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Hydroponics Market Insights
The Global Hydroponics Market is estimated to be worth USD 9.11 Billion by 2030, registering a 20.3% CAGR during the forecast period (2023- 2030).
Hydroponics is a type of horticulture and a subset of hydroculture that involves growing plants, usually crops or medicinal plants, without soil, by using water-based mineral nutrient solutions in hydrated solvents. Terrestrial or aquatic plants may grow with their roots exposed to the nourishing liquid or in extension; the roots may be mechanically supported by an inert medium similar to perlite, gravel or any other substrates.
The increasing pressure on the agriculture industry to meet the rearing demand for grains and food in the Hydroponics Market scenario leads to the divergent search for high-yielding farming techniques, similar to precision farming and urban farming. Hydroponics is, therefore, being seemed upon as a potential solution for solving the issues followed by the growing concern about food security in the coming years, as a part of the worldwide forecast period.
Also, owing to the thrusting need for controlled environmental conditions, the effect of climatic changes can probably be balanced with the help of these systems, thereby not affecting the yearly crop production that the farmers and other associations anticipate. The CEH techniques directly affect the crop harvest cycle. Since climatic changes show a minimum effect on similar functional systems, the crops can be produced all year round, thereby again boosting production.
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The Global Hydroponics Market is divided into five regions: North America, Asia Pacific, Europe, Latin America and the Middle East & Africa.
The European region and market are likely to arise as the dominantly culturing region in the international market premises. In the Netherlands, the growers that are farmers mainly cultivate their plants in simple tunnel-like greenhouses without concerning the use of climate control technologies. There has been a sound degree of enhancement in greenhouse farming that has endorsed the growth of hydroponics in Europe.
The North American market consists of the US and Canadian markets which are expanding the population and so have been an elevation in the demand for food and other grains. This will herd the market towards growth in the period.
The global Hydroponics Market is segmented into the following types:
By Liquid Systems
By input Nutrients
By crop type Vegetables
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The global Hydroponics Market’s prominent key players are Argus Control Systems (Canada), Gobo (US), Heliospectra AB (Sweden), Logics B.V (Netherlands), Signify Holdings(Netherlands), American Hydroponics (US)., Scott’s Miracle Grow (US), Hydrodynamics International (Spain), American Hydroponics (US), and LumiGrow (US)
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