Hydroponic Vegetables Market To Surpass US$ 18.47 Bn By 2030

The global Hydroponic Vegetables Market is expected to surpass US$ 18.47 Billion by 2030, exhibiting a CAGR of 6.1 % during the forecast period (2023-2030).

The hydroponic vegetable is a process of cultivating plants in the presence of water without other media such as soil. All the required nutrients are dissolved in the irrigation water and then supplied to the water. This technique eliminates the need for soil and weeding preparation and enables the production of high-quality plants in a small area. Moreover, it also reduces soil pollution caused due to use of chemicals such as pesticides during field cultivation.

Global hydroponic vegetables market is estimated to account for around US$ 10.82 Billions in terms of value in the year 2022 and it is predicted to grow at a CAGR of 6.9% during the forecast period (2023-2030)

Market Trends

Increasing adoption of hydroponics in backyards and lawns is one of the major trends in the market across emerging regions. This is mainly for personal consumption and also to establish small stores near the house. Moreover, these vegetables are much cheaper as they are grown in small areas and require much cheaper LED lights that stimulate plant growth. Thus, the growing adoption of hydroponics in backyards and lawns is projected to bolster market growth.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/hydroponic-vegetables-market-4004

Market Takeaways

New product launches, mergers & acquisitions, strategic partnership expansion, and research & development activities for the hydroponic vegetables are key strategies adopted by players in the global hydroponic vegetables market. For instance, In June 2022, Hydroponic Systems International (Spain) HS Evolution Pot would not require packaging or plastic bags for the substrate.

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