The increasing population and urbanization have led to a decline
in the arable land, globally. According to the United Nations Department of
Economic and Social Affairs, about 55% of the world’s population lives in urban
areas as of 2018, and that figure is expected to grow to 68% by 2050. Considering
the overall growth in population, up to 2.5 billion additional people are
expected to be added to urban areas by 2050. Hydroponics is the technique of
growing plants with water and nutrients without the use of soil. This technique
makes use of containers or specially designed benches with troughs to enable
the suspension of plants in water. The hydroponics market is
estimated to be valued at USD 8.1billion in 2019 and is projected to reach USD
16.0 billion by 2025, at a CAGR of 12.1% during the forecast period.
Major developmentsthat can change the business landscape as well
as market forecasts
With the increased adoption of hydroponics globally, manufacturers
and researchers are working on improving the efficiency of hydroponics
technology to increase the quality and quantity of the produce. For instance,
Preferred Produce, an organic and kosher greenhouse in Deming, New Mexico,
introduced a new patented technology that combines hydroponics with aeroponics.
It was developed in partnership with Russian scientists. This new patented
technology includes a large plastic urn filled with water and includes tubes
for circulating oxygen. This new technology was introduced due to the
restricted supply of oxygen when plants are submerged in oxygen in a
hydroponics system.
Another technology was developed by Phytoponics, a UK-based
hydroponic systemcompany. It introduced a similar technology called the
Hydrosac, in which the roots of the plant are held in contact with an
oxygenated, nutrient-rich solution. The concentration of liquid nutrients
facilitates high growth rates and resource efficiency. The Hydrosac acts like a
long thin container connected to a pump and nutrient solution reservoir.
Sitting on the fluid’s surface are integrated flotation chambers in which
plants sit within a healthy, rot preventing air gap above water.
An inbuilt aerator blows oxygen bubbles through the solution to maintain
dissolved oxygen levels for healthy roots. The bubbles burst at the surface,
spraying a nutrient-rich mist on to the plant roots,nourishing the plant to
grow strong.
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Geographical Prominence
The Asia Pacific hydroponics market has strong potential to
become the leading market in the coming years. The region has also been
susceptible to the effects of climate change that have had a profound impact on
agriculture produce. The increasing instances of droughts, floods, and other
natural disasters in countries such as India, China, and Japan have raised
concerns over food security. This has spurred the adoption of indoor hydroponic
agriculture in the region. China is projected to be the fastest-growing market
for hydroponic farming in the region and has displayed notable growth
potential. Not only in AsiaPacific but globally has the growth in hydroponics
market been observed, with the increasing investments in this market. For
instance, Larry Ellison, the founder, chairman, and CTO of Oracle, launched a
hydroponic farming start-up named Sensei in Los Angeles, which plans to build
10 greenhouses covering 200,000 square feet on the Hawaiian island of Lanai.
Also, Future Farms based in Chennai, India, has developed effective and
accessible farming kits to facilitate hydroponics. Also, there are new
technological innovations tapped by start-ups that can further propel the
growth of this market.
Coverage of new market players and change in the market share of
existing players
Company Profiles: Company profiles give a glimpse of the key
players in the market, with respect to their business overview, financials,
product offerings, and recent developments. In the new edition of the report,
Freight Farms (US), Terra Tech Corp (US), Emirates Hydroponics (UAE), Advanced
Nutrients (Canada), Emerald Harvest (US) and Green Sense Farms (US) were
profiled, as they have emerged as key players in the recent years due to
various strategic investments, agreements, and product launches performed in
the hydroponicsmarket. These strategic developments have challenged the
status-quo of industry leaders,and it was prudent to analyze the changing
business landscape. Company share analysis has been added in the new report,
which was not provided in the earlier one. Competitive leadership mapping and
competitive benchmarking of key players (crop producers and system input
providers) are also added as new segments.
Updated financial information/product portfolio of players
Newer and improved representation of financial information: The
new edition of the report provides updated financial information in the context
of the hydroponicsmarket till 2017/2018 for each listed company in the
graphical representation in a single diagram (instead of multiple tables). This
would help to easily analyze the present status of profiled companies in terms
of their financial strength;product portfolio strength;key revenue generating
region/country; business segment focus in terms of the highest revenue generating
segment; and investment on R&D activities.
