Mike Straumietis Predicts The Hydroponics Nutrients Market Will See Major Progress
Mike Straumietis, Founder and CEO of Advanced Nutrients, is aware that the global market share of hydroponics has been growing relative to other indoor farming systems. In the United States, 47 percent of indoor farming is done using hydroponic systems, according to a 2017 Artemis survey.
In 2018, the global market for hydroponics nutrients was estimated at $2.67 billion. In addition, the market is expected to develop at a compound annual growth rate (CAGR) of 8.8 percent between 2020 and 2025. Experts see that the need for hydroponic fertilizers will be driven by potentially lucrative and cost-effective hydroponic innovations, even though the U.S. and Europe have excluded hydroponic products from their lists of organic produce.
The European Union (EU) promotes hydroponic farms through its flagship program connected to the European Bank for Reconstruction and Development, notes Mike Straumietis. Because of windfall profits, farmers gained new, cutting-edge hydroponic technologies, such as photonics, along with bolstered government support, which are expected to push the hydroponics sector onward and upward.
Providing Life-Giving Essentials to People Worldwide
To unlock the true genetic potential of crops, Mike Straumietis and the Advanced Nutrients team developed the first and only complete growing system that optimizes all phases of the vegetative and bloom cycles. Growers from more than 110 countries now count on Advanced Nutrients’ broad spectrum of next-generation products that nourish each phase of their crop’s cycle from seed to senescence.
Advanced Nutrients sells nine figures’ worth of fertilizers and plant nutrients each year. And behind these products is a diverse research team of highly qualified and well-trained Ph.D. scientists. Founder and CEO Mike Straumietis also invested millions of dollars in developing the tools and technologies that provide life-giving essentials to hundreds of thousands worldwide.
Hydroponics: An Industry on the Rise
According to several studies, the emergence and advancement of alternative growing systems like hydroponics are projected to contribute to international food security by delivering healthy food to otherwise food insecure regions. Additionally, problems with market logistics can be mitigated by using alternative growing methods. Given this, the popularity of hydroponics should continue to increase over the next few years.
According to Mike Straumietis, leafy vegetables and microgreens are the most widely planted crops. Moreover, hydroponic farms that grow crops like lettuce, microgreens, and cherry tomatoes have been on the increase in more tropical or warm areas of the world.
Because vertical farms have complete control over production, hydroponic farming is developing faster than other forms. From seeds to stores, these farms are in firm control of their plants’ lifecycles. In addition, thanks to vertical farms, consumers can get relevant data and information about their food’s origins and production methods.
As Mike Straumietis notes, one of the objectives for the coming years is strengthening food production and delivery channels. As he sees it, this movement will further boost the long-term demand for hydroponic farms.
The Impact of Healthy Living on the Rising Demand for Exotic Produce
The COVID-19 pandemic has disrupted several sectors, but demand for hydroponic farming is still growing. According to Mike Straumietis, this farming practice had spread throughout urban areas long before the pandemic.
Despite the circumstances, there has been an increase in demand for exotic fruits and vegetables because more people now have the means to buy them. Research organizations and universities around the world have been looking for ways to set up efficient and straightforward hydroponics systems to boost the production of exotic fruits and vegetables and meet the growing demand because the cost of such produce is relatively high, since the majority of them are imported.
An important point to note is that demand for exotic vegetables, like red and yellow capsicum and red lettuce, in global food chains may very well impact sales throughout the forecast period. This is because consumers are becoming conscious of the benefits of eating fresh vegetables.
Mike Straumietis also points out that the demand for crops and vegetables produced by hydroponic farms has skyrocketed across many businesses as a result of growing urbanization. Restaurants, fast food chains, NGOs, railway catering, and the military are all exhibiting this trend, which further encourages growers to upgrade to hydroponic farming.