Dublin, Aug. 15, 2024 (GLOBE NEWSWIRE) -- The "GCC Hydroponic Market Forecast Report by Type, Crop Type, Equipment, Region, and Company 2024-2032" report has been added to ResearchAndMarkets.com's offering.
GCC Hydroponic Market is expected to reach US$ 614.05 million by 2032 up from US$ 202.69 in 2023, having a compound annual growth rate (CAGR) of 13.11% from 2024 to 2032, due to the growing incorporation of hydroponics in the agriculture sector of the area.
The agricultural technique known as hydroponics is efficient in addressing the environmental issues of the GCC nations. Hydroponics seeks to change the traditional farming processes in aspects of water supply and heat stress differ. It is a water-saving process and environmentally friendly method that allows growing crops, profitable all year round, but for seasonal weather conditions.
Hydroponics has various benefits, one of which includes accessibility to clients in different places and at different time of the year. It can also be conducted in different environments starting from streets and ending with specifically equipped enclosed spaces. It does so whilst also encouraging local agriculture and food production, thus greatly helping the GCC region to cut down on its imports of food products. Considering the fact that the enhancement of food security and sustainability of the region is on the agenda, hydroponics is a multifunctional and rather perspective innovation in the sphere of increasing the productivity and stability of the agricultural industry.
Driving Factor in the GCC Hydroponic Market
Hydroponics saves water compared to conventional farming methods
Hydroponics is indeed a very efficient system in GCC countries because of its efficiency in using water more than the traditional methods of farming. With this technology, maximum control in the delivery of nutrients to the crops and water can be achieved due to its effectiveness in dry regions where water is scarce. Hydroponic reduces the use of water in agriculture by as much as 90% with assurance of equal yields as it is conventionally used.
This makes it particularly advantageous for areas like the GCC where sustainable agriculture practice is vital in the achievement of the food security goals besides the reduction of sizes rely on imported foods. When it comes to demand for local fresh produce in urban areas, hydroponics provide a viable and yet sustainable system of feeding growing population in an area of water deficiency.
Hydroponics enables year-round local production, decreasing the reliance on imports and enhancing food security
Hydroponics is an environment friendly system that promotes growth of produce throughout the year thus alleviating the dependence on imports on food security in GCC. Hydroponics is a technique of cultivating plants under controlled conditions without the use of soil. This enhances the availability of the products in the market all the year round despite the different seasons. It cuts down considerably the carbon emissive costs that are inevitably incurred when food needs to be transported a long distance and hardly depends on external sources.
Therefore, depending on a particular product, the local communities are enabled to rely on the product to sort out their nutrition needs. That is why the acceptance of hydroponics could provide a much stronger and stable food supply chain that will grant people the ability to consume local and fresh foods instead of relying on imports. The consequences of this in the future years can be crucial. Population of the Gulf Cooperation Council (GCC) is expected to touch the 58.3 million people by the year 2030 and 72.3 million by 2050. The leaders in the region are keen on formulating ways to providing for the growing population. They are putting their capital in resources that can eliminate climatic disapplying to farming whereby hydroponic farming methods appear to be a solution.
GCC governments actively promote and invest in hydroponic farming
GCC governments have embarked on intensive promotion and investment in hydroponic farming as a sound mitigation measure to the climate and water scarcity challenges. Their objective is to bring about improvement in production of foods locally, thereby decreasing the importation of foods and improving the food security of their people.
The GCC governments encourage hydroponic farming due to its efficiency in farming and it solves the aforementioned challenges. In 2023, Oman based company NKK entered into a joint venture with an American agritech firm where Oman importing hydroponic and vertical farming technology with an aim of enhancing the country's food production and in the process thereof minimizing the costs of future imports.
UAE Hydroponics Market
The hydroponics market in the United Arab Emirates is thriving due to the region's arid climate and scarcity of arable land. Governmental and private investments in hydroponics infrastructure have led to the cultivation of various crops, and the UAE government's support for food security has further promoted the adoption of hydroponics farming.
Financial incentives and ongoing research and development programs drive the region's long-term sustainability and productivity of hydroponic agriculture. Dubai has become a leading force in the hydroponics market. Through forward-thinking agricultural strategies, Dubai has effectively addressed the challenges of arid conditions and water scarcity. The city has actively promoted sustainable and self-sufficient food production systems by utilizing innovative techniques and cutting-edge technologies.
Company Analysis: Key Persons, Overview, Recent Development & Strategies, Product Portfolio, Revenue
- AeroFarms
- AmHydro
- Freight Farms
- Green Sense Farms Holdings, Inc.
- LumiGrow
- Unrivaled Brands Inc
- BrightFarms
- The Scotts Company LLC
- Hydrodynamics International
- Signify Holding
Type - Market breakup in 2 viewpoints:
- Aggregate Systems
- Liquid Systems
Crop Type - Market breakup in 6 viewpoints:
- Tomatoes
- Herbs
- Lettuce
- Cucumbers
- Peppers
- Others
Equipment - Market breakup in 6 viewpoints:
- HVAC
- LED Grow Light
- Irrigation Systems
- Material Handling
- Control Systems
- Others
Region: Market breakup into 6 viewpoints
- Saudi Arabia
- UAE
- Qatar
- Oman
- Kuwait
- Bahrain
For more information about this report visit https://www.researchandmarkets.com/r/fv2wdr
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