The rising concerns about the food security due to the rise in the population and globalization have propelled the needs for better cultivation systems such as hydroponics, aquaponics, and aeroponics. According to the latest market intelligence report by BIS Research titled, ‘Global Aquaponics & Hydroponics Systems & Equipment Market- Analysis and Forecast (2017-2022),’ the market is expected to register a CAGR of 15.4% during the forecast period. In the global market for aquaponics and hydroponics system & equipment, the prominent strategies used by the key market players are mergers& acquisitions, partnerships, joint ventures, and product launch & development, among others. There is a need for more research and development activities and regulatory environments for the sustained growth of the market for hydroponics and aquaponics system.
In February 2018, a senior lecturer at University of Portsmouth, England, wrote an article about ‘how urban farmers are learning to grow food without soil or natural light.’ According to the article, the farmers can do this using various latest technologies such as hydroponics, aquaculture, and aquaponics to make the most of the unoccupied spaces. Hydroponics enable people to grow food without soil and natural light using blocks of pours material where the plants’ roots grow, and artificial lighting is used such as low-energy LED.
In January 2018, one of the prominent market player, Freights Farms, acquired a Boston based Cabbige, an online business management application for small-scale farmers. Freight Farms is a manufacturer of smart hydroponic container farms and developer of the farmhand automation and remote-control suite. In the acquisition, Cabbige’s inventory, crop, and financial management software was merged with Freight Farms’ farmhand automation.
Last year, in August 2017, a farm in Hyderabad, India, known as ‘Simply fresh’ had grown the imported varieties of salad leaves, veggies, berries, and flowers using hydroponics. The farm is in almost two acres of land and now is the biggest and sole supplier of all salad leaves, exotic berries, salad veggies, and edible flowers to all the prominent hotels in India. Explaining the techniques of hydroponics cultivation, Sachin, the owner of the farm said, ‘‘instead of having the roots of the plants supported and nourished by soil, the plants are supported by an inert growing medium like cocopeat and are fed via a nutrient-rich water solution.”
Aquaponics LLC, Nelson and Pade Inc., Backyard Aquaponics, American Hydroponics, and Better Grow Hydro are some of the prominent market players in the aquaponics and hydroponics system and equipment market. The market has the presence of a large number of small-sized as well as medium-sized companies that compete with each other and the large enterprises, on a global scale.