Europe Hydroponics Market to Surpass $ 14 Billion by 2024
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 Crop Types, By Country, Competition, Forecast & Opportunities,
2024”, the Europe hydroponics market is projected to cross
$ 14 billion by 2024. 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.
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The
Europe hydroponics market is segmented based on origin, farming, 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 crop type, the market can be fragmented
into vegetables, fruits and flowers. The vegetables segment dominates the
market since 10 times 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 rising 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 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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