The global greenhouse produce market is estimated to be valued at US$ 28 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: The greenhouse produce market offers controlled environments for cultivating crops. Greenhouses allow farmers to grow crops irrespective of changing weather conditions. This enables year-round production and ensures consistency in supply. Greenhouse farming also uses resources more efficiently through technologies like hydroponics and vertical farming.
Weakness: Initial investment required for setting up greenhouse infrastructure is significant. High capital costs can pose challenges for small and medium farmers. Further, crops grown under protected conditions require specialized care and expertise compared to open field cultivation.
Opportunity: Growing health consciousness and demand for organic produce provide opportunities for the greenhouse produce market. Changing dietary habits and preference for fresh fruits and vegetables even in off-seasons is driving the market. Moreover, urban agriculture and vertical farming are opening new avenues for controlled environment agriculture.
Threats: Dependence on fossil fuels and electricity makes greenhouse farming vulnerable to fluctuations in energy prices. Climate change is disrupting traditional crop cycles and increasing pest attacks, posing threats. Further, stringent food safety and import regulations pose challenges to international trade.
Key Takeaways
The Global Greenhouse Produce Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 28 billion by 2024, registering a CAGR of 4.7%.
Regional analysis: Asia Pacific dominates the global greenhouse produce market currently and is expected to continue its dominance through 2030. Countries like China, Japan and India offer favorable climatic conditions and huge demand for fresh produce. North America and Europe are other major markets for greenhouse farming driven by growing organic food consumption. Latin America and the Middle East & Africa also offer lucrative opportunities with fast adoption of advanced greenhouse technologies.
Key players: Key players operating in the greenhouse produce market are Fabory, Fastenal Company, WÃ1⁄4rth Industrie Service GmbH & Co. KG, REYHER, KELLER & KALMBACH GmbH, AB STEEL, Brunner Manufacturing Co., Inc. KD FASTENERS, INC., ckford Fastener, Inc., AMARDEEP STEEL, Viha Steel & Forging. These companies are engaged in manufacturing and supplying greenhouse equipment, materials and components required for infrastructure development. They also provide integrated solutions and technical expertise for commercial farmers.
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