Global Hydroponic Growth Medium and Nutrient Market 2017-2021
About Hydroponic Growth Medium, and Nutrients
The science of soil-less farming and gardening is called hydroponics. It involves growing healthy vegetables and plants without the use of a traditional soil medium by using a nutrient like a mineral-rich water solution. Commercial and residential users are the prime end-user segments for the global hydroponic growth medium and nutrients market. The demand for crops has been increasing steadily due to constant growth in the global population. In addition, the soil is losing its nutrients due to pollution, leading to barrenness and decreased productivity.
Technavio’s analysts forecast the global hydroponic growth medium, and nutrients market to grow at a CAGR of 13.27% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global hydroponic growth medium, and nutrients market for 2017-2021. To calculate the market size, the report considers the sales and value and exclude new installations, shipments, replacement, spares, aftermarket, and services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Hydroponic Growth Medium, and Nutrients Market 2017-2021
Technavio recognizes the following companies as the key players in the global hydroponic growth medium, and nutrients market: Advanced Nutrients, Bertels B.V., General Hydroponics, and HydroGarden Wholesale Supplies
Other Prominent Vendors in the market are: Atami B.V, Biobizz, Botanicare, CANNA, FoxFarm Soil & Fertilizer Company, Grow Technology, and Plant Magic Plus.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing market for hydroponic growth medium and nutrients. The hydroponics market has seen its growth due to the ease it provides. Hydroponics provides more amount of yields compared to the traditional farming methods. It does not allow any kind of ripening of fruits and vegetables artificially.”
According to the report, one of the major drivers for this market is Several advantages of hydroponics over soil plantation. Hydroponic gardening is an advanced way to grow vegetables, fruits, and herbs under totally controlled conditions. The most significant benefit of using hydroponic system is it has complete control over nutrient balance. Pests and diseases are drastically reduced in hydroponics. In this technique, the soil is replaced with one of the common hydroponic growing media with sufficient nutrients. Eliminating soil also eliminates different soil borne diseases and pests that plague traditional gardening. This process not only saves the time of weeding, pest control, and watering but also speeds up the plant growth.
Further, the report states that one of the major factors hindering the growth of this market is Highly fragmented market due to unorganized market players. The global hydroponic growth medium and nutrients market is highly fragmented because of the presence of several organized as well as small unorganized players. Due to the fragmented nature of the market, no single player has a major share in it. Moreover, the unorganized market is another challenge that does not allow for strong influence on the overall revenue. It also becomes difficult for global players to expand geographically owing to the presence of various well-established local brands in the market. The market is highly competitive with participants ranging in size from small companies, which focus on a single type of product, to large multinational corporations, which manufacture and supply different hydroponic growth medium and nutrients. The competitors in the market vary by region and product, and the vendors compete primarily based on parameters like price, product design, brand name recognition, and service.
Advanced Nutrients, Bertels B.V., General Hydroponics, HydroGarden Wholesale Supplies, Atami B.V, Biobizz, Botanicare, CANNA, FoxFarm Soil & Fertilizer Company, Grow Technology, and Plant Magic Plus.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook