Hydroponics Market Impact and Opportunities During Coronavirus Lockdown and Forecast Assessment 2020-2026 | Heliospectra AB (Sweden), Scotts Miracle Gro (US), American Hydroponics (US)

Report Ocean releases its latest report on the global Hydroponics Market. The burden on the agriculture industry to meet the rising demand for grains and food leads to the hunt for high-yielding farming methods, such as accuracy farming and urban farming. Hydroponics thus is looked upon as a possible solution for the rising distress about food security in the upcoming years.

The global Hydroponics Market is forecast to grow at a compound annual growth rate (CAGR) of 11.1% during the forecast period from 2020-2026.

Global Hydroponics Market Overview:

Hydroponic farming is a technique of rising plants without soil, where the soil is substituted by a mineral solution injected around the plant roots. Herein, the plant roots are underwater under the chemical solution and checked occasionally to safeguard that proper chemical composition is maintained for growth. As such, the hydroponics method eliminates the risk of ailments that are triggered by soil organisms. Additionally, the hydroponically grown plants harvest a higher yield than alike plants grown in soil because of good control over the nutrients.

The acceptance of substitute farming methods for cannabis farming is rapidly increasing, due to the ratification of marijuana in countries like South Africa, Canada, the Czech Republic, and others. Growing awareness among consumers regarding the effects of pesticides and artificial maturing agents over their well-being is expected to motivate the request for hydroponics, as the method eliminates the need for such products, thereby providing nutritionally superior vegetables. Low installation cost and ease of operation of these systems are also predictable to increase the adoption in near future.

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Growth Drivers 

Higher yield as compared to conventional agriculture practices

Growing demand for maintainable and safe farming performance & advanced yield of crops grown under hydroponic facility over old-style farming are the main factors driving the global hydroponics market. Moreover, growing consumer requests for pesticide-free, organic food in tier-1 cities are driving the growth of institutions of hydroponics farms. These hydroponics farming techniques hamper the usage of synthetic pesticides, growth hormones, and antibiotics, allowing the produce to meet organic standards. Also, owing to controlled ecological conditions, the result of climatic changes can be stable with the help of these systems, thereby not affecting the annual crop production. CEH techniques directly affect the crop harvest cycle. Since climatic changes show a negligible effect on such systems, crops can be produced all year round, thereby again increasing the produce.

Higher Consumption of Salads and Vegetables

The demand for interesting fruits and vegetables has been regularly growing at an advanced rate due to the improved purchasing power of customers. The price of these exotic products is high, as most of these products are imported, and thus, numerous research institutions and universities are concentrating on founding more easy hydroponics systems, to hasten the production of exotic fruits and vegetables and meet the escalating demand. Increasing alertness among the consumers of eating fresh vegetables will also fuel the market in the future. Request for Exotic vegetables like red and yellow-red lettuce in Retail companies like KFC, Pizza, Burger King will drive the market.

The reports include an in-depth analysis of macroeconomic indicators, market trends, and underlying factors, as well as market attractiveness by segment. The reports include a qualitative impact map of different market factors. COVID-19 (Corona Virus) had an impact on the product industry chain based on upstream and downstream markets, on regions and countries, and the future development of the industry.

The reports on the Global Hydroponics Market provide readers with a better understanding of the market and competitive landscape to support better decision-making. Report contents include an overview of participants, revenue results, sales volume, gross margin, capital investment, and global Hydroponics Market growth rates.

Researchers gather and validate the market size and demand information with market experts. They also examine the geographical distribution of the Hydroponics Market. Top manufacturers, distributors, traders, and dealers use these market studies to gain insights into the industry. It will provide an overview of the product, the market, the driving forces, the risks and opportunities, and the research findings.

Impact Analysis of COVID-19

A detailed study of Covid-19 impacts on the Hydroponics Market is provided in the report.

The World Health Organization has declared Covid-19 a global health emergency due to its impact on thousands of people worldwide. The Coronavirus disease, which already affects these groups, had affected Hydroponics Market segments.

While the death toll continues to climb, the economic damage is already evident, making this the world's worst economic shock in decades.

Chaos can lead to several undesirable outcomes, including restaurant closings, flight cancellations, travel restrictions, indoor event venues losing permits, customer confidence eroding, stock markets fluctuating, and citizens becoming anxious.

The report extensively examines the fundamental aspects of the Global Hydroponics Market, including its future prospects and competitive landscape. The Porter's Five Forces analysis of the Hydroponics Market provides insight into the factors influencing its growth. This market study breaks down the Hydroponics Market into segments, regions, and players in order to present an accurate picture of the current market environment. The study also includes macroeconomic and microeconomic analyses. Several graphs and charts appear in the report effectively.

Regional Overview

An analysis of the Hydroponics Market at the country level looks at segments classified as potentially high-growth, countries with the largest market share, and countries with the best growth prospects. Among the regional breakdowns in the Hydroponics, Market study are North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), Other countries.

Leading Competitors

The leading prominent competitors in the global Hydroponics Market are:

Signify Holdings (Netherlands), Argus Control Systems (Canada), Heliospectra AB (Sweden), Scotts Miracle Gro (US), American Hydroponics (US), LumiGrow (US), Emerald Harvest (US), Hydroponic Systems International (Spain), Advanced Nutrients (Canada), Vitalink (UK), Hydrodynamics International (Spain), Logiqs B.V (Netherlands), Grobo (US), and American Hydroponics (US) and other prominent players. 

Scope of the Report

The global Hydroponics Market segmentation focuses on:

By Type

Ø  Aggregate Systems

Ø  Liquid Systems

 By Crop

Ø  Vegetables

Ø  Fruits

Ø  Flowers

        
By Equipment

Ø  HVAC

Ø  Led Grow Light

Ø  Irrigation Systems

Ø  Material Handling

Ø  Control Systems

By Input

Ø  Nutrients

o   NPK

o   Trace Minerals

o   Others

Ø  Grow Media

o   Rockwool

o   Perlite & Vermiculite

o   Coco Fiber

o   Others

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