This market research report includes a detailed segmentation of the global germination kits and trays market by end users (commercial and residential). It also outlines the market shares for key regions such as APAC, Europe, North America, and ROW. The top vendors analyzed in this report are Aerogrow, Hydrofarm, Jiffy, and Viagrow.
Technavio’s market research analysts estimate the global germination kits and tray market, to grow at a CAGR of 4% between 2016 and 2020. Germination kits and trays help grow bigger and healthier seedlings. They are easy to set up and require little maintenance and less frequent watering. With increased benefits provided by indoor farming, germination kits and trays will be more in demand in the residential and commercial segments over the next four years. North America dominates the global germination kits and trays market owing to recent increase in indoor farming practices and the presence of a large number of vendors in this region.
The new market research report from Technavio provides a breakdown and analysis of the germination kits and trays segments by technology.
“One of the latest developments in the germination kits and trays market is the advent of electric propagators. An electric propagator helps gardeners to achieve early and more successful seed germination. Such seeds grow into healthier plants due to their consistent and comfortable start. Since electric propagators can also be used at low-temperature settings, it will allow users to keep the frost off the over-wintered plants. Benefits such as its high cost effectiveness and high convenience will result in its augmented adoption during the forecast period.
The commercial segment dominates this market, occupying about 70% of the total market share. Due to the growing global population, the demand for food is increasing. This increase in the demand for food products will encourage farmers to practice indoor and urban farming. Also, factors such as the advent of new technologies, including energy-efficient light-emitting diode (LED) lighting and automated systems, will augment the demand for germination kits and trays among commercial end users during the forecast period.
The leading vendors in the global germination kits and tray market are Aerogrow, Hydrofarm, Jiffy, and Viagrow. This market is moderately fragmented and highly competitive due to the presence of numerous large vendors. The competitive environment is expected to intensify with an increase in product and service extensions, technological innovations, and mergers and acquisitions (M&A).
A more detailed analysis is available in the Technavio report, Global Germination Kits and Tray Market 2016-2020.
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