Global hydroponic vegetables market expected to reach USD 228.24 million by 2024, growing at a CAGR of around 6.5 % between 2018 and 2024. Hydroponic crops also include food crops and other decorative crops such as flowers, but mostly hydroponic crop growers have started to grow decorative crops besides edible crops.
The report covers forecast and analysis for the hydroponic vegetables market globally. The study provides historical data from 2015 to 2017 along with a forecast from 2018 to 2024 based on revenue (USD million). The study includes drivers and restraints for the hydroponic vegetables market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the hydroponic vegetables market on a global level.
In order to give the users of this report a comprehensive view of the hydroponic vegetables market, we have included a detailed value chain analysis. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the hydroponic vegetables market has also been included in the study. The study encompasses a market attractiveness analysis, wherein application segments are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research& development, product and regional expansion of major participants involved in the market on a regional basis.
The study provides a decisive view of the hydroponic vegetables market by segmenting the market based on product type, distribution type, and by origin. All the application segments have been analyzed based on present and the future trends and the market is estimated from 2018 to 2024. Key product segments covered under this study include spinach, tomatoes, peppers, lettuce, cucumber, and others. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The report also includes detailed profiles of end players such as Greentech Agro LLC, Argus Control Systems, Logiqs B.V., Lumigrow, Inc., General Hydroponics, Inc., Village Farms International, Hydrodynamics International, Inc. The detailed description of players includes parameters such as company overview, financial overview, business strategies and recent developments of the company.
This report segments the global hydroponic vegetables market as follows:
Global Hydroponic vegetables Market: Type Analysis
Global Hydroponic vegetables Market: Distribution type Analysis
Global Hydroponic vegetables Market: Regional Segment Analysis
The hydroponic vegetables are produced using hydroponics. The most commonly grown crops are lettuce, tomatoes, peppers, beans, and cucumbers, among others and these crops are called as hydroponic crops.
Hydroponic crops also include food crops and other decorative crops such as flowers, but mostly hydroponic crop growers have started to grow decorative crops besides edible crops. In addition, hydroponic vegetables are grown by using the unique method of gardening. In this method, plants are grown with help of nutrition solution and mineral water without soil and continually recycled throughout the system.
Hydroponic vegetables market is a rapidly growing industry with demand arising from various regions of the world. Rising population, change in lifestyle of the population, and increasing consumption of fresh & healthy fruits & vegetables are some of the factors responsible for market growth. Moreover, hydroponics has the higher yield than traditional agricultural method. It also provides higher production with lower inputs without compromising safety and quality of food. The hydroponic market is safe and durable for the production of fresh fruits and vegetables.
The hydroponic vegetables market is categorized on the basis of vegetable type, distribution channel, and origin. On the basis of vegetable type, the market is classified into tomatoes, spinach, lettuce, peppers, cucumber, and others. In 2017, lettuce vegetable segment is anticipated to account for over 32.9% of global hydroponic vegetables market.
On the basis of the distribution channel, the global hydroponic vegetables market is categorized into unorganized small stores, grocery stores, hypermarket or a supermarket, whole food and specialty stores, distributors, bulk suppliers, and others. Hypermarket or a supermarket segment is projected to dominate the global hydroponic vegetables market. On the basis of origin, the market is further bifurcated into the conventional segment and natural & organic segment. The conventional segment accounts for a relatively high revenue share over the forecast period.
Advancement in the traditional harvesting technology & advanced greenhouse horticulture are the factors anticipated to boost the growth of Europe hydroponic vegetables market during the forecast year. However, in the Netherlands, most of the part is covered by greenhouse cultivation. The cultivation technique is very simple without climate control technology. Hydroponics has developed well in European countries where during the winter season traditional harvesting is nearly impossible. Rising consumption of fresh fruit and vegetables has increased globally which is projected to grow positively in the coming few years. Some of the factors which are directly affecting the growth of the market are a drop in costs of the exotic vegetables in a local market.
In North America and Europe, the increased demand for fresh farm foods is boosting the growth of the market during the forecast period due to the preference for natural and fresh farm products.
The key players in this industry are Hydrodynamics International, Inc, General Hydroponics, Inc., Argus Controls, BrightFarms and KUBO Greenhouse Projects, Thanet Earth, Pegasus Agritech, James Foskett farms, Valoya, Logiqs B.V, Greentech Agro, Llc, Village farms international, Hydrofarm, Inc., HortiMaX, Lumigrow, Inc., Heliospectra AB, Circle Fresh Farms, and Growlife. Other players include Terra Tech., FormFlex, Koninklijke Philips, and American Hydroponics, Inc., among others.