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 Equipment, By Input, By Crop Types, By Country, Competition, Forecast & Opportunities, 2024”, the Europe hydroponics market is expected to grow at a CAGR of around 12% during the forecast period. 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.
The Europe hydroponics market is segmented based on origin, farming, type, equipment, input, 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 equipment, the market can be categorized into HVAC, LED Grow Light, Control Systems, Irrigation Systems, Material Handling and Others. The LED grow lights are expected to dominate the market, attributable to the use of light spectrum emitted by these lights to be effective in promoting plant growth. Based on input, the market can be divided into nutrient and growth media, of which the former segment is expected to dominate the market during forecast period as it forms an integral part of all the different kinds of hydroponics systems. Based on crop type, the market can be fragmented into vegetables, fruits and flowers. The vegetables segment dominates the market since higher yield is obtained using this technique as compared to the traditional ones.
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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.
market in Europe is expected to witness substantial growth during the forecast
period owing to the 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 Equipment, By Input, 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.