United Kingdom Hydroponics Market to Grow with a CAGR of 4.41% through 2028
Growth in research and development activities is expected
to drive the United Kingdom Hydroponics Market growth in the forecast period,
2024-2028.
According to
TechSci Research report, “United Kingdom Hydroponics Market– By Region,
Competition, Forecast and Opportunities, 2018-2028F”, the United Kingdom
Hydroponics Market stood at USD182.38 million in 2022 and is anticipated to
grow with a CAGR of 4.41% in the forecast period, 2023-2028. The initiatives
taken by government based on hydroponics has led to favorable market conditions
for the United Kingdom Hydroponics Market. Several factors contribute to the
growth of various hydroponics market products.
The
UK government has launched several funding programs specifically designed to
support startups and cover the expansion costs of hydroponic farm businesses.
This forward-thinking initiative aims to not only provide financial assistance
but also encourage and inspire more entrepreneurs to venture into this
innovative method of farming, which has proven to be highly efficient and
sustainable.
In
addition to the support for hydroponics, the government is actively considering
policy proposals under the new Environmental Land Management (ELM) scheme to
promote and facilitate the development of aquaponics. This exciting method
combines the principles of hydroponics and aquaculture, creating a symbiotic
system where plants and fish thrive together. By integrating these two
practices, aquaponics presents a unique opportunity to maximize resource
utilization and create a more sustainable and eco-friendly approach to food
production.
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"United Kingdom Hydroponics Market”
Research
and development activities have not only expanded hydroponic farming to
non-traditional crops but have also revolutionized the cultivation of medicinal
plants. Traditionally grown in soil, these plants are now successfully thriving
through hydroponics, offering a promising avenue for hydroponic farmers to
explore new opportunities and generate additional revenue streams. This
advancement in hydroponic techniques showcases the potential to expand the
application of this method to various other crops, further revolutionizing the
agricultural industry.
The United
Kingdom Hydroponics Market is segmented in type, crop type, regional
distribution, and company.
Based on its crop
type, the tomato segment held the largest share in the market. In the United
Kingdom, tomatoes are extensively cultivated hydroponically due to their
remarkable growth rate and minimal water needs compared to conventionally
farmed tomatoes. Hydroponic tomato production by indoor farmers involves the
use of rock wool, perlite, or coconut coir as growing materials. These
materials provide optimal support and nutrient retention for the plants,
ensuring healthy and thriving tomato crops all year round. With the efficient
use of resources and advanced cultivation techniques, hydroponic tomato farming
has emerged as a sustainable and high-yielding method in modern agriculture.
Based on region,
London segment is expected to grow during the forecast period.
London's
position as a global hub for investment and innovation plays a pivotal role in
its remarkable success in hydroponics. The city's vibrant ecosystem attracts a
myriad of businesses and visionary entrepreneurs who are at the forefront of
cutting-edge technologies, particularly in the agricultural technology (AgTech)
sector. This dynamic landscape fosters a culture of continuous innovation and
robust investment, propelling the growth and advancement of hydroponics in
London to new heights. With a thriving community of experts and a rich network
of resources, the city stands as a beacon of excellence in the field, setting
the stage for further advancements and breakthroughs in this ever-evolving
industry.
Major companies
operating in United Kingdom Hydroponics Market are:
- HydroGarden Limited
- Signify Commercial UK Limited
- Hydrohobby Hydroponics Limited
- GroWell Hydroponics & Plant Lighting
Limited
- Green Spirit Hydroponics
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“Growing
application of hydroponics in various end user industries are key drivers of
the hydroponics market. Growth in competitive landscape and presence of
well-established companies in the market who are dedicated to enhance their
productivity of hydroponics with every passing year are anticipated to register
an impressive growth to United Kingdom Hydroponics Market in the forecast
period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Hydroponics
Market By Type (Aggregate Systems, Liquid Systems), By Crop Type (Lettuce,
Sweet Potato, Tomato, Cucumber, Melon, Others), By
Region, By Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of United Kingdom 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 United Kingdom Hydroponics Market.
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