Organic Food is fastest growing segment fueling the growth of Hydroponic Vegetables Market
Growing demand for fresh and nutrient-rich produce is fueling the adoption of hydroponic farming techniques globally. Year-round production with precision agriculture ensures steady availability of vegetables and reduces dependence on seasonal produce. Hydroponics requires use of greenhouses for controlled climate, which protects crops from unfavorable weather, pests, and diseases. It provides higher yields throughout the year as crops can be grown vertically or horizontally optimizing space utilization. Additionally, the method uses less fertilizers, pesticides and herbicides compared to traditional agriculture, thus making food production more sustainable. The lack of soil also prevents contamination of waterways and groundwater from agricultural run-offs. These benefits are expected to drive greater use of hydroponics in commercial vegetable farming over the forecast period
Key Takeaways
The global Hydroponic Vegetables Market is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing demand for organic and pesticide-free vegetables. North America dominates the market currently due to growing adoption of indoor vertical farming in the region.
Regional analysis: North America is expected to continue dominating the hydroponic vegetables market during the forecast period. Heightened awareness towards the benefits of organic and toxin-free foods encourage setting up controlled farms using advanced technologies. Meanwhile, Asia Pacific exhibits fastest growth owing to rapid urbanization and rising health consciousness in countries like China and India.
Key players: Key players operating in the hydroponic vegetables market are AMCO Produce Inc., Eden Farms, Hollandia Produce, L.P., Bright Farms Inc, Soave Enterprises LLC., Village Farms International, Inc., Platinum Produce Company, Millennium Pacific Greenhouses Ltd., Emirates Hydroponics Farms, Thanet Earth Ltd. These players focus on innovating farming techniques to increase yields and gain competitive edge.
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