Europe Hydroponics Market to Grow at Swift Pace During Forecast Period
Higher yield as compared to traditional agricultural methods
is expected to drive the growth of Europe hydroponics market through 2024
According to
TechSci Research report, “Europe Hydroponics Market By Origin, By Farming, By
Type, By Equipment, By Input, By Crop Types, By
Country, Competition, Forecast & Opportunities, 2024”, the Europe hydroponics market is expected to grow at a CAGR
of around 12% during the forecast period. Hydroponics systems are witnessing
adoption owing to the increased emphasis on food safety, high profit margins
and higher produce obtained using this technique. Further, nutritionally
superior variety of products are obtained using this technique. However,
lack of scientific knowledge regarding the soil-less agriculture system and
high initial cost are likely to hamper the growth of the market during forecast
period.
The
Europe hydroponics market is segmented based on origin, farming, type,
equipment, input, crop type, region and company. Based on type, the market can
be bifurcated into aggregate and liquid hydroponics systems. The liquid
hydroponics systems are expected to grow at a higher pace during the forecast
period, owing to their efficiency, low cost, higher productivity, among others.
Based on equipment, the market can be categorized into HVAC, LED Grow Light,
Control Systems, Irrigation Systems, Material Handling and Others. The LED grow
lights are expected to dominate the market, attributable to the use of light
spectrum emitted by these lights to be effective in promoting plant growth.
Based on input, the market can be divided into nutrient and growth media, of
which the former segment is expected to dominate the market during forecast
period as it forms an integral part of all the different kinds of hydroponics
systems. Based on crop type, the market can be fragmented into vegetables,
fruits and flowers. The vegetables segment dominates the market since higher
yield is obtained using this technique as compared to the traditional ones.
The market for
hydroponics is fragmented at the global level, with multiple innovative
start-ups and emerging companies entering the hydroponics market. Major
companies have been trying to enter this space, either by developing hydroponic
components or by investing in the technology for crop production. Argus Control
Systems Ltd., General Hydroponics Inc., Greentech Agro LLC, Logiqs B.V., Heliospectra
AB, Thanet Earth Ltd., Lumigrow Inc, Signify N.V., Jones Food Company, Koninklijke
Philips NV and others are some of the leading players operating in Europe Hydroponics
market. Companies operating in the market are using organic strategies such as
product launches, mergers and collaborations to boost their share.
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“The hydroponics
market in Europe is expected to witness substantial growth during the forecast
period owing to the adoption of controlled environment agriculture for
horticultural crops and increasing development of new advanced technologies
that target specific crop needs. Additionally, increasing awareness among
consumers about the quality difference in greenhouse-grown vegetables and hydroponics culture
is further fueling the hydroponics market in the region.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based Global
management consulting firm.
“Europe Hydroponics Market By Origin, By Farming, By
Type, By Equipment, By Input, By Crop Types, By
Region, By Company, Forecast & Opportunities, 2024” has evaluated the future growth potential of Europe Hydroponics market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in Europe Hydroponics market.
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