Germination Kits and Trays Market to increase by USD 185.18 million during 2023-2028; Increasing demand for food drives the growth – Technavio

NEW YORK, Nov. 26, 2023 /PRNewswire/ — The germination kits and trays market size is expected to grow by USD 185.18 million between 2023 and 2028. However, the growth momentum of the market will progress at a CAGR of 5.68% during the forecast period. The market is segmented by End-user (Commercial and Residential), Type (Disposable biodegradable trays and Reusable trays), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).

The growth in population drives demand for food, which drives market growth. The growth increases the demand for food but the loss of agricultural land and climatic changes remain significant challenges for this ever-increasing population. Non-conventional farming methods, including indoor farming, vertical farming, and greenhouses, are increasing in order to offer food security to the increasing population. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a Free PDF Sample 

Key Highlights:

The report recognizes the following as some of the key players in the germination kits and trays market: Back to the Roots Inc., Bootstrap Farmer, CMI Marketing Inc., Gardzen, Garland Products Ltd., Good Roots Barn Ltd, Hydrofarm LLC, Japeto Ltd, JIFFY PRODUCTS INTERNATIONAL BV, Johnnys Selected Seeds, Malton Plastics UK Ltd., MPLUS INDUSTRY, Namdeo Umaji Agritech I Pvt. Ltd, Ningbo Seninger Plastics Co. Ltd., Plants Guru, The Affordable Organic Store, The Scotts Miracle Gro Co., Viagrow, W. Atlee Burpee and Co., and WE HydroponicsGermination Kits and Trays Market is fragmented in nature.Market to observe 4.56% YOY growth in 2024.

Market Dynamics:

Trend

The detrimental impact of climate change on global agricultural output is an emerging market trend.There is a disruption in the patterns of rainfall, and the water table may decline in many regions, which results in a significant impact on the harvest of crops that need large quantities of water.Furthermore, indoor agriculture usually results in more crops per drop and more harvest per unit area of land but on the other hand, less water requirement for a given amount of harvest.Such factors drive the adoption of indoor agriculture.

Challenge

The lack of exposure to modern agricultural practices challenges the market growth during the forecast period.Most of the farmers in developing countries are small and marginal farmers.They engage in subsistence farming and usually depend on agricultural practices that require the minimum input of technologies, capital, labor, and supervision.They do so to keep their operational expenditures as low as possible.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report

Keg Segments:

The commercial segment is significant during the forecast period. The growing global population drives the demand for food and encourages farmers to practice indoor and urban farming. The advent of new technologies, including automated systems and energy-efficient light-emitting diode (LED) lighting will significantly contribute to the growth of this segment. Factors such as the growing success rates associated with it and the growing challenges associated with cultivating crops on land boost the commercial hydroponics sector. Get a glance at the market contribution of the segments, Request a Sample

Related Reports:

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The agriculture market in Bahrain is estimated to grow at a CAGR of 1.39% between 2022 and 2027. The size of the market is forecast to increase by USD 13.98 million.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 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.

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SOURCE Technavio