Germination Kits and Trays Market to grow by USD 75.23 mn|Evolving Opportunities with Aerogrow International Inc. & Apollo Horticulture Atlee Burpee |17000+ Technavio Reports
NEW YORK, Nov. 30, 2021 /PRNewswire/ -- The germination kits and trays market share growth by the commercial segment will be significant for revenue generation. The germination kits and trays market is expected to grow by USD 75.23 million from 2020 to 2025. The report projects the market to progress at a CAGR of 4.15%. In addition, the report offers a detailed analysis of the current market scenario, the latest trends drivers, challenges, key vendors, and the overall market environment.
For more insights on germination kits & trays market -Download a Free Sample Report
Germination Kits and Trays Market: Drivers
Availability of funding for startups and farmers encouraging indoor agriculture to drive growth
Availability of funding for startups and farmers encouraging indoor agriculture improves yields and profitability but requires very high upfront capital investment. The large-scale adoption of indoor agricultural practices depends on the availability of funding. The global indoor agriculture market has seen a rapid increase in the availability of funding and financial incentives for start-ups in recent years.
Most of the leading indoor agriculture companies have been successful in getting funding for increasing the harvest of exotic crops. Governments are also encouraging farmers to embrace the latest agriculture technologies, including indoor agriculture. For instance, the provincial and local authorities in China subsidize greenhouse development. This push by governments and start-ups toward indoor agriculture has led to increasing the demand for germination kits and trays.
Germination Kits and Trays Market: Challenges
High capital investment requirement and high operational cost
Indoor agriculture requires a considerable initial investment in land, civil structure, lighting, and climate control systems. Thus, a farm owner should have enough financial backup to undertake indoor agriculture. Apart from this, electricity consumed by climate control systems and lighting and labor costs is additional expenses in indoor agriculture. This increases the overall operational expenditure of an indoor farm.
For more information on Drivers, Trends & Challenges - Request a Free Sample
Germination Kits and Trays Market: Vendor Analysis
The germination kits and trays market is fragmented and the vendors are deploying organic and inorganic growth strategies to gain a competitive advantage. Aerogrow International Inc., Apollo Horticulture Atlee Burpee, Garland Products Ltd., Hawthorne Gardening Co., Hydrofarm LLC, JIFFY GROUP, Ningbo Seninger Plastics Co. Ltd., Root!T, Viagrow, and W. Atlee Burpee & Co are some of the major vendors for the germination kits and trays market.
Germination Kits and Trays Market: Segmentation Analysis
This market research report segments the germination kits and trays market by End-user (commercial and residential) and Geography (North America, Europe, APAC, South America, and MEA).
35% of the germination kits and trays market growth will originate from APAC. China and Japan are the key markets for germination kits and trays in APAC. The geographical segmentation in the report has assessed and included details on the competitive intelligence and regional opportunities in store for vendors.
For more information on emerging business opportunities across regions - Download a Free sample report
Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Related Reports :
Laser Land Levelers Market -The laser land levelers market size has the potential to grow by USD 185.20 million during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 6.30%. Download a free sample now!
Indoor Farming Market -The indoor farming market has the potential to grow by USD 624.28 million during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 8.60%.Download a free sample now!
Germination Kits and Trays Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.15% |
Market growth 2021-2025 |
USD 75.23 million |
Market structure |
Fragmented |
YoY growth (%) |
3.47 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
APAC at 35% |
Key consumer countries |
US, China, The Netherlands, Japan, and Canada |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Aerogrow International Inc., Apollo Horticulture Atlee Burpee, Garland Products Ltd., Hawthorne Gardening Co., Hydrofarm LLC, JIFFY GROUP, Ningbo Seninger Plastics Co. Ltd., Root!T, Viagrow, and W. Atlee Burpee & Co. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
Share this article