According to the new press release, "Hydroponics Market, by Equipment (HVAC, LED grow light, Communication technology, Irrigation systems, Material handling, Control systems, others), Type (Aggregate & Liquid), Crop Type (Tomato, Lettuce & Leafy greens, Cucumber, Pepper, Strawberry, Others), Input Type (Nutrients, Growth medium) – Global Revenue, Trends, Growth, Share, Size, and Forecast to 2022", published by Scalar Market Research, the global polishing market was valued at over US$ 11.31 billion in 2016, and it expected to surpass US$ 24.67 billion at a CAGR of 13.9% during the forecast period (2016-2022).
Hydroponics is one of the fastest growing sector in the field of agriculture and is expected to dominate the food production. With rising global population and increasing urbanization, new technologies such as hydroponics and vertical farming can be the solution future solution. The market size of hydroponics is estimated at US$ 11.31 billion in 2016. North America is the fastest-growing market because of favourable government policies and legalization of marijuana in many states of the U.S. High adoption of NFT and other modern technologies such as aeroponics is projected to offer lucrative opportunities in the market.
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Key findings of the report:
The hydroponics market is divided into five major geographical segments which are North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. Europe region holds the highest market share and is the largest revenue contributor of the hydroponics market. The region is estimated to continue growing because of the availability of advanced techniques used in hydroponic smart greenhouse horticulture. Some countries in the Europe region have large greenhouse cultivation areas which is a contributing factor favoring the growth of hydroponics market. Next in line is the Asia-Pacific region which is witnessing a fast-paced growth due to increase in population and rise in demand for crop quality and security. The demand for food in developing countries is boosting the hydroponics market.
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Key Market Players
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