Hydroponic Vegetable Market: Introduction:
The hydroponic vegetable is the vegetable grown over the non-soil nutrient support. Hydroponic vegetables are grown under controlled environment with no outdoor exposure. The whole process of hydroponic agriculture is controlled under a centralize computer system which controls the nutrition balance in the feed water, humidity inside the greenhouse and fertilizer concentration. This makes hydroponic vegetables grown diseases and pollutant free. The yield of the plants are very predictable and hence grantees return to the manufacturers. The hydroponic vegetables are of high quality and can be grown close to the selling point of the vegetable markets. This increases the value of the product and reduces the loss in the distribution channel for the manufacturers.
Guaranteed yield and production of exotic variety in no growing zones makes the hydroponic vegetable market very lucrative for the manufacturer to invest. The hydroponic vegetable is anticipated to grow heavily into the global market because of the food and beverage market trend for the healthy and fresh product. Also, inexpensive production cost and reduction in food miles will drive the hydroponic vegetable market towards growth.
Hydroponic Vegetable Market: Segments:
The hydroponic vegetable market can be segmented according to its type, origin and distribution channel.
Based on the type, the hydroponic vegetable market can be divided into natural and GMO. The natural vegetables are grown from the natural seeds or plant sources. The GMO vegetables are grown from GMO seeds collected from a facility.
According to the origin, the hydroponic vegetables can be segmented into exotic hydroponic vegetable and non-exotic hydroponic vegetable. The exotic hydroponic vegetables are not locally grown due to its geography and hence has a larger demand and higher return value. The non-exotic hydroponic vegetables are daily consumable vegetables with having a higher quality than locally grown vegetables.
Based on distribution channel the hydroponic vegetables can be segmented according to the hypermarket, supermarkets, retail chains, local vendors and internet market. In this segmentation, retail and internet market are more likely to show greater demand than others because of exclusive segmentation of the hydroponic vegetables.
Hydroponic Vegetable Market: Region-wise Outlook:
Major market regions like Europe and Northern America have already opted for hydroponic vegetables because of the high demand for natural and fresh farm products by health cautious population. Asia-Pacific and Middle-East and Africa are having a high demand for an exotic hydroponic vegetable market. The global consumption of natural and fresh farm products have increased which is foreseen to affect the hydroponic vegetable market in a positive way. Reduction of the cost price of the exotic vegetable in the local market will boost the present hydroponic vegetable market.
Hydroponic Vegetable Market: Drivers and Restraints:
Reduction in production cost and timely healthy yield are the main USP of the hydroponic vegetable market. The technology used to produce the vegetables are able to produce vegetable all around the year with no effect of the external weather condition. This will allow the manufacturer to supply fresh vegetables all around the year creating a healthy market in the region. Production of exotic varieties of vegetable near the selling point also reduces the food files which helps in bring down the selling price of the product resulting in heavy consumption. Organic vegetables are not produced in hydroponic system hence, the manufacturer will lose the market for it. This can act as a restrain to the hydroponic vegetable market.
Hydroponic Vegetable Market: Key Players:
The key global players for the hydroponic vegetable market are Growponics Ltd, Freight Farms, AeroFarms, Edenworks, BrightFarms Inc, AmHydro Inc, Hortimex Holland BV, Topterra Holland, Thanet Earth Ltd, HotiNed, Swissradies, Metazet/FormFlex and StarFarm Pakistan (Pvt) Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.