Commercial Greenhouse Market Is Estimated to Witness High Growth Owing to Rising Demand for Year-round Produce
The commercial greenhouse refers to a structure covered with solar film, glass or any material that transmits solar radiation and retains heat. Commercial greenhouses are widely used by farmers to grow crops and plants throughout the year. They provide the optimal temperature and controlled environment required for growing produce during winter and off-seasons. Fruits, vegetables, flowers and cannabis are some of the major crops grown in commercial greenhouses. Commercial greenhouses help to boost yields and reduce dependence on seasonal availability of crops.
The global commercial greenhouse market is estimated to be valued at US$ 44.99 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Rising demand for year-round produce has been identified as the major driver propelling growth of the commercial greenhouse market during the forecast period. Commercial greenhouses help farmers to grow crops round the year by precisely controlling various environmental factors like temperature, humidity, light, soil PH and others. This enables them to provide fresh produce to consumers even during off-seasons. Further, rapid urbanization followed by rise in population has fueled demand for more food production which has facilitated adoption of commercial greenhouses. However, high setup and maintenance costs associated with greenhouse infrastructure will restrain market growth over the forecast period.
SWOT ANALYSIS
Strength: The commercial greenhouse market provides controlled environment for optimal plant growth which results in higher yields. Greenhouses offer protection from various weather conditions such as rainfall, frost, and strong winds allowing year-round cultivation. They ensure consistency in crop production.
Weakness: High initial investments and maintenance costs associated with commercial greenhouses limit their adoption, especially in developing nations. Skilled labor requirements and dependency on energy sources for heating and lighting systems also increase operational expenses.
Opportunity: Advancing greenhouse technology is optimizing resource usage with solutions like IoT sensors, LED lighting, hydroponics, and renewable energy integration. Automation is reducing labor needs. Rising global population and food demand present market expansion opportunities in Asia Pacific and Latin American countries.
Threats: Climate change impacts including extreme weather events can disrupt greenhouse operations. Volatility in energy prices poses risks. Trade barriers and import/export regulations across countries affect international business. Small and medium farmers have limited access to financing for greenhouse investments.
KEY TAKEAWAYS
Global Commercial Greenhouse Market Size is expected to witness high growth.
North America currently dominates owing to strong agricultural industry and advanced farming practices in United States and Canada. Asia Pacific is emerging as the fastest growing regional market with increasing investments to boost yields in China, India and Southeast Asian nations. Europe is another major commercial greenhouse market, led by countries like Spain, Italy and Netherlands.
Key players operating in the commercial greenhouse market are BASF SE, Phenospex, WIWAM, Lemnatec Corporation, Plant-DiTech, Hiphen, Delta-T Devices Ltd., Phenomix, Keygene, Qubit Systems, WPS B.V., Photon Systems Instruments, Vienna Biocenter, Heinz Walz Gmbh, CropDesign, and Rothamsted Research. The market continues to evolve with technological advancements that enhance environmental control, automation, yield monitoring and data analytics solutions. Adoption of renewable energy integration and hydroponics systems is gaining traction to boost resource efficiency. Collaboration between farmers, technology providers and research organizations helps facilitate greenhouse modernization.
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