The global market for hydroponic vegetable has been gaining significant impetus over the past few years. The decrease in the production cost and the timely yield of healthy crops is the main factor behind the significant growth of this market. Apart from this, the technological advancements in farming methods is expected to boost this market over the next few years remarkably. According to Transparency Market Research (TMR), the global market for hydroponic vegetable will gain from the increasing trend of GMO seeds and crops in the years to come.
Research analysts at TMR are answering some of the important questions pertaining to the global market for hydroponic vegetables in this blog post:
What are the main factors that are influencing the global hydroponic vegetable market?
The guaranteed yield and production of exotic variety of vegetables in no growing zones is making the global hydroponic vegetable market very attractive for the manufacturers looking to invest in the food industry. Hydroponic vegetables are expected to witness a high rise in their consumption across the world due to the changing trends in the food and beverage markets, directed towards healthy and fresh products. Apart from this, low production cost and the decrease in food miles are also driving this market towards growth.
On the other hand, as organic vegetables are not produced by hydroponic system, the increasing shift of consumers towards organic food products may hamper the growth of this market in the near future. However, the production of exotic varieties of vegetable near the selling point, reducing the food files, subsequently helping in bring down the selling price of the product and resulting in increased consumption, will support the growth of this market in the near future.
Which of the geographical segment will dominate the global market?
North America and Europe has surfaced as the leading regional markets for hydroponic vegetables across the world. The presence of highly health conscious people is reflecting positively on the demand for natural and fresh farm products. The increasing demand for exotic food products is boosting the hydroponic vegetable markets in the Middle East and Africa and Asia Pacific. Going forward, North America, closely followed by Europe, is anticipated to remain dominating the global market for hydroponic vegetables over the coming years.
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What are the key strategies leading players in this market are opting for?
The leading players in the global hydroponic vegetable market, such as Growponics Ltd, AeroFarms, Freight Farms, Edenworks, AmHydro Inc, BrightFarms Inc, Hortimex Holland BV, Thanet Earth Ltd., Topterra Holland, HotiNed, Metazet/FormFlex, Swissradies, and StarFarm Pakistan (Pvt.) Ltd., are increasingly focusing on technological advancements in their products in order to sustain in this highly competitive market. Price differentiation is also surfaced as one important strategy taken up by these players to strengthen their position in this market.