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Market Overview of Global Vertical Hydroponic Lettuce market:
According to our latest research, the global Vertical Hydroponic Lettuce market looks promising in the next 5 years. As of 2022, the global Vertical Hydroponic Lettuce market was estimated at USD XX million, and it's anticipated to reach USD XX million in 2028, with a CAGR of XX% during the forecast years.
Hydroponics is a method of growing plants in a horizontal or vertical manner without soil, where mineral nutrients are provided by water. Hydroponic systems that allow plants to grow in a vertical fashion are known as vertical hydroponics. Vertical Hydroponic Lettuce refers to lettuce grown in vertical hydroponics.
Drivers
Advantages of Lettuce Vertical Hydroponics
Vertical farming is growing crops in stacks in a controlled indoor environment. Grow crops using soilless techniques in specially designed beds and trays. In hydroponics, crops are fed using a closed-loop water system that contains all the nutrients they need. Hydroponics saves an estimated 90%-95% of water compared to traditional outdoor agricultural use. This is because the water is kept in a closed water system that is constantly recirculated, which means that ultimately less water is needed to grow the plants from seed to harvest. For example, it is estimated that increasing a kilogram of lettuce outdoors requires an average of 130 liters of water. Still, in a hydroponic study, it was found that only 6.14 liters of water were needed to grow a kilogram of lettuce indoors. Lettuce is one of the most commonly planted leafy vegetables in soilless cultivation. Compared with the lettuce cultivated in general soil, hydroponic lettuce has the advantages of good quality, high commodity value, fewer pests and diseases, and no continuous cropping obstacles. Therefore, the advantages of vertical hydroponics of lettuce are one of the driving factors driving the development of the industry.
Limitations
The cost of hydroponic lettuce is high
At present, more and more enterprises are building many lettuce and green leaf greenhouses. Although it is developing rapidly, the price and cost of Vertical Hydroponic Lettuce are still relatively high compared to lettuce grown in traditional soil, and it does not have a price-competitive advantage. Hydroponic vegetables require large investments and high costs due to modern equipment and high management technology requirements. Investment costs include capital costs to start hydroponics, construction of greenhouses, and environmental control devices. It can mainly include energy consumption costs such as lighting, cooling, heating and dehumidification, facility construction costs, etc. Therefore, the price of Vertical Hydroponic Lettuce is still relatively high due to factors such as high initial investment costs and high later energy costs. For Vertical Hydroponic Lettuce, the high cost of cultivation is one of the challenges restricting the development of the Vertical Hydroponic Lettuce industry.
Company Overview:
Elevate Farms grows sustainable, pesticide-free greens locally that are blockchain-tracked from seed to sale in a proprietary, closed-loop, state-of-the-art vertical farming facility. Elevate Farms' facilities allow the company to create ideal growing conditions for plants, delivering exactly what they need at the right time with zero pollution. Consistently looks and tastes great 365 days a year, regardless of geographic location or external environmental conditions.
Vertical Roots is a leading vertical farming company. The Canadian farm of Vertical Roots was born in September 2020. Companies want to see high-quality, year-round, locally produced food products spread across Canada using techniques such as hydroponics. No matter what the season, hydroponics opens the door to growing fresh, nutrient-dense lettuce year-round.
Elevate Farms is one of the major players operating in the Vertical Hydroponic Lettuce market, holding a share of 36.07% in 2023.
Segmentation Overview:
Looseleaf Lettuce
Looseleaf Lettuce varieties are those lettuces that do not form a compact head. Their flavor tends to be mild and sweet.
Butterhead Lettuce
Butterhead Lettuce is sometimes called "cabbage lettuce" because of its similar size and shape to a head of cabbage.
Romaine Lettuce
Romaine or cos lettuce is a variety of lettuce that grows in a tall head of sturdy dark green leaves with firm ribs down their centers.
Among different product types, Romaine Lettuce segment is anticipated to contribute the largest market share in 2028.
Application Overview:
Food Service
Food Service refers to the enterprise responsible for providing meals in places other than home, mainly including restaurants, restaurants, etc. These businesses purchase Vertical Hydroponic Lettuce.
Retailing
Refers to consumers retailing to buy Vertical Hydroponic Lettuce to make their own food.
The market's largest segment by application is the segment Retailing, with a market share of 73.10% in 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Vertical Hydroponic Lettuce market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Vertical Hydroponic Lettuce Market Report:
Market Size Estimates: Vertical Hydroponic Lettuce market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Vertical Hydroponic Lettuce market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Vertical Hydroponic Lettuce market
Segment Market Analysis: Vertical Hydroponic Lettuce market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Vertical Hydroponic Lettuce market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Vertical Hydroponic Lettuce Market: Revenue and sales volume of major countries in each region
Vertical Hydroponic Lettuce Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Vertical Hydroponic Lettuce market in major regions.
Vertical Hydroponic Lettuce Industry Value Chain: Vertical Hydroponic Lettuce market raw materials & suppliers, manufacturing process, distributors, downstream customers
Vertical Hydroponic Lettuce Industry News, Policies & Regulations
Key players in the global Vertical Hydroponic Lettuce market are covered in Chapter 12:
GoodLeaf Farms
Vision Greens
Elevate Farms
Truly Northern
Vertical Roots
In Chapter 2 and Chapter 15.1, based on types, the Vertical Hydroponic Lettuce market from 2018 to 2028 is primarily split into:
Looseleaf Lettuce
Butterhead Lettuce
Romaine Lettuce
Others
In Chapter 3 and Chapter 15.2, based on applications, the Vertical Hydroponic Lettuce market from 2018 to 2028 covers:
Food Service
Retailing
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Vertical Hydroponic Lettuce market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028