BOULDER, Colo., Jan. 21, 2014 /PRNewswire/ -- The hydroponic food production industry is expanding at a rate that is set to outpace the 2014 IMF estimate of global growth by 80%. Hydroponics systems are being deployed to grow key vegetable and fruit crops at scale, driving the transition to safe and sustainable food production worldwide. Agriculture is traditionally a conservative market sector, but the benefits of higher yields with lower inputs, improved soil and water quality, and food safety are compelling forces for change.
The worldwide market value of hydroponically produced food will show sustained strength with a 6.5% compound annual growth rate (CAGR) over the five-year forecast period 2013-2018, beating the IMF estimated growth forecast of 3.6% for 2014. Producer value will increase from $17.7 billion to $24.3 billion. Growth will be steady thanks to the buffering effect of mature European markets, but there will be acceleration over the period due to emerging growth in North America and Eastern Europe.
"The agriculture sector is undergoing profound transformation," says Carol L. Stimmel, founder and CEO of Manifest Mind, LLC. "Our research shows that hydroponics is creating new opportunity that is breaking the mold of the conservative agricultural sector. Hydroponic growing advances food safety and traceability that customers, retailers, and even food regulators are demanding."
Manifest Mind, LLC, the sustainability research and consulting company based in Boulder, CO has released a market forecast entitled The Emerging Hydroponics Industry: Hydroponics Systems, Issues, Crop Values, and Global Market Forecasts. This report explores the opportunities for hydroponic agricultural production. It explains related technologies and applications with a focus on the environmental, social and regulatory drivers propelling the sector. The authors discuss barriers related to human capital, energy intensity and other factors that must be addressed to be successful with hydroponic production. Winning approaches for vendors, financiers, universities, and development organizations looking for profitable pathways in this market are shared.
The study is available for purchase by contacting Manifest Mind, LLC. Further information, including a report summary, table of contents, and list of figures is available at http://www.manifestmind.com/hydroponics.
Purchase the report and schedule analyst interviews by emailing [email protected] or by calling the direct line at 303.625.9833 during business hours (MT).
SOURCE Manifest Mind, LLC