Commercial Greenhouse Market to Reflect Tremendous Growth Potential...

Commercial Greenhouse Market to Reflect Tremendous Growth Potential with A CAGR of 9% BY 2032

Posted 2023-10-20 09:07:32

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The global commercial greenhouse market size was USD 27 billion in 2022 and is expected to reach a value of USD 58.64 billion in 2032 and register a revenue CAGR of 9% during the forecast period. The desire for fresh and high-quality crops year-round, the growing requirement for food security due to population expansion, and changing weather patterns brought on by global warming are the main factors driving market revenue growth. Farmers may better regulate the growing environment by using commercial greenhouses, allowing them to produce crops all year long and in places where it would be impossible to do so without them.

The market is expanding due to the necessity of reducing carbon emissions and promoting sustainable agricultural methods. Customers are seeking more product that has been grown and supplied sustainably as they become more conscious of the effects food production has on the environment. A sustainable and environmentally beneficial method of food production is commercial greenhouse technology. Utilizing energy-efficient equipment, such as solar panels, geothermal heating and cooling systems, and LED Lighting, can lower energy use and greenhouse gas emissions, supporting sustainable agricultural practices.

The conditions such as temperature, fertilizers, and humidity are required for the proper growth of the plants. The advantage of commercial greenhouses is that a higher yield is obtained in comparison with conventional methods. Plants grown in such controlled conditions are free from pests and animals, and vegetables, flowers, fruits are available throughout the year. There is minimum consumption of water.

Many government bodies and private sectors are supporting the greenhouses with financial aid which is boosting the market growth of the commercial greenhouses. Moreover, the increasing disposable income among the crowd in the developing nations and the demand for food due to the augmenting population is the significant factor propelling the growth of the commercial greenhouse market.

Rapid urbanization and the desire for fresh vegetables and fruits are flourishing the market growth for commercial greenhouses.

Major players are collaborating and merging with leading companies to improve their position in the industry. Few leading players are investing in research and development activities which is surging the commercial greenhouse market.

High initial setup and lack of awareness and knowledge about commercial farming are hampering the growth of the commercial greenhouses.

The current COVID pandemic has disrupted the overall supply chain leading to a decline in production. The strict lockdown rules and social distancing policies to reduce the spread of the virus have also resulted in a limited workforce.

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Further key findings:

Based on product type, the vegetables and fruits segment is predicted to grow at a high pace during the projection period. The controlled environment offers suitable properties for the crops and plants to grow properly. Ornamental flowers and plants are also gaining popularity as they are extensively used especially for decorating houses and walkways.
In context to the equipment type, the heating systems section is predicted to hold the highest CAGR during the projected period from 2021 to 2032. The heating systems are a vital constituent of the greenhouses as it helps in maintaining the temperature. Various modified heating systems are extensively used in countries with cold weather temperatures.
The LED grow lights are used to provide light to plants for photosynthesis. These lights are assumed to observe steady growth during the projected period.
The European region led the market for commercial greenhouses and is presumed to continue its dominance in the forecast period. Europe was the first region to incorporate advanced techniques in commercial greenhouses.
The Asia Pacific is expected to register the fastest growth throughout the analysis period. The continuous requirement of food due to the growing population in the countries in the APAC region is surging the demand for commercial greenhouses. Additionally, the shrinkable land and rise in the disposable income in India and China evaluated to augment the growth of the commercial greenhouses industry.
Key players in the commercial greenhouse sector include Nexus Corporation, Nobutec B.V, Hort, Zuid Holland, Argus Control System, The Glasshouse Company Pty Ltd., Americas, Richel Group and SA, and Certhon.

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For this study, Reports and Data has segmented the global commercial greenhouse market based on Type, Product, Equipment, and Region:

By Product Type (Revenue, USD Billion, 2018 - 2032)

Flowers & ornamentals
Fruits
Vegetables
Nursery crops
Others
Cacti
Tropical crops

By Type (Revenue, USD Billion, 2018 - 2032)

Plastic greenhouse
Glass greenhouse

By Equipment (Revenue, USD Billion, 2018 - 2032)

Heating systems
Cooling systems
Others
Control systems
Ventilation
LED grow lights
Communication technology
Irrigation systems

By Region (Revenue, USD Billion, 2018 - 2032)

North America
Europe
Asia Pacific
Rest of the World (RoW)
Middle East
Africa

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