system market:

Hydroponic system is a niche market with presence of numerous regional small and medium players. This is expected to increase the competition in the market in the near future.

Manufacturers operating in the hydroponic system market emphasize on the development of cost-effective solutions to meet the requirement of users

Entry of new players in the market, including start-ups and solution providers through investments in advanced technologies is likely to propel the market growth during the forecast period A few of the key players operating in the global hydroponic system market are:

  • Argus Control Systems Ltd
  • Village Farms International Inc.
  • Aero Farms
  • Hydrodynamics International Inc.
  • Hortisystems UK Ltd.
  • Kubo Group
  • Circle Fresh Farms
  • Terra Tech Corp.
  • Logiqs BV
  • American Hydroponics, Inc.

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Global Hydroponic System Market: Research Scope

Global Hydroponic System Market, by Type

  • Closed System
  • Open System

Global Hydroponic System Market, by Technique

  • Wick System
  • Deep Water Culture (DWC) System
  • Flood & Drain  (Ebb and Flow)  System
  • Nutrient Film Technique (N.F.T)
  • Drip System
  • Aeroponics

Global Hydroponic System Market, by Cultivation Medium

  • Grains & Pebbles
  • Foam Matrix
  • Fibrous Organic Material

Global Hydroponic System Market, by Crop Type

  • Tomato
  • Lettuce & Leafy Vegetables
  • Pepper
  • Microgreens
  • Cucumber
  • Other Crop Types

Global Hydroponic System Market, by Distribution Channel

  • Online Channel
  • Offline Channel

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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