- Governments gearing toward sustainable and environment-friendly crop cultivation systems, spurring global investments in hydroponic substrate market
- New hydroponics to boost yield of fruits, vegetables, and herbs in controlled environment to underpin an efficient utilization of farming resources
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.
Advancements in Hydroponic Substrates to Meet Food Security Demands: The number of malnourished people in the world has risen in recent years. In this backdrop, precision agricultural practices have generated massive attention of industry players and governments alike around the globe. Thus, there is a need for modern cultivation systems notably in urban farming such as greenhouses, which can help economies move toward food security, thereby boosting the hydroponic substrate market. Hydroponic systems have shown vast potential in boosting crop growth and elevating productivity for the farmer especially for high-value cash crops. Furthermore, hydroponics substrates have been useful in controlling environmental conditions on one hand, while enabling recycling of nutrients on the other.
Adoption of Precision Agriculture Practices Bolsters Market Prospects of Hydroponic Substrates: The role of hydroponic systems in precision agriculture has grown. The demand for substrates with better nutrient retention and chemical stability has thus, grown to boost the yield and help growers manage crop uniformity, and prevent or reduce waterborne diseases. Innovations in hydroponics have enabled growers to harness controlled environment greenhouse systems to reduce soil and make an efficient utilization of nutrient and water. This eventually offers optimal growth condition to boost the crop quality.
Rockwool Gathering Traction among Growers: Rockwool is one of the common types of inorganic substrates, the others being perlite and vermiculite, and clay pellets. Rockwool is gathering traction as a substrate with low bulk density, excellent porosity, attractive aeration, and high water-holding capacity. Moreover, it is bereft of pollutants and harmful bacteria. It has been widely adopted, and held a major share of the market in 2020, notes the study on the global hydroponic substrate market.
The loss of arable land over the past few decades and significant disruption caused by climate change to the natural ecosystem globally have spurred interest in modern agriculture systems for ensuring food security. This is one of the key drivers of the hydroponic substrate market. The changing dietary patterns call for a consistent supply of food and crops, especially vegetables.
Governments in emerging economies are keenly earmarking budgets to support sustainable agriculture practices. The awareness about soilless systems has risen among the farming community. This has extended the horizon of the hydroponic substrates market.
Hydroponic Substrate Market: Key Players
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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