Global Hydroponic Market Growing at A CAGR of 11.7% During The Forecast Period

The global hydroponic market was valued at USD 8.2 billion in 2018 and is expected to reach USD 16.9 billion in 2026, growing at a CAGR of 11.7% during the forecast period. 

Hydroponics is referred to as a subset of hydroculture, one of the world's fastest-growing soil-less farming practices using mineral nutrient alternatives in soil-free water. The growth of the hydroponic market is primarily driven by the increasing food demand and security and helps in conserving natural resources are the key factors driving the growth of this market.

However, lack of government policy and high capital investment hamper the growth of the Hydroponic industry. On other hand the increase in demand for Organic Food and demand for hydroponic grown Cannabis may also provide a profitable chance for market players in the near future. Based on type, liquid segment expected to dominate the market throughout the forecast period Based on the type, the global hydroponic market has been segmented liquid and aggregate system. The liquid segment is growing rapidly in the Hydroponic market with the highest CAGR of 8.9% in the forecast period. Compared to the closed aggregate system model, liquid systems indicate greater productivity and hence most farmers have been installing liquid systems for their crop production.

Get Sample Copy of this report at: https://www.ozonemarketreports.com/sample-request/global-hydroponic-market-industry-outlook-2016-2026/154298

In addition, liquid systems are used widely in the manufacturing of lettuce and also help tomatoes in various areas. The plant's roots are constantly or intermittently immersed in a nutrient solution. Nutrient film technique (NFT) is one of the most widely used liquid hydroponics in which nutrients are dissolved in water and passed through the plants. In 2018, liquid hydroponic systems accounted for nearly 17 percent of the market. The market for this segment is anticipated to expand at a quicker rate compared to aggregate systems.

Based on application, the vegetable segment is expected to grow at a CAGR of around 7.1% throughout the forecast period

Based on the application, the market has been segmented into fruits, vegetable, and flowers. The vegetable type accounts of the largest share in the market and are expected to grow at a CAGR of around 7.1% during the forecast period.

The market is driven by increasing disease burden of chronic pain and growing need for effective pain management remedies on the global scale. Compared to traditional farming, vegetables cultivated using hydroponics are known to grow quicker and stronger as the right nutrients are supplied straight to the roots of crops.

Browse Full Report at: https://www.ozonemarketreports.com/consumer-goods-and-services/global-hydroponic-market--industry-outlook-2016-2026/154298

The cost of capital involved in the hydroponic set-up is high, the crops produced are sold at premium rates and, according to industry experts, and the price of the ranges of products is equal to the prices of organic products. In approximately 10 percent of the land region and 5 percent of the water volume needed for crop manufacturing, productivity from both aquaponics and hydroponic farming can be achieved. When practiced in a controlled setting, these methods promote crop development throughout the year.

Europe to dominate the Hydroponic market throughout the forecast period Europe accounted for nearly 38% share of the global Hydroponic market in 2018 and is expected to dominate the market throughout the forecast period. In 2018, Europe was the biggest hydroponic crop producer. It remains the biggest market for plants generated hydroponically.

Traditionally, Europe has been at the forefront of sophisticated hydroponic intelligent greenhouse horticulture methods. Countries like the Netherlands, Spain, and France have big greenhouse-growing regions. In the Netherlands, however, growers mostly grow their crops in easy tunnel-like greenhouses without the use of climate control techniques. The advance in greenhouse farming has supported the development of hydroponics in Europe.

Avail a UPTO 40% Discount on Purchase at: https://www.ozonemarketreports.com/discount-request/global-hydroponic-market-industry-outlook-2016-2026/154298

Company Profiles and Competitive Intelligence:

The major players operating in the global hydroponic market are

·        Aerofarms (US),

·        Terra Tech Corp (US),

·        Hydroponic Farms (UAE),

·        Triton Foodworks Ltd. (India),

·        Urban cultivator (Canada),

·        Village Farms (Canada),

·        Green Sense Holdings (US)

·        among others.

Contact Us:

Name: Steven Samuel

Email - info@ozonemarketreports.com

Phone - +91 9370882135

Website: https://www.ozonemarketreports.com/