Agricoltura
Hydroponic Substrate Market to Advance at CAGR of 11.3% during Forecast Period; Growing Role of Innovative Hydroponic Systems in Sustainable Food Security Propel Growth, Notes TMR Study
ALBANY, N.Y. , Dec. 1, 2021 /PRNewswire/ -- Hydroponics systems have evolved greatly over the years, and a number of organic and inorganic hydroponic substrates have witnessed commercialization. The system is increasingly being adopted for growing a range of fruits, vegetables, and herbs in controlled environments comprising mainly greenhouses. Consequently, growers notably in urban farming are adopting hydroponic substrates to boost the yield, quality, and overcome challenges of climate change, thus underpinning the growth of the hydroponic substrate market.
Advancements in the hydroponic technologies broadly in HVAC, irrigation, and aeration systems have enabled growers make an efficient use of water, nutrients, and pesticides. Concomitantly, an array of hydroponic substrates with improved chemical and physical characteristics have risen in adoption, propelling the prospects of the hydroponic substrate market. In this regard, biodegradable, all natural, compostable substrates are gaining adoption, notably coconut oil, finds the study on the hydroponic substrate market.
The hydroponic substrate market is projected to advance at CAGR of 11.3% during forecast period of 2021-2031 and estimated to reach US$ 1.44 Bn by 2031. Developing economies notably in Asia are increasingly shifting toward reaping the benefits of hydroponics for vegetables, propelled by governments espousing modern farming methods. Europe is a highly lucrative region, with the Netherlands , Spain , and France contributing sizable revenues to the regional market.
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Some of the key players in the hydroponic substrate market are Malaysia Hydroponics, Hydrofarm LLC, The Wonderful Soils Company, JB Hydroponics B.V., Ceyhinz Link International, Inc., CANNA, Galuku Group Limited, ROCKWOOL International A/S, and Projar Group.
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