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.
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.
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.
Some of the key topics covered in the report include:
Market positioning of vendors
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Germination Kits and Trays Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 4.15%
Market growth 2021-2025
USD 75.23 million
YoY growth (%)
North America, Europe, APAC, South America, and MEA
Performing market contribution
APAC at 35%
Key consumer countries
US, China, The Netherlands, Japan, and Canada
Leading companies, competitive strategies, consumer engagement scope
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.
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.
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