Press Release
Press Release
The global market for hydroponics is being driven by the rising awareness regarding its benefits and the increasing global demand for food and agricultural produce, as a result of the rising population. In addition, the increased investments in the agricultural sector in order to promote the concept of sustainable cultivation are also expected to bolster the market growth in the coming years. Moreover, the demand for offseason cultivation of fruits and vegetables is also expected to contribute to the market development. The rising demand for high crop yield, coupled with the increasing inclination towards sustainable farming with reduced pollution as well as improved quality produce is expected to positively impact the market growth in the forecast period.
The market players are increasingly investing in the development of quality cultivation mechanism in order to enhance the cultivation of crops. In March 2023, Lettuce Grow launched the Farmstand Nook, a new addition to its flagship hydroponic gardening system. It is designed to grow the produce indoors, in tight spaces and across seasons. It includes a smaller tank and fully integrated grow lights. Further, in February 2023, Rising Farms, a Mexican-based high-tech indoor farming company, revealed its plans to launch a new facility and expand its indoor farming space. Such developments are expected to positively impact the growth of the hydroponics industry in the forecast period.
The major players in the global hydroponics market are Argus Control Systems Limited, Heliospectra AB, Freight Farms, Inc., Lettuce Grow LLC, and RISING FARMS, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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